Member Info for Sharpey

Can someone help me please? Is there another share price that's dropped 15% in three weeks FOR NO REASON? No profit warning. No collapse in the price of the goods they're selling. No explosion in costs. No huge drop in production. NOTHING. Yet "the market" has decided this company is worth 15% less than it was three weeks ago. Someone somewhere is playing this like a fiddle!

What was the gold and silver price in March 2020?

In their last report they said they'd made good progress on tackling costs by moving to automation. There's no way that a near 5% drop in the value of this company is justified by a US inflation figure that's slightly higher than forecast. It was already valued at very low levels.

I should have added and their costs are in Mex Peso's which has fallen. If I've got more Mex Pesos because the US$ buys more of them then it is easier to pay my bills and my profits increase. This should be rocketing on the news of missed inflation figures.

But "Stock markets fell and the dollar rose after the figures as traders bet that the Fed would keep interest rates higher for longer, with no chance of a rate decrease in March and a slim chance of one in May." - from The Telegraph. This should HELP Fress since their revenue is in US$. So why the sell off. It appears that every bit of conceivable "bad news" hits this share price even if it is in fact good news for the company.

I just doubled my investment at 63.20p/share. Happy for this to be a long term investment, particularly if they keep a good dividend (at least half the current one).

I'm interested in what people think about this idea - https://www.theguardian.com/politics/2024/feb/09/jeremy-hunt-may-launch-british-isa-investing-in-uk-company-shares

Interesting that the media are running the narrative that London as a major financial centre is in trouble. There seems to be a number of companies choosing to float in NY. Plus the EU taking away € clearing from London. Things don't look good. My investment in a developed world ETF is up 10% in about 6 months. So I can see investments outside the UK are doing better, particularly US investments.

Bots tried to get it below £5 today but have so far been unsuccessful. Very low volume but still up so hopefully they will continue to fail.

This is why we should pay maths teachers more so that these whiz-kids do something useful like teach kids rather than create algorithms to manipulate share prices.

So back down to before the near 10% daily gain. Who is selling at these ridiculously low prices? Back to where we started just over a week ago. These must be the most volatile shares in the FTSE100. Absolutely ridiculous!

I've noticed that around 2:30pm there's usually a significant movement down. Probably US traders waking up and taking a bite out of this stock.

Anyway, I topped up this morning. So it's bye from me. See you in two years time!

The Q3 2023 report said: "We continue to address the ongoing impact of inflation and the revaluation of the Mexican peso, which we expect to remain headwinds going into 2024, through measures including the greater use of technology,

autonomous drilling and reducing haulage costs. "

So hopefully next Weds they'll be able to say they've done what they said they would do and they've reduced costs substantially. But as I've written before my advice would be, be patient. Look at what happened to Glencore!

Yes that's right. I posted an article on 9 Jan that included info on new mines - https://www.bnamericas.com/en/news/fresnillo-set-to-sink-us180mn-exploration-investment-into-mexico

I'm happy to hold these for a very long time. I had a chunk of shares in Glencore and got these down to 90p break even in early 2016. Then read press articles about Glencore facing bankruptcy and people on this forum wound me up by writing they thought Glencore would definitely go bust so sold them all at a slight loss. Now trading at 420p. I still kick myself about that decision to sell.

Meant 490

Where did you get 460 from? Looks like it is holding up around 480.

I'll see what happens today. If it stabilises I'll jump in at this level. Will buy enough to get my break even down to 5.65 from 6.05. Then I'll do no more and just wait.

The US$ has a huge advantage vs any other currency. It's the reserve currency of the world so central banks will always want US$ and commodities are priced in US$ so every day there's a huge demand for US$ because people need to pay for commodities. This allows the US gov to borrow more than other countries could get away with - a run on their currency due to huge gov debt is less likely for those two reasons.

Currently at £6.06 break even. Will buy more if it gets below £5.10 to get my break even point lower. Will then sell a chunk around £6 as my portfolio is too unbalanced with how much I've got tied up here.

I can't understand why this has dropped so much this year. 10 days of trading and down 13%. What's materially changed in 10 days to cause this? Anyone have any ideas?

Doesn't this mean that US interest rates will stay higher for longer, and therefore the $ vs MXP will strengthen = good news for Fress because income in $ buys more MXP (which it's cost are priced in). If I'm right why has the share price tanked following the US inflation figures?

Yes that's what I'm thinking.