The next focusIR Investor Webinar takes place tomorrow with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Well, maybe I'm wrong fog, but the chart is saying it's being dumped. I've just bought at 441.6 or thereabouts, plus I think I had a limit at around 442 which must have triggered. I'll continue to accumulate as I've done up to now and I'll drop it the moment the profit is good enough. For me it's working like a dream to be honest. The drop today might well be finished so I'm looking forward to evidence that the buyers are getting the upper hand. To now my buys are speculative. From now, I'm looking to jump on the back of a whale
The largest shareholder ex Peñoles only has 8.7m shares, so perhaps it's more than one institution selling because this has gone on for months. Average daily volume is 1.3m but we've had several days recently of 2m plus.
I think a major SH is selling fog, that's been guiding my decision making. Yesterday my average entry was around 452, today I'm starting from scratch and hoping for 442!!
I don't know why the selling is happening, but it is. The divergences you're talking about can only go so far (as long as there is no 'accounting issue').
If you chart USD/MXN versus FRES there is a relationship, but it's only part of the story...
1-2% since December 2023 doesn't begin to explain the collapse from 600p to 450p. Ditto, c10% peso strengthening YoY wouldn't halve EBIT and the share price...
Hi Poker where do you think the peso need to be for this to move up and have a decent capex ? I was reading that some think peso will weaken during the U# election and the Mexican elections.
The Capex was higher earlier as they were acquiring own equipment to replace contractor suppliers. The process of doing all that is probably moving to just sustainable capex as that process gets fully completed.
March has been terrible for the FX .... dropped firmly below 17 peso/Dollar and only just moved off the low
no wonder they have cut the CAPEX
The question is ..how much have they hedged , and how many Dollars have they moved into Peso ahead of the strength of the Super Peso? ... doesn't sound like the CFO did a lot and didnt expect the super strengthening
457 close USA side. ( pound drops in value) USD gains a little against mx peso.
453.5p taking 1.27 for USA/pound pairing.
Https://www.banxico.org.mx/publications-and-press/announcements-of-monetary-policy-decisions/%7B37E09D62-344B-CB2E-178A-3DFD89B45FAB%7D.pdf
Little impact on currency pairing thus far.
I thought the same. The fact that Zuckerber, Bezos et all have been dumping billions in stock is probably a sign to keep an eye on. Hasn't changed much on US markets mind.
" investors are pushing the world’s most expensive currency to ever more dizzying heights, shrugging off the risks from interest-rate cuts, divisive elections and analyst warnings."
sounds like they are trying to draw in the last of the buyers more like , telling them there are further gains to be made ...whilst some traders quietly start to sell/close contracts
Can't help wondering whether we're off back to 440/442 or below. Dropped heavily into close.
I'm a hold for now. Not going to top up given the bizarre strength of the Mexican Peso as outlined here.
https://www.bloomberg.com/news/articles/2024-03-15/usd-mxn-mexican-peso-so-strong-investors-fear-betting-against-it
Zinc supply tightening ....prices need to rise again after 2023 fall
https://www.mining.com/web/glencore-halts-major-zinc-lead-mine-in-australia-after-heavy-rainfall/
Who knows what the true value range of silver is, as the PM market it highly controlled and manipulated.
One example Reuters
https://www.reuters.com › article
JPMorgan to pay $920 million for manipulating precious ...
Would have been better holding hoc rather than fres. Hoc still up 7% hoc back down to 4%
So has Milk bread eggs and lots of other products lol fres is a disaster of a share. I hope this tries to at least break through 500 by next week..you can see soon as the USA market opened the cult smashed it back down.
I have been expecting a commodities super cycle (and a new high in silver) for years now.
In 30 years time, I will likely hear the voice of my grandchild asking me if the silver super cycle is about to start. 'Any day now, son' :)
Funny isn't it, some investors big and small were constantly trying to front run the Fed and buy before the so-called "pivot". But we've now had two FOMCs considered dovish by the market, yet most PM miners and silver are still in the gutter.
" Toilet paper has held its value better than silver over the years. "
😂🤣😂🤣 👍
Silver down 3% on the day now. Feels like December FOMC all over again, an initial relief rally that it wasn't ultra hawkish, followed by the grind lower...Toilet paper has held its value better than silver over the years.
Might watch Groundhog Day tonight for comfort.
" 520p was the IPO price"
inflation everywhere except in the SP !! lol
Economic recovery will boost silver demand and will be met with silver supply worries IMO ... but will be more in the second half of the year and 2025 than just yet IMO ....
US Facing another Fed Government shutdown ..on spending agreements ( again!) ..... always something to be bearish about ...not going to be all Bull despite gold price rise...which is a certain amount of hedge against the borrowing levels in the US .... Dollar propped up on borrowing rates !!
"The average share price since 1 August up until today is 533p. At the current silver prices we should be heading towards that share price."
Tony, given 520p was the IPO price and 530p was the lowest close during March 2020, I was hoping for a bit higher than that 😂