Share Name Share Symbol Market Type Share ISIN Share Description
Griffin Mining LSE:GFM London Ordinary Share BMG319201049 ORD $0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.00p +0.87% 115.50p 113.00p 118.00p - - - 0 07:31:31
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 93.8 45.1 18.2 6.0 199.25

Griffin Mining Share Discussion Threads

Showing 29401 to 29424 of 29425 messages
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DateSubjectAuthorDiscuss
19/8/2018
20:39
Slops I believe there was tax held over by local agreement at the end of 17 Hence ( in part) the high creditor balance and the large tax outflow in first half 18
phillis
19/8/2018
19:44
In the six months to 30(th) June 2018, 448,530 tonnes of ore were processed to produce: -- 16,873 tonnes of zinc; -- 459 tonnes of lead; -- 132,689 ounces of silver; and -- 9,492 ounces of gold. In the six months to 30(th) June 2017, 461,618 (2016: 365,337) tonnes of ore were processed to produce: -- 19,553 tonnes of zinc (2016: 13,420 tonnes); -- 719 tonnes of lead (2016: 705 tonnes); -- 168,426 ounces of silver (2016: 120,953 ounces); and -- 9,372 ounces of gold (2016: 3,553 ounces). Processing less ore than last 6 months didn't help. Notice the lack of 2017 comparrision in the 2018 interim. Also they seem to have a large tax bill more than the whole of last year. 2018 6m 2017 6m 2017 Taxation paid (12,275) (5,932) (8,108) Doesn't help cash flow. They do have a healthy balance sheet no debt cash in the bank though.
slopsjon2
19/8/2018
18:40
Sage, if I may say so, you are ignoring a few points. 1 No explanation worthy of the name for the poor half yearly figures. It was NOT the decline in the price of Zinc. 2 Free cash flow for the 6 months was approx 1m, can’t remember if that was dollars or pounds. 3 The second half will be “challenging” That coming from our normally ebullient Nickof is concerning. 4 The above have led to a lack of confidence in the board which has not been particularly high in the past. 5 I don’t think an Institutional investor would touch the shares at present. Sure, it is a play on zinc but now a much more speculative one.
gailes5
19/8/2018
17:40
The share options are absolutely awful and quite frankly they only get away with it because they are in Bermuda.
up just a little bit
19/8/2018
17:38
Sageman, Just when you think you are turning a corner you revert to type. What you state is YOUR opinion there are many many share holders who may not agree with you.
up just a little bit
19/8/2018
17:35
Sageman, Look after the pennies and the £'s take care of themselves.
up just a little bit
19/8/2018
14:37
My focus is on the poor performance and the BODs responsibility to keep shareholders up to speed Oh ! And preferably not award NON Execs huge share options
phillis
19/8/2018
14:28
Phillis, for some one who has been around this share a while you ask questions without necessarily thinking about why there are no answers. We are playing Chinese patience and sometimes keeping your cards close to your chest makes sense. Production was very similar in the first half to the corresponding period last year. Zinc output was down due to lower grade. But costs were higher. What costs?! As long as the expansion happens I am happy to let the BOD get on with it. Also you call me grandma as if I am teaching you to suck eggs. All I would say is that if you did know you would realise that most of your comments seem to focus on things that are 5% relevant to the Sp. In fact if zinc today was 1.70 the Sp would be £2 as everyone on this board knows due to forward P/E ratios etc.
sageman
19/8/2018
12:24
Funnily enough grandma I know exactly what transpired in 2006 But I was v surprised recently when profits did not improve over prior year's first half despite an average zinc price 20% higher Nasty surprise in fact - and the BOD made no mention of it
phillis
19/8/2018
12:14
The decision to buy out the junior partner may have been a mistake at any price. They accepted assurances on the Zone II licence which hasn't come through years later. Why? Perhaps because there is now very little Chinese skin in the game, as a direct result of the buy-out. Our increased share in the profits has been pretty useless until recently because of the not-in-our-control zinc price. I expect that to recover from the latest dip, but who knows? We paid a lot for a bigger share of a smaller pot, on a promise in which the Chinese have lost interest.
rose_by_another_name
19/8/2018
12:00
Of course the price of zinc is a major factor for Griffin, and of course the board have no control over that. So let's look at what they had control over. When they were flush with cash, they said they were going to use it to acquire other mining projects. They tried for a couple and failed, so they bought out the junior partner in the mine they had. That would have been OK, but they overpaid, and didn't get all of what they paid for (the zone II licence). While waiting for that to come through, they doubled the plant capacity in anticipation, money which has basically languished unused since. We still can't actually mine zone II, despite a fresh promise on the licence. And yes, while the world turns away from coal for environmental reasons, we bought a lignite mine, the dirtiest form of coal. The variable price of zinc does not excuse the board for their performance. It's like a farmer blaming the weather when he didn't plant a crop.
rose_by_another_name
19/8/2018
11:43
Forgot to mention mine accident in last post.
sageman
19/8/2018
11:26
If the 2nd license is given fully, and the expansion is implemented, I guess we should see an increase in share price in line with increased production, still referencing the zinc price. The problem with Griffin, as I've found out, is that the discount is warranted. Chinese mine plus a poorly communicating BOD.I'm okay with that though, as there are some potential positive catalysts: 2nd license or divi payment would set this going. There's also the case for zinc, if you're bullish there
cflather2000
19/8/2018
10:47
Phill , in July 2006 zinc was over $3000 per tonne and subsequently went on to be over $4000. By October 2008 it was $1100. The Sp followed suit and everything else was mainly irrelevant. Nothing changes. DYOR watch zinc warehouse stock and watch zinc prices. In the years that followed the license has been massively extended, the ownership increased, production increased. Dilution kept to a minimum . All positives for BOD - negative was Spitfire ( just for balance).
sageman
18/8/2018
13:17
My post 1036 in July 06 "The Board are on record as saying they will use the share buyback facility to discomfort shorters. Bring it on!" Happy days
phillis
17/8/2018
22:05
Hi Mike, sorry for the confusion. I started with 10,000 shares in 2006 and built it over time by trading. It is what I called my core. Last year as zinc started to move I began to build a trading pot. I got caught out by the debt free post in December such that the buy in cost of that pot had a B/e of £1.09. It is solely this pot that I have progressively disposed of. It has not been fun watching paper profits reduce but main core is at 30p so happy to hold. GLA
sageman
17/8/2018
19:35
Even I have marked up Sage
up just a little bit
17/8/2018
19:28
sage: you've "halved my holding', yet "Still holding main core". This is confusing. I understand you hold "main" and "secondary" cores. To which are you referring in post 28609? Excuse my ignorance...
mikesnr1
17/8/2018
18:42
And I thought it was going to be a goldmine! ☹️
phillis
17/8/2018
18:15
Thank you sageman for you post 28609. Its the first I have seen without a jibe at another poster. I have marked it up.
mariopeter
17/8/2018
16:31
If only the correlation was on a daily basis! Happy to see the Sp rise, also happy to have halved my holding. Suggest people print off GFM share price over the last 10 years. Then print off the Long term infomine zinc price. If you can’t spot the correlation book in to specsavers! You need to allow for sentiment and for forward expectation. Still holding main core. Very happy with the company long term. Would love to see zinc rise in the meantime I have continued fears that Sp will fall below £1 but hope NAV will provide a bottom.
sageman
17/8/2018
16:03
must be sm buying on the dips
rmjones
17/8/2018
15:40
surely not!
phillis
17/8/2018
13:08
The zinc price is still down, and a little more down today, and yet Griffin's SP rises. Must confuse anyone buying the dips. Did they miss that one?
rose_by_another_name
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