Floated in may '08 at a share price of 525p. Shares in issue Dec '08 717,160,000.
Based in Mexico & listed on the LSE FTSE 250 index. (FTSE100 March '09)
Miner of Gold, silver, Zinc & Lead in Mexico
Produces approx 3m Oz silver, 280k Oz gold, 20k tons Zinc, 17k tons lead p.a.(2008)
Fresnillo has three producing mines, all of them in Mexico - Fresnillo, Ci�nega and Herradura; two advanced development projects - Fresnillo II, Soledad & Dipolos; and three exploration prospects - San Juan, San Julian, Orysivo, as well as a number of other long term exploration prospects and, in total, has mining concessions covering approximately 1.3 million hectares in Mexico.
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it is china's antics and gyrations that are currently holding centre stage

Mr Cynic - I do not get you
I am not talking about China - I was not born yesterday.

I am writing about the possible imminent movements of the price of gold, and silver,
and how they may soon effect FRES share price.

It is said that the FED may increase interest rates before the year end, and if so,
this would probably have a detrimental effect on share prices generally.
So look at USA jobs report on 4th, as less USA unemployment may indicate a
possible USA rate hike sooner rather than later.
Could be about Sept 16-17, or Oct 28 - 29, or Dec 16 - 17, when FOMC meet.
I am essentially relaying some economics that I have read elsewhere.

China is another matter entirely.

Gold and silver commodity prices seem weak today - USA job figures out on friday
are forecast to be good, which may hasten a rise in USA interest rates later this year.
FRES down at today's close to six year low, as 2009 - I suggest you wait a few days
for more established / stable gold and silver prices.

rek - i know you follow FRES to the exclusion of all others .... my comment was much more broadly based

whatever the merits or otherwise of FRES, when markets collapse or gyrate wildly, the effects are indiscriminate with the good being chucked down the plughole with the more questionable

MrCynic -
Yes I agree with you, "the effects are indiscriminate" however -

As long as production is good ( we see quarterly production reports ),
one can see the commodity prices of gold and silver instantly as they change.
Fresnillo ( the major silver producer ) income is essentially 50% gold and
50% silver by value. If gold and silver prices are usefully up at any time
and FRES is down, I wonder why, and this indicates I should hold on for a turn.

Together with sight of the NMIX index ( top 350 excluding finance co's ), and
gold and silver prices, I feel one can better assess FRES on a minute by
minute basis, and I could not do this with say RR., Weir Group, or any
bank . You could argue that if the price of any commodity changed - oil, iron
ore, nickel, etc the same would apply, however Fresnillo is essentially almost
a pure gold and silver play. A lot of major miners have a larger mix of
resources and being larger are less sensitive to commodity price changes.

For me it is presently being a successful day trading option as my costs are low,
although I need to give my system a few more months trial. I was caught with
my trousers down when the China problem occurred, but with profits I should
be able to weather the occasional "falling knife" loss.

I welcome you discussion and further thoughts you have on this plan, as I am
still searching for the perfect system and holy grail.

Mr Cynic - at this very moment FTSE is up 1.34% and gold is down 0.96% and silver
down 0.43% - I am presently short FRES and waiting to buy back to close at a
profit again. I do not need to make thousands, only a few hundred quid a day.

If FTSE holds around, up 1.50 %, then I anticipate FRES should drop back to some extent by the close from present 609, as also up without much justification.

Sold at 611.5p just bought back at 607p todays trade - pity I could have bought back back a bit cheaper but became impatient. 5000 shares Profit for today £219.66.

That will do for today, bit cloudy plus I have a cold so no swimming today
- Bob - Benidorm Spain

Sod - was finished for today but now sold, gone short again, 5000 at 618, as gold down silver up net effect nil, but FRES up about 3.5% and I do not know why. I neede to buy back at anything below about 617.50p

i have no magic ...... i'm just a plonker who sometimes gets it right :-)

I remain short 5000 sold at 618, will hold overnight and see what happens tomorrow.
Current buy price 622 so not too far off making a profit if there is a fall tomorrow.

Some good news came out after I went short, so shares generally soared for some reason. Pity we do not get news as soon as the guys in the City do.

As both gold and silver commodity prices came down, also FRES followed them down
towards the close from about 634p - thank god.

The commodity prices helped me make my judgement again.

quite surprised you aren't at all tempted by other quality miners such as RIO or BLT on the basis that hard commodities will always be required and the current share prices are shot to pieces

And Kaz great trading stock .

hardly quality though :-)

If it goes up and down and you can trade in and out it's quality in my book !

jimmy b
I think you could follow copper prices and trade KAZ - as it is volatile

cynic.
I think RIO and BLT are too big and may be less volatile ?
Both FRES and KAZ have share prices a fraction of what they used to be, also the price of gold and silver

There must be many more Co's one could trade with an eye on commodity prices
besides FRES and KAZ. I only get an guide / indication from the commodity price,
and still have to use a lot of judgement whether I think it will go up or down.
So if I can avoid news and production reports etc and as long as the Co is sound
I do not worry too much about the Co, as it is essentially a trading play not a long
term hold. I do OK and seem to make many more profits than losses at present.

Bought back 5000 FRES and closed at 617 so was lucky to buy back without a loss

Kirk i have had a few trades on Kaz .
Watch it carefully there is often a good 10 points either way .

Thanks jimmy b I will -
I used to trade Antofagasta, but I just stick to the one share at the moment.

News on USA jobs out at 1.30 pm today so the price of gold and probably silver will
move then, because jobs affects USA interest rate decision in the coming months.
So I will be watching FRES at that time to possibly go long or short with CFD's.

I have an account with IG index which I do not use much now, but it is useful to see
many commodity and currency prices moving. Copper is on it also for KAZ.
Can you see moving commodity prices if so how ?

I use IG Index for most prices .

Bought FRES on friday afternoon after US jobs figures, at 602.80p, and now hoping
for a recovery in gold and silver prices,