Member Info for carvegyber

Biden and democrat is really working hard to deface USD. My mother is an ass if China and Russia is not quietly offloading their USD and buying gold....

They can keep defacing their currency while US and its allies are all doing the same and because the world's finance industry is dominated by them, no one wants to stick their neck out and call their bluff. China will in due course but they probably don't feel strong enough to challenge for the top yet. I am afraid we are still couple of decades away but gold really is the standard.

Back to Fres, it seems normal service has resumed and Fres is back to tracking the price of PM. Hopefully it will keep outpacing it as it should.

All we need now is another war or two to flare up around the world and gold would be over $2000. Not that I am a doommonger....

Thanks for that duster. Any other good bits?

Did they mention about reserve upgrades?

There will be a lot of selling by people who bought in the 700s taking their 10% profit and moving on. I expect with the re rating, the will be plenty of new money coming in because of the deep value and dividend to say the least. Once the profit takers clear, which shouldn't be too long because volume has been low in the 700s the this would be cleared to keep rising for the next few sessions. With every shake, we will lose a few more profit takers and gain a few more new holders.

I haven't looked into this but with bumper profits, management can choose to massage the figures downwards and attribute more costs and writedowns so that there is more of a cushion for later.

I would expect the FY now to be roughly double H1. That means and EBITDA of $1.5b a year! This company will be super cash rich they will be scratching their heads what to do with it. Record year! Gold miners will all do well generally 2021 but Fresnillo particularly well because of silver!

Looks like volume has picked right up and punters buying for results? I hope the trickle will turn into a rush soon....

You do have a point that I fear. Initially I felt that for 15 min when the production report came out and then the SP rose and rose. Up 10% from the lows.

We can only wait and see. GDX is poised for a breakout so let's see if the trend reverses. I am hoping that there will be a slew of positive results across the world's miners thus setting off a bull.

Oliver, crazy we are at this price isn't it? I am really keen to see the analyst reaction over the next few days after the results are out. If there is a slew of upgrades on ratings, then we know the analysts are backward looking rather than being able to work out what is coming.....

Someone let the fizz out. Just dreading the return of the bears now. LMAO....

volume on this is actually still relatively good but trading sideways. Spread still tight so any gold upside should see this break upwards.

Gold is so poised to break above 1830. It is consolidating very hard at this level. A break would be decisive I think. 1870 or even 1900.

I have not seen spread this low for a long time.... good sign

Sharem, interesting your figures. I have on my fag pack that half year revenue would be up 40% YOY..

if your freecashflow of $600m is for half year, that would be about right. 2021 will be a very good year and if PM prices starts moving up and production exceeds guidance, then £12. Meanwhile, it is really good to see the 800s again and very please I won't have to hear the ridicule of Perma Bear.... LMAO

Tester, you are right. In times of high PM prices, the producers can pay out very high divis. Look at Newmont, Poly, CEY.

FRES seems focus on developing their licences rather than acquiring and frankly, I see no point in doing so as they will all be wanting to mark their reserves to current PM prices. Future looks bright too. FF a year a 2, gold may be an entirely different beast from now if real rates stay negative or even go deeper negative.....

I believe this is them being conservative in their guidance. Q1 was unusually high but Q2 gold is more in line with past years. If production still continues at 200kox in Q3, then they will probably upgrade forecast then. There is no expectation of sudden fall except from Noche Buena's slow decline which was in the plan but didn't pan out that way (thankfully). This quarter has been very good at Noche Buena too which is not expected to continue.

I have decided to get my calculator out too. I think the H1 21 revenue will be up $400m over H1 20. Considering EBITDA of only $469m in H1 20, 21 would be almost double. Now the humdinger comes from the profit increase. Profit for H2 20 was only $56m and $71m for H1 19. If you were to add $400m directly to $56m, this would be $456m which is 800% increase! Of course from that you would deduct what ever cost increase there was such as increase exploration and admin but I don't see that as a massive increase. Call it 700% increase say!

OMG

This is in many ways a strong indicator of results. They went back to their calculators with the production figures and realised that this in very undervalued so they buy!

BTB, you are right in that GDX is down despite gold being up. First of all, I am not sure you can equate great reset with nationalisation of latin american and African mining companies. Secondly, mass nationalisation is a fairly far fetched theory. It certainly won't happen in North America and I am pretty sure it won't happen in Mexico due to the American influence. You might have the odd basket case countries like Zim, Peru, Egypt, Africa proposing to kick out foreign ownership but I can't see that happening in a widespread manner.

Good one for conspiracy theorists to mull over but I don't think it will happen soon. Other factors are causing investors to shy away from gold miners.

Haha. You can take anything you want to use but you don't know who is in charge of money and what can be used to preserve your wealth also what is to become of the world you emerge into. The key is to hide it away and preserve your wealth. Something you think could still have value and can't be destroyed......

Unless you get alzheimers and forgot where you buried it. LMAO

Gold has had its day? Let me ask you a question instead.

If the world is going potty and you are not sure if you can but anything with your money, electricity is cutting out, fire burning everywhere and I give you a choice of 3 assets you can use to preserve the million quid you have right now to bury in the ground to hide it from looters, what would you choose? Bitcoin, gold, or any other asset?

Answers on a postcard.