Fresnillo was a simple bet on a high-profile silver stock on sale at a time when I was bullish on silver. The company seemed oversold on the basis of the COVID-19 scare. Unfortunately, it had more than its share of operational difficulties—including adverse effects of new labor laws in Mexico—and it's still underperforming today. If I'm going to bother with a major producer, I expect steady, profitable operations, with as little technical and political risk as possible. Fresnillo continues struggling and the political situation in Mexico, where its main operations are, is getting much worse. It's hard for me to believe that this stock will get left behind the next time silver makes a run for the record books, but I decided to eliminate Mexico Risk from my portfolio and sold this stock, along with others working primarily in Mexico.