RE:prouditalian an FR bull and silver bugs vs sma 10 the first chart link below is far more important than any opinion any fundamentals any pm's expert calls or any KWN audio as the FACT is these outlooks have been very wrong for years!
gold,silver, are going to need $yen to strengthen into year end 100+ and the US Ten year to fall below 14.00 as these are the drivers of golds trend with the periodic influence of war between the US and N.K.
the second chart shows FR in the last 6 years has fallen into the end of Q4 since the 2011 highs, FR trades in 3 layers and its currently trading in the lower layer of price value = Fact no BS = Reality
so if by year end $yen is 100+ gold will be trading above $1300 and maybe silver will catch up and be $20+ or $yen will be sub 85 and gold will be sub $1200 silver sub $16.....FR will increase in value with a stronger silver price but not in the same leveraged manner it has enjoyed in the past years as K.N. said:
Our focus in the second half of 2017 remains to be the construction of the new roaster system at our La Encantada mine which is on schedule for commissioning in the first quarter of 2018 as well as the renewed investments in underground development which has been lacking over the past few years. This increase in underground development, which started in mid-2016, will have a direct impact on improving production, however, the positive impacts of these types of investments are generally delayed by 12 to 24 months.”
****AISC in Q1 were $12.21 now its $14.58 and total production cost per ton was $44.72 now its $51.53
what happens if the Trump Mexican wall never takes place or NAFT negotiations fail and are delayed into late 2018 the Peso could continue to strengthen adding more losses to FR revenues as K.N. stated a stronger peso is negative for operations
https://ca.finance.yahoo.com/news/first-majestic-reports-second-quarter-222134203.html
so with higher costs and a delayed time frame to see the real benifits being 12-24 months out FR will need a lot higher silver pricing to help join its peers again as the best leveraged silver miner, imo, and obviously the share value falling 60+% this last year and after the Q results falling a further 20% the streets opinion is the same or FR would have popped 20% off the street seeing the Q report as a positive, this isn't mom & pop selling its the sector players the ones who can and do move the chart trends
since the Q report FR is stuck in a trading range between $8.63 - $7.51
Good Luck to FR management, prey for a stronger $yen and a weaker peso and of course much higher silver prices!
https://tinyurl.com/yae9sm8k
https://tinyurl.com/yadnre8g