Fresnillo reiterates production targets

17th Aug 2009 07:16

Silver miner Fresnillo saw revenue slide in the first half of 2009 as the price of silver declined.Revenue in the six months to 30 June 2009 was down 10.7% from a year earlier to $378.9m, as the realised silver price over the period dropped 21.9% to $13.92.Earnings before interest, tax, depreciation and amortisation eased 4.1% to $203.4m.Attributable silver production hit record levels at 18.8m ounces, up from 17.4m ounces a year earlier.Attributable gold production fell 4.6% to 133,000 ounces from 139,000 ounces.An interim dividend of 5.25 US cents has been declared, down from 5.90 cents a year earlier.'We remain positive about the second half of 2009Silver miner Fresnillo saw revenue slide in the first half of 2009 as the price of silver declined.Revenue in the six months to 30 June 2009 was down 10.7% from a year earlier to $378.9m, as the realised silver price over the period dropped 21.9% to $13.92.Earnings before interest, tax, depreciation and amortisation eased 4.1% to $203.4m.Attributable silver production hit record levels at 18.8m ounces, up from 17.4m ounces a year earlier.Attributable gold production fell 4.6% to 133,000 ounces from 139,000 ounces.An interim dividend of 5.25 US cents has been declared, down from 5.90 cents a year earlier.'We remain positive about the second half of 2009, reiterate our production targets for the full year and remain confident of achieving our budget for the year whilst maintaining our current profit margins,' said Jaime Lomelin, chief executive officer of Fresnillo., reiterate our production targets for the full year and remain confident of achieving our budget for the year whilst maintaining our current profit margins,' said Jaime Lomelin, chief executive officer of Fresnillo.