Fresnillo retains annual guidance despite lower quarterly gold and silver output

Fresnillo ($FRES) reported attributable quarterly silver production of 10.322 million ounces, down 11.6% on a comparison that includes the prior-period Silverstream contribution. Gold output fell 10.7% to approximately 135,100 ounces. Lower grades at Juanicipio, Saucito and San Julian affected silver production, while reduced processing at Herradura weighed on gold output. The update showed pressure across both principal metals rather than an isolated decline in one operation.

Nine-month attributable production totaled 32.371 million ounces of silver and approximately 425,900 ounces of gold. Fresnillo nevertheless maintained annual guidance of 42–46.5 million ounces of silver and 500,000–550,000 ounces of gold. The unchanged targets imply no new guidance reduction in this statement, despite the weaker quarterly figures. As a production report, it does not quantify the effect of realized metal prices, costs or exchange rates on revenue and profit.

Sources:

• Fresnillo — RNS production report via Investegate
• Investegate — issuer announcement index and publication clock