Business
2011 Preliminary Announcement
2011 Preliminary Announcement.
About this update from Fresnillo Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 0372C Fresnillo PLC 01 March 2011 \n \n\nFresnillo plc \n2011 Preliminary Announcement \n \n\n2010 Highlights\n\n \nOperational highlights\n· Record attributable silver production of 38.6 million ounces, up 1.7%\n· Record attributable gold production of 368,995 ounces, up 33.4%\n· First year of commercial operations at Soledad-Dipolos exceeded production budget\n· Ciénega expansion and Saucito development on track for start up in 1H 2011\n· Pre-feasibility study at the Noche Buena gold project concluded, construction commencing in Q1 2011\n· Discovery of new ore shoot at Saucito, adding over 76 million ounces of silver and 300,000 ounces of gold to resources\n· Positive drilling results obtained at several exploration projects and prospects\n· Total resources base increased by over 15%, with reserves replenished at existing mines\n· On track to produce 65 million ounces of silver and over 400,000 ounces of gold annually by 2018\n \nFinancial highlights\n· Adjusted revenue[1] up 56.1% to US$1,473.9 million\n \n· EBITDA[2] up 90.3% to US$945.0 million\n \n· EBITDA margin increases to 67.0%, from 58.4% in 2009\n \n· Cost controls and efficiency measures enabled Fresnillo to remain in the lowest quartile of the cost curve \n· Operating profit[3] up 94.4% to US$833.4 million\n \n· Profit attributable to equity shareholders of the Company, excluding the Silverstream revaluation effects up 72.3% to US$530.8 million (post Silverstream revaluation up 106.6% to US$665.5 million)\n· Adjusted EPS[4] up 72.1% to US$0.740 per share, EPS up 106.5% to US$0.927 per share\n \n· Final dividend of 35.6 US cents per ordinary share\n \n· Robust balance sheet with no debt and a strong cash position up 79.2% to US$559.5 million\n \nHighlights for 2010\n\n\n\n\n$ million unless stated\n\n\n2010\n\n\n2009\n\n\n% change...