Analyst Views | What were the highlights from Fresnillo’s production update?

JONATHAN GUY RBC CAPITAL MARKETS

The weakness in silver was offset by stronger-than-expected gold production. Annual targets are expected to be met, with gold targets likely to be exceeded, in our view. There was good progress recorded at key development projects as well as with brownfield exploration.

CAILEY BARKER NUMIS SECURITIES

Another strong quarter with 10.3m ounces of silver and 127,000 ounces of gold, beating our forecast. Higher production from the Saucito mine helped offset lower grades from Fresnillo, while gold was higher due to Noche Buena ramping up. Fresnillo remains our preferred silver play.

JONATHAN JACKSON KILLIK & CO

The group is on track to achieve annual silver production target of 41m ounces and 460,000 ounces of gold. On the exploration side, significant progress has been made in the drilling programme in the Herradura District where encouraging results were obtained at Tajitos.