The world?s elite silver miners just finished reporting their operating results from 2016?s first quarter, and they were impressive. This industry continued to drive its costs lower even as silver finally started mean reverting out of mid-December?s deep secular low. The silver miners are beautifully positioned to enjoy soaring operating profits as silver?s young new bull market continues gradually marching higher on balance..
Fresnillo meldet die Produktionszahlen für das 2. Quartal 2017. Inklusive des Silverstreams wurden 14,5 Moz Silber und 223 koz Gold gefördert. Damit liegt die Produktion in H1/2017 bei 25,8 Moz Silber und 446 koz Gold.
Quarterly silver production of 14.6 moz (including Silverstream), up 24.1% vs. 3Q16 (11.8 moz) primarily due to the start of operations at San Julián phase II and ramp up of phase I
Year to date (YTD) silver production of 42.7 moz (including Silverstream), up 15.3% vs. YTD16 (37.0 moz), due to the contribution from the new San Julián mine (phase I and II), increased volume of ore processed at Fresnillo and higher ore grade at Ciénega
Quarterly gold production of 233 koz, up 6.1% vs. 3Q16 (220 koz) due to the contribution from San Julián, a reduction in gold inventories and increased volume of ore deposited at Herradura
YTD gold production of 679 koz, up 1.7% vs. YTD16 (667 koz) due to the contribution of San Julián partly offset by the lower speed of recovery at Noche Buena and lower ore grades at Herradura and Saucito
Ore processing nameplate capacity at San Julián phase II achieved during its first quarter of operations (3Q17)
Outlook unchanged:on track to achieve 2017 production guidance of 58-61 moz silver (including Silverstream) and 870-900 koz gold
Record annual silver production of 58.7 moz (including Silverstream) up 16.6% vs. 2016, in line with guidance primarily as a result of the first complete year of San Julián (phase I) operating at full capacity and the start-up of operations at San Julián (phase II)
4Q17 silver production of 16.0 moz (including Silverstream) up 20.3% vs. 4Q16 due to the start-up of operations at San Julián (phase II)
Quarterly silver production increased 10.5% vs. 3Q17 due to the first complete quarter of San Julián (phase II) operating at full capacity, higher ore grade at Fresnillo and higher volume of ore processed at Saucito
Annual gold production of 911.1 koz exceeded guidance principally as a result of the full year operations at San Julián (phase I). Gold production slightly decreased -2.6% vs. 2016 due to the expected lower reduction of gold inventories and the anticipated lower ore grade deposited at the leaching pads at Herradura
Quarterly gold production of 232 koz decreased -13.4% vs. 4Q16 due to a lower reduction of gold inventories at Herradura
Quarterly gold production of 234 koz, up 4.6% vs. 2Q17 due to the higher ore grade, throughput and recovery rate at Saucito and the higher ore grades at Noche Buena, Herradura and Fresnillo
First half gold production of 465 koz up 4.4% vs. 1H17, due to the ongoing decrease in gold inventories and higher ore grade at Herradura and higher volume of ore processed and ore grade at Saucito
Ongoing tests at the Herradura leaching pads have resulted in an increase of 98.9 koz of gold in the inventory as of 1 January 2018.
Full year consolidated production guidance has been revised marginally: total gold production to 900 - 930 koz (previously 870 - 900 koz) and total silver production to 64.5 - 67.5 moz (previously 67 - 70 moz) including Silverstream.
?Quarterly silver production of 15.5 moz (including Silverstream), up 6.3% vs. 3Q17 due to the contribution of the new Pyrites Plant, higher ore grades at Fresnillo, Herradura and Ciénega, and higher volumes of ore milled at San Julián phase II. 3Q18 production in line with 2Q18.
?Year to date silver production (including Silverstream) of 46.3 moz, up 8.5% vs. YTD17 mainly as a result of the start of operations at San Julián JM (PhaseII) in July 2017.
?Quarterly gold production of 225 koz, down 3.5% vs. 3Q17 as a result of higher than normal speed in the recovery rate at the leaching pads in 3Q17 and the lower grade and volume of ore deposited on the pads at Herradura in 3Q18.
?Quarterly gold production down 3.7% vs. 2Q18 mainly due to a lower speed in the recovery rate at the leaching pads at Herradura in 3Q18, and the lower ore grade and recovery rate at Noche Buena.
?Year to date gold production of 690 koz, up 1.7% vs. YTD17 mainly due tohigher ore grade at Saucito and a higher volume of ore processed at Noche Buena.
?Full year consolidated production guidance has been revised marginally: total gold production to 920 ? 940 koz (previously 900 ?930 koz) and total silver production to 62.0 ? 64.5 moz (previously 64.5 ? 67.5 moz) including Silverstream due to continued challenges at the Saucito and Fresnillo mines,which are currently being addressed.