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.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Currency and tax going against it.

I withdraw my initial take on the stock.

Still compared to non metals this is a glowing performance.......blush.

How conflicting the results between Reuters above and MoneyAM below... who is right???



Fresnillo full year revenues up 6.9% - MoneyAM


Silver producer Fresnillo saw full year revenue rise 6.9% to $839.6m.

The firm's silver production in the year to the end of December was a record 34.8 million ounces and it also produced 264,000 ounces of gold.

Operating profit increased 26.3% to $283.6m and earnings before interest, taxes, depreciation and amortisation rose 21.7% to $337.4m.

Looking ahead at 2009, the firm said it recognised that it would be affected by the same factors as the industry as a whole and its focus will be on critical capex and intermediate and advanced exploration projects, ensuring that its short- to medium-term targets are met.

Tricky to predict the immediate future for FRES as strengthening silver & gold prices might be offset by the declining mexican currency & stock prices:
"The peso declined 0.5 percent to 14.8564 per U.S. dollar, from 14.7774 on 20th Feb. At the end of last week it touched a record low of 14.9855.

Mexican stocks also tumbled. The Bolsa Index fell 1.1 percent to 18,125.39, extending its decline to 19 percent this year.

Mexicos currency has tumbled 32 percent over the past six months, the second-worst performance against the dollar among the worlds major currencies after the Brazilian real, as a deepening recession in the U.S. dries up dollar flows from exports, remittances, tourism and foreign direct investment.(Bloomberg)"

I think it's time to SELL Fresnillo again.

Yes, you may be right. Are you shorting it?

More info to digest:

"t1ps.com stocks reporting
Featured Stock: Fresnillo (FRES)

David Miranda of the AIM & PLUS Newsletter writes: Fresnillo has seen its shares rocket by more than 300% since November in what has been a remarkable recovery drive, spurred on by buoyant silver and gold prices. The precious metals miner recorded silver production of 34.8 million ounces in 2008, and gold production of 263,600 ounces. The company said it expects production levels for 2009 to be in-line with those of 2008, whilst it makes further investments in operating efficiencies coupled with ongoing cost control initiatives to help protect margins. At 416.5p, Fresnillo is trading on an estimated 2009 P/E of 20, which is at a premium to the gold sector average. Despite the bullish outlook for gold and silver, this looks to be a pretty full rating for a company that is predicted to report narrowed profits on flat production in the current year. On the other hand, it could be argued the high multiple is justified by Fresnillos exploration upside and exposure to spot silver prices.

Zak writes: The chart of Fresnillo is one of the most stunning on the LSE at the moment. The current position here is that we are looking at a stock which has just delivered a massive U shaped recovery and a golden moving average cross between the blue 50 day and black 200 day lines. The assumption now is that while above the green 10 day moving average at 390p the shares could return to their all time high of 575p. "

Yes, I'm shorting it. Tips.com is wrong, zak has written a lot of crap lately.

"BROKER NEWS - MoneyAM - Fresnillo upgraded to buy from hold at Investec, target price raised to 388p from 369p"

At the moment though,heading in the wrong direction

About turn,up 55 points ,but the whole sector has done much the same.

H98..... you are either out ot burnt to toast????.

Come on dont be shy which one is it?.

Dont forget Hlyeo this happens to us all at times.

As long as the winners are bigger than the losers theres no probs.

regards Gf.

Interesting point on FRES here and we should see buying ahead of the potential move to the FTSE 100....

05.03.09 :-10, (360) Platinum miner Lonmin, silver miner Fresnillo and oil services firm Petrofac are set to make a swift return to the FTSE 100 when the quarterly indexes reshuffle is unveiled next week. The three commodity-focused firms were among five companies -- the other two being Stagecoach and John Wood Group -- demoted from the blue chip index after the last review in December 2008. Bourse operator London Stock Exchange, private equity firm 3i Group, and plumbing supplies firm Wolseley are the likely candidates for demotion from the benchmark, according to analysts. FTSE International announces the changes to the FTSE UK index series after the market close on Wednesday, March 11. The review will be based on closing share prices from Tuesday, March 10, but the changes have to be confirmed by a FTSE committee on Wednesday. Companies outside the FTSE 100 that grow to rank among the 90 largest by market capitalisation are automatically promoted, while the FTSE 100 firms with the lowest value or that fall to 111th spot or below drop into the FTSE Midcap 250 index. With the mining and oils-related sectors remaining in focus, Lonmin, Fresnillo, and Petrofac have proved resilient enough to bounce straight back to bluechip status. Lonmin shares have recovered well since their expulsion in September, adding around 66 percent since early December as platinum prices rose, helped by sector consolidation hopes. Lonmin last year fought off a 5 billion pound ($7.07 billion) hostile takeover approach from Xstrata, but with the predator still holding a 24.9 percent stake in Lonmin, investors have been betting that a fresh bid is still likely. Firmer silver prices have helped Mexico-focused Fresnillo to rebound over 157 percent from its December 2008 levels, while Petrofac has been a beneficiary of a steadier oil price, gaining around 40 percent since its demotion from the blue chip index. London Stock Exchange shares have taken a tumble over the past quarter, down 27 percent as the equity markets collapse has continued, with the bourse also under intensified competition from new trading platforms such as Turquoise and Chi-X. The appointment of a new chief executive by the LSE last month only provided a temporary halt to the slide. Former Lehman Brothers banker Xavier Rolet is set to take over from Clara Furse on May 20. 3i Group has been on the slide as talk of a possible rights issue to shore up its balance sheet has dogged it. It has lost over 45 percent during the three months since December. The firm has unsuccessfully attempted to scotch the cash-call rumours and recently raised around 60 million pounds via the disposal of a 6.8 percent holding in its listed 3i Infrastructure business. Wolseley has also suffered on cash-call concerns, with the firm widely expected to launch a 1 billion pound rights issue, possibly as early as this week, in an attempt to get to grips with its 3 billion pound debt burden. The plumbing firm, shares in which have shed over 42 percent in the past three months, is also expected to unveil significant write-downs at its loss-making retail division, Stock, which is heavily exposed to the moribund U.S. housing market. The index changes will be implemented at the start of business on Monday March 23.

MoneyAM
"Silver and gold producer Fresnillo expects no material economic impact after a strike at the Met-Mex metallurgical complex.

Penoles said on Friday it had declared force majeure at the MetMex refinery after a five-week strike over pay paralysed work.

Fresnillo said: "As a result of the declaration of force majeure we will switch to alternative arrangements that we have begun to put in place with other smelters and refineries.

"This will include the dorand precipitates produced at the Herradura and Ciega mines as well as the lead concentrates from the Ciega and Fresnillo mines"."

One after hours buy of nearly 3.5 million shares.

"Fresnillo plc, the world's largest primary silver producer and
Mexico's second largest gold producer, is pleased to announce that it
has successfully concluded the 2009 annual wage negotiations with the
section of Mexico's Mining and Metal Workers Union at the Herradura
mine. The Union and the Company have agreed on a package that
includes a 6% wage increase, a 1% fringe benefits increase and a one
payment as a bonus of 1% of salary. Negotiations with each of the
sections of the Union at the Fresnillo and the Ci�nega mines will
commence over the coming weeks as these are negotiated separately.

The successful outcome demonstrates the good relationship between the
Union at the Herradura mine and Fresnillo plc."

Fresnillo silver production up 9%
MoneyAM
Silver production at mining group Fresnillo rose by 9% i the first quarter of this year to 9.2m ounces.

And the firm said gold production of 65,000 ounces was in line with its budget.

It added that construction at Soledad-Dipolos was progressing well and production was expected in the first quarter of 2010 while the drilling programme and construction activities at Saucito remain on track

What is needed next,is a rise in the price of silver

New article, click HERE

Business Financial Newswire
"Silver and gold producer Fresnillo has successfully concluded the pay talks with Mexico's Mining and Metal Workers' Union at the Ciega mine.

The union and the company have agreed to the same conditions as with the Herradura and Fresnillo mine workers.

Fresnillo has now concluded all wage negotiations with the Unions at all its mines for the year 2009. "

A very impressive looking chart to say the least! From 100 to 600 plus in 6 months .Are their any better performers in the entire market.