Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
We're at the lowest share price versus precious metal levels FRES has ever seen...Still no serious interest in the low 600s and again it heads closer to 5 quid. Extraordinary.
Imagine writing 18,652 posts of absolute tripe...Must be exhausting.
A 20-30% recovery for FRES means a number of big buyers are going to have to get their wallet out. As it stands, if they do exist and are watching then they clearly think that 618p is too expensive...And that's if PMs hold their current levels.
DrJamain where have you been the past year? The share price has HALVED over the last year precisely because the big holders were offloading, also see how low volume has been the last few months.
There aren't many buyers now hence it didn't spring back after the RNS -14% mauling and then fell another 10% after that.
A bargain at 613p? It was apparently a bargain at £10, £9, £8 and £7 so I think the use of word 'bargain' is obviously understating it's value here...
By the 'noise' you mean smart money and invitationals dumping FRES by the truckload because the management have proven to be at best incompetent whilst continually overpromising to the market, or at worst blatantly deceitful and untrustworthy...I'm actually now of the view it's the latter.
As someone else noted, perhaps they're looking to go private and hoover up the 25% free float at £4-£5...FRES do not seem concerned at all by the SP performance and basically stuck two fingers up at investors on that call.
We've said 'this is the bottom' from 900p down to 630p. If Fed monkey hammer comes out at NY open then this could easily go to 5 quid.
Pokerchips, the Fed has got everything wrong since Volker so I wouldn't hold your breath.
Caitlin you've been drinking too much of the Keith Neumayer and Peter Schiff Kool-Aid.
Ossingh you've been long on FRES for a while but only 3% down, how does that work out? It's 30% down this year and >50% lower than 2020's high.
I love these posts from people with their wisdom always after the fact. Nobody, not a single soul on here or similar boards forecasted a free fall as acute as this. Not even remotely close. The general consensus was typically predicting '10 or 11 quid any week now' and 'we've definitely turned a corner, next leg up now'.
Yet apparently some magically bought and sold at the right times despite FRES share price resembling a drunk chimpanzee flying a Sopwith Camel.
The only ones who knew were the smart money/insider traders who were unloading before production reports.
Why not DarkKnight?
FRES is a very poorly run company, continually overpromising and underdelivering; institutionals are quite rightly peeved and their dumping it in droves. Still no big boys are interested at these levels.
Real rates have been deeply negative for a while yet PMs are still way down from 2020 and 2011. As the Fed tapers and raises rates (by how much remains to be seen), PMs are in all likelihood only going south.
It's funny when people say FRES could be x price given the right conditions.
There are also conditions in which a penny-farthing manufacturer could have the largest market cap in the world, it's just those series of event are extremely unlikely.
If you'd done your homework you'd know it's 400-420p. This was obvious from the triple Salchow pivet yesterday. Today it became yet clearer with a reverse Harlem shuffle and a 422nd spike in the 17.73 day moving average. It's pretty basic stuff really.
Show me a rich chartist and I'll show you an honest central banker.
It's 26% down in the last week and yet there are still no big buyers in the market as FRES slips further into the abyss...That should tell you something.
Listen and watch the smart/insider trading money. They knew there was trouble and were offloading prior to production report whereas the dumb money here was screaming '10/11 quid any week now'.
Show me a rich chartist and I'll show you an honest banker...
Seriously though, great day for PMs and dare some believe that THIS is finally the turning point? Silver's movement in the last few days has been belatedly refreshing but FRES is still unbelievably flat over the last 5 days. We should be around 11 quid at a minimum!
Let's hope Dimon and his mates at the Fed don't unleash the monkey hammer later or tomorrow...
*Rather it plummeted as it was forced down triggering stops and shorts exit then rocketed back up. The volume is so low now it's crazy, one can see how easy it is to manipulate intraday...
Look how long the opening auction is taking! Something smells very fishy again...
Last time this happened it rocketed up in the first minute to let the shorts exit and then share price dropped like a stone.
That was a tad of an overreaction by the market to my purchase of a box of Queen's Beasts.
DXY is north of 95, not much of a 'turnaround' from 96 a month ago.
FRES might be 'undervalued' in people's fag packet calculations but that doesn't count for much today. The company continually overpromises, underdelivers and has lost the trust of some institutionals and smaller asset managers who continually offload it. Peñoles are poor communicators and clearly don't give a **** about the share price and more investors have also woken up to this.
The concerning thing is, gold is still north of $1800 and silver close to 23, another jump in yields will see both PMs hammered and FRES probably closer to 6 quid than 8.
Any realist or someone with a contrary view to Carve, Kando et al weekly word salad of wrong forecasts is an alleged 'deramper' or spreading FUD.
Meanwhile, FRES plummets another >3% today despite gold being flat and silver only 50bps down. Classic.
The funny thing is, even if gold did break and hold this arbitrary 1835 resistance level and head towards 1900 again, I suspect FRES would still struggle anyway.
Kando do you even what know DXY is?
It's a trade-weighted basket of currencies against USD, heavily weighted towards EUR. Why on earth should DXY be in the 70s and how is USD 'weaker' than EUR, JPY, GBP etc.? They're all fragile economies on the way out and engaged in currency debasement, yet Japan have been doing it far longer than the West.
Eurozone and Japan yields are close to zero whilst both economies have serve structural problems and are entering their twighlight zones with impending demographic (ageing) crises.
Ipso facto, why would there be a wave of investors rushing out of the US dollar and running for the Eurozone and Japan?
USD is the cleanest shirt in the dirty laundry of fiat currencies and will be the last man standing.