Excepts of interview with Fortuna CEO by Tekoa Da Silva on 19 December
Excepts of interview by Tekoa Da Silva on 19 Dec found on Silverseek:
"I asked Jorge about the prospect of growth for the company and the value to be had in the junior resource space. He indicated that, “We are aggressively looking at new growth opportunities. There are two avenues for growth, one is organic…[however] today we feel that our assets are close to optimum rates of capacity. On the inorganic growth side, M&A, we are aggressively out there in the market looking for opportunity, and we intend to focus our research on the post-discovery development stage opportunities where we can deploy our capital.”
He further added that, “Today I think there’s more room to find value with the exploration companies that have a resource, a discovery, and are struggling to fund."
In speaking to the acquisition “war chest” Jorge said that, “Fortuna has a robust treasury, we have in cash over $60 million, and we have a credit facility of $20 million that we’re extending to $40 million. So that gives us a cash availability of roughly $100 million---plus we expect cash from operations of around $70 million next year.”
Lastly, when asked about potential acquisition deal sizes being in the range of $80-$150 million, Jorge said,“Yes[that's correct], and even more. We are open to larger acquisitions, we can use our equity as a means of payment…we’re open to bigger opportunities as well…we have the cash and the paper to do it.”…