An announcement from FRESNILLO ( (GB:FRES) ) is now available
Fresnillo plc has released its 2024 Annual Report and Accounts
along with the Notice of the 2025 Annual General Meeting
which will be available on the company’s website and the National Storage Mechanism
This announcement highlights Fresnillo’s commitment to transparency and shareholder engagement
reinforcing its strong position in the mining industry
According to Spark, TipRanks’ AI Analyst
Fresnillo’s strong financial performance and operational efficiencies drive its robust stock score
The company benefits from improving revenue and cash flow
but high valuation metrics and operational challenges at specific sites present risks
Technical indicators suggest neutral momentum in the short term
To see Spark’s full report on GB:FRES stock, click here
Fresnillo plc is the world’s largest primary silver producer and Mexico’s largest gold producer
listed on the London and Mexican Stock Exchanges under the symbol FRES
The company operates eight mines in Mexico and has exploration projects in Mexico
Fresnillo aims to maintain its position as the leading silver and gold producer
Learn more about FRES stock on TipRanks’ Stock Analysis page
Disclaimer & DisclosureReport an Issue
An announcement from FRESNILLO ( (GB:FRES) ) is now available
According to Spark, TipRanks’ AI Analyst
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2025) - Plata Latina Minerals Corporation (TSXV: PLA) ("Plata Latina" or the "Company") has completed the sale of the 3% net smelter return ("NSR") on the Naranjillo property for a total of US$6,000,000 (the "Transaction") to a wholly-owned subsidiary of Fresnillo plc ("Fresnillo")
2025 - "Plata Latina Announces Fresnillo to Purchase Naranjillo NSR for $8,610,000")
The Company retains a 2% NSR with Fortuna Mining Corp
Plata Latina Minerals is a growth-focused company focused on exploring strategic opportunities within the mining industry
With a strong cash balance and led by a highly experienced team with a proven track record in identifying
Plata Latina aims to create long-term value through acquisitions
partnerships and other strategic transactions
Plata Latina is actively evaluating opportunities
The Company also has a 2% NSR on the La Joya Project in Mexico
For more information, please contact:Patricia FongChief Financial OfficerTelephone: +1 800 933 9925 Email: info@plminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248149
SOURCE: Plata Latina Minerals Corporation
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Fresnillo's revenue amounted to approximately 3.64 billion U.S
that was an increase in revenue of nearly 800 million U.S
Fresnillo plc is a Mexico-based mining company
and the world's leading primary producer of silver
Adjusted revenue is revenue as disclosed in the income statement adjusted to exclude treatment and refining charges and metals prices hedging
This statistic was assembled using various editions of the annual report
Copper production in leading countries 2024
Gold production ranked by major countries 2024
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2025) - Plata Latina Minerals Corporation (TSXV: PLA) ("Plata Latina" or the "Company") announces that a wholly-owned subsidiary of Fresnillo plc ("Fresnillo") has exercised its right to purchase the 3% net smelter return ("NSR") on the Naranjillo property from Plata Latina for a total of US$6,000,000
"This purchase is a testament to the success of our exploration discovery at Naranjillo," commented Letitia Wong
"The cash brought in from this deal strengthens our balance sheet and greatly improves our competitiveness as we are actively seeking strategic growth opportunities."
The Transaction is expected to close before the end of March 2025
Fresnillo will no longer be obligated to pay advance royalty payments
The Naranjillo NSR is part of the option agreement announced on February 8
2017 titled "Plata Latina Enters Option Agreement with Fresnillo for Naranjillo Property"
Led by a highly experienced team with a proven track record in identifying
The Company currently has two royalties in its portfolio and receives annual advance royalty payments as a result of the successful discovery and sale of the Naranjillo project
For more information, please contact:Patricia FongChief Financial OfficerTelephone: +1 800 933 9925Email: info@plminerals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242573
2025 (GLOBE NEWSWIRE) -- Prime Mining Corp
(“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: 04V3) is reporting generative drilling results from the Company’s Los Reyes Project (the “Project”)
These results are from 2024 drilling at the Fresnillo and Mariposa targets and are not included in the Company’s October 15
Generative Drilling Highlights: Fresnillo – A Prime Original Discovery
two that intersected only Fresnillo structures
four that intersected both Noche Buena and Fresnillo structures
and eight that intersected Mariposa structures
Fresnillo is located between the Z-T and Central Trends with the following highlights in today’s results:
Chief Executive Officer Scott Hicks commented
“Fresnillo is an exciting early stage generative target at Los Reyes
we are sharing results that demonstrate a significant extension of approximately 120 metres up-dip of high grade
near-surface mineralization with both underground and open pit optionality and with further potential to continue expanding mineralization.”
and 24FRE-29 resulted in the extension of high-grade mineralization near-surface and roughly 120 metres up-dip from the stopes generated in the 2024 MRE for the Fresnillo target area
As these drillholes help to ‘fill in’ more sparsely drilled areas
their addition is likely to drive an increase to reportable Inferred ounces in future estimates for the Fresnillo area
Mineralization remains open along strike to the northwest of 24NB-69 and 24FRE-29 and will be tested by in-progress hole 25FRE-30.”
located between the Z-T and Central Trends
was first drilled as part of Prime’s 2022 drill program
It is a highly prospective earlier stage target which had no historical drilling or known workings
Fresnillo was defined by Prime’s mapping and geochemical sampling programs
Prime drilling to-date has intercepted several thick mineralized structures
roughly 120m up-dip extension of high-grade mineralization from stopes generated in the 2024 MRE for the Fresnillo target area
these drillholes were completed in a sparsely drilled area which did not meet data spacing criteria for open pit or underground Inferred Resources in the 2024 MRE
Their addition is therefore likely to drive an increase in reportable Inferred ounces in future estimates for the Fresnillo area
Mineralization remains open along strike to the northwest of 24NB-69 and 24FRE-29 and will be tested by planned hole 25FRE-30
Prime is also releasing eight holes from the Mariposa target
These holes were drilled from the hanging wall on the west side of the main Z-T structure into the target area with the intention of gaining a greater understanding of the structural setting
Existing access at Mariposa limited the drill pad locations but results have confirmed the continuation of the Z-T structure at Mariposa
Prime intends to extend access and continue expansion drilling in the Mariposa area in 2025
Figure 3: Fresnillo long section with drill holes highlighted (A-A’)* intercepts noted in long section below are along multiple structures*
Prime will continue to evaluate drilling plans using its success-based approach into 2025
This evaluation will also include prioritization of targets based on probability of resource development and generative area discovery potential
Prime has completed approximately 1,500 metres of drilling year to date
with six drill rigs currently on site at Los Reyes and drillers on standby
The exploration team is utilizing this opportunity to advance interpretation of geological data and soil samples in support of target identification
About the Los Reyes Gold and Silver Project
low-sulphidation epithermal gold-silver project located in Sinaloa State
Prime has spent more than $62 million on direct exploration activities and has completed over 220,000 metres of drilling
Prime announced an updated multi-million-ounce high-grade open pit and underground resource based on exploration drilling up to July 17
2024 Resource Statement1(based on a $1950/oz gold price
Exploration drilling suggests that the three known main deposit areas (Guadalupe
Central and Z-T) are larger than previously reported
Potential also exists for new discoveries where mineralized trends have been identified outside of the currently defined resource areas
Historic operating results indicate that an estimated 1 million ounces of gold and 60 million ounces of silver were recovered from five separate operations at Los Reyes between 1770 and 1990
recent operators of Los Reyes had spent approximately US$20 million on exploration
Drill core at the Los Reyes project is drilled in predominately HQ size (63.5 millimetres “mm”)
Drill core samples are generally 1.50 m long along the core axis with allowance for shorter or longer intervals if required to suit geological constraints
After logging intervals are identified to be sampled
the core is cut and one half is submitted for assay
RC drilling returns rock chips and fines from a 133.35 mm diameter tricone bit
The returns are homogenized and split into 2 halves
with one half submitted for analysis and the other half stored
Sample QA/QC measures include unmarked certified reference materials
and field duplicates as well as preparation duplicates are inserted into the sample sequence and make up approximately 8% of the samples submitted to the laboratory for each drill hole
Samples are picked up from the Project by the laboratory personnel and transported to their facilities in Durango or Hermosillo Mexico
Sample analysis is carried out by Bureau Veritas and ALS Labs
including over limits fire assay re-analysis
Mexico laboratories and multi-element analysis completed in North Vancouver
Drill core sample preparation includes fine crushing of the sample to at least 70% passing less than 2 mm
and pulverizing a 250-gram split to at least 85% passing 75 microns
Gold in diamond drill core is analyzed by fire assay and atomic absorption spectroscopy of a 30 g sample (code FA430 or Au-AA23)
Multi-element chemistry is analyzed by 4-Acid digestion of a 0.25-gram sample split (code MA300 or ME-ICP61) with detection by inductively coupled plasma emission spectrometer for a full suite of elements
Gold assay techniques FA430 and Au-AA23 have an upper detection limit of 10 ppm
Any sample that produces an over-limit gold value via the initial assay technique is sent for gravimetric finish via method FA-530 or Au-GRA21
Silver analyses by MA300 and ME-ICP61 have an upper limit of 200 ppm and 100 ppm
Samples with over-limit silver values are re-analyzed by fire assay with gravimetric finish FA530 or Au-GRA21
Both Bureau Veritas and ALS Labs are ISO/IEC accredited assay laboratories
2024 is classified in accordance with the Canadian Institute of Mining
Metallurgy and Petroleum (“CIM”) “CIM Definition Standards - For Mineral Resources and Mineral Reserves” adopted by the CIM Council (as amended
the “CIM Definition Standards”) and in accordance with the requirements of NI 43-101
Mineral resources are not mineral reserves and do not have demonstrated economic viability
Metres is represented by “m”; “etw” is Estimated True Width and is based on drill hole geometry or comparisons with other on-section drill holes; “Au” refers to gold
and “Ag” refers to silver; “g/t” is grams per metric tonne; some figures may not sum due to rounding; Composite assay grades presented in summary tables are calculated using a Au grade minimum average of 0.20 g/t or 1.0 g/t as indicated in “Au Cut-off” column of Summary Tables
Maximum internal waste included in any reported composite interval is 3.00 m
The 1.00 g/t Au cut-off is used to define higher-grade “cores” within the lower-grade halo
Gold equivalent grades are calculated based on an assumed gold price of US$1,950 per ounce and silver price of $25.24 per ounce
based on the formula AuEq grade (g/t) = Au grade + (Ag grade x $25.24 / $1,950)
Metallurgical recoveries are not considered in the in-situ grade estimate but are estimated to be 95.6% and 81% for gold and silver
and 73% and 25% respectively when heap-leached
Additional details are available in the associated Technical Report
is a Qualified Person for the purposes of NI 43-101 and has reviewed and approved the technical content in this news release
Prime is managed by an ideal mix of successful mining executives
strong capital markets personnel and experienced local operators all focused on unlocking the full potential of the Project
The Company has a well-planned capital structure with a strong management team and insider ownership
Prime is targeting a material resource expansion at Los Reyes through a combination of new generative area discoveries and growth
while also building on technical de-risking activities to support eventual project development
For further information, please visit https://www.primeminingcorp.ca/ or direct enquiries to:
Indi GopinathanVP Capital Markets & Business Development
Prime Mining Corp.710 – 1030 West Georgia St.Vancouver, BC V6E 2Y3 Canada+1(604) 238-1659info@primeminingcorp.ca
Investors Concerning Resource EstimatesThis news release has been prepared in accordance with the requirements of the securities laws in effect in Canada
which differ from the requirements of the U.S
and without limiting the generality of the foregoing
“inferred mineral resources,” “indicated mineral resources,” “measured mineral resources” and “mineral resources” used or referenced in this presentation are Canadian mineral disclosure terms as defined in accordance with NI 43-101 under the guidelines set out in the CIM Standards
The CIM Standards differ from the mineral property disclosure requirements of the U.S
Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the U.S
As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system
the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards
the Company’s disclosure of mineralization and other technical information may differ significantly from the information that would be disclosed had the Company prepared the information under the standards adopted under the SEC Modernization Rules
Forward Looking InformationThis news release contains certain “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities legislation as may be amended from time to time
statements regarding the perceived merit of the Company’s properties
including additional exploration potential of Los Reyes
potential quantity and/or grade of minerals
the potential size of the mineralized zone
and the Company’s exploration and development plans in Mexico
Forward-looking statements are statements that are not historical facts which address events
or developments that the Company expects to occur
Forward-looking statements are based on the beliefs
estimates and opinions of the Company’s management on the date the statements are made
and they involve several risks and uncertainties
Certain material assumptions regarding such forward-looking statements were made
silver and copper; the accuracy of mineral resource estimations; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained
including concession renewals and permitting; that political and legal developments will be consistent with current expectations; that currency and exchange rates will be consistent with current levels; and that there will be no significant disruptions affecting the Company or its properties
there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements
Forward-looking statements involve significant known and unknown risks and uncertainties
which could cause actual results to differ materially from those anticipated
but are not limited to: risks related to uncertainties inherent in the preparation of mineral resource estimates
including but not limited to changes to the cost assumptions
variations in quantity of mineralized material
changes to geotechnical or hydrogeological considerations
changes to availability of power or the power rates
delays and costs inherent to consulting and accommodating rights of local communities
commodity price and exchange rate fluctuations
risks relating to COVID-19 and other future pandemics
delays in or failure to receive access agreements
on-going receipt of amended and/or operating permits
risks inherent in the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies
availability of contractors and skilled labour
as well as those risk factors discussed in the Company's most recently filed management's discussion and analysis
as well as its annual information form dated March 25
Except as required by the securities disclosure laws and regulations applicable to the Company
the Company undertakes no obligation to update these forward-looking statements if management’s beliefs
https://www.globenewswire.com/NewsRoom/AttachmentNg/79e4d25f-c68e-4471-8b21-907e62330afe
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8faa990-0d62-4185-b469-14350366e29b
https://www.globenewswire.com/NewsRoom/AttachmentNg/0bf666ff-3ab1-4a9f-9f99-6dd638414c07
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It’s holding steady around $3,300 an ounce
sticky inflation and renewed trade tensions
some UK-listed names still look surprisingly cheap
After lagging behind the metal for much of the past few years
That’s around 20% ahead of the gold price itself
But UBS reckons the rally hasn’t gone far enough
including enterprise value to EBITDA (EV/EBITDA) and net present value (NPV)
The bank estimates that most miners are still pricing in gold at just $2,700 to $2,875 an ounce
one of the few FTSE-listed gold specialists
The shares are currently trading at a multiple of just 4.3 times forward earnings
suggesting the market is only pricing in a gold price of around $2,800 an ounce
given the metal’s current trajectory and the company’s steady production outlook
with operational issues and guidance downgrades weighing on sentiment
That’s pushed the valuation down to around 5 times EV/EBITDA
well below the long-term average of more than 10
UBS says the stock now prices in $2,850 gold and $33 silver
implying a lot of bad news is already reflected in the share price
the big streaming and royalty companies (Franco-Nevada and Wheaton Precious Metals) offer exposure to gold without the costs and complications of mining it
These businesses operate more like finance companies
taking a cut of production in return for upfront capital
but offer steady cash flow and fewer surprises
With the FTSE 100 offering limited direct exposure to gold
UK investors often buy overseas-listed names via funds or ETFs
But stocks like Endeavour and Fresnillo (both FTSE 250 constituents) offer a more direct route
and some UK-listed miners could offer a good way to catch the shine
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Operational challenges at the mine have sparked immediate discussions between the two companies
Precious metals mining company Fresnillo has secured notice over operational issues at Industrias Peñoles’ Sabinas mine
The Sabinas mine has been integral to the Silverstream Agreement between Fresnillo and Peñoles since December 2007
This Silverstream contract comprises a series of 12 agreements between Fresnillo and Penoles, following which the London-listed miner has the right to receive all proceeds from the payable silver, according to Mining Weekly.
The extent of the impact on the agreement is currently being assessed by both parties
is a key supplier of silver under the Silverstream Agreement with Fresnillo
The operational challenges at the mine have prompted immediate discussions between the two companies to evaluate the situation and its implications for the agreement
Don’t let policy changes catch you off guard
Stay proactive with real-time data and expert analysis
While it is premature to draw any definitive conclusions
Fresnillo has indicated that there is a reasonable possibility that these operational issues might lead to considerable revisions to the Silverstream Agreement
The company said it will offer an update as more data is available
the company is advancing four exploration projects
Last November, Coeur Mexicana, a subsidiary of Coeur Mining, signed an agreement with a Fresnillo subsidiary to acquire mining concessions in Mexico
The concessions lie next to Coeur’s Palmarejo gold-silver complex in Chihuahua
Coeur agreed to pay $25m (511.5m pesos) in cash and agreed to future royalties on specific ounces discovered on the acquired concessions
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Fresnillo PLC (LSE:FRES) shares plunged 7% as the precious metals miner posted a fall in silver and gold production in the first quarter of 2025 but reaffirmed its full-year production guidance
which is headquartered in London and listed in the FTSE 100
down 9.7% from the previous quarter and 8.4% year-on-year
The decline was attributed to lower ore grades and volumes at key mines and the cessation of mining at San Julián
Gold production rose 10.8% year-on-year to 156.1 thousand ounces
driven by improved grades and processing rates at Herradura
gold output fell 23.5% following the depletion of inventories processed in late 2024
Lead and zinc by-product production fell 10.9% and 12.8%
also reflecting the end of activity at San Julián and lower grades at Fresnillo and Ciénega
"We have started 2025 in line with our expectations
delivering a stable operating performance and maintaining the momentum we achieved in 2024," said CEO Octavio Alvídrez
as we account for the impact of cessation of mining activities at the San Julián DOB
although we expect to see a stronger second half performance
"Gold production is up on the same period last year
driven by a continued strong performance at Herradura
as well as the benefit of processing gold inventories accumulated in the previous period
we expect gold production to normalise in line with our guidance."
Fresnillo maintained its full-year production guidance
forecasting silver output between 49 and 56 million ounces and gold between 525.0 and 580.0 thousand ounces
The fall in the shares knocked off some of the recent gains
with the share price having risen over 60% since the start of the year due to rising gold and silver prices
Medicus Pharma CEO Dr Raza Bokhari joined Steve Darling from Proactive to announce a major strategic move: the company has entered into a binding letter of agreement to acquire Antev Ltd.
a next-generation GnRH antagonist aimed at..
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FRESNILLO ( (GB:FRES) ) has shared an announcement
Fresnillo PLC reported a strong financial performance for 2024
driven by higher precious metal prices and operational efficiencies
The company achieved a 26.9% increase in adjusted revenue to $3.64 billion and more than doubled its EBITDA to $1.55 billion
Fresnillo maintained a robust financial position
returning a total of $547.5 million to shareholders through dividends
The company also made significant progress in operational improvements and exploration projects
Fresnillo PLC is a leading precious metals mining company
primarily focused on the production of silver and gold
It operates several mines in Mexico and is known for its operational discipline and cost efficiency strategies
Technical Sentiment Consensus Rating: Sell
See more insights into FRES stock on TipRanks’ Stock Analysis page
FRESNILLO ( (GB:FRES) ) has shared an announcement
Plata Latina Minerals ( (TSE:PLA) ) has provided an update
Plata Latina Minerals announced that Fresnillo plc will purchase the 3% net smelter return on the Naranjillo property for US$6,000,000
strengthening Plata Latina’s balance sheet and enhancing its competitiveness
will relieve Fresnillo of advance royalty payments
while Plata Latina retains a 2% NSR on the La Joya project
positioning the company for strategic growth
Plata Latina Minerals is a growth-focused company in the mining industry
dedicated to exploring strategic opportunities
aims to create long-term value through acquisitions
Plata Latina currently holds two royalties in its portfolio and is actively evaluating new opportunities
See more insights into PLA stock on TipRanks’ Stock Analysis page
Plata Latina Minerals ( (TSE:PLA) ) has provided an update
EventsSIGN UPSIGN INbullishFresnillo PLCWatchlistFresnillo Plc: Initiation of Coverage- An Insight into Its Strategic CapExEquity Bottom-Up475 Views26 Apr 2025 14:00Fresnillo plc reported its preliminary results for the fiscal year 2024
revealing a mixed performance that highlights both strengths and...What is covered in the Full Insight:Overview of Fresnillo plc's PerformanceOperational Challenges and External PressuresProduction Guidance AchievementIndependent Valuation Using DCFSensitivity and Scenario AnalysisSUMMARY(Sign Up to Access)Try NowBegin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to: Unlock research summaries Follow top
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ShareBy SC Staff(Adobe Stock)
Major Mexican precious metals mining firm Fresnillo had its data compromised following a cyberattack against some of its IT systems, BleepingComputer reports
SC StaffMay 2
has pleaded guilty to infiltrating Disneys internal communications and stealing over 1.1 terabytes of confidential data by deploying malware disguised as an AI image generation tool
the largest radio station owner in the United States
experienced a data breach in December 2024 that exposed sensitive personal information
including Social Security and passport numbers
SC StaffMay 1
BleepingComputer reports that major data protection solutions provider Commvault did not have its customer backup data compromised following a state-sponsored cyberattack against its Azure environment initially disclosed in early March
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Fresnillo PLC (LSE:FRES) shares headed higher on Friday after the miner was granted an upgrade by Berenberg analysts
Results earlier in March reflected improving financials
but also operational stability and better cost control
underpins better visibility on shareholder returns,” analysts added
as Fresnillo was taken from a ‘hold’ to a ‘buy’ rating
Results had shown a near seven-fold increase in operating profit to $945.8 million for last year
as a special dividend was also declared to take shareholder returns to $547.5 million
Berenberg noted there was “scope” for other special payouts
were gold and silver prices to remain elevated
given Fresnillo’s now strong balance sheet
Autonomix Medical CEO Brad Hauser joined Steve Darling from Proactive to announce a significant milestone in the company’s development of breakthrough neuro-modulation technology
The company has released a compelling new video testimonial from a patient who participated in the initial phase of..
this Fool argues that the falling Fresnillo share price may not remain in the doldrums for too long
The value of your investments can go down as well as up and you may get back less than you put in
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Investments in a currency other than sterling are exposed to currency exchange risk
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The Fresnillo (LSE: FRES) share price tanked 9% in early trading
following the release of a disappointing set of Q1 production numbers
with gold prices continuing to charge higher
this could be the opportunity investors late to the precious metals party have been waiting for
The extraordinary run up in the Fresnillo share price over the past year
came to a shuddering halt today (23 April)
when it released a disappointing set of production numbers
gold production was down 23.5% and silver 9.7%
The declines were primarily attributable to lower ore grade and volume of ore processed at a number of its mines
Silver production was also hit by the cessation of mining activities at San Julián DOB (disseminated ore body)
Silver production is expected to be in the range of 49 to 56 moz
Gold production in the range of 525 to 580 koz
One lesson I have learnt after a few years investing in precious metals mining stocks is not to be unduly concerned by quarter to quarter production figures
There’s no denying that mining operations are hard. And to me, they’re getting harder. Over the past few years, Fresnillo has been beset by a number of challenges. Government regulations around the use of contractors caused it significant problems, while soaring inflation impacting its costs hit its bottom line
changing government policies extended permitting processes for mining operations and projects
Such regulations caused delays in the start-up of Juanicipio’s beneficiation plant
as well as tie-in of its Pyrites plant to the national electricity grid
Soaring prices have made gold the talk of the town these days
many private investors are yet to really wake up to the opportunity here
One only has to look at the continued interest in buying the dip on the falling Magnificent 7 stocks for evidence of that
Maybe the extraordinary price rise for the yellow metal
means that many expect a significant pullback
there is a real possibility of this happening
But the long-term picture couldn’t be rosier
Central banks continue to accumulate gold in record volumes
The amount of repatriation of the physical stuff from London and New York vaults over the past few months has been simply unprecedented
The upheaval caused by the Trump administration tells me that we are entering a completely new economic and macro regime
The investing lessons that have worked for the past 20 years
What I really like about Fresnillo is that it has exposure both to gold and silver
silver prices remain stuck in the low $30 range
When silver will explode is anyone’s guess
But I remain convinced that it eventually it will make its big move
The window for investors to consider getting in and capitalising on a bull market for precious metals is still there. As yet, the crowd is nowhere. That’s why I remain invested in the stock
the value of your investment may rise or fall and your capital is at risk
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Fresnillo Plc Follow | FRES reported a 9.7% quarter-on-quarter decline in attributable silver production to 12.4 million ounces for the first quarter of the year on Wednesday
including output from the Silverstream contract.The FTSE 100 precious metals miner said the drop was mainly due to lower ore grades and processing volumes at Saucito
and reduced throughput at San Julián Veins
despite higher grades at Fresnillo and increased Silverstream contributions
Gold production totalled 156,100 ounces in the quarter
a 23.5% fall from the previous quarter due to lower grades and reduced ore volumes at key assets including Herradura
By-product lead and zinc production also declined sequentially
as grades and volumes weakened across multiple sites and San Julián DOB ceased operations
lead production was flat while zinc output declined
largely reflecting reduced contribution from San Julián and lower volumes at Fresnillo
The company reaffirmed its full-year production guidance
expecting silver output between 49.0 and 56.0 million ounces
and gold production between 525,000 and 580,000 ounces
Lead and zinc guidance was also maintained
at 56,000 to 62,000 tonnes and 93,000 to 103,000 tonnes respectively
Fresnillo said it was still targeting total silver equivalent production of 91 million to 102 million ounces for the year
The miner said its safety performance remained a top priority
with ongoing efforts to reinforce training and adherence to protocols as part of its zero fatalities objective
It added that its production outlook for 2026 and 2027 remains unchanged
"We have started 2025 in line with our expectations
delivering a stable operating performance and maintaining the momentum we achieved in 2024," said chief executive officer Octavio Alvídrez
"Our full year guidance remains unchanged; silver production is down as anticipated
"Gold production is up on the same period last year
as well as the benefit of processing gold inventories accumulated in the previous period."
Alvídrez said that with those inventories now depleted
Fresnillo expected gold production to normalise in line with its guidance
our operations remain well-aligned with our plan
positioning us well to capitalise on stronger precious metals prices
supported by a favourable Mexican peso-USD exchange rate
"We are focused on sustaining our operational stability
maintaining our strong financial performance and delivering value to our stakeholders throughout 2025
with our core priority as always being the safety of our people and the well-being of our communities."
shares in Fresnillo were down 7.84% at 956.13p
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Fresnillo Plc Follow | FRES reported a 9.7% quarter-on-quarter decline in attributable silver production to 12.4 million ounces for the first quarter of the year on Wednesday
\"We have started 2025 in line with our expectations
delivering a stable operating performance and maintaining the momentum we achieved in 2024,\" said chief executive officer Octavio Alvídrez
\"Our full year guidance remains unchanged; silver production is down as anticipated
\"Gold production is up on the same period last year
as well as the benefit of processing gold inventories accumulated in the previous period.\"
\"We are focused on sustaining our operational stability
with our core priority as always being the safety of our people and the well-being of our communities.\"
Shares in precious metals miners Fresnillo PLC (LSE:FRES) and Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) led the FTSE 100 in early trading on Tuesday
buoyed by a surge in gold prices to an all-time high
Spot gold began to challenge the $3,500 an ounce level during the morning session
driven by investor demand for safe-haven assets amid political tensions in the US
The rally came after fresh criticism from President Donald Trump directed at Federal Reserve Chair Jerome Powell
reigniting concerns over US economic policy
Trump’s remarks pushed investors away from US assets
weighing on the dollar and lifting bullion
the price of the yellow metal was $3,482.06
Fresnillo jumped 3.4% early on, while Endeavour was up 3.3%. Among the juniors, Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN) was the stand-out with a 5% gain
“Gold continues to grab headlines for reaching new all-time highs above $2,900 an ounce this year but silver is up by a third in the past twelve months and it trades near eleven-year highs around $32 an ounce
and this is all good news for Fresnillo,” says AJ Bell investment director Russ Mould
“The miner’s 2024 results show a big jump in profits and a huge increase in its dividend
as well as a special dividend worth $0.418
“Equity investors clearly do not share commodity traders’ enthusiasm for precious metals and their producers
Fresnillo’s shares are less than half their level of 2013 when silver last traded above $30 an ounce
“Sceptics will counter by arguing that the precious metal had peaked two years earlier
Bulls will assert that the trend in silver looks much more encouraging
“Silver surfers will also assert that silver is cheap relative to gold
whereas the post-1971 average is just 61 times
since it is the world’s largest silver miner
although extracting precious metals from a mine is never as simple as it sounds
Changes to Mexico’s mining laws are one complication
permits that focus on specific minerals and not just whole areas and stricter environmental requirements
there are rules that stipulate how much subcontracted labour may be used
as are its four advanced exploration projects
Management may therefore also be watching the tariff to-and-fro with America with keen interest
“Fresnillo’s silver output for 2024 was flat at 56.3 million ounces
and modest declines are expected for 2025 and 2026
Gold output rose slightly in 2024 to 632,000 ounces but again declines are expected for the next two years
mid-point of management guidance for 2024-26E
“Despite some of the regulatory obstacles it faced
Fresnillo managed to reduce its all-in sustained cost (AISC) of silver output to $22 an ounce from $22.9 in 2023
given how the silver price is some $10 an ounce higher than that and analysts expect a further increase in pre-tax income in the coming year
“The price of silver will have a huge say in that and Fresnillo trades on barely 10 times forward earnings
a sizeable discount to the 14 times rating currently afforded the wider FTSE 100 index
That gap reflects the commodity nature of the miner’s products and the sensitivity of its profits to even minor changes in the silver price
“A sustained run in silver could see earnings forecasts increase and the shares re-rate
if investor confidence in a bull run in precious metal grows
and the market could well slap an even lower multiple on Fresnillo’s earnings were silver prices to ebb.”
Russ Mould’s long experience of the capital markets began in 1991 when he became a Fund Manager at a leading provider of life insurance
working as an Equity Analyst covering the technology sector for 12 years
Russ eventually joined Shares magazine in November 2005 as Technology Correspondent and became Editor of the magazine in July 2008
Following the acquisition of Shares' parent company
he was appointed as AJ Bell’s Investment Director in summer 2013
Mobile: 07710 356 331Email: russ.mould@ajbell.co.uk
Fresnillo PLC (LSE:FRES) dropped 6% as the Mexican gold and silver miner warned that Penoles
was having production trouble at the Sabinas mine
is covered by the Silverstream Agreement entered into by Fresnillo and Peñoles in December 2007
Fresnillo is entitled to receive all the proceeds (before treatment and refining charges) minus US$5.0 per ounce (plus inflation as of 2013) of payable silver produced by Sabinas
Fresnillo said it has started discussions with Peñoles to assess the extent of these operational difficulties and any associated impact on the Silverstream Agreement
“Although it is too early to reach any specific conclusions
at this time Fresnillo considers that there is a reasonable likelihood that the process may lead to significant adjustments to the Silverstream Agreement.”
For the complete transcript of the earnings call, please refer to the full earnings call transcript
Gold miners Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES)were among the top performers on the FTSE 100 as gold prices surged past $2,900 per ounce on Monday
The rally follows comments from US President Donald Trump
who announced plans for reciprocal tariffs on multiple countries
Trump also confirmed a 25% tariff on all steel and aluminium imports but did not specify a timeline
Investors are also focused on Federal Reserve Chair Jerome Powell’s upcoming testimony to US lawmakers
Powell is expected to emphasise the economy’s resilience
reinforcing expectations that interest rates will remain unchanged in March
concerns over high gold prices have led some Chinese buyers to pause purchases
analysts suggest gold could soon test the $3,000 level
Fresnillo was up 2.8% with Endeavour ahead 2.3%
Fresnillo PLC (LSE:FRES) and Endeavour Mining were among the top FTSE 100 fallers going into the final hour of Thursday trading
The declines come as gold prices ease following a sharp rally that has seen the metal gain more than 10% over the past six sessions
Although the broader outlook for gold remains strong
geopolitical uncertainty and a soft US dollar
Prices briefly touched 3,300 dollars an ounce
Technical analysts suggest a move lower toward 3,200 dollars could be healthy
offering a chance for value investors to re-enter
Some traders are now eyeing 3,500 dollars as a medium-term target
although near-term consolidation looks likely as momentum cools
Race Oncology Ltd managing director Daniel Tillett talked with Proactive about the company's recent milestone in dosing the first patient in its Phase 1 clinical trial of RC220 for advanced solid tumours.Tillett explained the years-long development effort behind RC220
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With record cash profits come record dividends; it’s only fair. Mexican silver and gold miner Fresnillo (FRES) will pay a 42¢-a-share special dividend for the 2024 financial year
This compares with just 5.6¢ a share last year and is also well ahead of the previous record dividend from 2017
with a total bill of $575mn (£456mn) against $298mn.
Fresnillo’s $1.6bn cash profit for the year was well ahead of previous highs of $1bn a decade ago
and twice the figures from 2023 and 2022.
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sans-serif);font-weight:var(--chakra-fontWeights-normal);line-height:23px;}@media screen and (min-width: 0px){.css-1bi0btv{font-size:1rem;}}@media screen and (min-width: 992px){.css-1bi0btv{font-size:calc(1rem + 2px);}}Exposure to precious metals and with the added benefit of dividend income
up from 5.6 cents per share in 2023Special dividend of 41.8 cents per shareNet cash held of $458 million (£362 million)
improved from net debt of $304 million a year agoChief Executive Octavio Alvidrez said:
"I am pleased to report a solid financial performance for Fresnillo in 2024
underpinned by higher precious metal prices
and a continued focus on cost efficiencies
we remain committed to responsible growth with the safety of our people at its heart
and advancing our exploration pipeline to ensure long-term value creation for our stakeholders.”
Higher precious metal prices combined with cost savings helped adjusted annual 2024 profit (EBITDA) more than double to $1.55 billion (£1.22 billion)
A final dividend of 26.1 US cents per share
payable to eligible shareholders on 30 May
takes the total ordinary payment to 32.5 cents per share
An unexpected special dividend of 41.8 cents per share
brings the total payout for the year to $547.5 million – the top of Fresnillo’s 33-50% dividend policy payout ratio
Shares in the FTSE 100 company rose 3% in UK trading having come into these latest results up by close to 60% over the last year. That’s similar to Anglo American (LSE:AAL) and comfortably above a 15% improvement for the FTSE 100 index over that time
Fresnillo operates a series of mines across Mexico
It is the world's largest primary silver producer and Mexico's largest gold producer
Average realised prices for the group’s mined silver and gold over the year rose by 21.7% and 25.3% respectively
That helped the miner’s adjusted revenue climb 27% to $3.64 billion
Total silver production was flat at 56,307 kilo ounces (kOz)
Silver production for 2025 is expected to come in at between 49 kOz and 56 kOz
Fresnillo forecasts capital expenditure or investment in operations during 2025 to total between $520 million and $530 million
up from a previous estimate of $490 million
Group net cash as of 31 December stood at $458 million
improved from net debt of $304 million a year ago
A first-quarter production update is scheduled for 23 April
Fresnillo shares are listed both on the Mexico and London Stock Exchanges
The group employs around 7,000 people at eight mines across Mexico including Fresnillo
as well as four advanced exploration projects
It also owns mining concessions and exploration projects in Peru and Chile
More favourably, a focus on improving operational efficiency persists. Group expansion projects include the full commissioning of the San Carlos shaft at the Fresnillo mine. A price-to-net asset value below the three-year average suggests improved value, while net cash held compares to a position of net debt at the end of 2023.
In all, projected flat to reduced production for key commodity silver in 2025 offers some caution. That said, potential for special dividends and what equates to a 2024 dividend yield of over 7%, is likely to keep fans of this precious metals play happy.
The average rating of stock market analysts:
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
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Fresnillo’s share price (LON:FRES) rose by +2.51% as the company published its fourth quarter production data which showed gold volumes rose
Miner Fresnillo posted its Q4 2024 production update today but it was very much a mixed bag
Silver production fell by -5.10% to 13.70 million ounces whilst gold production jumped by +30.10% to 203.90 thousand ounces
Lead and Zinc volumes also fell by -4.80% and -10.40% during the quarter
production of both these industrial metals was higher
there have been several changes at Fresnillo with the San Julian DOB mine ceasing activities in November
whilst the miner’s Noche Buena facility is in wind-down
Elsewhere excavations at Saucito and San Julián Veins have shown improved grades and processing volumes
operations at Herradura have shown marked improvement in both ore grades and recovery rates
Fresnillo’s new operations seem to be offsetting any drag on performance incurred by its legacy mines and activities
Gold production in Q4 was +30.10% higher than it was in Q3 which allowed the miner to exceed its internal production target of between 580 and 630 thousand ounces
In fact Fresnillo mined 631.60 thousand ounces of the yellow metal thanks in no small part to increased efficiency and output at its Herradura facility the dip in Silver production can largely be attributed to the closure of San Julien DOB
improvements at two newer sites have helped to offset this shortfall
allowing Fresnillo’s silver production to fall within its target range of 55.0-62.0 million ounces
Fresnillo’s share price has reacted positively to the update rising by +2.82% part of a +23.0% gain seen over the last 12-months
That’s pretty impressive when you consider that a strong US dollar is normally negative for commodity prices and producers
Looking out to 2025 Fresnillo expects to produce between 49 to 56 million ounces of Silver and between 525 and 580 thousand ounces of gold though production level forecasts for 2026 and 2027 are slightly lower than these figures
That in combination with a PE ratio a fraction below 25 times and the impressive 12-month stock price performance
leads me to think that Fresnillo has had its run for now
Darren is a highly respected and knowledgeable industry expert
he has a vast knowledge covering every aspect of the financial markets
Darren has acted for and advised major hedge funds and investment banks such as GLG
In addition to the financial analysis and commentary he provides as an editor at GoodMoneyGuide.com
his work has been featured in publications including Fool.co.uk
As well as extensive experience of writing financial commentary, he previously worked as a Market Research & Client Relationships Manager at Admiral Markets UK Ltd, before providing expert insights as a market analyst at Pepperstone
Darren is an expert in areas like currency
equities and derivatives and has authored over 260 guides on GoodMoneyGuide.com
he has provided interviews on Bloomberg (UK)
You can contact Darren at darrensinden@goodmoneyguide.com
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has completed the Phase-VI diamond drilling program of 2,000.8 metres in eight holes on the Coneto Gold-Silver Project
The Loma Verde target area was the focus for Phase-VI drilling
Results include hole BCO-85 yielding a core length of 15.00 metres (true thickness 11.50 m) grading 0.75 g/t Au and 174 g/t Ag for a gold-equivalent of 3.02 g/t
plus hole BCO-89 yielding a core length of 4.50 metres (true thickness 3.90 m) grading 1.70 g/t Au and 180 g/t Ag for a gold-equivalent of 4.05 g/t
“The Loma Verde vein was intercepted in every hole in this phase of the program
thus confirming the strong continuity over 1.2 km strike length
There is also further depth potential with the down-dip of the mineralized shoots
as each precious metal accounts for roughly half the contained value.”
For the purposes of gold and silver equivalent values
the long-term metal prices of gold $1,750/oz and silver $23/oz were applied
Gold to silver price ratios vary over time
Base metals value are scattered and non-economic
the Coneto Project has had five previous phases of diamond drilling from 2010 to 2017
totaling 106 drill holes for 38,515.67 metres
This drilling formed the basis of an independent mineral resource estimate announced in a news release dated October 27
The new drilling brings the total to 114 drill holes for 40,516.47 metres
The 2021 Inferred Mineral Resources stands at 5,325,000 tonnes
grading 1.67 g/t gold and 112 g/t silver for a gold-equivalent grade of 3.15 g/t
Contained metal totals 286,000 oz gold and 19,111,000 oz silver
Coneto is situated around the town of Coneto de Comonfort
It is approximately 100 km north of the City of Durango and 25 km west of Argonaut’s El Castillo Gold Mine
This prolific trend hosts some of the world’s largest silver camps and deposits
The project consists of approximately 4,997 hectares (11,860 acres) of contiguous mineral concessions and covers over 40 discrete mineralized low to intermediate-sulphidation epithermal quartz veins
Excellent infrastructure exists in the Coneto area
water and manpower from nearby communities
Orex Minerals has several current projects: Two projects are located in Durango State
the Sandra Silver-Gold Project with Pan American Silver Corp
and the Coneto Gold-Silver Project with Fresnillo PLC
A third project is the Jumping Josephine Gold Project in British Columbia
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