Minera Frisco, S.A.B. de C.V. Announces Earnings and Production Results for the Third Quarter of 2019; Records an Impairment Charges for the Third Quarter of 2019
October 29, 2019 at 04:00 pm
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Minera Frisco, S.A.B. de C.V. announced earnings and production results for the third quarter of 2019. For the quarter, the company reported net sales report MXN 2,882 million. Operating loss of MXN 1,672 million. At the end of third quarter 2019, the company record a net loss of MXN 2,027 million due to the reasons explained before in this report.
For the quarter, the company reported silver Production reached 1.1 million ounces in third quarter of 2019. This is a decrease of 40% when comparing to third quarter of 2018. Copper production reached 5,587 tons in third quarter of 2019 versus 6,599 tons in third quarter of 2018. Lead production during third quarter of 2019 reached 4,181 tons. This is a reduction by 2% when comparing to third quarter of 2018. Zinc production in the third quarter of 2019reached 13,055 tons. This is 4% less compared to third quarter of 2018.
For the quarter, the company recorded an impairment for long-lived assets was record for MXN 1,397 million.
Minera Frisco SAB de CV is a Mexico-based company engaged in the exploration and exploitation of mineral resources. The Companyâs main activities comprise the production and sale of lead-silver concentrates, zinc concentrates, copper concentrates, copper in cathode and gold and silver rods. The staged operations include the location, investigation and compilation of information in the prospective areas considered for possible existence of minerals; conducting detailed geological study in the prospective areas, and finally conducting exploration methods directly in the prospective areas as a result of the previous stages. The Company owns such subsidiaries as Minera CRA SA de CV, Minera CX SA de CV, Minera Tayahua SA de CV, Minera San Francisco del Oro, SA de CV, as well as Multiservicios de Exploracion Geologica Frisco, SA de CV, among others.
Minera Frisco, S.A.B. de C.V. Announces Earnings and Production Results for the Third Quarter of 2019; Records an Impairment Charges for the Third Quarter of 2019
MINERA FRISCO, S.A.B. DE C.V. 
