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Yep the market are sure not impressed with their antics.

I suspect this opens up a lot of issues that the Centamin Board had stabilised with the Egyptian Government. The Endeavour proposal reduces future payments to Egyptian State. It also does not consider West Africa and Egyptian Government capital gains taxes. It may open up Sukari mining license again. A non-starter and has added company risk and action is hostile.

I have gone through all the annual reports from 2010. I have examined, revenue, profits, balance sheets debts and examined the share price against that data. With the presentation given today, I still calculate the mean value share price of Fresnillo as 660p taking precious metals of H2 as continuing through out next year. The key will be good silver prices. The most expensive AISC mine is the operation being closed and cost savings will help profitability overall. .

A far more detailed document is on the government website. When reviewing the cost impacts, silver production as expected with the new mine was to generate just over 11% additional profit for the company by 2022. The decision to reduce gold consumption appears to be impacted by reducing the timing of new projects coming on stream from resources to reserves and future mine development. These drop future income by around 14% and annual expenditure by around 10%. The company share price is now far more influenced by the silver price than before as an 11% swap over takes place. The company is applying a lot more focus across its existing resources. The higher gold prices and hopefully silver getting back above $17 will keep a floor under Fresnillo as they get through a challenging 2020.

EAS10 Your comments are spot on. My own analysis on production, payment of debts, cash available to spend, the prevailing oil price and share movements since the right issue identify the price should be around 168p mark. The company is forecasting the debt to go down to $2.8B. If they achieve that target it equates to a an SP improvement of 20p. Assuming the stock is discounted for another missed target we get 148p. If Tullow is reacting to the oil price $60 for Brent still equates to 168p area. Carapa has a huge influence on the uplift which is equivalent to at least $12 increase plus in Brent and being held at that level for a good six months. A successful March outcome with oil in the 60's per barrel gives a share price around 215-218p.

Oil has held a key support line. It has yet to go over a cliff.

The stochastics reading has never been lower than it has at the close this evening. The RSI is massively oversold. $1.3M of value has been taken off the company in 17 days. I am not sure how far down they will take it but they do have oil prices well hedged. As it drops I add a tranche as to try and keep near 10% down.

Daily Stochastics at 1.0 ( range 0-99.9) . RSI on daily is smashed. Looks like a capitulation point.

3rd tranche bought at 132.97. Average now at 144.75.

The oil drilling of Carapa to be completed in early January or possibly late December. Tis confirms oil play. The lab results take two months for analysis so the commercial decision arrives in March. Confirmed oil strike takes the share to 170p area. The lab result and on-going recovery in production for TEN and Jubilee takes this puppy back to where it was before.

Going back to the original transcriptions on Q and A on the original Guyana oil well with Jethro, the company emphasised the importance of lab tests results. They made it clear they were only after one commercial strike and the favourite was Carapa near Lisa block discoveries. They made it clear that the balance sheet can only afford one area of commercial exploitation as a lot of call on funds is Africa based at present. Carapa scoring a strike hit followed up by confirmed good lab results is a major revaluation of the company stock. This goes right back to 205p on that kind of news. So if Tullow keeps going lower get ready to back up the truck if you fancy a punt.

Patience is needed for Tullow. Water injection issues are expected to be resolved in the Ghana off shore fields by Friday. Gas off take gets resolved early Q1 and then back to full production. Carapa news probably in January near 4th quarter report. The company should be able to hit 92,000 from 87,000 this year during 2020. These developments should improve share price. A close above 141p is needed to establish a bottom on the SP.

Mrd We need a close around 584-586 on Friday to give that higher high close.

Look for higher low closing and higher highs at the close of day for remainder of this week. Next Monday is the key day and we should get a presentation RNS or at least posted on Fresnillo company website.

Bottom formation being created on the chart. We shall know for sure by the end of this week. Do not be surprised to get an RNS of some kind to say who has crossed x% of ownership in either direction.

ooooh Possom's shorts are on fire everybody. You know, the one who does not understand how growth stocks work.

https://uk.finance.yahoo.com/news/one-ftse-100-worst-performers-142459584.html

The monthly and weekly charts suggests the bottom will be in around mid December and a good rally pick about that time. Coincides with decision on China USA part 1 trade deal. High 130's is a good initial entry for stake builders. Downside is not that great at current levels. If Carapa hits oil we should see 20p rise and be back up to 170p. If the company gets on top of its issues quickly in the new year the 180-204p gap in charts can eventually be back filled during 2020 but needs to hit targets.

Nickel Investor

You are only pumping your short. Capex spend in 2018 was $668M and they only got $1269 for 923,000 ounces of gold which was 55% of their income. Lets say the company hits 875,000 at $1410 is still $60M on profit income. The Capex spend is less than last year and is said to be $650M. Yes Silver is down as well but the price last year as $15.50 and no were near the $17 achieved in H2 thus far. What brought the share down was greater depreciation and other factors in the interim report. The share price stabilised around 606p at that time. The Q3 report emphasised Q4 was to be the best production quarter. The only valid issue is whether the production report in January proves it. All the rubbish you pump on cash burn or whatever was priced in from the earlier drops in price during 2018 and all the way through H1. The cash outlays were all clearly reported. The issues of ore dilution are being tackled on many fronts and ultimately are superseded by the new mine end of 2020. All your doing is exaggerating any debt provision the company accommodates to bring growth on line that is ultimately self financing.

My last initial allocation buy went in at 542p giving average entry position of around 593p after all buying costs. The 50% average down buy awaits a confirmation bottom. So if it went down to 450p and I came in 480p on a confirmed chart pattern then my average would be near today's price. Hourly RSIs below 10 do not last forever, 5 hourly was just 19. £2.8B or $3.5B,wiped off the stock since July is quite something.