Fresnillo Share Discussion Threads

[lageraemia] 18/5/2024 09:25

FRES is going to be a bit of victim of history for a while I think which migh act like a bit of an anchor. Last month's quarterly production report was OK, and as soon as we start seeing the higher prices translate into financial result (half year report in 10 weeks?) then we we play catch I suspect.

[saint in exile] 18/5/2024 08:57

The likes of HOC has risen sharply but this one is severely lagging

[15glenrose] 18/5/2024 07:36

what could be so bad behind the scenes? . What I don't understand is this share hit £13 some years back and Silver and Gold where much much lower . I think basically there is not enough interest in this sector and so yes undervalued BIG .

[pictureframe] 18/5/2024 07:29

This is either the bargain of the year or something is very wrong behind the scenes

[aleman] 17/5/2024 22:47

Spot MXN523 / $31.43

Dec 2028 contract $35.60.


free stock charts from uk.advfn.com

[aleman] 17/5/2024 16:01

They're both flying now at spot. Silver MXN511 / USD30.70. Gold MXN40,136 / USD2411. That's up $43 today.

Dec 2028 contract also edging up 5c to $34.19.

[ukgeorge] 17/5/2024 15:58

There shouldn't be a lot of resistance for the move up towards £8 imo

[aleman] 17/5/2024 14:29

Shares still seem way behind. Spot silver now MXN507. You have to go back to March 2022 for the last time they traded at this level and $ futures continue to set new 11-year highs. As a bonus, gold just poked its nose above MXN40,000 so has a potential 4-year high in its sights again.

[ukgeorge] 17/5/2024 13:51

Boom $30 silver finally does the trick, onwards to £7

[petersinthemarket] 17/5/2024 13:33

There was a gap around 470p.
Could be treated as a continuation gap, I suppos.
Is everyone discounting it?

[ukgeorge] 17/5/2024 09:53

Yes, quite surprising. Just hope that it plays catch up

[15glenrose] 17/5/2024 08:35

And still not over £6

[aleman] 17/5/2024 08:24

Spot up again. MXN497.

Dec 2028 +9 cents to another new high of $34.14.

[aleman] 16/5/2024 09:41

Silver rose strongly in India, to 89100 Rupees per Kg. I make that just over $33 per ounce.

[ukgeorge] 16/5/2024 08:26

Surely back over £6 today

[aleman] 16/5/2024 08:12

Closed at a new 25-month high of MXN495. Currently MXN493 after 498 earlier. Gold just shy of new highs at MXN39915.

Dec 2028 silver jumped +$1.01 to a new high of $34.05. That's basically up $10 in 11 weeks. After breaking out, futures are generally trading about $5 higher than the highest achieved in the last couple of years and about $8 above the average for that period.

[aleman] 15/5/2024 19:50

Spot has jumped +11 to MXN495 since this morning, and I repeat that the 25-month weekly closing high is 479.83 and daily is 490.27, so the last few hours' jump looks VERY significant.

There are interesting technicals on the price chart - the backtest to MXN451 and bounce to this evening's level might suggest that the price has now retrenched itself in 450-600 range that it traded in from July 2020 to April 2022.

Anybody wondering how supply and demand might be ultimately behind the recent rise (and not just short-term gold strength on Middle East instability) might try Googling "World Silver Survey 2024".

That report is summarised here:

[chestnuts] 15/5/2024 19:28

Aleman

To sell forward as killed the gold and silver price over the yrs the best thing the miners can do is stop selling forward which will regive the miners the power and the control over the price of silver and gold. ,

[junior21] 15/5/2024 12:55

Keep posting Aleman. We should hopefully see a 20% increase over last year's 23.60 average price and much of this should drop to the bottom line (I think?).

Have bought more as think Fres has some catching up to do

[kennyp52] 15/5/2024 10:16

Aleman .. appreciated reminders .. FRES only needs to prove production and AISC and the share price must surely react . Good luck

[aleman] 15/5/2024 09:04

Nymex Dec 2026 silver closed at a new high of $32.14. It was $31.38 a month ago, $25 three months ago, $27 a year ago, and $24 two years ago. (July 2028 is a new high of $32.82 but seems to have only been trading 10 months - rising 28% from $26.94.)

Spot is up again at MXN484. The 25-month weekly closing high is 479.83 and daily is 490.27.

I only keep posting these prices since the shares don't seem to be reacting to their recent new highs. If the company can sell forward at well over $30, and the recent cost issues (strong oil, strong Peso, strong Mexican average wage) seem to have abated then shouldn't current forward sales prices be locking in loads of profit for years to come?

[pictureframe] 14/5/2024 21:55

A dividend increase would boost share price, increase in silver and weakness in Peso will eventually feed through in results.

[chestnuts] 14/5/2024 17:42

If i am correct i expect silver to start to break through $30 by the end of May, which in turn will burn the shorters, but i do expect them to increase there shorts which they probably are now but as we can see silver is going up, demand is at last showing through, and i wouldnt be surprised if the silver market is closed for a day or so.

[aleman] 14/5/2024 16:32

On the move again? Spot silver MXN481 and gold MXN39643.

Jul 2025 silver is trying for a new (4-year) high at $30.35. Ditto Dec 2026 at $31.88. They seem very good prices compared to an average of around $26.50 these contracts traded at last year, the $23.60 that FRES realised in 2023, and the spot average of about $23 last year.