Short term view - FRESNILLO PLC : Measuring gap
Our previous opinion was neutral.We turn negative with a target at 1246 p and an invalidation level at 1366 p.
The bearish trend unfolds.
Arguments :
- The measuring gap, opened in the middle of the fall, reinforces the bearish trend.
Fresnillo is a holding company, engaged in the mining and beneficiation of non-ferrous minerals, and the sale of related production. At Dec 31 2016, Co. had six reportable operating segments: the Fresnillo mine, an underground silver mine; the Saucito mine, an underground silver mine; the CiA(c)nega mine, an underground gold mine; including the San RamA3n satellite mine; the Herradura mine, a surface gold mine; the Soledad-Dipolos mine, a surface gold mine; and the Noche Buena mine, a surface gold mine. In addition, Co. has two development projects, which comprised of: Pyrites Plant, a Leaching plant; and San Julian (phase II), an underground mine, flotation plant and a dynamic leaching plant.
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