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Fresnillo maintains guidance as silver production falls, but gold rises in Q1
StockMarketWire.com
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Mining company Fresnillo kept its annual production guidance unchanged after reporting a fall in silver production, but a rise in gold production in the first quarter of the year.
Quarterly attributable silver production was down 2.4% and 4.5% in Q1 versus 4Q20 and 1Q20, respectively.
The fall in output was mainly due to the lower ore grade at Saucito.
Quarterly attributable gold production rose 5.9% TO 228.2 koz in 1Q20 versus 4Q20, and 15.9% versus 1Q20 due to higher ore grade at Herradura and Saucito.
Quarterly attributable by-product lead and zinc production decreased 14.8% and 16.8% respectively versus 4Q20.
Quarterly attributable by-product lead and zinc production increased 10.3% and 14.2% versus 1Q20.
'2021 guidance remains unchanged despite the continued uncertainty presented by Covid-19 in Mexico,' the company said.
Attributable silver production is expected to be in the range of 53.5 to 59.5 moz, while attributable gold production is expected to be in the range of 675 to 725 koz.
At 8:32am: (LON:FRES) Fresnillo PLC share price was 0p at 1124p
Story provided by StockMarketWire.com
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