Member Info for fogthemogg

At least with Tony Hayward there were some laughs.

"TeaRex AKA another JMAX alias."

For clarification everybody, that was one JMAX alias (VirSteele) accusing another JMAX alias (TeaRex) of being JMAX.

He/she is stark, raving bonkers. You could actually section someone on this basis 😂

BushyTailed, it's only the release of FOMC minutes tomorrow, not rate decision or Powell Q&A.

"£3.30 is Key in which way?"

It was resistance in December 2023 after the deal announcement, but also a previous support level which broke in autumn 2022 after the announcement of increase in EPL.

330p is that key level, come to daddy!

Haha Anton, who is the prime suspect I wonder?

"To see real movement we need the prices to remain at these levels or go higher, 3=6 months to see the benefit."

Ssshh you can't spoil this relief party! But it's true, silver has only been above $30 for a day and a bit, it was at $26 at the beginning of May. H1 will probably still be underwhelming, but if PMs maintain these levels or better, H2 should be the best since 2021.

"BP stock offers a high dividend yield of close to 5%"

Oh boy Mark, you might be in danger of starting another never-ending debate with that statement 😂

Sinterklaase, thanks for your contributions👍 Do you have a position in FRES then or just stick to silver miner ETFs?

Is Burry buying less than a million quid's worth of much significance? Maybe a little bird told him that BP will shuffle off this mortal coil, aka London Stock Exchange, and head across the pond for a sensible valuation...

LWHL, what price did you get out of POLY at? Or did you transfer your shares to Kazakhstan Exchange? That was such a well run company too which paid juicy dividends, real shame what happened. Could have been worse though, could have been POG 😳 That board makes really grim reading.

Anyone else own Wheaton (WPM) here? Now that is a well managed company, which still has plentiful high grades left. But it never got the attention like First Majestic, which along with CEO Neumeyer, developed a cult following through some savvy manipulation of retail.

Back to FRES, hopefully we've left the 500s behind now because this has a hell of a lot of catching up to do versus peers.

Self-explanatory, what is everyone's target exit price here? I'd be happy to cash out around 60-65p as my average is 29p, that was the resistance level during proposed Capricorn merger too. ATB.

"If RR is now calling it best in class, then that is very pleasing to hear. Big fan of his work."

Rick Rule was telling his YouTube following to buy Fresnillo in 2021, then the share price halved.

Keith Neumeyer was talking up "triple digit silver" and his company First Majestic, then the share price more than halved and it still isn't profitable. He's also diluted shareholders several times.

Then of course there's grifters like Andrew Maguire and the umpteen other contributors from Kitco, Stansberry etc. who have regurgitated the same narrative weekly for years.

What's interesting is that all of the known talking heads in this sector were publicly wrong for many years, in some cases for over a decade. In reality, the sector bottomed in February 2024 but nobody publicly that I'm aware of, came close to predicting that.

Except some people knew didn't they? Hence the price action over the last few years, and particularly early this year...It's just that they never made their opinion or intentions known. Because why would you want to share that insight with anyone, let alone for free? I'd really like to know who they are because they played an absolute blinder, fair play.

611p, let's party like it's December 2023 🥳

Hi Peter, post-pandemic annual dividends are still less than 2013-2019.

https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-cash-dividends-ordinary-shareholders.pdf

Also, see BP Directors' remuneration report as to why the BOD like buybacks, which in turn boost EPS:

"For the 2021-23 performance share awards, we will introduce an earnings per share growth measure".

DK, according to my methodical calculations, FRES will hit 650p again after a decade of sustained gold and silver prices above $5000/oz and $100/oz respectively. But this is on a very conservative basis 😁

Agreed Krok. The multibagger play here is a) a ceasefire and then b) FXPO playing an integral role in the post-conflict reconstruction of Ukraine.

"Within the silver mining sector existing P/E Is disregarded as a measure of potential future SP upside as investors within the sector understand and recognise that it has an inverse correlation as silver miners start to move."

It's funny you say that, as the most successful silver miner investors wouldn't have touched the sector with a barge pole until this year...When everything from Barrick and Newmont to First Majestic and Fresnillo dropped below even March 2020 lows!

Longtimeinvestor, you're dancing around the crux of the issue without succinctly addressing it. Explain how buybacks put more money into the pockets of retail investors? That's a rhetorical question of course, because they don't.

That's cute that you have a certificate framed in your toilet, proudly stating you own a greater % of BP's outstanding stock than a few years ago. But so what? How did that make you richer? If the BOD maintain a bias of more buybacks, rather than pay higher dividends, then who do you think it really benefits? Cui bono?

But talking of "clueless" and seeing as you're a "long time investor", or did you mean a long-term investor? Cast a glance at how much more money you would have made simply buying Chevron and Exxon over the last 20 years instead? It will make extremely painful reading...

Speaking from experience, the BP buyback cultists almost always turn out to be former employees. Objective global investors would not sing the praises of BP as a long-term investment; unless one only bought at pandemic lows it is self-evident why. Even UK institutions have been underweight BP, they correctly looked across the pond instead. That's why the share price is still languishing below pre-pandemic levels, or didn't you notice? The share price never even recovered from the Deepwater disaster, we had a clueless CEO back then too. Some things never change...