Investing.com -- Here is a summary of regulatory news releases from the London Stock Exchange on Monday, 2nd December. Please refresh for updates.
- Separately, Ocado (LON:OCDO) also gave a brief update on Ocado Retail, the U.K. operations that it is folding into a joint venture with Marks and Spencer (LON:MKS). It said it expects sales to be up by 10%-11% in the 13 weeks to Dec. 1.
Gold and silver miner Fresnillo (LON:FRES) said this year’s output of gold and silver would be at the bottom of the range it had previously announced, at 885,000 ounces of gold and 55 million ounces of silver. It also pushed back the timeline for developing its Orisyvo and Ciénega mines, so as to focus on its current operations.
Fresnillo (LON:FRES) had already cut its guidance forecast in July due to lower-than-expected ore grades and construction problems at the Herradura mine in Mexico. The updated guidance is as follows:
2020: c. 54moz ±5% of silver and c. 857koz ±5% of gold.
2021: c. 66moz ±5% of silver and c. 785koz ±5% of gold.
2022: c. 71moz ±5% of silver and c. 665koz ±5% of gold
Fresnillo (LON:FRES) also said it expects capital expenditure of $585 million this year, as it defers $65 million in spending at its Juanicipio mine into 2020. That means 2020 capex will total around $670 million, falling to $475 million in 2021 and $415 million in 2022.