Silver – Fresnillo PLC, a Mexican precious metals miner cut its dividend by nearly half after reporting falling net profit Tuesday due to lower silver prices which more than offset higher gold prices and output.
Silver – Bloomberg reported that the world`s main silver producer, Fresnillo PLC`s stock price plummeted to a three-month low on falling silver prices and a UBS AG rating downgrade.
Silver – Precious metals have been defying conventional wisdom in regards to the Eurozone debt crisis. For silver, the problems are exacerbated by the metal’s role as an industrial and investment metal. Silver’s price going forward depends on reduced volatility stemming from a debt relief plan.
Silver Investing News reports MAG Silver Corp. rose 13 per cent after Fresnillo PLC, world’s biggest primary silver reported its take-over for MAG Silver. The senior silver producer is offering MAG US$4.54 a share for complete ownership. Earlier this year, Fresnillo purchased a 19.8 per cent stake in MAG, its joint venture partner on the Juanicipio deposit in Mexico. Currently, MAG owns 44 [...]
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