Fresnillo (FRES) has seven operating mines all of them in Mexico. This impacted it in 2022 with Mexican labour reform challenges adding to the wider ones such as supply chain bottlenecks and cost inflation. In October a third quarter report concluded “remain on track to meet our 2022 full year guidance of 50.5 to 56.5 moz of attributable silver... and 600 to 650 koz of attributable gold production” and just yesterday the company was “pleased to confirm the final testing of the downstream power distribution and control systems at the Juanicipio project is now complete… commissioning of the project has formally begun. Ramp up will now be conducted at pace”.
Fresnillo (FRES) has announced first quarter of the year production including attributable silver production of 13.28 million ounces and gold production of 0.15 million ounces and that, despite challenges, “2022 guidance remains unchanged”.
Gold and silver miners have generally performed quite poorly as of late, and certainly when you consider the prices that the metals themselves have been trading at, and Fresnillo (FRES) has certainly been no exception. That is your opportunity and here is why.
Hello Share Takers. Normally, I avoid mining stocks, leaving that difficult area of expertise to my brilliant colleague Gary Newman. But I do hold shares in silver and gold miner Fresnillo (FRES). This is one of the biggest miners and commodity merchants on the planet. Now the price of gold has been disappointing lately, especially as the covid crisis was expected to send it further higher, but silver soaring has sent Fresnillo shares up by 20% as I write…
I can understand why investors are unwilling to sell, or short, companies which trade at a significant discount to NAV, some even being tempted to average down, or in the case of new, would be value seekers, to pile in. Particularly with indebted companies this is a dangerous game and more often than not, the bigger the discount, the bigger is the danger…
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Hello Share Shakers. I don’t need tell you that at last gold is in happy vogue again. This comes despite all the negative comments on this beautiful website over the last 12 months when lots of critics attacked the premise that gold prices would go up. Well, blow me down, as confidence in currencies and world economies diminishes, the price of the yellow stuff has risen nicely.
John Meyer of SP Angel this morning comments on First Quantum Minerals (FQM), Fresnillo (FRES), Ironveld (IRON) and Sirius Minerals (SXX) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Silver and gold prices have taken a tumble over the past couple of years but now seem to be settling. That has to be good news for Mexican miner Fresnillo (FRES) which has seen its share price more than halve over that period and now trades at around 810p with a market cap of £6 billion.