Noche Buena

Commenced operations as an open pit gold mine in 2012. Located in the Herradura District 23 kilometres from the Herradura mine, acquired in 2008 from Seabridge as part of the Group’s district consolidation strategy

Ownership: Minera Penmont (100% Fresnillo plc)
Location: Sonora (23km from Herradura)
Commodity: Gold
Operational since: 2012
Facilities: Open-pit mine, heap leach and Merrill-Crowe plant
Workforce: 429 employees, 424 contractors
Average Ore Grade in Reserves: 0.51 Gold g/t
Mine Life: 3.2 years

Quarterly Production

  2Q17 2Q16 % change 1Q17
Ore processed (t) 4,399,136 4,349,088 1.1 4,613,684
Total vol. hauled (t) 22,436,979 20,186,274 11.1 20,918,657
         
Production        
Gold (oz) 42,097 48,014 -12.3 47,678
Silver (oz) 7 4 61.4 7
         
Ore grades        
Gold (g/t) 0.51 0.48 6.2 0.51
Silver (g/t) 0.09 0.07 29.5 0.09

History

2008

Acquired through Penmont JV

2009

Exploration commenced

2011

Construction commenced

Production

Gold (oz)

182,280 (FY16) % 15.2 Change

Silver (koz)

33 (FY16) % (54.8) Change

Financial Highlights

Adjusted Revenue (US$m, FY16)

225.8 % 24.3 Change

Segment Profit (US$m, FY16)

83.9 % 214.2 Change

Capital Expenditure (US$m, FY16)

8.6 % 230.8 Change

Exploration (US$m, FY16)

1.6 % (56.8) Change

Performance Highlights: (2Q17)

  • Quarterly and first half gold production decreased vs. 2Q16 and 1H16 due to the lower overall speed of recovery in 2017 compared to the one achieved in 1H16, when new mineral layers were deposited at the leaching pads; partly mitigated by the higher volume of ore processed
  • Quarterly gold production decreased 11.7% vs. 1Q17 mainly as a result of lower overall speed of recovery and ore processed due to increased stripping

Objectives: 2017

  • Continue exploration in surrounding area
  • Construction of Pad number 7