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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StockMarketWire.com
Fresnillo has increased its full year gold output guidance after a 37% increase in first half production. Silver output guidance is unchanged.

Silver production totalled 11.3 moz (including Silverstream) in the three months to the end of June, up 2.7% vs. 2Q14 and first half silver production of 23.8 moz (including Silverstream), was up 10.6% on last year due to the increased production resulting from the start of operations at Saucito II offsetting lower production at Fresnillo.

Fresnillo said the reduction in silver production (including Silverstream) vs. 1Q15 reflected an unusually high ore grade at Saucito in 1Q15 and a decrease in ore grade at Fresnillo.

Qarterly gold production rose to 182 koz, up 16.8% vs. 2Q14, due to higher volumes of gold recovered which resulted from an increase in irrigation areas at Herradura and Noche Buena, increased ore deposited at Noche Buena and increased ore volume processed at Saucito.

First half gold production of 364 koz, up 37.0% vs. 1H14 mainly due to Herradura being fully operational post the temporary explosives permit suspension which affected 1H14 production, and the dynamic leaching plant at the mine being in operation for the full half post its start-up in March 2014, together with an increased contribution from Saucito and Noche Buena.

Chief executive Octavio Alvídrez said: "I am pleased to report strong first half production results, with nearly 24 million ounces of silver and 364 thousand ounces of gold produced across our mines and from the Silverstream.

"The increase in silver production was primarily driven by the ramp up of Saucito II, completed significantly ahead of the three year timeframe initially anticipated, and the increase in gold production by Herradura and its dynamic leaching plant being fully operational.

"We continue to advance development rates at Fresnillo, which should result in increased production by the year end, and we continue to see good results from the management actions taken at Herradura.

"Looking forward, as a result of operational progress we have raised our full year 2015 gold production guidance to 715-730 thousand ounces and we remain on track to meet our 2015 production guidance of 45-47 million ounces of silver."

Monday - FRES down about 4.25% as thay said US interest rates will move up next.
Tuesday - FRES up about 4% with interest rates forgotten and considered oversold
Wednesday - FRES down as gold and silver prices down so FRES down by about 4%
Thursaday - FRES up as Gold and Silver prices recover, so FRES up about 3%

I can not take the stress of this - for ufcks sake who is playing about

StockMarketWire.com
Fresnillo's first half profits fell by 44.3% to $76.4m with significantly lower realised commodity prices (silver US$16.61 per oz, down 18.0%; gold US$1,206.10 per oz, down 7.4%) impacting financial performance.

Silver production totalled 23.8 moz (including Silverstream), up 10.6% due to increased production resulting from the start of operations at Saucito II, which offset lower production at Fresnillo.

Gold production totalled 364 koz, up 37.0% mainly due to Herradura being fully operational post the temporary explosives permit suspension which affected 1H14 production, and the dynamic leaching plant at the mine being in operation for the full half year post its start-up in March 2014, together with increased contributions from Saucito and Noche Buena

Other highlights:
· Basic and diluted EPS US$10.4 cents per share, down 41.2%

· Cash generation from operations remains significant at US$314.9m, down 6.5%

· Strong balance sheet maintained - cash, cash equivalents and short term investments of US$475.7m

· Interim dividend of US$15.5m (2.1 US cents per share) declared reflecting Board's confidence in the Company's financial position and outlook; no change to previously stated policy

· Stage 1 of the San Julián project now expected to be commissioned in 1Q16 (vs. previous expectation of 4Q15). Pyrites project remains on track for production to commence in 2017

· Capital expenditure for the full year 2015 now expected to be in the region of US$570m (vs. previous expectation of c. US$700m)

· Positive drill results at Ciénega and Juanicipio projects will result in an increase in inferred resources

· 2015 gold production guidance raised to 715-730 koz from 670-685 koz (+6.6%); full year silver production remains on track (45-47 moz, including Silverstream)

Chief executive Octavio Alvídrez said: "We have had a solid first half operationally, with silver and gold production up 11% and 37% respectively. Saucito drove the increase in silver production, with the ramp up of Saucito II achieved well ahead of the three year timeframe initially anticipated. The increase in gold production was driven by Herradura and its dynamic leaching plant being fully operational throughout the period.

"We continue to advance development rates at Fresnillo, which should result in increased production by the year end, and we remain on track to reach steady state production at Herradura in the fourth quarter. I am confident that we are well-placed to meet our 2015 production guidance of 45-47 million ounces of silver (including the Silverstream) and our increased 2015 gold production guidance of 715-730 thousand ounces.

"We have made good progress at our near-term development projects in the first half. Although we experienced some delays at San Julián, we are confident that stage 1 of the project will be commissioned early next year, and our Pyrites project remains on track to commence operations in 2017.

"Our advanced exploration projects are all progressing according to plan, with good exploration results achieved at Juanicipio and Centauro Deep, and a preliminary economic assessment underway for Orisyvo.

"The pricing environment remains challenging, with ongoing precious metals price volatility. Our strategic objectives remain unchanged and we continue to take a long-term view, but we will also take into account the effect of market dynamics on our operating assumptions, if necessary deferring expenditures without compromising the profitable growth we continue to deliver, as evidenced by our reduced capital expenditure estimate for the full year 2015."

FRES income is 50% from gold - Gold price is subdued probably because of near term
anticipation of reversal and a hike in USA interest rates after falling and being held
down for a few years.

They say it is not beneficial to hold gold, a none income generating asset, when you
can get interest paid in bonds etc, therefore a fall in gold price would be
anticipated if USA interest rates rise.

However it may be that anticipation of the USA interest rate rise is holding gold back, and when it does happen, as expected soon, the gold price may almost certainly fall,
but some say that removing the anticipation and threat would have a positive influence and although gold price would drop it should soon recover.

So I am not too worried about a USA interest rate rise, and hope not to be in FRES when it is announced, but would hope to buy back FRES after the fall in gold price

If USA job figures are good on 4 September, i.e more in work, that would encourage the
FED to hike USA interest rates, with anticipated initial fall in gold price.
If bad jobs figures, then interest rates may be held at current rates a little longer,
and gold price may rise a little perhaps.
So expect some FRES volatility on friday perhaps, when jobs figures are announced.

Think silver price may follow gold price, although silver is a more useful metal, however has been in downward tend for several years now I think, and is it near a bottom yet ?.

it is china's antics and gyrations that are currently holding centre stage

Mr Cynic - I do not get you
I am not talking about China - I was not born yesterday.

I am writing about the possible imminent movements of the price of gold, and silver,
and how they may soon effect FRES share price.

It is said that the FED may increase interest rates before the year end, and if so,
this would probably have a detrimental effect on share prices generally.
So look at USA jobs report on 4th, as less USA unemployment may indicate a
possible USA rate hike sooner rather than later.
Could be about Sept 16-17, or Oct 28 - 29, or Dec 16 - 17, when FOMC meet.
I am essentially relaying some economics that I have read elsewhere.

China is another matter entirely.

Gold and silver commodity prices seem weak today - USA job figures out on friday
are forecast to be good, which may hasten a rise in USA interest rates later this year.
FRES down at today's close to six year low, as 2009 - I suggest you wait a few days
for more established / stable gold and silver prices.

rek - i know you follow FRES to the exclusion of all others .... my comment was much more broadly based

whatever the merits or otherwise of FRES, when markets collapse or gyrate wildly, the effects are indiscriminate with the good being chucked down the plughole with the more questionable

MrCynic -
Yes I agree with you, "the effects are indiscriminate" however -

As long as production is good ( we see quarterly production reports ),
one can see the commodity prices of gold and silver instantly as they change.
Fresnillo ( the major silver producer ) income is essentially 50% gold and
50% silver by value. If gold and silver prices are usefully up at any time
and FRES is down, I wonder why, and this indicates I should hold on for a turn.

Together with sight of the NMIX index ( top 350 excluding finance co's ), and
gold and silver prices, I feel one can better assess FRES on a minute by
minute basis, and I could not do this with say RR., Weir Group, or any
bank . You could argue that if the price of any commodity changed - oil, iron
ore, nickel, etc the same would apply, however Fresnillo is essentially almost
a pure gold and silver play. A lot of major miners have a larger mix of
resources and being larger are less sensitive to commodity price changes.

For me it is presently being a successful day trading option as my costs are low,
although I need to give my system a few more months trial. I was caught with
my trousers down when the China problem occurred, but with profits I should
be able to weather the occasional "falling knife" loss.

I welcome you discussion and further thoughts you have on this plan, as I am
still searching for the perfect system and holy grail.

Mr Cynic - at this very moment FTSE is up 1.34% and gold is down 0.96% and silver
down 0.43% - I am presently short FRES and waiting to buy back to close at a
profit again. I do not need to make thousands, only a few hundred quid a day.

If FTSE holds around, up 1.50 %, then I anticipate FRES should drop back to some extent by the close from present 609, as also up without much justification.

Sold at 611.5p just bought back at 607p todays trade - pity I could have bought back back a bit cheaper but became impatient. 5000 shares Profit for today £219.66.

That will do for today, bit cloudy plus I have a cold so no swimming today
- Bob - Benidorm Spain

Sod - was finished for today but now sold, gone short again, 5000 at 618, as gold down silver up net effect nil, but FRES up about 3.5% and I do not know why. I neede to buy back at anything below about 617.50p

i have no magic ...... i'm just a plonker who sometimes gets it right :-)

I remain short 5000 sold at 618, will hold overnight and see what happens tomorrow.
Current buy price 622 so not too far off making a profit if there is a fall tomorrow.

Some good news came out after I went short, so shares generally soared for some reason. Pity we do not get news as soon as the guys in the City do.

As both gold and silver commodity prices came down, also FRES followed them down
towards the close from about 634p - thank god.

The commodity prices helped me make my judgement again.

quite surprised you aren't at all tempted by other quality miners such as RIO or BLT on the basis that hard commodities will always be required and the current share prices are shot to pieces

And Kaz great trading stock .

hardly quality though :-)

If it goes up and down and you can trade in and out it's quality in my book !