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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Yes this one is very susceptible to sentiment regarding interest rates, and consequently those who move into gold to hedge against low and lower rates.

Lower interest rates often mean higher gold price, but also one needs to watch the £ / $ movements, as lower $ may mean higher gold price.
Also when FT index rises or falls FRES does not necesserely follow index.
Not so straight forward trading in this one I think.


Also if Mexican peso falls then FRES may make cost savings
I still trade FRES on a daily basis - sometimes long sometimes short,
Turnover by value seems to be about 50% silver and 50% gold

It has been dropping for the past 3 or 4 trading days

Could easily be down to 850p soon

except that if the markets turn unsettled, which is far from impossible, you could easily be caught on the wrong side

Mr Cynic
"turn unsettled" - do you mean if we get unanticipated good or bad news
i.e Reports from US or China mainly ? This applies to almost all shares valuations

I am off to Philippines for a month holiday this week end .. that's my good news

referendum, sell in may syndrome + anything else

wife's home?
my younger son loves it over there and indeed the whole region
does a lot of scuba as well

Cynic - yes wife's home Philippines - I have never been before - but spent 30 years in Malawi, Nigeria, Cameroon, 2 years Saudi, 1 year Guyana Sth. America - am 71 now so just need to relax in the warmth. Looking forward to seeing Asia. Do you still go to France each year ? Maybe this year you should try northern Spain which is not over crowded and very scenic.

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.