Griffin Mining Share Discussion Threads

[mariopeter] 30/3/2016 14:15

Would agree with you sleveen except nearly $70M of the of the current liabilities are the revolving bank debt facility.... like an overdraft. These credit facilities are provided by 3 banks and could be put on a longer term footing should trading not perform as expected. Given that most of the current assets are cash that also gives me vast comfort on working capital liquidity.

In the final results I am hoping for a surprise on the upside as the interims were not that bad and reflected higher throughput.... even without the planning permission which Mr Market is obviously grumpy about.

ILZSG showed December 2015 world use of zinc again exceeded production for the third month on the trot. Still positive here.

Holding but not adding until clarity received on results day.

[celeritas] 30/3/2016 13:33

3 year wait, it's now critical.

[sleveen] 30/3/2016 13:32

$98m current liabilities v $44.4m current assets....placing cometh is the reason for the fall IMHO.

[alan@bj] 30/3/2016 13:15

Odd though that Dal Brynelsen (non-executive director) purchased a further 30,000 ordinary shares in Griffin at a price of 25.0 pence per share only 6 weeks ago. I'd have thought he would have more idea than we have what's happening?

[up just a little bit] 30/3/2016 13:05

Looks like some bad news expected with all the sells the price is the lowest I've seen.
The BOD should be over in China chasing the licence and should not come back until they have it signed off.
If they don't get it they should stand down.

[jaspoland] 22/3/2016 10:14

RBAN, Agreed. Results in a few weeks will likely be poor but I don't expect much downside from here IMHO

[rose_by_another_name] 22/3/2016 10:00

Triple bottom?

[jaspoland] 21/3/2016 12:53

Had a nibble here this morning for the first time in a few years.. Zinc at a 6 month high and inventories falling. I normally time my purchases well in GFM. Time will tell

[up just a little bit] 18/3/2016 12:27

In his back garden by the sound of things.

[mariopeter] 18/3/2016 08:32

Is the horse in China or Ch.....eltenham?

[up just a little bit] 17/3/2016 17:30

No need for the sarcasm

[phillis] 17/3/2016 16:15

The horse's mouth

Year end?

you know, that which takes place every year at this time....

[up just a little bit] 17/3/2016 13:16

Phillis, Who told you that RG was in China and what did they say he was doing?

[phillis] 16/3/2016 18:10

from a telephone answering service?

[ukgeorge] 16/3/2016 17:29

Matt thank you for the update much appreciated.

[up just a little bit] 16/3/2016 16:28

Phillis, In China on business?

[matt778] 16/3/2016 16:18

I rang the london office

[phillis] 16/3/2016 15:14

matt

RG is in China
They only have a receptionist there

[rmjones] 16/3/2016 13:52

Well even without the license and at current throughput I would suggest that GFM has been over-sold.

[matt778] 16/3/2016 13:43

just contacted griffin office and the woman I spoke to said she couldnt give any info out at all and that rodger goodwin would be in the office next week, asked about zone 3 license all she could say was that 'china is a very very difficult place to do business' she wouldnt be drawn on anything and sounded very pessimistic. I think its time to reduce my holding

[ukgeorge] 14/3/2016 16:49

Has anyone had any contact with IR, or seen a recent presentation?

[rmjones] 14/3/2016 16:09

Hopefully the "high ranking Chinese" won't keep their heads in the sand for another 3 years. Note that the "Minister of Land and Resources" Jiang Daming is still incumbent even though he was the subject of corruption charges two years ago. Maybe he convinced his superiors that he was a good boy really!

[phillis] 14/3/2016 15:53

you may have noticed the press comment but lots of high ranking Chinese are keeping their heads down these days and doing nothing that might be open to misinterpretation
there is little need for conspiracy theories

[celeritas] 11/3/2016 16:46

The licence is the reason no one seems to be buying and the share price is down here.
Conspiracy theories will appear the longer this goes on.
Like I said before how the hell is someone being killed at the mine dealt with faster than what is really only an extension to keep doing what you have been doing.
Maybe a few more cows might see the 3 year wait ended.

All you need are a few shady people in high places to stop gfm ever getting the licence. All that cost of upgrading the mine, time spent developing it for what.

[phillis] 11/3/2016 16:38

?
plenty of mining to do in Zone3