Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
The lower end of the descending wedge pattern is around 530. Personally, I doubt we'll get that low but we're still making lower lows and lower highs and I expect another lower low. So I won't be surprised if we get below 550 before we see the Q4 results. Hopefully, after the results we'll break out of this pattern and move towards 700.
Gold and silver shares are hardly moving or are even down though despite the spike in gold. Seems no one believes this rally will last.
Going back to FRES it seems that we've failed to have a breakout and are stuck in the descending wedge pattern. The top of the pattern, at least the way I drew it was 670 and we got there and went straight down. Here's the chart:
https://scontent-lhr8-1.xx.fbcdn.net/v/t1.15752-0/p480x480/82084734_762914144195993_4031384401425203200_n.png?_nc_cat=107&_nc_ohc=DMxHsRgTNt0AX-upz45&_nc_ht=scontent-lhr8-1.xx&oh=6b090cda42661c9c86ff1974cb4c31a5&oe=5EA8775A
I for one am quite disappointed with the price action, gold's up 3.5%, silver is up only half of that 1.75%, so clearly lagging, it should be at least at 19 at this point.
On top of that FRES is up 1.5% even less than silver. You'd expect us to be up at least 3-4% when silver is up 1.75%. I'm seeing this with other PM stocks.
Clearly the market doesn't believe that this rally will last even though we have a clear technical breakout in gold. And silver is really lagging, should be at least at 19.
Unbelievable, I've just sold few hundred quid worth of shares at 69 and the price went down to that level even though it was showing 71 as I executed the trade. Perhaps it's just a coincidence but this share seems to be very thinly traded. Any idea what's the volume on the LSE listing?
Also quite disappointed with the price action, gold's up 3%, Resolute was up 3% before my trade and is down now. You'd expect us to be up 10% when gold is up 3%. I'm seeing this with other PM stocks. Clearly the market doesn't believe that this rally will last.
We're getting close to the £1 target we were discussing on here. I've taken my principle off the table and I'm now playing with the house's money (still 2% of my portfolio). Let's see how far can this one go!
Don't mean to boast but I've made 50% return on my initial investment so have to say a big thank you to the team at Begbies for delivering value to shareholders.
Wish all long term holders a happy and prosperous New Year!
Taff,
I've just logged to complain about the same thing. Hopefully, if silver stays above 18, FRES will go back up. My TA skills are nonexistent but doing a simple descending wedge on FRES' share price chart we should be able to easily go up to 670 without requiring a breakout. I expect us to go up again to at least that level.
If silver plays ball we could finally break that descending wedge pattern and go above 700!
This prediction is based on TA. I think TA is fine for short term trading and getting in and out of positions but basing a long term strategy, especially as something as volatile as mining stocks, on TA is a bit of joke. That's putting it politely!
We've all seen how the SP was influenced a lot by the shorters successful attempts to demote FRES from the FTSE 100. Stuff like this influences the SP short term, TA and the people that pay attention to it do as well.
Long term however, the value of the company hasn't changed at all! Whether FRES is in the FTSE 100 or in 250 doesn't change the value of the mines, the silver oz in the ground and cash flow FRES will have from mining those oz. If anything we should thank the shorters for giving us an opportunity to scoop up some shares on the cheap. I'm almost at a complete position here but will add more shares once I get my Xmas pay check.
Dear shorters, thank you for the Xmas present!
"High grade intersections returned below existing Mako open pit
Supports Mako mine life extension potential
Exciting drill results build on exceptional operating performance
Aggressive drilling campaign planned for 2020"
https://www.rml.com.au/investors/asx-announcements/
London based Matthew Gordon from CruxInvestor has just posted a new interview with Resolute's CEO:
https://www.youtube.com/watch?v=aFm44huLuJc
Just a comment on the cash burn for building Juanicipio.
Let's start by mentioning that the grade and resource size at Juanicipio shouldn't be understated. Probably one of the best silver finds this decade and they just keep finding more. Obviously it's run together with MAG Silver.
On how much they are spending, FRES has a history of overbuilding underground, as they are planning ahead and considering that they will probably discover more gold/silver at the site than confirmed at mine construction start. In addition they also design their processing plants in such a way that they could easily be extended.
At Juanicipio they have infrastructure that can handle twice the originally planned 4000t/day and while the process plant if built for 4000 they should be able to extend it to handle a lot more. Not saying they will go to 8000t/day but I expect a lot more than 4000.
Obviously all of this costs money but it's going to pay off big time in the near future!!
Apparently the reason for today's big rise were decisions made by the Mexican Congress yesterday:
https://twitter.com/IKN_Mark/status/1199426898566078464
Forgot to mention the debt comparison. In 2014 Long Term Debt was 21.43m and now it's 17.56m TTM, so even better than before:
https://financials.morningstar.com/ratios/r.html?t=0P0000FVJ0&culture=en&platform=sal
Nickel, in 2014 FRES had FCF of -300m versus the current -175m TTM and the lowest the share price got was 769. Silver at the time was $14.50. The share count is stable at 737m so there has been no dilution.
So just based on the balance sheet and the silver price one would think the share price should be a lot higher than 769. We're trading at 550 atm. I feel it's all based on negative sentiment and probably a short attack to get FRES out of the FTSE 100.
Personally, I've bought more shares at 551 this morning. Almost at full 10% position already but would be happy to add more if it keeps dropping or we get the boot out of the FTSE 100. Would I've been better off investing in Pan American? For sure. But now that I'm in this pickle I might as well make the most of it!
Here's a link to a map on Tweeter with all the recent security incidents in Mali. Quite a few of those are uncomfortably close to Syama I have to say:
https://twitter.com/julesdhl/status/1194659816788115457
Bought back most of the shares I had sold earlier this month. I think it's a good place to top up. It might go lower towards 600 but I don't want to wait and miss the boat.
Again FRES lives up to its reputation as a zig zag share.
Great news out by the company today. Gold production guidance is in tact - 400,000 oz. Fixing the Syama Sulphide Circuit will take only 6 weeks and thus not affect it. I can't say I understood all the technical bits but it sounds like they are also trying to work around the issue and bring forward maintenance on other parts of the equipment while they are waiting on the Sulphide Circuit to be fixed.
The share price is reacting accordingly - we're up 11-12% this morning. One more day like this and I'll break even. Though remember saying this before haha.