Fresnillo Plc maintains the silver guidance for the full year

Fresnillo Plc (LON: FRES) has released its second-quarter production report for the period ended 30 June 2020.

  • The company has reported that due to resilient production performance with further progress made on the mine improvement initiatives, it was able to maintain the silver guidance for the full year.
  • However, the company reduced its gold guidance due to COVID-19 related working restrictions largely at the Noche Buena and Herradura mines.
  • The company’s quarterly silver production was of 13.6 moz, up by 2.8 per cent as compared to Q1FY20. The quarterly gold production stood at 184.4 koz down 6.4 per cent as compared to the same quarter last year.
  • On 22nd July 2020, at the time of writing, GMT 11:56 AM, FRES shares were trading at GBX 1,166.50, up 97.50 points or 9.12% against the previous day closing price.