Fresnillo, FOURTH QUARTER PRODUCTION REPORT FOR THE THREE MONTHS ENDED 31 DECEMBER 2022.

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Overig advies 26/01/2023 12:43
Octavio Alvídrez, Chief Executive Officer, said:
“Fresnillo reports a solid operating result in the fourth quarter, with full year production in line with our guidance. In particular
silver output was driven by a strong performance from our Fresnillo mine which is showing consistent improvement and the
continued contribution of our new Juanicipio project offsetting the expected lower grades at San Julián. During the year we have
worked hard to minimise the impact of a very tight labour market and to mitigate the impact of the labour reform in Mexico.
Our recruitment and training campaigns are now complete and the mines are well staffed for 2023. A key highlight in the fourth
quarter was the successful tie-in to the national electricity grid of our new Juanicipio mine. Commissioning is ongoing and we
expect a gradual ramp up in the coming months. We very much look forward to seeing this major new project deliver on its
potential, making a sizeable addition to our overall production for many years to come.”
HIGHLIGHTS
Silver
? Full year attributable silver production of 53.7 moz (including Silverstream), in line with guidance, slightly above
FY21 with production from Juanicipio and increased volumes of ore processed at Fresnillo, offset by the lower
ore grade at San Julián (DOB).
? Quarterly attributable silver production of 12.5 moz (including Silverstream), down 7.8% vs. 3Q22 with stronger
performances at the Fresnillo mine and San Julián (veins) offset by lower production at other mines, and a decrease
in production from the Silverstream.
? Quarterly attributable silver production (including Silverstream) decreased 3.0% vs. 4Q21 due to a decrease in
ore throughput and lower ore grade at San Julián (DOB) and Ciénega, mitigated by increased volumes of ore
processed and higher ore grades at Fresnillo.
Gold
? Full year attributable gold production of 635.9 koz, in line with guidance, down 15.3% vs. FY21, primarily due to a
lower recovery rate as higher volumes of sulphide ore are processed and lower ore grade at Herradura, and a
decrease in the volume of ore processed and lower ore grades at Noche Buena, Saucito and Ciénega.
? Quarterly attributable gold production of 168.0 koz, up 5.5% vs. 3Q22, mainly due to an increase in volumes of
ore deposited at Herradura, partly offset by decreased volumes of ore processed and a lower recovery rate at
Noche Buena and lower ore grade and a decrease in ore throughput at Saucito.
? Quarterly attributable gold production increased 11.7% vs. 4Q21 driven by increased volumes of ore deposited
and higher ore grades at Herradura, partly offset by decreased volumes of ore deposited and lower ore grade at
Noche Buena.

2
By-Products
• Full year attributable by-product lead production decreased 6.4% vs. FY21 due to a decrease in the volume of ore
processed and lower ore grade at Saucito and decreased ore grade at San Julián (DOB), mitigated by increased ore
throughput and higher ore grade at Fresnillo and increased contribution from Juanicipio.
• Quarterly attributable by-product lead production decreased 4.9% vs. 3Q22 due to decreased ore throughput and
lower ore grade at Saucito and a lower volume of ore processed from Juanicipio.
• Quarterly attributable by-product zinc production decreased 9.8% vs. 3Q22 due to a decreased volume of ore
processed and lower ore grades at Saucito and Fresnillo, and lower contribution from Juanicipio.
• Quarterly attributable by-product lead production increased 7.8% vs. 4Q21 driven primarily by increased volumes
of ore processed and higher ore grades at Fresnillo and increased contribution from Juanicipio, partly offset by lower ore throughput at Saucito.

see & read more on
http://www.fresnilloplc.com/media/537134/4Q22-Production-Report-Final-def.pdf



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