Zimbabwe central banker stockpiles gold to bolster ZiG currency
The ZiG - short for Zimbabwe gold — is the nation’s sixth attempt at having a functioning local currency in the last 15 years.
Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) has reached a significant milestone with the first gold pour at its Séguéla Mine in Côte d’Ivoire.
Séguéla now enters the ramp-up phase, during which the management aims to achieve the nominal rate of production in the third quarter. Séguéla becomes Fortuna’s fifth operating mine.
The mine is expected to produce between 60,000 to 75,000 ounces of gold in 2023 at an all-in-sustaining cost of between $880 and $1,080 per ounce of gold.
Shares of Fortuna Silver rose 0.23% by 12:40 p.m. EDT. The miner has a market capitalization of C$1.29 billion ($950 million).
