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 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?

I haven't held these for some time Stan. I held them as a stock which was part of a core portfolio for capital growth and from memory I did quite well. I assume trading them means keeping an eye on the price of both silver and gold and allowing for commodity cycles? Certainly possible to trade them and rarely any nasty surprises from this sector.

Thanks Harry, food for further thought.

Fresnillo on track http://www.moneyam.com/action/news/showArticle?id=5553852

Black Rock go above 5%.

StockMarketWire.com
Fresnillo's silver production - including Silverstream - rose to of 14.5 moz in the second quarter, 11.7% up on a year ago and 7.3% higher than the previous three months.

First half silver production totalled 28.0 moz, up 11.2% on a year ago.

It said this was primarily due to the start of operations at San Julian (phase I), higher ore processed at Fresnillo and higher ore grade at Cienega.

The group said quarterly gold production totalled 223 koz, up 2.7% on a year ago as a result of the contribution of San Julian (phase I).

It said the The turnaround plan at the Fresnillo mine continued to show positive signs as volume of ore processed increased for the fourth consecutive quarter and the group was on track to achieve 2017 production guidance of 58-61 moz silver (including Silverstream) and 870-900 koz gold.

Chief executive Octavio Alvadrez said: "I am pleased to report strong first half production results, with 28 million ounces of silver and over 445 thousand ounces of gold produced across our operating mines and from the Silverstream.

"The increase in silver production was primarily driven by the contribution of San Julian phase I and the higher ore processed at Fresnillo following the measures taken to increase production at the mine.

"Quarterly gold production also benefitted from the operations at San Julian (phase I), more than offsetting the expected lower production at Herradura and Noche Buena, and the lower gold ore grade at Saucito.

"We continue to advance our development projects. I am pleased to announce that the construction of San Julian (phase II) was concluded on time and on budget, and following tests with load in the second quarter, commercial production commenced in mid-July.

"Our short-term focus will be on ramping-up San Julian (phase II) to full capacity within the next two months and operating the Fresnillo mine once again at full capacity by year-end, whilst continuing to develop the infrastructure in order to prepare the mine for the future expansion.

"With this progress, we remain on course to meet our 2017 production guidance of 58-61 million ounces of silver and 870-900 thousand ounces of gold."

Interims http://www.moneyam.com/action/news/showArticle?id=5608809

StockMarketWire.com
Fresnillo has confirmed that all its operations, both mine sites and associated infrastructure in Mexico, were unaffected by the recent earthquake and continued as normal.

The group said there would be no impact on production.

In a statement, the company said it was deeply saddened by the terrible earthquake that struck Mexico on 19 Sep and its thoughts and sympathies were with all of those affected by the tragedy.

Fresnillo said its priority was the safety of its staff.

It said thatg following the earthquake the building of the company's corporate headquarters in Mexico City was assessed by specialists who confirmed there had been no structural damage and the building was declared fully safe to occupy.

All administrative functions were resumed after the assessment.

Third Quarter Production Report http://www.moneyam.com/action/news/showArticle?id=5716546

HSBC today upgrades its investment rating on Fresnillo PLC (LON:FRES) to buy (from hold) and cut its price target to 1570p (from 1760p).

StockMarketWire.com
Fresnillo's silver production (including Silverstream) rose 10.5% to 16 moz in the three months to the end of December compared to the third quarter of last year.

Quarterly silver production increased 10.5% vs. 3Q17, while 4Q17 silver production of 16.0 moz (including Silverstream) was up 20.3% vs. 4Q16.

The miner said that the upbeat quarterly output was driven by the first complete year of San Julian (phase I) operating at full capacity and the start-up of operations at San Julian (phase II)

Year to date silver production (including Silverstream) rose to 58.7 moz, up 16.6% versus year-to-date 2016.

Quarterly gold production of 232 koz decreased 13.4% versus 4Q16 due to a lower reduction of gold inventories at Herradura. While annual gold production of 911.1 koz exceeded guidance but decreased 2.6% versus 2016 due to the expected lower reduction of gold inventories and the anticipated lower ore grade deposited at the leaching pads at Herradura.

The group said the outlook on silver production was unchanged, expected to be in the range of 67 to 70 moz (including the Silverstream). Gold production expected to be in the range of 870-900 koz.

Chief executive Octavio Alvidrez said: 'I am pleased to report that Fresnillo has delivered a strong performance in 2017.'

'Construction of the Pyrites Plant project continued while further progress was achieved at the Dynamic Leaching Plant at Herradura,' Alvidrez said. 'We expect to commission both projects in 2018 and to see them contribute to our 2018 production.'

Citigroup today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and set its price target at 1360p.

StockMarketWire.com
Fresnillo reported pre-tax profit rose 3.2% to $741.5m in 2017, up from $718.2m, supported by record silver production.

Silver production rose 16.6% to 58.7m ounces in the year ended Dec. 31, as the first phase of San Julian silver and gold mine in Mexico operated at full capacity for the first full year.

Gold production for the year was 911,132 ounces, down 2.6% compared to the previous year.

Adjusted revenue was US$2,233.2m, up 9.2% compared to the prior year amid record silver volumes, an increase in zinc volumes sold and higher base metal prices.

Gross profit and EBITDA was US$925.4m and US$1,060.1m, up 4.9% and 2.7% respectively.

Capital expenditures was US$604.8m, up 39.3% compared to the period year, but below guidance, mainly due to lower capex at pyrites plant project and Juanicipio.

Silver production is expected to be in the range of 67m to 70m ounces this year while gold production is expected to be in the range of 870,000 to 900,000 ounces.

The company said it expects capital expenditure this year to be approximately US$755m.

Numis today upgrades its investment rating on Fresnillo PLC (LON:FRES) to add (from hold) and left its price target at 1450p.

Citigroup today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and set its price target at 1395p

StockMarketWire.com
Fresnillo reported increased production across it main products including gold and silver in the first quarter of the year but confirmed the fatality of a contract worker at its Saucito mine.

Quarterly silver production (including Silverstream) increased 14.0% compared to the first quarter of 2017, as San Julian operations reached full capacity offsetting lower production at Saucito.

Compared to the fourth quarter of 2017, silver production decreased 3.7% as a result of both the lower volume of ore processed and ore grade at Saucito and the lower ore grade at San Julian.

The miner confirmed it remained on track to achieve its 2018 silver production target of 67-70 moz.

Quarterly gold production increased 4.1% amid a continued drawdown of inventories and a higher ore grade at Herradura. The miner remained on track to deliver on its 2018 gold production target of 870-900 koz gold.

Lead production increased 1.5%, while Zinc production rose 37.9%.

The firm said the construction of the Pyrites plant in the Fresnillo district remained on track. Both the leaching plant at Saucito and second line of the Dynamic Leaching Plant at Herradura were due to be commissioned in the second quarter of the year.

Morgan Stanley today reaffirms its equal weight investment rating on Fresnillo PLC (LON:FRES) and cut its price target to 1330p (from 1620p).