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Fortuna Silver Mines' CEO Discusses Q2 2012 Results - Earnings Call Transcript

We continue planning for production rates of 5 million ounces of silver and 25,000 ounces of gold, by mid-2013 as we materialize expansion of the San Jose mine. The capital projects including the construction of the Dore plant and the throughput expansion of San Jose are advancing according to plan. We are in the process of securing a five hectored property in an industrial part in Mexico for a construction of facility. And also we're well advanced with the procurement of the key items of the San Jose expansion which is the volume.

At Caylloma, companies have secured failing holding capacity in the current facility until the first quarter of 2013 to a phased expansion of the systems facility. Intermeeting process is advanced. We have addressed all technical and legal observations for renewed facility which is planned to information in the late September.

Also Mr. Robert Brown joined the company in August 1st, taking over a new post of Vice President of Corporate Development. This addition to our team is strategic and aligned with our objective to continue growing Fortuna as a leading low cost silver gold producer. The company has too many resulting data realities to develop an operating jurisdictions. And with the strength of our balance sheet, we plan to take advantage of business opportunities in the cooling market. Robert will be heading this initiative for Fortuna. For 2012 exploration budget, it was 15 million and includes right now are 35,000 meters of planned grid. (Inaudible) reporting at Caylloma at San Jose. We have two dual rig strain and we are testing and developing new targets in a brownfield exploration package both in San Jose.

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