Business
Production Report for the 3 months ended 31 Mar 16
Production Report for the 3 months ended 31 Mar 16.
About this update from Fresnillo Plc
[{"type":"text","content":"\n \nRNS Number : 9879U Fresnillo PLC 13 April 2016 \n\n Fresnillo plc\n21 Upper Brook Street\nLondon W1K 7PY\nUnited Kingdom\nwww.fresnilloplc.com\n \n13 April 2016\n \nProduction Report \nfor the three months ended 31 March 2016\nOverview\n \n· Quarterly gold production of 230 koz, up 26.3% vs. 1Q15 and up 6.5% vs. 4Q15 mainly due to a higher speed of recovery at Herradura now steady state has been reached, and a higher speed of recovery at Noche Buena \n· Quarterly silver production of 12.2 moz (including Silverstream), broadly in line with 1Q15 and 4Q15 \n· Third consecutive quarter of improvements in grade and production at the Fresnillo mine, evidence of progression of turnaround plan\n· Construction at San Julián remains on track. The leaching plant (stage 1) is expected to be commissioned in 2Q16 and the flotation plant (stage 2) in 4Q16 \n· On track to achieve 2016 production guidance of 49-51 moz silver, (including 4.0 moz from the Silverstream), and 775-790 koz gold\nOctavio Alvídrez, Chief Executive Officer, said:\n\"I am pleased to report a solid quarter of production, with 230 thousand ounces of gold and 12.2 million ounces of silver produced across our mines and from the Silverstream contract. In particular, we saw a significant improvement in grades at the Fresnillo mine during the quarter, to 236 grammes per tonne - the third consecutive quarter of improvement in both grade and production - as the turnaround at this mine progresses following the measures we have put in place. This continues to be a core area ...