Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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There she goes again - through $27
POG, I reckon with cheap takeover, it will still be a premium over the current SP so there is no downside. Only way they get it on the cheap is to first wreck the company. Otherwise, they will have to make a general offer to all shareholders if they intend to take it private or try to merge it with another outfit but the characters involved are probably too diverse to do that.
Oh I also traded silver at £5 a point and very often, I will pick up 80-100p like this morning. I sold at 2650 silver but I always tell myself you can't pick up every last point. Since march, I have probably picked up over 1000p on those two items. Best run on trading ever I reckon.
Carvegyber
I have been holding here for about 18 months and only recently did I trade a few as the stock wasn't moving much. I'm still in with my long term tranche nd holding tight.
Spread betting isn't really for me but I do see the attraction. As for POG, I know it's worth a lot more than the current SP but the boardroom hassle and the possibility of a cheap T/O do concern me. I would run for the hills if it hits 60p.
Buying bank shares raised my eyebrows! :)
Ah POG, what a drop that was back in the day eh?
Keep an eye on the Ecuadorian Copper/Gold play too IMO, if she manages to set a new floor at 30p then ...
30/30/30 shorter trade/longer trade/hold for me in this sector BTW.
Jmax, I am also in POG and in my opinion, there is far more value in that than FRES. The only reason why that is not 60p is the board room tussle. Once that is settled in a good way, I think it will fly. Worth holding couple of weeks to find out.
Jmax, I hold FRES in ISA and I don't trade those. I am currently only trading FRES using spreadbet at £10 a point. So for every 100p rise on FRES, I am up £1000 which is equivalent to investing £13500 currently in the shares. Spreadbet is a good way of trading but you do need to know what you are doing in using stops to limit your losses.
I often trade other shares or indices but at the moment, I found an arbitrage with FRES that works 80% of the time and I use some rudimentary TA to help. I am no TA guru but I am very well versed with principles of TA and how the market works.
Also, in a bull market, you very rarely lose. Just keep picking up points.
Thanks for the replies. I'm thinking of just holding tight.
I'm also in POG, I might sell those shares an invest in FRES if it retraces.
I have done well from HSBA in the past but not tempted by them at the moment.
I'm holding for £25 (seriously!). I think the crisis is that severe that silver could easily top 50 dollars and gold 3000. I don't ever sell shares that I am long and until I reach my target. Fres is 10% of my holding - the other 90% is a car crash - however I am only buying bank shares at the moment - HSBC, Lloyds, BARC, Natwest, BIRG and AIBG. I do see long term value there.
Holding: not trading. My original plan was to hold to £20 (I'm in at £6.60) but as the world continues to go to **** day by day, I'm now looking beyond that. Haven't yet chosen a new target, but if someone with the numerical & balance sheet skills can tell me (approximately) what FRES is worth with £135 p/oz silver, that would be my target.
GLA (as always).
I cam here looking for 1500p plus. However, with what's going on in the world and the money printing my expectations are changing.
Out of interest, a general question to all on here - what percentage of your total holding of FRES do you trade and do you reinvest all profits on the retrace ?
Thanks
Sorry new to this BB. first mess up. So I have been in the precious metals business for over 30 years now buying and selling, what I have found is you need patience, especially in shares. Fresnillo has only just started to get its act together, the next 2 years look very rosey for them and they will turn over some eye watering amounts of money. I started buying this share at the beggining of lock down and have been topping up on any major dips. This is the company to be in if you want exposure to Silver as well as holding the physical, looking at the monthly chart this has just started to get going. This is what you want two steps forward one step back, you dont want massive rises every day only to see a massive drop when the time comes. I have money in precious metal funds and one of the top ten miners the fund has just put in is Fresnillo, this is very positive as there will be good support on and dips. Most of us in the trade know that Gold and Silver have got slightly ahead of themselves but we all agree when they come to sell off with some profit taking there will be buyers in mass. In the near term I can see this knocking on the door of £14-£15, then maybe down to £12-£12.50 support. What I do see is if the governments keep printing money then we could see $30 Silver then $50 upwards over the next couple of years and by the time that happends I will expect this share to be well into £50 upwards per share. We need the pull back to accumulate more shares. Good luck all