Fresnillo Share Discussion Threads

[kennyp52] 27/1/2021 15:44

All that needs to happen now is gold price manipulation and drop back to $1300 ... Silver back to $20 ... this back to 500 ! Dreadful share to hold long .

[plunger2] 27/1/2021 15:43

Not so much panic at Penoles I note = -5%

[lovewinshatelosses] 27/1/2021 15:37

OK, another fairly mediocre market update, but you would have thought that the gold and silver prices had collapsed, given the share price action today. Or a serious earnings downgrade, but neither of these things are evident here, as far as I can see.
I assume the markets are pricing in a serious PM price correction, looking at other miners today (led by us, of course!).
Short term I can see that happening perhaps, but I remain firmly bullish on PM prices for the medium and long term and so now just need to decide when to add more here and POLY.
The latter I think I will wait for their RNS later this week, as it feels like a pattern might be emerging. GLA.

[wallywoo] 27/1/2021 15:19

You trade with ii by any chance imust? They are a awful broker.I used to use them, use IG now. They would have no trouble with your order. Platform is much better too.

[plunger2] 27/1/2021 14:25

and now for the stop losses getting taken out - or did we that already?

[imastu pidgitaswell] 27/1/2021 14:18

I mean, there is a bright side to this - you can either buy more shares than when the price was higher with each bag of cash, or each tranche costs significantly less.

Always been an optimist, I have...

🤓


(HL. doing nicely, along with the already binned AZN. Just rotation...)

[nicd] 27/1/2021 13:18

I dont want to get between you guys but I held what is now Arc Minerals for at least 10 years after it turned to penny dustIt is now showing a reasonable profit, but could easily have delisted like the Fijian gold miner that went Chinese

[eriktherock] 27/1/2021 13:16

I'm out @ 963p

[trader536] 27/1/2021 12:13

Says the stupid git who held a capital loss in VLX for 9 years, and a 60% capital loss in Fres before getting out for a few pennies profit.

[imastu pidgitaswell] 27/1/2021 12:05

Oh, I just can't do it any more. You're just too thick.

Carry on.

[trader536] 27/1/2021 12:03

Yep, buy more. Did you not read my post?? Its less than 5% due to gains elsewhere, so the volatility in a 5% holding has a very small effect on the overall portfolio. I have no plan to sell Fres with silver so high. (up 50% on last financials).

[imastu pidgitaswell] 27/1/2021 11:51

Right. 60% fall, but let's not fall out over trivialities, eh - numbers not being your strong point?

So you're happy to see it fall from 1360 to 960 and do nothing, because it has fallen (a little) less than 433p - although to be fair, you have decided to buy more, finally.

And what will you do if it falls to (say) 760? Follow the chart and sell? Or buy more?

You can see where this discussion is going can't you? Buying some, holding them, buying more at lower prices... Sound familiar? Come on, I'll take you through it slowly, at your own pace, I've been doing some home schooling recently...

[trader536] 27/1/2021 11:48

Stupid git - its far wiser to let profits run. My portfolio has recently hit new all time highs due to gains elsewhere, and also multi-bagging on few small caps. Due to these gains Fres has fallen to below 5% of my overall portfolio, so I've added more today. The 50% fall in profit which you refer to is exactly that 'profit' on my holding.

The chat indicators are bullish and the price is moving within its expected 433p volatility range.....

[imastu pidgitaswell] 27/1/2021 11:31

t - desperate stuff. Look at VLX now - I took a decent chunk of that, thank you very much. Nothing like I should have done, but then I'm not as good as you, eh?

Any answers to the previous questions - now 265p when it was 680p; - whatchya gonna do? Chart?

[plunger2] 27/1/2021 11:30

Excellent post, pidgit.

[trader536] 27/1/2021 11:28

Our thread stupid git buys and holds fallers while selling winners for a few pennies. He was lucky not to lose his shirt over at VLX after doubling down and allowing a loss to run for nine years (yes 9 years) lol

[imastu pidgitaswell] 27/1/2021 11:24

OK, maybe your comments are directed at some of the more 'optimistic' ones. I have no belief or expectation or hope that this equity will be priced at 3000, or 2000. Or that gold or silver will go parabolic.

For me, FRES and POLY have been the exact opposite of 'bitterly disappointing'. But then I'm not in the business of looking for 5 or 10 baggers like so many PM followers are - might as well punt on bitcoin.

As with all shares, I just seek mispricing by markets - it's rare that you see extremes, but there were quite a few in 2020, including this at 500-600. Many of them a factor of timing - notably (for me) DLAR, COST and TW. All bought, big, on fundamentals and consideration of the price at the time. And there were others. For FRES, at 1000-1300, it's a decent trading share, not a life changing investment, it's not (imho) going to double again.

At current prices, 970-odd, I'm happy to have more than at 1300, less than at 600. Seems pretty logical and straightforward to me, but so many people seem to have a problem with it.


Let's try this another way. Today, now, you can buy this at 960-odd. Yesterday it would have cost you 10% more. Earlier this month, you had to pay 1280. We have just had the production update for the year just ended, and guidance for 2021, along with a projects update. Does buying this share at this price look like a good move?

[eriktherock] 27/1/2021 11:21

Good post permbear.
I didn't consider there being sellers as low as 966p.

[kennyp52] 27/1/2021 11:04

Trader536 .... timberrrrrr ..... on fumdamentals you are fekin useless . 800s next ... now quickly through sub 1000 . Imatsu ... the production issues were pre Covid my friend . This is going to struggle to maintain shareholder value IMHO .. share price dropping as predicted . Sorry guys but its how I saw it .

[penycae] 27/1/2021 10:57

permbear - interesting post. Your risk appetite is presumably to hold a permanent short position? Do you ever close, then re-enter, or have you been permanently short from your original entry point, which was presumably much higher?

I'm neither deluded, nor a lemming.I'm just a trader of shares. I run a business where our philosophy, and business model, is to hold - never sell. It makes a refreshing change to be able to move in and out of things where there is always a market.

No animosity intended, just askin'.

[plunger2] 27/1/2021 10:56

Irrational despair fully priced in. I think.

[imastu pidgitaswell] 27/1/2021 10:42

Not really - having sold out of 46,000 of these at various prices, including 1346, plenty of scope for buying more than I currently have (14,000), cheaper than I sold them for.

And round and round it goes. Just keep on taking the cash as it happens. I'm just making the same profits over and over again. To do that, they need to go down as well as up - which involves sitting on them when they go lower, and buying more, being careful to manage position sizes.

You need to take time to read the fundamentals, both operational and financial and political, understand them and why it's safe to do the buying and selling at various prices, and be aware of the bigger picture.