Fresnillo Share Discussion Threads

[trader536] 08/10/2020 13:15

The long-term silver price continues to display strength.

Even after the recent rise today's gold silver ratio is 78:1 which is still significantly higher my long term average of 63:1

Based on the 63:1 average a fair value price for silver today would be $30.04

[kennyp52] 08/10/2020 09:53

Ahhh ... traders dad . Either way you are cut from the same cloth and not worth listening to . Filtered

[2603] 08/10/2020 09:51

🤣🤣🤣😂8514;😂 if only you new.

[kennyp52] 07/10/2020 19:20

3000 .. don’t forget ... you said 3000 . Until you have sold ... then it will be 500 ... it’s going to 500... everyone believe me ... please believe me ... I want to be loved and worshipped ...

[trader536] 07/10/2020 19:10

Quite so. I wonder what the tools trolling me will have to say when 2000p is hit.

He who laughs last laughs for longest.

[2603] 07/10/2020 18:56

Nice!!! Candle today a follow through tomorrow would make it pretty bulish, the monthly chart looks really good, 3 months of good consolidation after a big rise. Each month showing a higher high, this shows to me a lot of support on dip buying, on reasonable volume. Going by your monthly chart the volume this month so far is looking very good with lots of support, if the RNS are good news for this quarter we could see your £20 target sooner than you think. The metals fund that I pay into have Fres in their top 5 holding. Good times ahead.

[plat hunter] 07/10/2020 18:42

Everybody learns a lot about you BumRaider. It's just the kind of person you are

[plat hunter] 07/10/2020 18:33

Stop talking to yourself, you ducking weirdo

[trader536] 07/10/2020 18:22

Here's my long term chart. 2010 & 2011 profits are circled in blue, I expect 2020 & 2021 profits to be at similar levels and the share price to hit my target of >2000p before the end of 2121.

Note that the share price hit 2000p in 2016 in anticipation of profit reaching $500m

FRES can rise and fall double digit percent in the blink of an eye, best to just hold for target to be hit unless you want to sit glued to your screens all day every day.

[trader536] 07/10/2020 18:10

Daily chart looking nice....

[2603] 07/10/2020 16:36

False break down, fres back into its side ways trading range above £12. did some good topping up in the £11-£12 mark. you got have patience and buy on the dips. When the printing press starts up again we should break out to the upside and test the next resistance (Trader chart please).
Exdiv for TSG tomorrow, a fantastic 6p. It amazes me how a small Russian producer pays such a good Div. whilst a lot of stock are cancelling theres.

[thecomposer] 07/10/2020 15:58

Awaiting stimulus updates here but FRES looking strong regardless.

[kennyp52] 06/10/2020 22:25

Silver down 5% already ... not looking great .

[roguetreader] 06/10/2020 11:37

Putting the the Ag price to one side, it will be interesting to see how their dilution control and production improvement measures are progressing in the Q3 update. They should be starting to bite in earnest now and will hopefully show up in the production and grade stats for Q3, which in turn will tell us what they need to do to meet EOY guidance.

[imastu pidgitaswell] 06/10/2020 11:24

Funny - was looking back at the initiation of their coverage with a sell rating and 1000p price, after the H1 results, not very long ago. It was not unreasonable, summarised as PM prices gains masking operational issues. The guy doing it had 20 years covering mining companies - he knows his stuff, better than some of the 20-someting scribblers.

What has changed?

[grupo] 06/10/2020 11:21

BERENBERG RAISES FRESNILLO TO 'HOLD' ('SELL') - TARGET 1200 (1000) PENCE

[imastu pidgitaswell] 06/10/2020 09:58

Yes. It's not a big issue - it was just the process and the partial release of the relevant information that was a bit odd.

They had to refinance at some point, and doing it now (as opposed to 6 months ago) will have got them a much better long term rate as the risk (to the lenders) is much lower. As above, maybe getting an even lower rate wouldn't really make much difference to the annual cost, relative to their operating income, so might as well get it done (for 30 years) and move on.

The main issues remain as they were - managing the pandemic, operational efficiency on their existing problem mines, bringing Juanicipio into production, managing the gold production decline until Orisyvo produces (and funding Orisyvo pre-production) plus (I think) managing management succession.

Something tells me, after the likely panic of last year and early this year, including the reporting difficulties and one off unforseen costs of 2019, that the CFO's days may be numbered. Now that the debt refinancing has been dealt with, he may be getting a carriage clock very soon...

Anyway, all much much easier thanks to the metals prices increases, but also thanks to their management of the pandemic - no mine closures when their competitors have had to close a lot.

[kennyp52] 06/10/2020 08:44

High level of debt but the rescheduling to 2050 makes it almost irrelevant and indicates confidence in mine life . Big positive ?