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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on hol we're going to cascais (near lisbon) which we enjoyed very much last year and wonderful fish

this year's cycling trip is southern brittany

RBC Capital Markets today downgrades its investment rating on Fresnillo PLC (LON:FRES) to underperform (from sector performer) and raised its price target to 750p (from 610p).

Ex-divi Thurs 21st April 2016 (3¢)

StockMarketWire.com
Fresnillo's gold production rose to 230 koz in the threee months to the end of March - up 26.3% on the first quarter of last year and up 6.5% on the previous quarter.

This was mainly due to a higher speed of recovery at Herradura now steady state has been reached, and a higher speed of recovery at Noche Buena.

Quarterly silver production totalled 12.2 moz (including Silverstream), broadly in line with 1Q15 and 4Q15.

This was the third consecutive quarter of improvements in grade and production at the Fresnillo mine and the group says it is evidence of progression of turnaround plan.

Construction at San Julian remains on track. The leaching plant (stage 1) is expected to be commissioned in 2Q16 and the flotation plant (stage 2) in 4Q16.

The group says it is on track to achieve 2016 production guidance of 49-51 moz silver, (including 4.0 moz from the Silverstream), and 775-790 koz gold

Chief executive Octavio Alvadrez said: "I am pleased to report a solid quarter of production, with 230 thousand ounces of gold and 12.2 million ounces of silver produced across our mines and from the Silverstream contract.

"In particular, we saw a significant improvement in grades at the Fresnillo mine during the quarter, to 236 grammes per tonne - the third consecutive quarter of improvement in both grade and production - as the turnaround at this mine progresses following the measures we have put in place. This continues to be a core area of focus for the Group.

"Our San Julian project is advancing towards production, with commissioning of the first phase on track for the second quarter, and the second phase by the year end.

"We continue to focus on maximising efficiency and productivity across all our mines, and are on course to meet our 2016 production guidance of 49-51 million ounces of silver and 775-790 thousand ounces of gold."

JP Morgan Cazenove today reaffirms its overweight investment rating on Fresnillo PLC (LON:FRES) and raised its price target to 980p (from 950p).

Macquarie today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and set its price target at 1000p.

Citigroup today downgrades its investment rating on Fresnillo PLC (LON:FRES) to sell (from neutral).

That's easy to say.. but why?

Blimey, top riser today so far. Brokers are hopeless!

StockMarketWire.com
Fresnillo has completed construction of the first phase of its San Julian project in Mexico on time and on budget but the milling facility will not be up and running regularly until early August due to a technical problem.

Fresnillo says that after a few days of testings and starting to feed the mill continuously, a minor technical failure occurred, which led to a malfunctioning of the lubrication system, causing wear of the mill pads.

Fresnillo says this kind of event is often experienced during the start-up of a new project, but it was quickly identified and is being addressed.

The company now expects the milling facility to be up and running regularly towards the first week of August, at which point the mill will gradually be taken up to full capacity.

Despite this technical issue, the company confirms its guidance of 775-790 koz of gold and 49-51 moz of silver for 2016 as the higher than expected volumes produced at Saucito will compensate for the shortfall production at San Julian.

The US$515 million San Julian silver-gold project has an expected average production of 10.3 million ounces of silver and 44,000 ounces of gold per year once phase 2 is commissioned by year-end and it reaches full capacity.

Macquarie today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and raised its price target to 1600p (from 1000p).

StockMarketWire.com
Fresnillo (FRES) reported quarterly silver production of 13 moz (including Silverstream), up 14.5% compared to 2Q15.

This is also 6.3% more compared to 1Q16, and first half silver production of 25.2 moz (including Silverstream), up 6.1% vs. 1H15, mainly due to increased ore processed at Saucito and higher ore grades at Cienega.

HIGHLIGHTS:
- Quarterly gold production of 218 koz, up 19.6% vs. 2Q15, and first half gold production of 448 koz, up 23% vs. 1H15, due to a higher speed of recovery and higher ore volumes processed at Herradura, and a higher speed of recovery at Noche Buena.

- Quarterly gold production down 5.3% vs. 1Q16 due to a temporary reduction in the flow of rich solution processed whilst maintenance work was carried out at the Herradura storage pond.

- Construction of the leaching plant (stage 1) at San Julian completed on time and on budget. However, as previously announced, a technical problem with the mill means regular production expected to resume by first week of August.

- Full year gold guidance raised to 850-870 koz from 775-790 koz; full year silver production remains on track (49-51 moz, including Silverstream).

CEO Octavio Alvidrez said: "I am pleased to report solid second quarter production, with 13 million ounces of silver and 218 thousand ounces of gold produced from across our mines and the Silverstream contract.

"We continue to progress the turnaround at our Fresnillo mine, consolidating the improvements already made.

"I am confident that we remain on track to return Fresnillo to a more satisfactory operating level, and expect full year silver production at this mine to show an increase of around 6% compared to 2015.

"Construction of the leaching plant at our San Julian mine was completed on time and on budget at the end of the second quarter.

"As we previously announced, we expect to resume regular production by the first week of August, post a minor issue with the lubrication system at the mill.

"Our full year silver production guidance remains unchanged, as higher than expected volumes produced at Saucito will compensate for the shortfall in production at San Julian.

"Looking ahead, we are today raising our gold production guidance for the full year to 850-870 thousand ounces, and remain on track to meet our silver production guidance of 49-51 million ounces."

StockMarketWire.com
Fresnillo's profits rose by 116.9% to $165.6m in the six months to the end of June with silver production up 6.1% to 25.2 moz - including Silverstream - and gold output increasing to 448 koz, up 23.0%.

Full year gold production guidance has been raised to 850-870 koz from 775-790 koz and full year silver production remains on track (49-51 moz, including Silverstream).

Other highlights:
- Basic and diluted EPS US$22.7 cents per share, up 118.3%

- Cash generated from operations of US$475.2m, up 50.9%

- Strong balance sheet maintained - cash, cash equivalents and short-term investments of US$701.2m

- Interim dividend of US$63.4m (8.6 US cents per share) declared reflecting Board's confidence in the Company's financial position and outlook; no change to previously stated policy

- Construction of the leaching plant (stage 1) at San Julian completed, with production expected to re-start in the coming days

- Centauro Extension project and resumption of Pyrites project approved by the Board

Chief executive Octavio Alvidrez said: "We have had a solid first half operationally, with silver and gold production up 6% and 23% respectively. Silver production was driven by another strong performance at Saucito following the ramp-up of Saucito II and the plant optimisation, higher grades at Cianega, and higher ore grades and production at the Fresnillo mine.

"We continue to progress the turnaround at Fresnillo, consolidating the improvements already made. Gold production was driven by increased output from our open pit mines, Herradura and Noche Buena. I am confident we are well-placed to meet our 2016 silver production guidance of 49-51 million ounces, and our recently increased 2016 gold production guidance of 850-870 thousand ounces.

"The first half saw construction of the leaching plant at our new San Julian mine completed. As previously reported, we expect to re-start feeding ore to the mill in the coming days, post a minor issue with the lubrication system. Phase 2 of this project remains on track for commissioning by year end. Looking further forward, the first half also saw Board approval for the resumption of the Pyrites plant project, thanks to improved market conditions, and the approval of the Centauro Extension project at Herradura, encompassing a second line to the Dynamic Leaching Plant. I am also pleased to report that our ongoing exploration activity yielded interesting drill results at San Julian, Guanajuato and Fresnillo.

"Precious metals prices have performed strongly since the start of the year, and our mines have seen increased production, resulting in robust financial results. However, we are maintaining our cautious approach, with strict operational and financial discipline, and investment decisions will continue to be evaluated on a project by project basis against key criteria. This is in line with our Contingency Plan, which we put in place early this year and which remains in place.

"Our strategic objectives remain unchanged and we will continue to take a long-term view, focusing on balancing profitable growth with returns, whilst maintaining a solid financial position. Thanks to this conservative approach we remain well placed to create value throughout price cycles, with our high quality, low cost assets and significant growth pipeline, combined with our balance sheet strength."

StockMarketWire.com
Fresnillo has announced that the the milling facility at San Julian (phase 1) has been processing ore and the leaching plant operating normally for a week. Further details on the restart and production at San Julian (phase 1) will be provided in Fresnillo's 3Q production report, due to be published on 12 October.

Fresnillo is a share to avoid at all costs as this is a Mexican play and gold is dropping like a rock. Now 1150p.

StockMarketWire.com
Fresnillo achieved record production in 2016, having produced 50.3 moz of silver and 935.5 koz of gold.

Silver production - including Silverstream - was up 7.1% vs. 2015, in line with guidance and 4Q16 silver production of 13.3 moz - including Silverstream - was up 9.5% vs. 4Q15, mainly due to the start up of San Julian phase I.

A higher ore grade at Cienega and an increased contribution from the Silverstream also had a positive impact on production.

Quarterly silver production increased 13.1% vs. 3Q16 due to San Julian (phase I) ramp-up, higher ore processed at Saucito and a higher ore grade and ore processed at Fresnillo.

Record annual gold production of 935.5 koz was up 22.8% vs. 2015 and ahead of guidance, mainly due to reduced gold inventories at Herradura.

Additionally the San Julian (phase I) start-up and an improved overall average speed of recovery at Noche Buena contributed

Quarterly gold production increased 24.2% vs. 4Q15 and 22.0% vs. 3Q16 mainly due to reduced gold inventories at Herradura and the San Julian start up.

For 2017 silver production is expected to be in the range of 58-61 moz including 4 moz from the Silverstream while gold production is expected to be in the range of 870-900 koz, due mainly to the stabilisation of production at Herradura following the reduction in inventories.

Chief executive Octavio Alvadrez said: "I am pleased to report that Fresnillo plc has delivered record production in 2016, having produced 50.3 moz of silver and 935.5 koz of gold.

"The successful ramp-up of San Julian (phase I) was the principal reason for the 7% increase in annual silver production, although higher silver grades at both Cienega and Fresnillo also contributed to the rise in production.

"At the Fresnillo mine, despite reporting a slight improvement in silver production, we continued to experience some issues during the year that impacted the delivery of our turnaround plan.

"We have however, implemented a number of measures and remain focused on addressing these issues and are targeting a year-on-year increase in silver production in the range of 7-10% at the mine in 2017.

"Our 2016 gold production of 935.5 koz exceeded our revised guidance, primarily due to the reduction of inventories at Herradura. The start-up of San Julian (phase I) and a strong performance at Noche Buena also contributed to the increase to gold production.

"We continued to make good progress with our development projects in 2016. Construction of San Julian phase II continued to advance and is on track to be commissioned in the second quarter of 2017, with both phases of San Julian producing a combined annual average of 10.3 moz of silver and 44 koz of gold.

"Further progress was made at the Pyrites Plant project which is set to deliver 3.5 moz silver and 13 koz a year once commissioned in 1H18, while the construction of the second line of the Dynamic Leaching Plant at Herradura remained on track.

"Looking ahead, our 2017 gold production is anticipated to be between 870-890 koz as we expect to reach a steady level of inventories after last year's inventory reductions at Herradura; whilst silver production is expected to be within the range of 58-61 moz, on track to reach 65moz by 2018."

StockMarketWire.com
Fresnillo posts strong overall performance for the uyear to the end of December with record silver production of 50.3 million ounces.

The group said this was in line with guidance, reflecting the initial contribution of San Julian phase I and higher grades at Fresnillo and Cienega, while gold production of 935.5 thousand ounces exceeded revised guidance.

Thew group said adjusted revenue of US$2,045.0 million was up 29.2% on increased volumes and higher metal prices.

Gross profit and EBITDA of US$882.1 million and US$1,032.0 million, were up 103.7% and 88.5% respectively.

Profit from continuing operations before net finance costs and income tax of US$676.5 million was up 237.5%.

It said the evaluation of the Mexican peso against the US dollar positively affected production costs.

Cost per tonne and cash cost decreased at all mines, due to devaluation of Mexican peso and cost reduction initiatives.

Chief executive Octavio Alvidrez said: "I am pleased to report a strong overall performance in 2016.

"We delivered record silver production of 50.3 million ounces, in line with our guidance, reflecting the initial contribution of San Julian phase I and higher grades at Fresnillo and Cianega.

"Gold production of 935.5 thousand ounces exceeded our revised guidance, mainly as a result of the reduction in inventories at Herradura.

"Our record production, combined with higher metal prices and the devaluation of the Mexican peso during the year allowed us to deliver strong financial results in 2016 and as a result the Board has recommended a final dividend of 21.5 cents per share, equivalent to approximately US$158.4 million.

"At the Fresnillo mine, despite reporting a slight improvement in silver production in 2016, we continued to experience some issues that impacted the delivery of our turnaround plan.

"However, we have implemented additional measures to increase mine preparation and expect a gradual improvement in production in 2017.

"San Julian phase I was commissioned in the third quarter and contributed to our record annual production.

"It is now operating at levels above its designed capacity.

"Despite taking the decision to delay the start-up of San Julian phase II, we are pleased with the progress made during the year and are confident that this second phase will be commissioned in the second quarter of 2017.

"We continued to optimise our operations in 2016; we not only made good progress with our development projects but we also increased our resource base.

"The pyrites plant and second line of the dynamic leaching plant at Herradura advanced largely according to plan, with commissioning of both due in 2018, and our exploration work resulted in an increase of our resource base at our operating mines and at projects where we have identified strong potential.

"Our solid operational performance, together with higher prices, lower costs and the favourable effect of the devaluation of the Mexican peso allowed us to almost double the cash generation from our mines.

"This more than offset our capital expenditure and the payment of dividends, resulting in the Company having a cash, cash equivalents and short-term investments balance of US$912.0 million, which increased by US$412.5 million from 2015 to 2016.

"Regrettably, we did not achieve our target of zero fatal accidents in 2016.

"We have put in place a number of safety programmes and best practices at all of our operations and our focus remains on prioritising safety in all of our activities and continuing to strengthen our safety culture.

"For 2017, we expect further increases in production with silver reaching the 58-61 million ounces range (including Silverstream) and gold production to be between 870-900 thousand ounces.

"Capital expenditure is anticipated to be approximately US$800 million and exploration expenses US$160 million, including the capitalised portion.

"We will continue to focus on delivering further cost reductions and productivity improvements in 2017 as well as improving our safety performance to meet our zero harm target.

"Our performance in 2016 again demonstrated the quality of our asset base and our low-cost and flexible operations.

"I am confident that with our focus on operational delivery, disciplined approach to investment and clear commitment to sustainable business practices, we can continue to optimise our performance and maintain our strong financial position to deliver considerable long-term value for our shareholders."

StockMarketWire.com
Fresnillo's silver production rose to 13.5 m/oz (including Silverstream) in the three months to the end of March - up 10.7% on a year ago.

The group said this was mainly due to the contribution of San Julian (phase I).

And it said it was on track to achieve 2017 production guidance of 58-61 moz silver, (including 4.0 moz from the Silverstream).

Quarterly gold production of 222.3 koz was down 3.3% on a year ago and 17.1% lower than the previous three months.

Fresnillo said this was mainly due to the one-off reduction of inventory levels at the leaching pads in Herradura in 2016 and expected lower ore grades at Herradura.

Fresnillo's said it was on track to meet 2017 production guidance of 870-900 koz gold.

Chief executive Octavio Alvadrez said: "I am pleased to report a solid performance in the first quarter of the year.

"Silver production increased 10.7% compared to the first quarter of 2016 reflecting the contribution of the new San Julian (phase I) mine. "The turnaround at Fresnillo continues with improvements in the maintenance process and enhanced operative supervision resulting in an increase in silver production.

"Additionally, access to the Taspana and the new Rosario-Transversal areas at Cianega contributed favourably. "As guided, gold production decreased slightly when compared to the first quarter of last year and Q4 2016 mainly because of the one-off reduction of inventories in 2016. "We continue to make good progress with our development projects. Construction of San Julian (phase II) continued with the commencement of initial tests and the project is on track to be commissioned at the end of Q2.

"The pyrites plant and second line of the dynamic leaching plant are also progressing as expected. "We continue to focus on maximising efficiency and productivity across all our mines, and remain on course to meet our 2017 production guidance of 58-61 million ounces of silver and 870-900 thousand ounces of gold."

Black Rock go below 5%.

Harry I'm just revisiting FRES as a possible future share to trade, do you hold or trade these yourself?

Comparing these with RRS it seems that FRES (as far as trading goes) moves more, would you agree?