2023 Consolidated Production and Cost Guidance
| Mine | Silver (Moz) |
Gold (koz) |
Lead (Mlbs) |
Zinc (Mlbs) |
Cash Cost1,3,5,6 | AISC1,2,3,5,6 |
|---|---|---|---|---|---|---|
| SILVER | (US$/oz Ag Eq) | (US$/oz Ag Eq) | ||||
| San Jose, Mexico | 5.3 - 5.8 | 34 - 37 | - | - | 10.2 - 11.3 | 14.7 - 16.2 |
| Caylloma, Peru | 1.0 - 1.1 | - | 29 - 32 | 43 - 48 | 10.4 - 11.5 | 19.0 - 21.0 |
| GOLD | (US$/oz Au) | (US$/oz Au) | ||||
| Lindero, Argentina | - | 96 - 106 | - | - | 820 - 920 | 1,430 - 1,580 |
| Yaramoko, Burkina Faso | - | 92 - 102 | - | - | 960 - 1,060 | 1,550 - 1,710 |
| Séguéla4, Côte d’Ivoire | - | 60 - 75 | 450 - 580 | 880 - 1,080 | ||
| CONSOLIDATED TOTAL | 6.3 - 6.9 | 282 - 320 | 29 - 32 | 43 - 48 | ||
Notes:
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Cash Cost and all-in sustaining cost (AISC) are non-IFRS financial measures which are not standardized financial measures under the financial reporting framework used to prepare the financial statements of the Company and might not be comparable to similar financial measures disclosed by other issuers. Refer to the note under “Non-IFRS Financial Measures” below
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AISC includes production cash cost, commercial and government royalties, mining tax, export duties (as applicable), worker’s participation (as applicable), subsidiary G&A, sustaining capital expenditures, and Brownfields exploration and is estimated at metal prices of US$1,700/oz Au, US$21/oz Ag, US$2,000/t Pb, and US$3,200/t Zn. AISC excludes government mining royalty recognized as income tax within the scope of IAS-12
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Silver equivalent is calculated at metal prices of US$1,700/oz Au, US$21/oz Ag, US$2,000/t Pb and US$3,200/t Zn
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Séguéla’s production and cost guidance is based on first gold pour in mid-2023. Any material changes to the construction or commissioning schedule may have a material impact on Séguéla’s production and cost guidance.
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Totals may not add due to rounding
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Historical non-IFRS measure cost comparatives: The following table provides the historical cash costs and historical AISC for the four operating mines for the year ended December 31, 2021 as follows:
| Mine | Cash Cost a, b, c | AISC a, b, c |
|---|---|---|
| Silver | (US$/oz Ag Eq) | (US$/oz Ag Eq) |
| San Jose, Mexico | 9.30 | 14.38 |
| Caylloma, Peru | 13.46 | 18.94 |
| Gold | (US$/oz Au) | (US$/oz Au) |
| Lindero, Argentina | 617 | 1,116 |
| Yaramoko, Burkina Faso | 739 | 1,317 |
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Cash cost and AISC are non-IFRS financial measures; refer to the note under “Non-IFRS Financial Measures” below
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Silver equivalent was calculated at metal prices of $1,789/oz Au, $25.16/oz Ag, $2,205/t Pb and $2,998/t Zn for the year ended December 31, 2021
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Further details on the cash costs and AISC for the year ended December 31, 2021 are disclosed on pages 34, 35, 36, 38, and 39 (with respect to cash costs) and pages 34, 35, 37, and 40 (with respect to AISC) of the Company’s management discussion and analysis (“MD&A”) for the year ended December 31, 2021 dated as of March 23, 2022 (“2021 MD&A”) which is available under Fortuna's SEDAR profile at www.sedar.com and is incorporated by reference into this news release, and the note under “Non-IFRS Financial Measures” below
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