If Fortuna Silver (FVI.to) (FSM) wants to be a leading force in world silver production, then that’s fine by me.
But if it wants to adopt the corporate culture of Pan American Silver (PAAS) (PAA.to) to get there then FVI should inform us of its intentions right now. It will make my personal choice (and that of the people behind the many mails received this morning, thanks for the support people) of whether to sell FVI or to remain a shareholder that much easier. Because be clear on this, if you do not clean up your act right now, Jorge Ganoza and friends, you will lose a lot of support both at retail and institutional level.
This chart shows the number of deaths at PAAS mines in Peru since the year 2000.
Ross Beaty’s dirty little secret. Data from here
As is the Pan American style, not a single NR emitted to tell people of the accidents, no time lost in closed mines while the company tries to get to the bottom of the causes. And most importantly, no improvement ever noted. Well, we could say that 2012 has no accidents so far, that’s something i suppose.
The above chart is exactly, precisely absolutely why your author and many others would never hold shares in PAAS. So come on FVI, tell us your plans. Is the way you’ve kept hush hush about the death of Sixto Chambilla Apaza at your Caylloma mine the shape of things to come, or are you going to collectively man up, tell us that keeping the death quiet was a gross error of judgment and that from now on transparency will reign?
I’d really like the guys at FVI to have a good look at that chart above and think on it. And while they’re at it, if PAAS really is the role model they should take a look at this two year price chart as well.