Fortuna Readies to Ride the Silver Price Rally

28/01/2012 04:45 AST

If silver prices can sustain their recent rally, Fortuna Silver Mines(FSM_) is poised to deliver a knock-out punch.

Fortuna is a little known silver company with two operating underground mines in Peru and Mexico and a killer growth rate. Silver production popped 31% in 2011 while gold production grew 174%. The miner is on track to produce 3.7 million ounces of silver and 17,000 ounces of gold this year, with production growing to 5 million ounces and 26,000 ounces, respectively by 2014 -- that is a double digit growth rate at a time when other miners like Newmont Mining(NEM_) are struggling to just replenish their reserve base.

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