BMO Capital Markets Reiterates Market Perform Rating, ₤16 PT for Fresnillo

In a report published earlier today, BMO Capital Markets reiterated its Market Perform rating and ₤16.00 for Fresnillo plc

, related to the recent release of a Preliminary Economic Assessment for the Juanicipio project. BMO Capital Markets went on to say “The revised Juanicipio PEA has minimal impact (2%) on the FRES 10% nominal NPV, and highlights an additional growth opportunity within FRES's core operating centre that is not currently included in the company's growth plans to reach annual production of 65Moz silver and 500koz of gold by 2018. Net to FRES, Juanicipio would add a further ~6Moz of low-cost silver production by 2016.” Fresnillo plc closed yesterday at ₤14.52.