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Silver and gold moving back up now after a breather yesterday
And the MCB... The trip back down to 6% will be epic here
Again. Not a great comp long term. Trade on the 10-20p swings with stoploss. If silver falls to 29 this will fall back to 550. Their are to many issues at play with Fres inflation/ peso so on. A lot of dreamers on here. So buy now sell 2moro morn, easy
This is a buy.
Look at the money Fres brings in and not to mention employment. The green agenda needs a huge amount of silver.
That was what probably held FRES in limbo for the last few months. From Louis James letter:
Mexico Risk
I spoke with many people about the political situation in Mexico on my recent trip there. Almost everyone thinks that Claudia Sheinbaum Pardo, AMLO’s anointed successor, will be Mexico’s next president. The election is on June 2. There’s no run-off. If she wins by a single vote, she gets the presidential sash.
My “man on the street” interviews with Claudia supporters suggest that she does agree with AMLO’s hostility to mining.
This is no surprise, given that she’s an academic who’s written over 100 articles and two books on energy, the environment, and sustainable development.
Or at least, she pretends to be uber-green, as that’s what it took to get the Green party’s endorsement.
Either way is bad.
She may still stab both in the back once she’s in office, of course. My family sources with government connections see this as human nature—at least, the nature of the type of human who becomes president of Mexico.
That’s a nice hope, but hope is not a rational basis for speculation.
The good news, such as it is, is that Claudia is seen by anyone not in the AMLO camp as such an unmitigated evil, her opposition is unusually united. Even the PAN (right-wing party) and the PRD (hard left party) have joined forces with their old nemesis the PRI (former ruling party) to support the alternative candidate, Xóchitl Gálvez Ruiz (Xochi, pronounced “Sochee”).
It doesn’t prove anything, but as it happens, I saw only pro-Xochi marchers in the streets during my visit. No Claudia marchers.
Now, Xochi is still behind—polling at about 34% to Claudia’s 54%—but conservatives say that Mexico suffers from the equivalent of US liberal media bias. The media largely support AMLO, and so the polls are seen as slanted to create the impression of an insuperable lead by Claudia. They say that Xochi will surprise The Mexican Powers That Be the way Trump surprised the liberal establishment in the US in 2016. It’d help if the third highest-polling candidate, Jorge Alvarez Máynez, bowed out and encouraged his 10% to back Xochi.
Again, that’s a nice hope, but there’s absolutely no clarity on the odds here. This too fails to count as a basis for rational speculation.
What to do?
The safe way to play this is to assume that Claudia will win, that she’ll be very bad news for mining—even underground mining—and to reduce or eliminate exposure.
We now have the green light from JP Morgan to move up and suddenly the trading feels very different
JP Morgan sees lower political risk in Mexico for Fresnillo, stays 'overweight'
(Sharecast News) - Analysts at JP Morgan sounded a confident note on the outlook for precious metals miner Fresnillo ahead of the next presidential elections in Mexico.
The latest polls were showing a wide roughly 20 percentage point lead for Claudia Sheinbaum, the candidate for the Morena coalition, over her rival Xochitl Galvez.
However, the analysts believed the outcome would be "marginally more balanced" than polls suggested.
"Thus, in a scenario of narrower victory, we could see a stronger system of checks & balances as it requires two-thirds majority in Congress to pass constitutional reforms," they said.
"Thus, we see relatively lower risks of legislation or constitutional changes which could be negative for miners or pose potentially negative implications for mining investment compared to previously."
As well, year-to-date gold and silver price gains of 14% and 34%, respectively, meant that Fresnillo shares were offering a mark-to-market upgrade on its earnings before interest, taxes, depreciation and amortisation of more than 20%.
They were also changing on hands on 5.0 and 4.4 times, respectively, their sport EV/EBITDA multiples for 2024 and 2025, compared to a mid-cycle average of approximately.
The analysts also referenced their recent decision to revise their long-term price forecast for gold from $1,600/oz. to $1,800/oz..
Agree bushy.. and there are a few auto trades at that 632 level, once they are out of the way its onwards to 7000p in the not too distant few weeks
This morning's gap up was to clear the 1 HR 50ma.
Gaping clear of MA's are signs to add or cut positions.
We've had 2 in 2 days now
700 seems nailed on now and not too soon either
Really interesting reading. Thanks for sharing.
With current gold and silver prices, annual EBIDTA is more than $1 billion.
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Nice figures.
This is a fantastic stock, 3-6 months to see the value
Nice recovery, glad to have taken a few more last week but that's my trading pot all in now.
Well, ARK... we have hit $32 up from $30 on friday... momentum seems to e on the up
Barhunt I meant Fres drops like a brick soon as silver drops by a few % opposed to HOC which hardly moves when silver drops, like today fres was up to 623 and US opens and of course how obvious they were going to flood the crimex with fake contracts to smash silver down and soon as silver moves to 31.50 USD, fres drops to 608p
Not true. Fres goes down very easy on bearish silver movement but lags silver on upward trend. Not a great stock really just good for quick small trades. Always keep a stop loss on Fres, if silver turns quickly this will drop heavy.
Silver smashed down soon as the USA opens by over 2% from the High of 32.20 today. Crazy.. fres really moves on the PM movement opposed to hoc and others..
28-May-24 JP Morgan Cazenove Overweight 750.00 800.00 Reiteration
If we can break 660 should be a swift move to 800 then 1000. Looks like we gonna need $35+ silver though
Silver at $100..
https://investinghaven.com/silver/can-silver-price-rise-to-100-usd/#:~:text=Silver%20will%20likely%20rise%20to,endpoint%20once%20it%20clears%20ATH.
Thats a good number.. wonder what their time scale is.
JPMorgan raises Fresnillo price target to 800 (750) pence - 'overweight'.
With current gold and silver prices, annual EBIDTA is more than $1 billion.
Gapped up on the hourly to clear the 100 hour ma... Fingers crossed that's support now