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Nickel you made me sell at 555p :(
TigerBytheTail - i'm winning the bet so far though eh , FRES down, FXPO up since we took out the wager. I only expect that to increase too. Why? The FXPO boss has stepped down from the CEO role, FXPO throws off cash, pays a double digits divi, will go to net cash very soon. As for FRES, it's cash from operations don't even cover the capex which means you have a business rapidly burning cash and it's got a crazy valuation at £4bn.
Hey Nickel_Investor!
Have you seen yet that the Ukrainian boss of your beloved FXPO has just been put on the international most wanted list?
You can't say I didn't warn you. Now please stop making a fool of yourself here.
It may be for long term investors but the issue is cash from operations doesn't cover capex which means you have eroding cash which is the way the price trend is de-rating.
Yesterday's revelations confirmed that gold - the biggest contributor is going to take a bit hit ahead which is only going to make things worse.
" This is a company for long term investors? "
maybe for Fund Managers, but not that many private investors....if it was..then why do they complain over short term issues and movements of the share price?
Lost 5k selling this at 555p! F me.
" That's almost as dumb as betting on a Ukrainian company located in a corrupt hellhole within artillery range of Russian / separatist artillery - but not quite. "
TBTT - Ferrexpo are not Ukranian and Iron Ore is a cash cow for them and they contribute decent taxes to pay for any Ukranian artillery weapons and ammunition, anyway
This is a company for long term investors?
" we will continue to create sustained value for stakeholders in the long-term...."
long-term ?....nothing short or medium...but.................................... long ...term
hummmmm
Let's see what the post CMD response is
Shoulda followed gut instinct! This was going green!
F me nickel I sold this at the lowest of the low at 555p listening to you!!!
A far more detailed document is on the government website. When reviewing the cost impacts, silver production as expected with the new mine was to generate just over 11% additional profit for the company by 2022. The decision to reduce gold consumption appears to be impacted by reducing the timing of new projects coming on stream from resources to reserves and future mine development. These drop future income by around 14% and annual expenditure by around 10%. The company share price is now far more influenced by the silver price than before as an 11% swap over takes place. The company is applying a lot more focus across its existing resources. The higher gold prices and hopefully silver getting back above $17 will keep a floor under Fresnillo as they get through a challenging 2020.
I do believe Nickel_Investor must be short Fresnillo (or betting on CFDs), and that he thinks that plaguing this bulletin board with his inane stream of consciousness will drive down the share price of a 4 billion pound company.
That's almost as dumb as betting on a Ukrainian company located in a corrupt hellhole within artillery range of Russian / separatist artillery - but not quite.
p.s. To correct the headline of this post - gold guidance indeed falls for Fresnillo over the next few years, but silver guidance is strongly up...
Will you still be here when this goes up 5%?
Would be watching out for further broker downgrades now as news of lower gold production ahead is going to significantly impact cashflows again.
This will finish in the green.
One business that certainly knows how to keep on disappointing !
Indeed - going to be some blood on the streets today. :(
Not the update bulls wanted to see.
Capex still crazy high still in 2020 also