The International Business Times reported that Fresnillo, the Mexican precious metals producer, is on target for its projected 2012 outlook, aided by the increase in production at its new Saucito mine.
As quoted in the report:
The world’s largest primary silver producer said on Wednesday silver output at Saucito was building up successfully and a plant being built to process gold at Herradura was progressing well, giving it confidence about the long term.
Numis analyst, Cailey Barker commented:
The good read-through was more on the project side. They’ve found more gold for Noche Beuna, looks like they’re going to expand capacity, and then they’ve also found a couple of extra veins at the Fresnillo mine.