Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
In my view the problem is the MXNJPY exchange rate. Although the Japanese have now abandoned negative interest rates, the carry trade is alive and well where people sell yen and buy MXN because of the interest rate differential. FRES's costs are in MXN and the revenues are in dollars. Until the MXN interest rate differential starts to ease, FRES will struggle even though the price of silver and gold are going in the right direction.
Shares went up because the share price had adjusted for the bad news in the RNS issued in December and there was no more bad news. For gap watchers 2457 and 2472 were the targets. They were both taken out. I am wary of other technical patterns. As a stock it has a tendency to trade inversely to GBPUSD.