Fortuna Silver reports net income drop in second quarter on declining silver prices and rising costs kitconews gold silver finance investing mining metals economics
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Fortuna noted that silver production decrease was primarily driven by a 9% decline in head grade at the San Jose mine, which is in line with the mineral reserve average grade for the second quarter. Fortuna said that net income in Q2 2022 was $1.7 million compared to $16.2 million in Q2 2021, adding that the change in net income was mainly driven by lower sales at San Jose due to declining silver prices and corresponding negative concentrate sales adjustments, and lower production.
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