logo-loader
viewFresnillo Plc

Fresnillo increases total silver resource to 1.1 billion ounces

silverbar350_49a27cf696cc6.jpg

Fresnillo (LSE:FRES), the world's largest primary silver producer, reported a slight increase in its total proven and probable silver reserves to 410 million ounces, and a 10.8% increase in its gold reserves to 4.1 million ounces.  There was a far larger increase in group resources (measured, indicated and inferred). Silver resources jumped 33.3% to 1.115 billion ounces while gold resources rose 26.3% to 12 million ounces.


In a separate press release, the FTSE 250 silver and gold producer announced record attributable silver production, for the 12 month period ended 31 December 2008, of 34.8 million ounces. Gold production for 2008 was 264,000 ounces.   Other financial highlights included an impressive 21.7% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) of US$337.4 million on revenues of US$839.6 million.


Fresnillo is proposing a final dividend payment of 7.7 US cents per share, and reminded investors that it has no debt and no hedging in place, so is benefiting from the strong silver and gold prices

Quick facts: Fresnillo Plc

Price: 794 GBX

LSE:FRES
Market: LSE
Market Cap: £5.85 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Duke Royalty Limited 'doing just fine' by maintaining a diversified...

Duke Royalty Limited (LON:DUKE) CEO Neil Johnson tells Proactive the provider of alternative capital solutions is 'doing just fine' and withstanding the current pandemic situation by maintaining a diversified portfolio. Johnson says Duke, which recently reported a trading update, has exposure...

2 days, 13 hours ago

2 min read