{"id":912078,"date":"2018-08-08T23:50:03","date_gmt":"2018-08-08T23:50:03","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=912078"},"modified":"2018-08-08T23:50:03","modified_gmt":"2018-08-08T23:50:03","slug":"fortuna-still-targeting-q3-start-for-lindero-despite-delays-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=912078","title":{"rendered":"Fortuna Still Targeting Q3 Start for Lindero Despite Delays"},"content":{"rendered":"<p><span style=\"font-style:italic;font-size:16px\">By  <a target=\"_blank\" href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/fortuna-targeting-q3-start-lindero\/\">Nicole Rashotte<\/a><\/span>  <\/p>\n<div class=\"ftpimagefix\" style=\"float:left\"><a target=\"_blank\" href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/fortuna-targeting-q3-start-lindero\/\"><img decoding=\"async\" width=\"150\" src=\"https:\/\/cdn.investingnews.com\/wp-content\/uploads\/Gold-Outlook-3D-1-Small-2-2.jpeg\" alt=\"gold outlook free report\"><\/a><\/div>\n<p><b>Fortuna Silver Mines&#8217; (TSX:<\/b><a target=\"_blank\" href=\"https:\/\/investingnews.com\/stock-information\/?symbol=fvi:ca\"><b>FVI<\/b><\/a><b>,NYSE:FSM) Lindero gold project in Argentina has hit construction delays, but commercial production is still scheduled to begin in Q3 2019, the company <\/b><a target=\"_blank\" href=\"https:\/\/www.fortunasilver.com\/investors\/news\/2018\/fortuna-provides-construction-update-and-reports-initial-on-site-arrival-of-mine-equipment-at-its-lindero-gold-project-in\/\"><b>announced<\/b><\/a><b><a target=\"_blank\" href=\"https:\/\/www.fortunasilver.com\/investors\/news\/2018\/fortuna-provides-construction-update-and-reports-initial-on-site-arrival-of-mine-equipment-at-its-lindero-gold-project-in\/\"> on Tuesday<\/a> (August 7). <\/b><\/p>\n<p><span>Building <\/span><span>delays at the site have limited Fortuna&#8217;s ability to start certain contracts, and that has shifted the planned start time for commercial <\/span><span>operations<\/span><span> from early to late in the third quarter.<\/span><\/p>\n<p><span>\u201c<\/span><span>With a large portion of our major contracts awarded, our project team is working on opportunities to further optimize the sequencing of concrete, electromechanical and piping installations to streamline the project&#8217;s schedule,<\/span><span>\u201d said <\/span><span>Jorge A. Ganoza, president, director and CEO of Fortuna.<\/span><\/p>\n<p><span><\/p>\n<div>\n<div>\n<div><a target=\"_blank\" href=\"http:\/\/investingnews.com\/get-download\/?dtd=137980&amp;mqsc=TA1313450\"><br \/>\n<\/a><\/div>\n<div align=\"center\">\n<div><a target=\"_blank\" href=\"http:\/\/investingnews.com\/get-download\/?dtd=137980&amp;mqsc=TA1313450\"><br \/>\n<\/a><\/p>\n<h2>10+ Gold Stocks to Watch<\/h2>\n<h4>Stocks.<br \/>\nExpert Insights.<br \/>\nIndustry Stats.<br \/><\/h4>\n<p><a target=\"_blank\" href=\"http:\/\/investingnews.com\/get-download\/?dtd=137980&amp;mqsc=TA1313450\"> Give me my free report! <\/a>\n<\/div>\n<\/div>\n<p><!-- end large-8 -->\n<\/div>\n<p><!-- end row --><\/div>\n<p><\/span><\/p>\n<p><span>\u201c<\/span><span>Mass earth movement and leach pad construction, one of the initial and largest field activities, is at full gear now after a slow start and is advancing according to plan for completion in [Q2] 2019<\/span><span>,\u201d he added. <\/span><\/p>\n<p><span>Ganoza noted that detailed <\/span><span>engineering<\/span><span> is between 70 and 100 percent complete for all <\/span><span>project<\/span><span> areas, which has enabled the start of <\/span><span>construction<\/span><span> on all scheduled fronts. <\/span><span>Additionally, the procurement of all key <\/span><span>equipment<\/span><span> and major construction contracts is progressing according to the project&#8217;s timetable. <\/span><\/p>\n<p><span>\u201cAs of the end of July, we estimate we have awarded contracts and purchase orders that represent about 71 percent of the <\/span><span>project<\/span><span>&#8216;s direct capital costs,\u201d Ganoza stated.<\/span><\/p>\n<h2><b>Construction highlights<\/b><\/h2>\n<p>In its release, the company also lays out construction highlights at Lindero so far. They include:<\/p>\n<ul>\n<li><span>Initial on-site delivery of <\/span><span>Komatsu<\/span> <span>mine equipment<\/span><span><span> began in mid-July when two graders and a dozer arrived on site. There are currently 11 additional pieces of equipment that are on schedule to be delivered in September.<\/span><\/span><\/li>\n<li><span>Mine development<\/span><span> activities are scheduled to start in December, with <\/span><span>drilling<\/span><span><span> and blasting to start in March of next year.<\/span><\/span><\/li>\n<li><span>As of June 30, total cash spent on <\/span><span>construction<\/span><span><span> at Lindero in 2018 has amounted to approximately US$38 million, of which US$31 million was spent during the second quarter.<\/span><\/span><\/li>\n<li><span>An infill drill program at Lindero was successfully completed in June, with a focus on enhancing the geometallurgical model for the year-one production plan. The drill rig has been moved for a 2,000-meter program to test the Arizaro satellite gold\/<\/span><a target=\"_blank\" href=\"https:\/\/investingnews.com\/category\/daily\/resource-investing\/base-metals-investing\/copper-investing\/\"><span>copper<\/span><\/a> <span>target<\/span><span>, located some 3 kilometers from the site of Lindero&#8217;s ore-processing facility.<\/span><\/li>\n<\/ul>\n<p><span>Once Lindero is in its first year of full production, Fortuna&#8217;s consolidated <\/span><a target=\"_blank\" href=\"https:\/\/investingnews.com\/category\/daily\/resource-investing\/precious-metals-investing\/\"><span>precious metals<\/span><\/a><span> annual production should increase in 2020 to approximately 190,000 ounces of gold and 9 million ounces of <\/span><span>silver; that equates to<\/span><span> 328,000 gold equivalent ounces.<\/span><\/p>\n<p><span>As of 1:09 p.m. EST on Wednesday (August 8), Fortuna was down 1.98 percent, trading at C$6.42. <\/span><\/p>\n<p><i><span>Don&#8217;t forget to follow us <\/span><\/i><a target=\"_blank\" href=\"https:\/\/twitter.com\/inn_resource\"><i><span>@INN_Resource<\/span><\/i><\/a><i><span> for real-time news updates!<\/span><\/i><\/p>\n<p><b>Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.  <\/b><\/p>\n<p><span><\/p>\n<div>\n<div>\n<div><a target=\"_blank\" href=\"http:\/\/investingnews.com\/get-download\/?dtd=137980&amp;mqsc=TA1313450\"><br \/>\n<img decoding=\"async\" src=\"https:\/\/cdn.investingnews.com\/wp-content\/uploads\/Gold-Outlook-3D-1-Small-2-2.jpeg\" alt=\"gold outlook free report\"><\/a><\/div>\n<div align=\"center\">\n<div><a target=\"_blank\" href=\"http:\/\/investingnews.com\/get-download\/?dtd=137980&amp;mqsc=TA1313450\"><br \/>\n<\/a><\/p>\n<h2>10+ Gold Stocks to Watch<\/h2>\n<h4>Stocks.<br \/>\nExpert Insights.<br \/>\nIndustry Stats.<br \/><\/h4>\n<p><a target=\"_blank\" href=\"http:\/\/investingnews.com\/get-download\/?dtd=137980&amp;mqsc=TA1313450\"> Give me my free report! <\/a>\n<\/div>\n<\/div>\n<p><!-- end large-8 -->\n<\/div>\n<p><!-- end row --><\/div>\n<p><\/span><\/p>\n<p>The post <a target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/fortuna-targeting-q3-start-lindero\/\">Fortuna Still Targeting Q3 Start for Lindero Despite Delays<\/a> appeared first on <a target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/investingnews.com\/\">Investing News Network<\/a>.<\/p>\n<p> <a href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/fortuna-targeting-q3-start-lindero\/\" target=\"_blank\" id=\"rssmi_more\"> &#8230;read more<\/a> <\/p>\n<p>From:: <a href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/fortuna-targeting-q3-start-lindero\/\" target=\"_blank\" title=\"Fortuna Still Targeting Q3 Start for Lindero Despite Delays\">Investing News Network<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Nicole Rashotte Fortuna Silver Mines&#8217; (TSX:FVI,NYSE:FSM) Lindero gold project in Argentina has hit construction delays, but commercial production is still scheduled to begin in Q3 2019, the company announced on Tuesday (August 7). Building delays at the site have limited Fortuna&#8217;s ability to start certain contracts, and that has shifted the planned start time [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[359],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/912078"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=912078"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/912078\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=912078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=912078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=912078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}