6
FORTUNA SILVER MINES INC. | 2014 ANNUAL REPORT
2014
2013
2012
Caylloma San Jose
Caylloma San Jose
Caylloma San Jose
Mine
Mine
Mine
Mine
Mine
Mine
Peru
Mexico Consolidated
Peru
Mexico Consolidated Peru
Mexico Consolidated
Processed Ore
Tonnes milled
464,823 676,959
458,560 456,048
462,222 369,022
Average tpd milled
1,302
1,928
1,284
1,296
1,266
1,055
Silver
Grade (g/t)
174
226
173
194
177
188
Recovery (%)
85
89
82
89
77
88
Production (oz)
2,202,540 4,396,760 6,599,300 2,104,061 2,527,203 4,631,264 2,038,579 1,949,178 3,987,757
Realized Price ($/oz)
*
18.90
23.49
30.91
Net Realized Price ($/oz)
**
16.77
20.97
27.40
Gold
Grade (g/t)
0.31
1.72
0.36
1.46
0.40
1.74
Recovery (%)
40
90
42
89
47
87
Production (oz)
1,820 33,496 35,316
2,212 19,031 21,242
2,781 17,918 20,699
Realized Price ($/oz)
*
1,260.64
1,394.91
1,648.83
Net Realized Price ($/oz)
**
959.74
1,040.51
1,295.32
Lead
Grade (%)
1.70
1.92
1.99
Recovery (%)
93
91
88
Production (000 lbs)
16,152
16,152 17,780
17,780 17,886
17,886
Realized Price ($/lb)
*
0.95
0.97
0.94
Net Realized Price ($/lb)
**
0.71
0.72
0.63
Zinc
Grade (%)
2.97
2.83
2.56
Recovery (%)
90
88
86
Production (000 lbs)
27,361
27,361 25,211
25,211 22,396
22,396
Realized Price ($/lb)
*
0.98
0.87
0.88
Net Realized Price ($/lb)
**
0.65
0.61
0.66
Unit Costs
Cash Cost ($/oz Ag)
***
7.02
3.52
4.69
7.65
6.53
7.03
8.07
3.76
5.96
Cash cost ($/t)
90.57
62.99
91.22
71.41
87.28 74.10
Unit Net Smelter Return ($/t)
144.57 157.55
161.19 160.76
183.29 209.70
All-in sustaining cash cost
($/oz Ag)
***
14.13
12.07
14.48
20.83
15.89
20.45
24.05 15.64
23.02
* Based on provisional sales before final price adjustments
** Net after payable metal deductions, treatment, and refining charges; treatment charges are allocated to the base metals in Caylloma and to gold in San Jose
*** Net of by-product credits for gold, lead and zinc
Operating Highlights
