April 16, 2012 / 11:59 AM / 5 years ago

UPDATE 1-Fortuna's silver production rises

April 16 (Reuters) - Canada’s Fortuna Silver Mines said its first-quarter silver production more than doubled as it mined higher grade ore at its San Jose mine in Mexico.

The company, which also owns and operates the Caylloma mine in Peru, produced 953,091 ounces of silver in the first quarter, compared with 437,123 ounces last year.

For 2012, Fortuna expects the San Jose mine to produce 1.7 million ounces of silver and 15,000 ounces of gold.

The company maintained its full-year production forecast of 3.7 million ounces of silver and 17,400 ounces of gold.

Shares of the Vancouver, British Columbia-based company closed at C$4.12 on Friday on the Toronto Stock Exchange.

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