Fortuna Silver Mines Inc. (FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE) provided in a news release an operational update on its 100% owned Lindero gold project in Argentina.
"Minor delays and unavailability of vendors due to holidays thwarted our best efforts to place ore on the leach pad prior to year end. Notwithstanding, primary and secondary crushing circuits are mechanically and electrically complete and are in the final stages of pre-commissioning," stated Fortuna President, CEO and director Jorge A. Ganoza. "This will be followed by commissioning of the primary and secondary crushers by placing ore in the crushing circuit. Tertiary crushing and agglomeration still require minor terminations in the areas of electromechanical and piping. Pre-commissioning of these facilities is now scheduled for mid-January, once vendor technicians return to site."
Mr. Ganoza noted, "We are currently in the final phase of a two year construction project in Argentina. Our engineers and management team continue to provide the outstanding leadership required to ensure completion of the project."
The company listed the following construction, pre-commissioning and commissioning highlights:
- As of the end of November 2019, the overall project is 85% complete
- Primary and secondary crushing circuits: Pre-commissioning activities are being carried out and are in their final stages; placing of first ore to crushing is scheduled for the end of December
- HPGR circuit: Final mechanical completion activities and vendor representative unavailability through the holidays have pushed back pre-commissioning activities to mid-January 2020
- Agglomeration plant: Mechanical installation is complete and minor piping and electrical installation work is in the final stages; pre-commissioning is expected to commence in mid-January 2020
- Power generation: 8 MW power plant and medium voltage power distribution system have been commissioned
- Substations and electrical rooms: Crushing circuit, agglomeration plant substations and electrical rooms have been commissioned
- Industrial water supply: Water wells and pumping system have been successfully tested, and the 13 kilometer water pipeline to the project site is being pre-commissioned
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.