Fresnillo plc

12 days ago 9:21

Key Highlights

He points to a Sonora royalty project that Fresnillo is involved with, where Riverside holds a 2% net smelter return royalty over some of the claims in the key starter-pit area rather than the entire project.
He cites it as the first of the royalties he expects could bring cash flow to Riverside.

Riverside Resources has spun out seven companies worth over $2 billion combined while its own market cap sits near $40 million. Its next spinout, Ravenna, would hold five Mexican properties in Sonora while Riverside keeps royalties across all of them. The guest says gold is the priority because it needs less development capital and permits faster than large copper projects. A net smelter royalty is a cut of a mine's revenue; Riverside holds 2% stakes at Tahuehueto and Sugarloaf Peak. Five new projects in southern British Columbia, spanning rare earths, gold and copper, extend the project-generation pipeline.

This Copper Giant Holds 1.2 Billion Silver Ounces | Jordan Pandoff

about 1 month ago 19:50

Nova Sül would rank Lumina as the world's third-largest silver producer at full output — backed by 15Mt copper and 1.2Boz silver in inventory. Lumina could fund the $6.4B Nova Sül build with EU debt and a silver stream — IPO was 4x oversubscribed at $300M. Poland's capped 2012 mineral extraction tax gives Nova Sül asymmetric leverage — at spot copper and silver, the post-tax NPV triples versus the PEA. Twin identical $3B shaft complexes let Lumina scale by reusing one design across the continuous Kupferschiefer copper-silver seam. Sulmierzyce (Silmir Zisha) is a potential spinout with 6Mt copper and 300Moz silver — ongoing drilling is expected to grow that resource materially.

Aya Gold & Silver ($AYA) on Strong Q2 Revenue Growth, 400,000-Tonne Silver Ore Stockpile

about 2 months ago

Key Highlights

Don Durrett argues that, as of August 2026, Fresnillo is the only major silver producer still ahead of Aya on a gold- or silver-equivalent production basis.

Aya's Zgounder mine is running as a cash machine: Q2 revenue up 151% YoY, operating cash flow up 522%, with payback on $140M capex inside five months. Boumadiene is targeting 37M ounces of silver a year at an AISC (all-in sustaining cost) under $15, lifting Aya to roughly 43M ounces by mid-2029. Q3 and Q4 historically deliver about 60% of annual silver production at the Moroccan operations because winter weather slows Q1 and Q2. A 400,000-ton ore stockpile gives the mill roughly two quarters of feed if mining halts, materially de-risking any short-term pit disruption. At a roughly $4B market cap, even conservative silver prices imply material upside as Boumadiene approaches commissioning.

McFarlane Lake Mining CEO And Largest Shareholder Discuss Latest Corporate News.

Peter Grandich

about 2 months ago

Key Highlights

Michael Gentile cites Fresnillo's acquisition of Probe Gold at roughly $70-$80 per ounce in the ground as a valuation comparable for similar-sized deposits.

McFarlane Lake's Juby project grew to 6.2M oz inferred+indicated, a 50% jump from 4.2M oz with only 13,000m of drilling. The CEO projects another 3-4M oz on the way to a 10M oz target with 50,000-70,000m of additional drilling. Hanging wall drilling at the Juby deposit is hitting mineralization previously classified as waste, which could improve the strip ratio. Largest shareholder Gentile argues the US Treasury's bigger bond intervention signals yield curve control — bullish for gold. McFarlane trades at $25-27 per ounce in the ground versus $70-80 per ounce for peers like Probe Gold and Banyan Gold.

SILVER To 'Super Surge' After Debt-Based COLLAPSE - 'We're In the Red Zone': Francis Hunt

Commodity Culture

Key Highlights

Fresnillo is cited by the guest as 'a very big producer,' placing it alongside First Majestic and Hecla as a silver miner whose chart pattern 'falls into the same kind of pattern' as the metals themselves.

Hunt argues a bond market failure since 2020 puts the dollar on a debt collapse path, with silver potentially surging to $1,000-plus. He expects a near-term disinflationary sell-off in metals before a 'super surge' once bond contagion forces the Fed's hand. Falling wedge breakouts in gold, silver, and mining ETFs (GDX, SILJ, Hecla) all flag the same bullish continuation pattern. Extreme-strike call-option volume reflects call-writing and position management rather than insider conviction of imminent moves. Physical coins and bars held in your hand are the only true hedge when counterparty risk spikes in paper-metal claims.

Gold & Silver in Focus: Jurisdiction, Capital & Investor Priorities for 2026 | August 6, 2026

Key Highlights

Steve Cope says Fresnillo's silver threshold for partnership is 200 million silver-equivalent ounces to move the needle for the world's largest silver miner.
Fresnillo joined Silver Viper's bidding war for Kineto, with Cope emphasizing that the Mexican-first miner prioritized the team's commitment to Mexico and local communities alongside asset quality.

Gold and silver sit at generational highs with structural fundamentals intact; both remain in the early innings of a multi-decade bull market. Junior mining equities have lagged physical metals despite record prices, creating a generational buying window for investors who pick the right teams. Grade and jurisdiction together drive valuation; Nevada, Ontario, Quebec, and Newfoundland command premiums that attract major capital today. Strategic backing by senior producers and funds like Fresnillo, Agnico, Alamos, and Eric Sprott acts as due diligence and signals quality. Capital discipline separates winners: leading juniors put 80 cents of every dollar into the ground and share evidence through steady news flow.

Mexico’s Next Silver Mine On Schedule for 2027 Production | Silver Tiger

Mining Network

Key Highlights

Peter Gadsdon raises the Max Silver/Fresnillo JV as a precedent where commissioning-stage power access held the project back, using it to frame his question on whether Silver Tiger's CFE power grant materially de-risks the December 2027 pour.

Silver Tiger's fully permitted Stockwork Zone heap leach in Sonora, Mexico remains on schedule for commissioning and first doré pour in December 2027. About 200 workers are on site running three shifts a day; earthworks are underway and concrete work is set to start in October. CEO Glenn Jessome argues disciplined execution — not silver or gold price — drives shareholder value, with roughly $1 billion NPV at current prices. CFE granted life-of-mine grid power access via an 18-month third-party build, and redundant on-site generators let the project start regardless of timing. The underground PEA is being advanced to PFS, high-grade drilling has resumed to the north, and Mexico's improving permitting climate supports a broader re-rating.

Live Q&A with Rick Rule and Steve Barton

Rule Investment Media

Key Highlights

The speaker notes Fresnillo is cheaper than Pan American Silver, but warns that concentrating silver exposure in Mexico adds political-risk concentration.
He flags this valuation argument alongside Buenaventura as a key reason some investors prefer those names despite the political risk.

Rising price is not the same as rising value; resource cycles typically run years, so time preference matters as much as entry timing. Focused copper producers like Southern Copper deliver more leverage than diversified majors such as BHP or Rio Tinto treat copper as a side business. Resource category confidence (measured and indicated versus inferred) and on-site infrastructure matter as much as headline ounces when comparing deposits. Royalty and streaming businesses reward patient capital over years; the next big deals will likely syndicate into bite-sized opportunities for tertiary players. Asymmetric exploration bets work only when the loss is affordable, with Rule framing NG Energy as a possible ten-bagger against a 30 to 50% loss.

Delta Gold Technologies ($DGQ | $DGQTF) CEO on Gold's Role in Quantum Computing

3 months ago

Key Highlights

Per the guest, Fresnillo PLC made a hostile takeover bid for MAG Silver that the company publicly called a 'take under' — a dynamic he says Delta Gold must be aware of.

Delta Gold's CEO argues gold's electron spins could enable a new qubit design, with patents filed by University of Toronto and Penn State. The company holds exclusive licenses to university patents, funds one million dollars per university yearly, and targets 2028 for partnership talks. Qubit error rates remain the bottleneck: today's best run one error per 6.5 million operations, a billion times less stable than a laptop. Hosts urge junior-mining investors to expect losing half on any stock, diversify broadly, and judge holdings over years, not single quarters. Don Durrett calls the venture a roll-your-dice bet: the R&D and patents are done, but whether it becomes a computer is unproven.

50 buy-the-dip stocks (July 17, 2026)

Don Durrett

3 months ago

Key Highlights

detailed

Fresnillo was expensive at one point but is trading around $32 as of mid-July 2026, and he notes it has come down quite a bit.
At $7,000 gold and $200 silver he calculates both Fresnillo and First Majestic as eight-baggers.
He calls that level of valuation unbelievable and says both have become very cheap.

He reviews 50 gold and silver mining stocks he owns, sizing the upside against $7,000 gold and $200 silver. Most of the list screens as an eight-bagger or better, and he favors undervalued producers growing output. Development names need patience: permits plus roughly two-year builds push many payoffs to 2028 and beyond. He cautions that gold and silver mining stocks are speculative, so keep allocations small and only risk what you can lose.

Silver Could Sink Lower Before the Bull Run Resumes | James Anderson - Guanajuato Silver

4 months ago

Key Highlights

The guest names Fresnillo, which he calls the largest silver mining company in the world, as the owner of several dormant mines sitting immediately adjacent to Guanajuato Silver's operations in the Guanajuato district.
He says Fresnillo has shown no interest in selling those assets and that he respects that position, while arguing that a deal to consolidate them would be the most logical expansion path for Guanajuato Silver.

Anderson says silver's slide from the mid-$90s to the mid-$60s isn't over; he expects a bottom in months, not years, with the supply deficit unfixed. The guest calls the AI investment boom a bubble that resolves badly either way - mass job displacement, or trillions of capital mispriced and sold. Guanajuato Silver budgets 2026 conservatively at $54 silver and $3,920 gold, then sold some metal forward near the highs. Record Q1 revenue of $43 million included Bolanitos only from January 15; elevated AISC (all-in sustaining cost) reflects deliberate drilling and tunneling, not operating failure. Growth now hinges on consolidating the Guanajuato district; Fresnillo's adjacent dormant mines are the prize for a company built on acquisitions.

Javier Reyes, Head of Luca Mining Corp. | Rule Symposium 2026: Rick Rule interviews

Rule Investment Media

5 months ago

Key Highlights

The guest says Luca Mining recently bought a large block of ground at Tahuahuitl from Fresnillo, which he calls the largest silver company in the world, at a reasonable price thanks to the existing relationship, extending Luca's exploration footprint.

Luca Mining is now self-funding: it ended 2025 with roughly $25 million cash and cut debt from $60 million to about $1 million. The guest explains the model: buy fully permitted, underperforming Mexican assets cheaply, fix community and capital problems, then repeat the process. Its two Mexican operations hold close to 4 million combined gold-equivalent ounces (all metals valued as gold), with drilling at full speed on both. Q1 2026 added $10 million cash and over 15,000 gold-equivalent ounces; management targets 100,000, then 250,000 ounces via acquisitions. The guest argues Mexico is fast becoming a safer, top-ranked mining jurisdiction, and Luca is acquiring assets before that becomes widely recognized.

Why This Gold Company Keeps Spinning Out Assets | John Mark Staude - Riverside Resources

5 months ago

Riverside Resources is actively spinning out assets, including the Blue Jay project and its Mexico portfolio, to unlock shareholder value. The company is strategically shifting towards a royalty-focused model by organically creating royalties instead of purchasing them. With key partnerships and projects across Mexico and British Columbia, Riverside anticipates multiple catalysts over the next 12 months.

Don Durrett & John Feneck Explore First Tellurium’s ($FTEL | $FSTTF) PyroDelta Energy Stake

5 months ago

Key Highlights

Don lists Fresnillo among his nine 'Mormon' silver producers that he expects to be highly profitable at $200 silver and urges viewers to buy now.

PyroDelta's thermoelectric generators (solid-state devices that turn waste heat into electricity) need only a 20°C differential and run 24/7. First Tellurium (CSE: FTEL), which management calls the world's only tellurium-focused company, owns 83% of PyroDelta plus a high-grade British Columbia project. Acceptance into DARPA's Lift Challenge (Dayton, Ohio, August 2) brings prize potential and introductions to defense primes and drone-delivery buyers. Durrett argues small silver producers gain huge margin above $200 silver, though he cautions developers take years and often disappoint before paying off. Co-hosts note 131 million shares out with roughly 35% in friendly hands, giving the 11-cent junior room to move on DARPA news.

Newsletter Favorites Sorted by Quality (April 2026)

Don Durrett

6 months ago

Key Highlights

detailed

Don Durrett calls Fresnillo the number one silver producer, at about 50 million ounces of silver a year.
He says he is surprised he has not rated it a 3.5 on the downside because he sees it only as a marginal five-bagger.
That marginal multiple profile is what keeps Fresnillo out of the 3.5 bucket.
He is also surprised his downside rating is only a 3, which he attributes to Fresnillo being all in Mexico.

Durrett ranks the 89 gold and silver stocks he owns on upside, downside risk, and company quality — a system investors can copy. His 'three-five' score marks a likely five-bagger — a stock he expects could multiply roughly five times from current levels. Only four holdings earn an A, reserved for low costs, clean balance sheets, and consistent execution — Australian mid-tier producers dominate the top. Country risk caps otherwise strong names: West African, Mexican, and Colombian exposure keeps ratings below top marks. He flags likely takeover targets among focused developers and producers still generating free cash flow.

Americas Gold and Silver ($USA | $USAS): Silver and Antimony Opportunity in Idaho

6 months ago

Key Highlights

Don Durrett says Fresnillo has no growth in the pipeline, grouping it with the large silver producers without production growth.
He nonetheless includes Fresnillo among the no-growth names he still wants to own because he expects them to do extremely well in the bull market.

CEO Paul Andre Huet says the turnaround is on track: silver output stepped up 50% and targets a 3.6 million ounce run rate by year end. Huet reports Galena's measured and indicated resource — the higher-confidence categories — rose 19%, with grades up 21%, past 200 million silver ounces. Huet describes a US Antimony joint venture that turns previously penalized antimony into revenue, with an Idaho plant backed by price protection. Don Durrett frames gold and the S&P 500 as a 'final battle' gold will win, urging investors to stay invested and buy dips. With about $130 million US in cash and no planned equity raise, management says drilling at Galena, Crescent, and Cosala will be funded from operations.

A Closer Look at LaFleur Minerals' Low CAPEX Path to Gold Production

CEO.CA

6 months ago 7:12

Key Highlights

The CEO calls Fresnillo's buyout of Probe Gold a big event for the area, noting most of those projects sit near the Beacon Mill.
LaFleur will look at whether projects Fresnillo may consider non-core after the Probe takeover could be brought into LaFleur.

LaFleur Minerals' new PEA (Preliminary Economic Assessment) charts a $31M CAD restart built around its wholly-owned Beacon Gold Mill. The $2,750 gold base case yields an AISC (All-In Sustaining Cost — what it really costs to produce an ounce) just under $1,600. CEO Paul Ténière says a 100,000-tonne bulk sample feeds the mill first, with the full production decision following those results. Beacon Mill refurbishment is just over 50% complete and on budget, with the first gold pour targeted for later in 2026. Regional M&A — Probe Gold's buyout by Fresnillo — could free up non-core projects near LaFleur's mill, management says.

Uranium Market Update | Justin Huhn and Jimmy Connor

Jimmy Connor

7 months ago 43:46

Key Highlights

The host cites Fresnillo, which he calls the world's largest silver producer, as a Mexican company that acquired a Quebec-based gold developer in late 2025 for about $800 million, to illustrate how buyers pay up for safe jurisdictions.
The host calls that deal price fairly cheap next to names like NexGen, using it to argue top mining jurisdictions command a premium.

Strait of Hormuz disruption risks sulfur supply for uranium processing; Namibia's Husab and Rossing face output losses if imports stall for weeks. Kazatomprom's growth increasingly serves the east: almost half of 2025 sales went to China, and its new JV project's output goes entirely to Russia. Term uranium sits near $90 a pound with spot around $83; Sprott's physical trust has bought about 6 million pounds of its 2026 allotment. US executive orders target 10 large new reactors under construction by 2030, yet America consumes 45 to 50 million pounds yearly and produces far less. The guest argues NexGen's Arrow is the supply linchpin, but timeline slippage and Kazakh mine decline rates leave the 2030s supply gap unresolved.

Newsletter Favorites Overview (Feb 2026)

Don Durrett

8 months ago

Key Highlights

detailed

Don says Fresnillo is starting to get pricey - he recommended it under $10 and it now trades around $52 at a $38 billion market cap.
He still thinks it has legs, showing as roughly a 3-bagger with potential for 4 or 5.
He calls it a shark that will keep growing by acquisition - he expects it to acquire neighbor Cabral - and he wants to own the sharks.

Durrett argues there is limited time left to buy gold and silver producers while they are still cheap, expecting one more significant dip. His Newsletter Favorites list leans on quality Canadian and Australian mid-tier producers, which he expects to re-rate as the bull market warms up. Companies whose second and third projects get no market value offer free upside — you pay for the first asset and get the rest for nothing. Cheap forward free-cash-flow multiples persist in West Africa and among silver producers, where weak sentiment discounts heavy leverage to metal prices. Australian producers like Ramelius reaching major-sized valuations is, in his view, the first sign the junior gold bull market is broadening.

McEwen Buys Golden Lake | A Small Deal With a Big Lesson

8 months ago

Key Highlights