Noche Buena

Acquired in 2008 from Seabridge as part of the Group’s district consolidation strategy; commenced operations as an open-pit gold mine in 2012. Located in the Herradura District 23 kilometres from the Herradura mine.

Ownership: Minera Penmont (100% Fresnillo plc)
Location: Sonora
Commodity: Gold
Operational since: 2012
Facilities: Open-pit mine, heap leach and Merrill-Crowe plant
Workforce: 441 employees, 504 contractors
Average Ore Grade in Reserves: 0.51 Gold (g/t)
Mine Life: 2.8 years (2016: 3.2)

Quarterly Production

  4Q18 4Q17 % change 3Q18
Ore processed (t) 4,395,527 4,445,313 -1.1 4,834,512
Total vol. hauled (t) 17,220,712 20,921,653 -17.7 20,489,682
         
Production        
Gold (oz) 36,705 49,098 -25.2 42,460
Silver (oz) 9 12 -19.7 5
         
Ore grades        
Gold (g/t) 0.50 0.54 -7.5 0.52
Silver (g/t) 0.09 0.14 -33.0 0.05

History

2008

Acquired through Penmont JV

2009

Exploration commenced

2011

Construction commenced

Production

Gold (oz)

172,282 (FY17) % (5.5) Change

Silver (koz)

31 (FY17) % (6.1) Change

Ore grade (g/t)

0.52 (FY17) % 2.5 Change

Ore deposited (kt)

17,821 (FY17) % 2.2 Change

Financial Highlights

Adjusted Revenue (US$m, FY17)

215.5 % (4.6) Change

Segment Profit (US$m, FY17)

75.5 % (10.0) Change

Capital Expenditure (US$m, FY17)

18.7 % 117.4 Change

Exploration (US$m, FY17)

5.7 % 256.3 Change

2018 - Summary

  • Contained costs

  • Production was higher than expected due to a higher ore grade & higher volume of ore processed

  • Continued to explore areas of influence, which continued to show limited upside

  • Construction of a Carbon in Column process facility commenced

Performance Targets - 2019

  • Maximise production, maintain comparative low cash cost profile
  • Complete construction of leaching pad number 7
  • Implement the activated carbon project for the Merrill Crowe plant tailings to increase recovery
  • Prepare mine closure plan