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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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.

Business Financial Newswire
"Fresnillo said attributable silver production reached record levels in 2008; silver resources increased to 1.1 billion ounces from 837 million ounces, and gold resources reached 12.0 million ounces from 9.5 million ounces. EBITDA rose 21% in the year.

The company said EBITDA rose 21% in the year, while operating profit increased by 13.4% to $267m.

Net profit was $152m, which resulted in earnings per share of 18.6 cents, enabling a final dividend of 7.7 cents per share.

Fresnillo said it had a strong start to 2009, with silver production up 9% on last year and stable gold production. In US dollar terms, costs are declining compared to last year due to a higher exchange rate, lower input costs and our ongoing cost control programme.

'This year we are expecting the ongoing operational efficiencies at our mines to result in a slightly higher level of silver and gold production than that achieved in 2008', the group said.

Over the year, Fresnillo invested $800,000 in its sustainability programmes. "

Now up 700% in 6 months! How far can it go!

From the Blue Index blog

Solid Silver Service
May 27th, 2009

Its no secret that miners have for the most part enjoyed a strong recovery in 2009. Silver miner Fresnillo (FRES) in particular has produced one of those terrific top right hand corner charts that look so good in annual reports and presentations :)

For the time being at least that looks set to continue, after Fresnillo reported a strong start to 2009, with silver production up 9% on last year and stable gold production. Chairman Alberto Bailles said the companys costs were declining in US dollar terms compared to last year, due to a higher exchange rate, lower input costs and the companys ongoing cost control programme. He added he expected that ongoing operational efficiencies at our mines will result in a slightly higher level of silver and gold production than that achieved in 2008″, and reiterated the fundamentals of Fresnillo are strong.

Full transcript here
http://blog.blueindex.co.uk/2009/05/solid-silver-service/

Business Financial Newswire
"Silver miner Fresnillo has withdrawn its offer for MAG Silver because it is "no longer in the best interests of Fresnillo shareholders".

Fresnillo made its offer at the beginning of December but it says that even after this protracted period of time, it has not been possible to conclude the independent valuation of MAG required under applicable Canadian securities laws in order to permit the offer to proceed.

It adds: "Fresnillo considers that the document production order as issued by the OSC will require significant time, effort and money to be expended, without knowing even at this time - after more than 200 days since the offer was announced - whether a valuation will ever be received or the offer can ever be made.

"These risks to the successful completion of the transaction have resulted in Fresnillo's decision to withdraw its offer for MAG immediately.

"Despite the withdrawal of the offer, Fresnillo remains committed to the growth of the company, and our growth objectives remain intact." "

Just shorted FRES at 445p... graph looking desirable for a shorting.

The mining stocks are certainly getting hammered at the moment and Fresnillo is off its' high of 720+ by some 280 points. The outlook is good however in the long run according to many "experts"
Myself, I was wondering about getting back in,but not just yet.

Just goes to show that being elevated to the FTSE100 doesn't always mean solid support for the sp. Will be interesting to see if they can maintain their position next time round.

Certainly a healthy recovery (up 28) this morning.
It could be that the shake out in the mining sector is over,given the strong rebound today

No, it's not over. The worst is yet to come.

Gold Poised for Second Weekly Drop as Dollar Gain Cuts Demand
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By Glenys Sim

July 10 (Bloomberg) -- Gold traded little changed in Asia, headed for a second weekly decline after falling to a two-month low this week as the dollar rallied, curbing demand for the metal as a hedge against accelerating consumer prices.

Bullion is down 1.4 percent this month as the dollar advanced 0.5 percent against the euro in the same period. Gold slid to $905.10 an ounce July 8, the lowest since May 6.

In the near term, day to day moves continue to be influenced by the direction the dollar takes, Lin Haoxiang, analyst at Guotai Junan Securities, said from Shanghai today. In the longer term, inflationary expectations remain.

Gold for immediate delivery traded at $913.72 an ounce at 2:31 p.m. in Singapore, down 2 percent this week. August delivery futures on the Comex division of the New York Mercantile Exchange were down 0.4 percent at $913.

Gold holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, were unchanged at 1,109.81 metric tons as of yesterday, according to figures on its Web site.

The dollar was at $1.3964 per euro from $1.4020 late yesterday, tempering a rebound in commodities. A stronger U.S. currency cuts demand for raw materials priced in dollars.

Crude oil yesterday rebounded from a seven-week low, pacing an advance in commodities, after reports showed initial U.S. jobless claims dropped to the lowest since January and equities gained. The contract for August delivery was down 40 cents at $60 a barrel at 2:39 p.m. in Singapore.

Among other precious metals for immediate delivery, silver and platinum were little changed at $12.865 an ounce and $1,112.10 an ounce respectively, and palladium was up 1 percent at $237 an ounce.

To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net

Last Updated: July 10, 2009 03:10 EDT

now up about 75 points in less than a week,
hope the shorters didn't lose their shirt! Hey, that rhymes,I'm a poet and didn't know it.

2nd qtr production update due 16th July.

Board approves pre- feasibility study for first stage of Saucito project
Fresnillo plc is pleased to announce that the Board has approved the pre-feasibility study for the development of the first stage of Saucito project, in the Fresnillo region. The Saucito project is located approximately eight kilometres southwest of the Fresnillo mine and it aims to be another world class silver mine. The pre-feasibility study considers a 3,000 tonnes per day operation starting in 2011. The expected annual production at full capacity will be approximately 9 million ounces of silver and 45,000 ounces of gold. The first stage of the project only considers ore from the Saucito and Jarillas veins and does not include ore from the Mezquite, Madro, Santa Natalia and Valdecas East and West veins in the region as they need to be further explored. The estimated initial investment will be US$309 million with a sustaining capital of US$68 million over the life of the mine."

Business Financial Newswire
"Silver miner Fresnillo today reported first-half attributable net profit of $121m, down 14.1%.

Realised silver price in the period was $13.92 per oz, down 21.9%.

Fresnillo said it was hit by the weakness of the Mexican peso in relation to the US dollar.

Revenue fell 10.7% to $378.9m, while adjusted revenue of $426m was down 13.7%.

Total EBITDA was down 4.1% at $203.4m, down 4.1%, while EBITDA margin was up to 53.7% from 50%.

Cash generated by operations before changes in working capital was $234.3m, down 7.2%.

Earnings per share was 16.9 US cents and the interim dividend was set at 5.25 US cents per share.

Fresnillo said it had record attributable silver production of 18.8 million ounces in the half-year and silver volumes sold increased by 4.7% while gold volumes sold remained flat. "

Fresnillo starting to look tasty from a TA view. All that glitters is ......silver.

Should be looking to take recent high of 750p out over next few months?.

Business Financial Newswire
"Fresnillo started with buy rating at Numis, price target 915p"