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Fresnillo - Mexican gold and silver miner


No6

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And now we dip below 470! Where it stops, nobody knows...

 

Just a theory, but looking at charts, its been going down heavy since around the time it wasn't included in FTSE 100, so i'm wondering did funds buy expecting this, get caught out on the technical exclusion and have had to sell out?

 

Not convinced myself as with wider markets falling hard to judge, but when it comes round to September, there might be some buying knowing it should enter the top 100. Any thoughts?

 

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£4.20 now, just when you think it can't get any lower it does. I was thinking that £4.50 would be the bottom but now we could be looking at £4 the way things are going.

 

Man alive! I thought 450 was going to make a nice bottom, apparently not! I would definitely like to buy this share, but it's proving nigh-on impossible to judge an entry price. Let's see if it reaches 400...

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Questor's guide to buying onto gold and silver includes.

 

Silver

 

Silver is also a precious metal that should not be ignored.

 

The price of silver tends to move with the gold price – and should the gold price spike, Questor expects that the silver price will rise too.

 

Questor's recommended investors buy into the world's largest silver producer Fresnillo on January 18.

 

The shares are up 34pc, after the silver price jumped 17pc since the recommendation was made. Shares in Fresnillo remain a buy.

 

http://www.telegraph.co.uk/finance/markets...price-jump.html

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Encouraging move today. Up 5.8% with PM's, against a fall in the FTSE.

 

A bit more and I'll be knocking mine out.

 

There she goes. Outside reversal yesterday. Selling my small amount at 389 this morning.

 

A good lesson there in the value of stops, a derisory £30 profit for a 6 month 'investment'.....

 

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There she goes. Outside reversal yesterday. Selling my small amount at 389 this morning.

 

A good lesson there in the value of stops, a derisory £30 profit for a 6 month 'investment'.....

Any profit is better than a loss. I certainly like this one long term and if silver takes off, this would have to be managed really badly not to benefit.

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Any profit is better than a loss. I certainly like this one long term and if silver takes off, this would have to be managed really badly not to benefit.

 

Agreed on both points. I'm looking to get back in after the next SM sell-off. I was quite suprised by the degree of the sell-off into November and hopefully will be abel to pick it up cheaper in a few weeks.

 

I can't see us reaching the lows again though. I think we get a bullish divergence, low around 150-200p?

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Agreed on both points. I'm looking to get back in after the next SM sell-off. I was quite suprised by the degree of the sell-off into November and hopefully will be abel to pick it up cheaper in a few weeks.

 

I can't see us reaching the lows again though. I think we get a bullish divergence, low around 150-200p?

I think if we get another big sell off in the market in general, the chances are this one will suffer. If the market holds from here, or doesn't drop again much below 4000, the link to the price of silver will probably have more impact on the share price. The higher silver goes, probably the same for Fresnillo.

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Fresnillo had a strange day Thursday peaking at around 480. It's come off by about 10% since mid afternoon yesterday. Hard to believe that this was around a pound less than six months ago, the brave who got in then could have got 400%+ return!!! Unfortunately, I wasn't that brave.

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Considering its Mexico operations, Fresnillo did well to hit 550 yesterday. It is off today though on swine flu fears.

 

LONDON, April 30 (Reuters) - London-listed Mexican silver producer Fresnillo (FRES.L) said its mines remained opened despite the worsening outbreak of swine flu.

 

At 1223 GMT, its shares were down 2.8 percent, making it the second-biggest loser on the blue-chip FTSE 100 index .FTSE, and compared to a 3.4 percent rise in the UK mining index .FTNMX1770.

 

"Fresnillo remains vigilant regarding the outbreak of swine flu. We have taken all appropriate precautionary measures, including postponing all non-essential travel," said Octavio Alvidrez, head of investor relations.

 

"In respect to our operations, we have issued comprehesive guidelines to our workforce and their communities and there have been no disruptions to any of the company's operations."

 

Fresnillo, the world's largest primary silver producer, is majority owned by Mexican Penoles (PENOLES.MX).

 

http://uk.reuters.com/article/hotStocksNew...WLA312720090430

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Could be positive for Fresnillo that the news on swine flu is that it might not be as bad as first thought?

 

May 3 (Bloomberg) -- Swine flu is killing fewer people and producing milder symptoms than the world’s previous influenza outbreaks, an “encouraging” sign for an illness that is spreading easily, the U.S. chief for disease fighting said.

 

The official, Richard Besser, spoke as the newest tallies confirmed the disease in at least 19 countries. Just nine days ago, on April 24, the World Health Organization warned of cases of “influenza-like illness” in the U.S. and Mexico. The Geneva-based international agency said yesterday it may declare a pandemic, a measure of the flu’s geographical reach and ability to spread.

 

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

As tests suggest the swine flu virus in Mexico may be less virulent than first feared, the BBC's Stephen Gibbs in Mexico City looks at whether the response was an over-reaction.

 

http://news.bbc.co.uk/1/hi/world/americas/8031132.stm

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Do you believe this? Fresnillo, is up 38% in a month and has gone from around 100p 4 months ago to 625 today. Hochschild Mining, the forth biggest silver miner in the world, is down 15% in the same month and went from around 80p to 208 today in the last 4 months having bombed in the general market collapse. Hoch has been moving through treacle compared to Fresnillo in the last few months, although there has been little newsflow for either. Even going ex-dividend has done nothing to stop Fresnillo going higher. Go figure. Could the difference in performance be explained in as simple a way that Hoch is listed as a Platinum & Precious Metals producer whereas Fresnillo is listed as Gold & Silver? Surely not?

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638 now, the market is in love with it (until it falls), up 73p today or 13% so far.

 

By comparison, Hochschild Mining 210.25, up 2.5, 1.20%.

 

Can't be that the market likes silver miners? More to do with liking speculation and a quick chance of making 10% in a day?

 

This is the only news I can find.

 

MAG Silver Corp. (TSX:MAG)(NYSE Amex:MVG) ("MAG"), announced today that it has delivered a formal application for a hearing before the Ontario Securities Commission to compel Fresnillo to produce the critical information that relates to Fresnillo's publicly disclosed plans to develop the Juanicipio joint venture property, owned jointly by MAG (44%) and Fresnillo (56%), as part of its Fresnillo II regional mine development plan. The failure of Fresnillo to provide this information resulted in the February 1, 2009 suspension by MAG's Independent Committee of the valuation that was being prepared in connection with a takeover bid for MAG proposed by insider Fresbal Investments, Ltd. (a wholly-owned subsidiary of Fresnillo plc).

 

Following the valuation suspension, both MAG and Fresnillo have had extensive discussions regarding the valuation with staff of the Ontario Securities Commission. Following those discussions, Fresnillo was requested to provide important additional information to MAG's Independent Committee and the Independent Valuator to allow the valuation process to recommence. Although following those discussions it has been agreed that additional information must be provided by Fresnillo, substantial disagreement continues between the companies regarding the nature of the information to be provided.

 

http://pr-usa.net/index.php?option=com_con...3&Itemid=33

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I got stopped out yesterday at about -10%. Arse.

It did fall heavily yesterday and after today I'm wondering if it will do the same tomorrow? This one seems to behave that way.

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