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

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"Silver miner Fresnillo has withdrawn its offer for MAG Silver because it is "no longer in the best interests of Fresnillo shareholders".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
Share | Email | Print | A A A

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"

Nice comment and analysis! Click HERE

What a fantastic stock this one has been too. Up some 800% in the last year.
Wow. Correction, only 700%!

Business Financial Newswire
"Fresnillo's 56%-owned joint venture Minera Penmont has submitted a binding proposal to acquire Canplats Resources Corporation at C$4.40 per share.

Canplats shareholders would receive C$4.20 in cash and a share in a new exploration company with a notional value of C$0.20.

The proposal by Minera Penmont follows the announcement in November that Canplats had entered into an acquisition agreement with Goldcorp Inc.

Fresnillo said Canplats had disclosed that its board had determined the proposed agreement with Penmont was a "superior proposal".

Goldcorp has a period of five business days expiring on Thursday, 31 December to offer to amend the terms of its agreement.

Newmont Mining holds the other 44% of Minera Penmont. "

Business Financial Newswire
Silver miner Fresnillo said today total revenue was up 18% to $850m in the year ended December 2009, with net attributable profit up 150% to $322m.

The average realised gold price was $988.9 per ounce and silver price $15.3 per ounce in the period.

EBITDA increased by 47% to $497m and earnings per share were 44.9 cents.

The group had net cash at the end of the period of $312m and no bank debt.

Fresnillo reported record attributable silver production of 37.9 million ounces, up 9%, with attributable gold production of 276,584 ounces, up 5%.

CEO, Jaime Lomelin, said: "I am pleased to report a strong set of financial results after a year of significant operational progress. We have achieved record attributable silver production, the completion of development works and the start up of operations at Soledad-Dipolos, advances at the Saucito project, substantial increase in total resources, and mineralisation extended at all exploration prospects. We enter 2010 with a strong cash position and no debt on the balance sheet and on track to achieve our aim of delivering one new mine or mine expansion per year until 2014."

Business Financial Newswire
"Silver miner Fresnillo reported attributable silver production of 9.5 million ounces in the quarter to end-March 2010, up 3% when compared to the first quarter of 2009, excluding the Sabinas Silverstream.

Quarterly attributable gold production increased by 31.5% over the same period last year to a record level of 85,097 ounces.

Soledad-Dipolos commercial production began in January 2010, with 11,226 attributable gold ounces.

The Saucito shaft has successfully started operations which will speed up the mine development.

The company said cost reduction efforts and efficiency initiatives are continuing. "

"Following its meeting on 28 April 2010, the Board of Directors of Fresnillo plc has declared a final dividend of 16.2 US cents per ordinary share in the Company for the year ended 31 December 2009. The final dividend will be paid on 2 June 2010 to shareholders in the register of members on 14 May 2010."

Harrycat
Any news of that takeover ?