trending Market Intelligence /marketintelligence/en/news-insights/trending/Q9i9k0Sn3oU6yP8Jf_hzEg2 content esgSubNav
In This List

Minera Frisco swings to net profit in Q1'16 despite lower gold production

Blog

Funding Social and Affordable Housing: A Credit Perspective

Blog

Global M&A By the Numbers: Q2 2021

Blog

Snapshot: Report - High-Flying Battery Makers Have Much To Win And Lose

Blog

Lithium prices hold firm, cobalt prices rally


Minera Frisco swings to net profit in Q1'16 despite lower gold production

Minera FriscoSAB de CV swung to a net profit of 32.5 million Mexican pesos inthe first quarter of 2016, from a loss of 457.7 million pesos a year ago.

The company's losses in foreign exchange dropped 48% to 276million pesos, and the loss of 234.4 million pesos on financial instruments ayear ago turned to a gain of 45.9 million pesos, according to the April 27statement.

Net sales for the quarter were down 1% year over year to3.41 billion pesos due to lower metal prices and a drop in gold production.

Lower cost of sales contributed to a 16% increase inoperating income to 502.3 million pesos.

Gold production in the quarter dropped 12% year over year to103,340 ounces, due to a decrease in output of 42% at and 39% atEl Coronel.

Silver production remained stable on a yearly basis at 2.3million ounces.

Copper concentrates production totaled 3,919 tonnes, up 4%year over year on the back of expansion at Tayahua.

Lead production decreased 4% to 5,704 tonnes due to a 5%decrease at Asientos and 14% decrease at , whilezinc production increased 3% to 18,455 tonnes as a result of 39% more output atTayahua.

As of April 27, US$1 wasequivalent to 17.43 Mexican pesos.