Member Info for PortfolioPower

From FRES Website

RENEWABLE SOURCES ELECTRICITY USAGE

86.6% Renewable Consumption

https://www.fresnilloplc.com/investors/investors-and-shareholder-information/investment-case/

"the US has ten trillion Dollars of debt maturing over the next year or so and need to create some sustained inflation again to reset the banker's debt ponzi and give them room to get that new debt away, even at the short end where they've now forced to p(l)ay."

👆 This 💯

Well said

Turnover is VANITY

Profit is SANITY

Production up or down a few % is completely immaterial if your profits are up MASSIVELY.

if you go from earning a just few dollars per Oz produced as we were a few years ago

To suddenly earning huge 1000%+ plus in gross profit growth with Silver at these levels 📈

I'm glad many just can't see that FRES Is going to make MORE profit in 2026 than TESLA recently announced it made last year.

Nothing moves up in a straight line

But, when reality kicks in, which it will, then you'll see this repriced at many folds up from here.

GLA

2026 outlook and longer term prospects

· Attributable silver production expected to be in the range of 42.0 to 46.5 moz.

· Attributable gold production expected to be in the range of 500 to 550 koz.

· Expressed in silver equivalent ounces2, production is expected to be 82-91 million ounces.

· Capex for 2026 is anticipated to be approximately US$765 million and will continue to be primarily focused on mining works, sustaining capex, optimisation projects at Herradura, the deepening of the Jarillas shaft at Saucito, a haulage conveyor at Juanicipio, and tailings dams.

· Exploration expenses are expected to be c.US$260 million, supporting intensified drilling at our operating mines, continued de-risking our advance exploration projects, and starting drilling at Probe Gold.

-----

Expressed in silver equivalent ounces2, production is expected to be 82-91 million ounces. >>>>>>

> What average price do we think we will see over 2026 for Silver???

>> Times that number by say the mid point expected total equivalent ounces.

- Less forecast costs.

On a sector average Price/ Earnings of 26 This remains deeply undervalued at present metal prices

Do the math..

FRES reported record attributable profit surging nearly 600% a 30.5% increase in total revenue to $4.56 billion. Operational success included gold production exceeding guidance,

Reduced adjusted production costs, and the declaration of the highest dividend in the company's history.

All of this with average silver price of roughly half of what today's price is.

Even if Silver stays where it is, the profits are going to continue to rise dramatically by the next reporting period.

Just had the first tranche of some trailing buy orders execute. 👍

I think HBR are the largest operators in the NS

ORCA is one small cap I've been in and out of

Holds a number of licenses and is carried on one if they get the green light

Initial thought...

HBR / JOG / ORCA

Any initial news yet from Reeves meeting with the Oil and gas sector today?

Anyone got a view on which UK O&G comps could fly on news of new drilling in the north sea?

One final 'old post' from me from when I used to throw some longer term fundamental analysis in alongside the technicals as the BB was very quiet at that time.

We have had the initial boost... the 2nd / 3rd and 4th boosts are yet to play out over the next few years.

GLA

--------------------------------------------‐--------

PortfolioPower

Posted in: FRES

Posts: 5,167

RE: Sector moving23 May 2024 13:04

I think that's right Pokerchips.

As recent as January last year the SP was tagging 1000p here with silver trading below $25/oz and similar inflationary pressures.

The USD to PESO last January was trading at 19.14 peso to 1 dollar exchange rate.

So it's around 20% higher inflation now.

And silver moving from $25 to $30 is a 20% move.

Yet the SP is languishing down here still from those 1000p levels with effectively the rise in silver presently ahead of inflation.

I would also imagine that the company will have been hedging out its FX requirements to control costs further.

The chart is suggesting that that the inflation peak may have been reached as you mentioned.

But the SP is nowhere near back to those 1000p levels (yet)

If Silver remains above $30.... or starts testing levels above

Plus.

If you are correct with the exchange rate peaking now around 16peso/

Combined with the dollar /peso moving in the right direction then that should fuel a 'double boost' to the SP here.

Triple boost from a reduction in interest payments

And icing on the cake should be.

"An exciting development pipeline and a very strong balance sheet. This means we are able to seize opportunities - whether for M&A or to develop new growth projects - as they arise."

Hopefully more to come on that final part around 'growth projects' as the year plays out.

Simple revaluation of the balance sheet assets recalculated at these higher Silver prices should do the trick imo.

GLA

Still true today also...

--------------------------‐-------------------

PortfolioPower

Posted in: FRES

Posts: 5,167

RE: 611p

23 May 2024 17:36

Tinely reminder that it's good to zoom out a little when looking at the PM charts.

Not sure which time frame any of you guys are using?

If you switch to fhe daily chart for Silver and zoom out a little...

...... as someone else mentioned

"I am not selling anything ..because the reasons to buy PM are still in place"

Captain,correct, it is DISTRACTION.

I posted the below on here in May '24 and it's still all true today.

----------------------------------------------------

PortfolioPower Posted in: FRES Posts: 5,167

RE: 611p

23 May 2024 18:49

There are stacks of juniors that are just showing signs of breaking out of their 2020 downtrends. that we've seen in most of the junior space.

I posted up some STOLEN T/A over on GJGB back in October pretty much bang on the floor for the sector at that time. (Don't have to scroll back too far to find it as not many post over there)

Two predictions were in that

One, that Gold would move over $2000 by the end of 2023 - Well we can all see that it's continued to run and run.

The second was that the juniors would put an almost 100% move in.

Now some juniors have definitely done that, but the sector index certainly hasn't (yet).

So guess that highlights sorting the wheat from the chaff.

What will it take from the index to really start to breakthrough?

Can't see the central banks of the world stopping buying Gold now that they have switched from holding US treasuries in favour of Hard metal.

We've had several decades of the US military showing up on the doorstep of countries any time any nation has previously hinted at pegging their currency to Gold or paying for oil in anything other than dollars.

However, It's now starting to look like the days of the petrodollar could be numbered if the Brics nations launch a gold backed currency what would the gold price have to move to?

Seen some truly eye watering price predictions.

Gold and Silver are still massively under represented in the average portfolio (although not likely the readers of this forum) .... :-)))

With the average portfolio only having exposure of about 1.5% to PM's.

If the plans to ussher in CBDC's are going to be rolled out as soon as 2030.

I wouldn't be surprised to see your average mom & pops investor driving demand for Gold and Silver (gods money) through the roof over the next few years.

Nothing goes up in a straight line but I expect the ATH's for Silver to be comfortably taken out at some stage.

GLA

The reason I've held a position here for the long run isn't about the war in Iran

Or what might happen to Cuba

Or about the Silver manipulation

The longer term trend as I see it is the debasement of many global Fiat currencies that will quicken over the next few years.

Only need to see what the debt to GDP of most the majors currencies is.

That suggests a systemic reset of some sort is brewing and a significant re pricing of metals.

Jane Street has just become the biggest holder of SLVR overtaking Blackrock and JPM is quietly stacking physical silver.

Interesting times ahead.

Why try and suppress this info though?

It's data direct from COMEX showing how their vaults are running low on Silver vs open contracts

The fact non of the miners are able to miraculously switch on additional supply means the supply squeeze is only going to be brought into sharper focus.

Who has deleted my previous post and link?

https://goldsilver.ai/metal-prices/comex-silver

What is it that they don't want folk to know?

This above link shows that the vaults are running out of Silver

Why suppress this info?

N.b.

Taken from the site

"Inventory depletion estimate: ~103 trading days if recent withdrawal pace continues."

"Data Sources

This dashboard is based on publicly available COMEX warehouse reports and futures market statistics published by CME Group.

Inventory levels reflect reported balances of registered and eligible silver held in exchange-approved storage facilities. Futures market data including open interest and trading volume is used to estimate paper market exposure and potential delivery demand. Each standard COMEX silver futures contract represents 5,000 troy ounces.

The figures presented are derived metrics and analytical indicators calculated from the latest published exchange data. Values are updated as new reports become available and may reflect reporting schedules, revisions, or publication timing."

2026 outlook and longer term prospects

· Attributable silver production expected to be in the range of 42.0 to 46.5 moz.

· Attributable gold production expected to be in the range of 500 to 550 koz.

· Expressed in silver equivalent ounces2, production is expected to be 82-91 million ounces.

· Capex for 2026 is anticipated to be approximately US$765 million and will continue to be primarily focused on mining works, sustaining capex, optimisation projects at Herradura, the deepening of the Jarillas shaft at Saucito, a haulage conveyor at Juanicipio, and tailings dams.

· Exploration expenses are expected to be c.US$260 million, supporting intensified drilling at our operating mines, continued de-risking our advance exploration projects, and starting drilling at Probe Gold.

-----

Expressed in silver equivalent ounces2, production is expected to be 82-91 million ounces. >>>>>>

> What average price do we think we will see over 2026 for Silver???

>> Times that number by say the mid point expected total equivalent ounces.

- Less costs.

On a sector P/E average of 26 this is looking deeply undervalued at present metal prices

FRES reported record attributable profit surging nearly 600% a 30.5% increase in total revenue to $4.56 billion. Operational success included gold production exceeding guidance,

Reduced adjusted production costs, and the declaration of the highest dividend in the company's history.

All of this with average silver price of roughly half of what today's price is.

Even if Silver stays where it is, the profits are going to continue to rise dramatically by the next reporting period.

No, JMAX / Democrat

Running Multi ID accounts of different names is strictly prohibited and against FCA market abuse rules.

How many other ID'S are you running on here?

Oops

Looks like you logged into your other Multi ID account there! :-)))

@ updownflat - Agree with that

£55 SP will be just the start with PM prices in the present range.

When you start applying some of the 2026 Y/E Gold price forecasts made & simply maintain GSR for Silver it starts significantly multiplying the EBITDA by orders of magnitude.

GLA