Floated in may '08 at a share price of 525p. Shares in issue Dec '08 717,160,000.
Based in Mexico & listed on the LSE FTSE 250 index. (FTSE100 March '09)
Miner of Gold, silver, Zinc & Lead in Mexico
Produces approx 3m Oz silver, 280k Oz gold, 20k tons Zinc, 17k tons lead p.a.(2008)
Fresnillo has three producing mines, all of them in Mexico - Fresnillo, Ci�nega and Herradura; two advanced development projects - Fresnillo II, Soledad & Dipolos; and three exploration prospects - San Juan, San Julian, Orysivo, as well as a number of other long term exploration prospects and, in total, has mining concessions covering approximately 1.3 million hectares in Mexico.
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Warming up now.

Great hedge against stocks going down.

Bought HOC on the pull back this morning.

FRES Fresnillo.Looking for 960p-980p on the chart. Resistance incline looks moderate and EMAs catching up with 200EMA

Gold through 1270 resistance level.

This is getting interesting.

Already in profit with HOC.

https://www.bullionvault.com/gold-price-chart.do

Good site that BB, cheers Ill save it to favs.

Been a corker for gold and silver today.

London’s leading gold forecaster: gold to average $1321 in 2015
By Tom Winnifrith | Saturday 17 January 2015

Over the past 15 years Ross Norman of Sharps Pixley has been the forecaster with the best record in the LBMA for predicting gold price moves so you should take his gold price forecasts seriously. Ross writes, "We are going out on a limb this year." Indeed.

AVERAGE : $1321

HIGH : $1450

LOW : $1170

If markets move on what you don't know today, but will know tomorrow then it follows that many factors such as a US interest rate rises should already be factored into the current price... it also begs the question what the new drivers for 2015 will be. We see ongoing declines in economic growth prompting central banks to fight deflation by resorting to inflationary pressures in H2.

If our outlook for gold in dollar terms is bullish, in emerging currencies it may be even more so as investors seek to insure or hedge against currency debasement. As such, we foresee good demand for the physical.

Most annoyingly for bulls in 2014, gold exhibited 'rally fade' despite a global economy that was as fragile as ever. Our forecast is predicated on gold becoming price inelastic (as it was in the early 2000's) and able to sustain the momentum. I say annoyingly because arguably never before have savers potentially so needed an asset with the wealth preservation qualities that gold provides ... yet the price performance these last few years has disappointed.

In short, we see gold demonstrating that it has turned a corner and investor flows return with a vengeance, aided by short covering and fresh longs in the futures markets. Perhaps most disappointingly though we are unlikely to see runaway prices beyond the $1450 level without either significant new product innovations or without the sort of black swan events in the economy that few of us would wish for.

SILVER

AVERAGE : $18.56

HIGH : $21.75

LOW : $14.50

With a firm outlook for gold, it follows that our expectations for silver would be similar ... and a little more so... such is silver's propensity to follow gold in a exaggerated fashion. Investors will take comfort from

silver ETF holdings which have remained firm (unlike gold) coupled with retail sales of the physical coins and bars which have remained robust.

Even mine production looks set for a modest decline back to levels last seen in 1999. With 75% of silver being produced as a by-product of base metals mining, the weaker global economy may well prompt some cut-backs in mining those host metals. Equally, demand from industrial applications will be correspondingly weaker, but investors (... or more likely speculators) are normally on hand to fill the void.

Like gold, silver does seem to struggle to sustain momentum to the upside as it experiences 'rally fade' for this reason we do not see the likelihood of runaway prices just yet.

Gold miners are starting to look good again – but expect a rough ride

By: Dominic Frisby
14/01/2015

http://moneyweek.com/gold-miners-look-good-again-but-expect-a-rough-ride/

CHARLES STANLEY BROKERS

Commodities

Gold (1279.81) – the surge in the gold price continues, aided by the Swiss currency move
(the Swiss are widely seen as buyers of the precious metal) and by its safe-haven
characteristics. Last week’s 4.66% advance is notable for the fact that it resulted in a clear
move above the long-term downtrend and the extent of the break has changed the basis
somewhat, to the extent that further strength now appears to be a realistic expectation
(notwithstanding the fact that the price has become somewhat overbought of late). The next
upside target is last August’s intermediate high, at $1313 or so.

BMO Chief Economist Doug Porter warned that interest rates could move higher sooner rather than later in 2015. His 2015 outlook for gold is that it will trade, broadly speaking, where it is today. His assumption for next year is $1,190 per ounce. If the market perceives inflation is becoming a concern, it would be constructive for the gold price. (source)

Erica Rannestad, senior analyst, precious metals demand, Thomson Reuters GFMS, agreed that gold prices will likely be lower in the first half of the year because of the Fed’s expected action, which she called “the top driver” for gold-price direction. She said gold prices will likely consolidate in 2015, and lists and a 2015 average price $1,175, with prices trending higher in the second half of the year. (source)

Rob Haworth, senior investment strategist, U.S. Bank Wealth Management, said the following: “Looming Federal Reserve interest rate increases in the second half of 2015 and the stronger U.S. dollar will keep pressure on gold prices through the year. The gold market could see rallies if demand improves for physical gold, but weaker growth in much of the world will temper such prospects.” (source)

TD Securities said gold prices in the first half of 2015 could also find pressure from the slow growth in China and Europe, along with the sharp drop in crude oil prices, which is disinflationary. “Less inflation tends to lift real rates and reduce demand from investors, who buy gold and silver as a hedge. Lack of investable petrodollars, after the recent oil price collapse, also negatively hit demand for real assets and may lift Treasury yields just as the Fed will no longer be there to pick up the slack now that it ended its QE-inspired asset purchase program.” (source)

Citi Research estimates the average price for gold at $1,220 in 2015.

TD Securities lists its average 2015 gold price at $1,225.

Natixis forecast gold at $1,140.

JP Morgan revised its gold price forecast 4% lower to $1,220 per ounce, citing lower inflation, reduced inflation expectations, higher US interest rates and a stronger US dollar. “While seasonal, physical buying emerged in Asian markets in September after a drop in price, many headwinds strengthened at the same time. The Asian gold consumer – a major supportive factor last year – proved to be very price sensitive and has been unwilling to step into the market at prices above $1,260. Gold investors, in both Western and Asian countries, have also been largely absent from the market for the majority of this year.” (source)

In an interview with Mineweby, S&P credit analyst Jarrett Bilous said: “We have a relatively stable gold price at $1,200 through 2015-16, and that incorporates our expectation for relatively modest US inflation below 2% through 2016. But we also believe that gold prices will remain particularly susceptible to shifts toward higher US interest rate expectations and a stronger US dollar. We are not forecasting a gold price below $1,200, but there’s certainly the potential that prices could weaken given that, at $1,200 per ounce, the price of gold is close to 50% higher than it was in 2008 when the US started cutting interest rates to support the US financial system. We are expecting at that price, gold will remain highly volatile. It is certainly possible that gold will drop below $1,100. But below that level there’s a lot of capacity in the industry that would not be profitable and would be generating negative free cash flow. So it’s questionable how long certain mines would remain open if prices were to remain consistently below that level.”

Fresnillo : *UBS CUTS FRESNILLO PRICE TARGET TO 950 PENCE - 'BUY'


more or less in line with my Chart target.

Looks like post 153 is a load of nonsense.

Loads errrrrrr money doodlemug.

23 Jan 2015 Fresnillo PLC FRES JP Morgan Cazenove Overweight 893.25 915.00 1,110.00 1,190.00 Retains

SP TARGET 1190p

and thats just for starters....

We all know how accurate brokers are......

Yep but you have to take them all and if all have a positive rating then its worth taking note.

Market Outlook The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. The bearish pattern that was previously identified is finally confirmed and a SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.

British Bulls

On the way back down to sub 700p ?

StockMarketWire.com
Fresnillo's full year silver production - including Silverstream - rose to 45.0 Moz - 4.9% up on 2013 and ahead of guidance of 43.0 Moz guidance. Fourth quarter output rose to 12.3 Moz up 15.5% on a year ago.

The 4.9% increase on 2013 was mainly a result of higher ore throughput at Saucito due to the additional material processed from the development activities at Saucito II, maintenance efficiencies at the original Saucito beneficiation plant, and an increase in the volume of ore processed at Ciénega.

A higher contribution from the Silverstream of 4.6 Moz, resulting from increased production at Sabinas (+17.8% vs. 2013) due to a higher recovery rate and a higher ore grade, also helped boost silver production.

These factors more than compensated for the expected lower ore grade at Fresnillo resulting from the natural decline in ore grades which was further affected by the higher dilution in some of the San Mateo and San Carlos stopes and delays in the preparation of certain stopes, as well as the lower than expected silver ore grade at Ciénega.

Quarterly silver production excluding the Silverstream increased 17.6% vs. 4Q13 as a result of increased ore processed and a higher ore grade at Saucito. However, this was partially offset by less ore being processed at Fresnillo and a lower ore grade at Ciénega resulting from the increased dilution at San Ramón. Similarly, quarterly silver production increased 11.6% when compared to the previous quarter as a result of higher ore processed and ore grade at Saucito.

Full year gold production comfortably met revised guidance of 590 koz, but decreased 2.4% on 2013, mainly as a result of the stoppage of operations at Soledad-Dipolos due to the court order regarding the Ejido "El Bajío" litigation process.

The expected lower ore grade at Ciénega due to the depletion of both higher gold ore grades and wider stopes also contributed to this decrease in gold production.

In addition, production was impacted by the heap leaching process remaining in ramp-up at Herradura. This affected the speed of recovery, the excess of suspended solids in solution resulting from the start-up of the new dynamic leaching plant (DLP), and the need to increase processing capacity at Herradura.

However, an increase in ore deposited at Noche Buena and a higher contribution from Saucito supported gold production levels.

Chief executive Octavio Alvídrez said: "I am pleased to report an increase of nearly five percent in silver production in 2014, to 45 million ounces, ahead of our guidance of 43 million ounces, reflecting higher ore throughput at Saucito and an increased contribution from the Silverstream. In gold, we comfortably met our revised production target following the acquisition of the Penmont minority from Newmont, producing 596 thousand ounces over the year.

"Within our growth project pipeline, I am very pleased to report that operations at Saucito II successfully commenced both on time and on budget in the fourth quarter, and we also saw the start-up of the dynamic leaching plant at Herradura. Looking to 2015, the construction of the leaching plant at San Julián continues, and we are on track to commence production in the fourth quarter.

"2014 was of course not without its challenges, in particular at our Fresnillo and Herradura mines, but we begin 2015 confident that we are taking the necessary actions to allow for increased production at the Herradura mine, and at Fresnillo we are expecting to see the benefits of the measures we have implemented in order to control dilution and improve contractor efficiency to deliver more stable production."