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Fresnillo Share Discussion Threads
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|More relevantly we have options expiry on shorts today at the Comex I believe, from 11.00 a.m. and the battle over what price silver, in particular, is physically and as a paper 'commodity' begins again for May.
It is tiresome but the manipulation of the PM prices in New York and London to maintain their pressured positions obviously impacts the PM related investments like Fresnillo.
If there is a turn as previously we should bounce on that aspect specifically, not the paltry effect of going ex-dividend. IMHO.
Currently silver ounze in Shanghai will set you back $18.46 as against the price in the West of $17.30 ....
We will see.
|These xdivi today|
|Overall a positive report but nothing to really get excited about and, most importantly, condolences to the poor fellow who was killed 'on site'.
It shows how dangerous a game it can be while we sit and watch the share price machinations and count our divvies...
It was 'interesting' that 'interesting' was mentioned in connection with a number of ongoing drills. Very mysterious but full of potential if unclear.
Once the May expiries are fully out of the way on Friday we should bounce back lost ground as nothing untoward has been flagged in these production numbers. Guidance unchanged.
|In the first quarter of 2017, construction of the flotation plant (San Julián phase II) continued to progress. Initial tests have commenced and the project is on track to be commissioned at the end of 2Q17.
Update on development projects
In the first quarter of 2017, the assembly of the agitation tanks continued and the foundations for the reagents warehouse were concluded.
This US$155 million project is expected to increase overall recoveries of gold and silver by processing historical and ongoing tailings from the Fresnillo and Saucito mines, which otherwise would have been lost. Annual production of 3.5 moz of silver and 13 koz of gold is expected once the plant is commissioned in 1H18 and reaches full capacity.
Second Dynamic Leaching Plant
During the quarter orders for the mills were placed and the foundations for the agitation tanks and construction of the water tanks were concluded. Construction of this project will continue throughout 2017 with commissioning expected in 2018.
This US$110 million project will enable sulphides occurring deeper in the pit to be processed more efficiently. As a result, the life of mine at Herradura will be extended to 12 years with an average life of mine annual gold production of 390 koz.
Update on Exploration
In the first quarter of 2017, 88,000 metres of drilling were completed at our operating mines as part of a 428,000 metre programme to carry out direct mine development and partially convert resources into reserves. Additionally, 84,000 metres of exploration drilling were carried out as part of the 394,000 metre programme at projects.
Presently 17 areas are in drilling and interesting results were obtained at the Herradura District and Tajitos in Sonora; the San Julián mine, Candameña and Guazapares in Chihuahua; San Juan in Durango; the Fresnillo District in Zacatecas; and Guanajuato in Guanajuato. Two prospects are in drilling in Peru with interesting results at Pilarica. In addition, prospecting teams are evaluating selected areas of the favourable silver-gold belts in Mexico, Peru, Chile and Argentina.
As announced in the Preliminary Results, we deeply regret the fatal accident of one of our contractors at the Fresnillo mine as a result of the lack of adherence to our safety policies. We continue to reinforce our safety measures throughout the Company, with our management systems and organisational programmes centered on personnel safety. We remain committed to our zero fatalities target.
There will be a conference call for analysts and investors on Wednesday 26(th) April at 8:30am (London time). The dial in details are as follows:
UK: +44 (0) 20 3059 8125
USA: +172 492 89460
Mexico: +1 8552 879 927
All other locations: + 44 20 3059 8125
Participant code: 260417|
|Agreed Top, you can't win them all. Luckily only a small top up and main buys here at MUCH lower pricing.
I will look to add more on the dips....
NB. HOC looking like a good top-up opportunity to me pre-results also.|
|Not so good timing GS. Maybe consider more tomorrow mate as a likely floor?
Big black candle stick
|Those drums weren't loud enough for £16.50 it seems. A solid week nevertheless.
|The war drums are working overtime to push Trump's agenda of a lower dollar and interest rates...surprise surprise.
If North Korea manage to 'entertain' their folks and the watching world this weekend with a show of 'strength' by launching another Missile or two to celebrate the great (original) leader's birthday then being out of gold-backed investments is unwise.
A steady climb with stronger metals and dollar weakness (via Trump inspired Wall Street Journal interview too) should translate into Fresnillo breaking above £16.50 and holding today. Maybe better by late afternoon.
I hear the sound, of Distant Drums - for the elderly amongst us! Happy Easter all LTHs.
|Very true, which is why you and I and many others are left to 'talk' to each other on boards like this...no offence mate!
If it wasn't for the investment I might be elsewhere and talking nonsense too. Lol.
But it pays to be aware of the great big wider world at the same time.
Fresnillo still to £30 before I reconsider my position here. Same as at the start of the year...
Whats more scary is when one speaks with peeps (not generally on these boards) they look at you like your mad and/or live in a different world. Best stick to chat of Newcastle getting promoted or Wenger getting sacked......|
|Nope, all happening elsewhere like Trump tax cut agenda (lol), North Korea threatening noises, French first round imminent and far left now coming into the picture who wants to 'moderate' EU but is unlikely to be taking votes from Madame LePenn...
And all the other debt ceiling, Government shutdown build up for after Easter
Why buy PMs and related investments like Fresnillo?
Move along quietly now. Lol.
|Nothing to see here :).|
|Depends on the next lot of massaged data from the States at lunchtime, the NFP figures and the related wages component especially it seems.
I would imagine we will not gallop away until then with a slight impression that we will then move higher into our close.
Counter moves going on here. Without NFP data we'd probably already be £16.50 but as we all know a few killed in Syria - however awfully - will be forgotten quickly when compared with the almighty economy and Wall Street.
Reagan used to like to rattle Gadafi's cage every now and then too.
|Through 16. Can she hold it.|
|Probably both MRThomas.
|Finally above water after thinking I was buying on a low four months ago a long waite as should have sold out last month the question now will it go higher or like last month go down again
still done well on these shares by buying on lows expect last time got it wrong happy for a 5/10% gain from here|
|Could break 1600 today :-)|
|The village idiot has surfaced|
|Interesting to see you say you dumped out all your silver positions H? (Over in the HoC BB?!
Which is it old man?! You seem rather confused!!|
|the gearing of the gold miner shares on rises in silver could be as high as a factor of three. This is when to be in, or back in, long the miners.
Interesting re black rock.|
|Lol. If silver and gold doing well this last quarter and likely to continue to do so in the current one is beyond Blackrock's clients then they don't deserve to be told!
But I take your point. There is also the end of tax year finance moving about too I guess so let's get to Wednesday and see what might happen next here. Pushing up through £16 would be very bullish.