Griffin Mining Share Discussion Threads

[rose_by_another_name] 24/4/2017 08:41

Back when the company was sitting on a big
pot of money, the argument was that it was
to be used for an acquisition, to add value
to the company, rather than pay a dividend.
Several prospects fell through, and eventually
they used it, plus debt, to buy out the
junior partner. The licence we are waiting on
was supposed to come as part of that deal.

I think the capital position is worse now than
then, and without the junior partner's interest,
there seems to be no hurry over the licence.

Many companies manage to pay down their debt on
a scheduled basis while simultaneously rewarding
shareholders, especially now, when interest rates
are low. Perceptions would be altered.

[mariopeter] 24/4/2017 08:26

Head and shoulder on zinc price nearly fulfilled. Strong holders left here as GFM price resistant. Yes we need that license to light up performance....

[poleaxe] 23/4/2017 20:50

So three years at the current rate of profit, that is if they do not run out of ore before the licence is forth coming.

[up just a little bit] 23/4/2017 10:39

Approximately 44 million

[bubloo] 22/4/2017 07:58

how much is the bank debt now

[rmjones] 21/4/2017 17:38

I would expect to see dividends paid when the bank debt is settled.

[rose_by_another_name] 21/4/2017 17:28

It is all very well that the company stands to make
more money and that the resources it controls are
more valuable, but it means nothing to prospective
shareholders if they think that none of that money
will ever be distributed to them. If the mine is run
forever for the benefit of directors and staff until
it is played out, why own it?

Do the people now sitting on a capital gain think it
is time to buy this stock (that is me, by the way)?
They are planning to sell at a gain, but to who? The
reason why the stock price is stalled at this level
is the prospect of a return to investors is still
jam tomorrow, as it has been for years. This is no
longer a start-up.

I have been in this long enough to have received a
dividend in the brief period one was paid. The only
money I have made here since was by selling out. After
my last sale I have not bought back in. I am holding
my remaining shares for two reasons- I expect them to
go higher, probably, on the coming scarcity of zinc,
and I don't want to take the capital gains tax hit all
at once. The last time zinc was tight, I made the mistake
of buying more shares at 95 pence. I won't be doing that
this time.

[up just a little bit] 21/4/2017 07:53

Also the zinc stocks are still dwindling slowly which is nice to see

[phillis] 20/4/2017 23:09

Note that the AVERAGE price achieved for zinc was $ 1502 in 2016
Q1 average over $2000
Do the sums!

[up just a little bit] 20/4/2017 11:21

rmJones, I am an advocate of paying down the debt and I fully expect to get my initial investment back in the next couple of years but I prefer a management team to have a balanced approach rather than one of lining their own pockets.

[rmjones] 20/4/2017 10:47

UJLALB: Whether I agree or disagreed with remunerations is not relevant or interesting - I simply believe they have had no impact on the share price. However, I agree that lack of dividends has impacted the share price although personally, I have no issue with reducing the bank debt in lieu of them.

[roddiemac2] 20/4/2017 10:34

Rose ,

I think that is a fair assessment.

My average buying price between 2010 and 2012 is 38.7p. I sold a fair percentage following recent results .Whilst I concede that GFM may do very well in future ,they are high risk and , to date , unexciting.I added heavily to my largest holding, FSJ, over the same period I bought GFM; to date these are up over 300%: a big gain for a lot less risk . The moral is why take big risks?

[alan@bj] 20/4/2017 10:28

roddiemac2 - post 26285 - "A poor investment over recent years: best avoided."

The share price 5 years ago was 41.625p. Numerous problems (mine suspensions, buying out the Chinese and taking on debt, the drop in commodity prices, etc..) and the price dropped to 27.25p in April 2013, 31p in April 2014, 29.75p in April 2015, 26.87p in April 2016, and 56p today.

So, anyone buying in during "recent years" would have made a profit. I wish I'd sold out when the shares went over £1, but it can hardly be called a poor investment "over recent years". It's been a pretty good one for those willing to continue to hold, or to add during the drops.

We will all have some losers; that's just how it is. Warren Buffet lost $444m on Tesco.

[rose_by_another_name] 20/4/2017 10:02

I think that both the high cost of management
and the lack of dividend affect the share price.
The only "return" available is when you sell for
a capital gain. We need a return for those who
hold shares if new buyers are to be attracted.
Otherwise it is only "greater fools" that will
take your non-performing shares off your hands.

[up just a little bit] 20/4/2017 09:58

So you agree with the payments to the company run by one of the BOD'S wifes?

[rmjones] 20/4/2017 08:43

The directors remuneration argument is a personal chip on the shoulder and not relative to the share price. I also have been a holder for many years but am in profit because I diluted my overall buying price when at the 25-35p range.

[up just a little bit] 20/4/2017 08:18

And I've been a holder for a little longer than that from 93p. So given the renumeration package for the board and one of the wife's I deem them to be using the company as a private bank with total disregard for the share holders.

[alan@bj] 20/4/2017 06:35

I've been a holder since 2005. Is that long enough for you?

[roddiemac2] 19/4/2017 22:15

alan@bj,

There have been a number of opportunities for short term traders to do well in the last five years , but long term investors have not made much here.I am well aware that the share price has doubled from its low of last year : so what? The shares have only recently gone above where they were five years ago: a continual jam tomorrow story. There are much better investments elsewhere.

[alan@bj] 19/4/2017 14:44

I don't think my 44% return is too bad an investment.

[rose_by_another_name] 18/4/2017 16:22

Both the zinc price and the stocking levels
dropping. How long can that last?

[ewads] 07/4/2017 14:00

2017-04-07 13:58:35 56.75 1,365,000 Buy 56.00 57.00
That was a biggish buy/sell..................