Griffin Mining Share Discussion Threads

[roman180389] 04/1/2018 12:35

Have been following this share with interest. Investment case is obviously compelling. Do we know what the current life of mine is without Mine 2 license extension?

[dreamtwister] 04/1/2018 12:10

i believe glencore are not bringing their zinc assets back to the market until zinc is in the circular of 6$ so acuere is on the money ! plus the pog will be of substance.

[bo doodak] 04/1/2018 12:03

Back in 2002 MN stated -

''the latest results are beginning to confirm my long-held belief that Caijiaying will primarily be a gold producing area with the substantial bonus of an attached large-scale zinc mine ''

I seem to recall that this would provide even more upside as we mined deeper. Any views on whether this is still the position, making the longer term future even brighter?

[acuere] 04/1/2018 11:21

Average 2017 pre smelting zinc prices in H1 $2690. In H2 they were $3098. In that 1st half the average after smelting price received by Gfm was $2082. These additional revenues should go straight to the bottom line.

Eps for first half was 8.85cents. If they match that it would suggest eps of 17.7 cents, which at today's exchange rate is equivalent to 13p.
Broker forecasts are for 12p and a share price target of 166p

Clearly H2 will far exceed H1. I'm pencilling in an Eps of 18p for 2017 which puts us currently on a p.e of 6.6 which would be ridiculously cheap. I've increased my share price target from 204p to 234p.

If the Mine II license should come through, and with zinc price forecasts still strong, you could near as damn double those figures.
All IMHO, please DYOR.

[malcolmmm] 04/1/2018 10:31

Garry1966 Oh right,looking good, thanks

[gary1966] 04/1/2018 10:17

Malcolmmm,

If we only have 11p eps this year I will feel cheated with 6.2p on the board at the halfway stage. As MT has very kindly updated us at various points the average zinc price has been a lot higher in the second half. Production is on an uptrend to and debt cleared during the year so lower interest costs. I would suggest we are on a 2017 historic P/E of around 8. Strip out the cash pile and even less. By the time results are announced in April, assuming similar timescales to last year, our cash pile would have grown considerably and I hope will facilitate a very generous dividend policy similar to CAML.

ATB and GLA

[malcolmmm] 04/1/2018 09:59

Still a lowly PE of 11 and as you say Zinc is still rising.

[banj] 04/1/2018 09:51

Getting ready to pop...Zinc breaking out

[callmebwana] 04/1/2018 09:11

O/T.
Owenga, perhaps you should look up XLM and TAP. I hold both. There is a very good trading update from TAP today. As always DYOR.
Apologies in advance re O/T.

[owenga] 04/1/2018 08:34

Ewads Thanks for your posts, that is very exciting. I won't be holding my breath, but perhaps we are finally getting close to getting the permit for zone 2.

[owenga] 04/1/2018 08:29

HarryPlease can you confirm what the other 2018 stockopedia naps are. Many thanks.

[harry6804] 04/1/2018 03:18

Confirmed... listed in Stockopedia 2018 NAPS.

[banj] 03/1/2018 23:00

Thanks xj and ewads ;)

[ewads] 03/1/2018 20:11

And more..- translation a bit rough!!

Project Location: Zhangbei County, Hebei Province on the 3rd Caiying Camp Village South

Area: 2.051 square kilometers

Mining main mineral: zinc mine

Resource reserves: 15,343,900 tons of zinc ore, grade 3.95%; associated lead 92685.98 tons, grade 0.60%; associated silver 427.60 tons, grade 27.9 g / ton; associated gold 5.64 tons, grade 0.37 g / ton.

Agreement to sell Application reason: Caijiaying Lead-Zinc Mine Ⅱ ore agreement to sell, in line with the "Ministry of Land and Resources on the strict control and regulate the transfer of mining rights agreement related issues notice" (State Land and Resources [2015] No. 3) First, (a ) 4 provisions. The reasons for not bidding, auction and listing are as follows: (1) The range of the agreement, "Caigaoying Lead-Zinc Mine Ⅱ Mining Belt", is located in the scope of Exploration of Caijiaying Lead-Zinc Silver Mine in Zhangbei County, Hebei Province, which is Hebei Hua'ao Mining Development Co., Ltd. The prospecting price has been disposed of, follow-up surveys are self-financing Huahua investment, did not find the central government, local financial capital investment. In 2013, when the acquisition of the exploration rights continued, Huayao Company mistakenly deducted the Cairngai Lead-Zinc Mine Ⅱ ore belt from the prospecting right, resulting in the formation of the main ore-producing area. In order to correct this problem, Hua'ao Company promised to supplement the same area with the prospecting right of "Caijiaying Lead-Zinc Exploration in Zhangbei County, Hebei Province" after the Ministry of Land and Resources approved the agreement to sell the Cazhai Mine Lead-Zinc Mine Ⅱ ore zone. (II) Despite the loss of mineral exploration rights in Ⅱ ore district, Hua'ao Company, however, the prospecting report of Ⅱ ore belt, "Zinc Exploration Report of Caijiaying Lead-zinc Zinc Mine in Zhangbei County, Hebei Province" was filed by Huacao Company and has been actively exploring Transfer procedures. (Ⅲ) The Ⅱ ore belt belongs to the same ore deposit as the Ⅲ ore belt of the existing mining right (Caijiaying Zinc Mine of Hebei Huacao Mining Development Co., Ltd.), which can utilize the original exploration system of Ⅲ ore belt for mining or the existing ore dressing Field beneficiation. (IV) Ⅱ Mining Belt Surrounded by the exploration rights of Hua'ao Company in the scope of "Exploration of Caijiaying in Zhangbei County, Hebei Province". (V) Huayao Company obtained the "Registration Certificate of Mineral Resources Reserves" issued by Ministry of Land and Resources on March 26, 2013. Eligible application category Application agreement Assignment conditions.

[ewads] 03/1/2018 20:08

Thanks xjhoward - good find - as it's 6weeks old, maybe a lot of 'expansion' is priced in :-

Caijiaying lead-zinc mine expansion "Dongfeng" to double the production or just around the corner

hxxp://china.chemnet.com/ 2017-11-14 11:56:51 Southern Reserve Business Network

November 3, Hebei Province Department of Land and Resources website announcement shows that it intends to Hebei Huacao Mining Development Co., Ltd. agreed to sell Caijiaying Lead-Zinc Mining Area Ⅱ mining rights, the formula until 2017 November 17 only. This also marks the company's 750,000 tons / year to 1.5 million tons / year expansion project the last obstacle will eventually be destroyed, the expected future output growth just around the corner.

Hebei Hua'ao Mining Development Co., Ltd. is a Sino-foreign cooperative mining enterprise established in 1994 by Griffing Corporation listed in London and the relevant departments in China. March 21, 2002, the company obtained 200,000 tons / year mining permit. In May 2004, Caijiaying lead-zinc mine began construction of plant selection, put into operation in 2005, a production scale of 250,000 tons of annual output of ore. In September 2007, the Company successfully completed the project of 500,000 tons of technology expansion and expansion to form two circuits of lead selection and zinc selection. The lead selection circuit effectively recovered the precious metal gold and silver associated with the ore, which was completed and put into operation After another milestone. In 2011, the company completed its second expansion and achieved a mining capacity of 750,000 tons, becoming a lead-zinc mine with a certain scale in China. On April 8, 2014, a 1.5-megawatt expansion of the Caijiaying lead-zinc mine started its construction. This means that the Company's mining output will once again double up and has a milestone in the company's operating history.

Since its initial operation, the company has great expectations for prospecting potential and resource continuation capacity of Ⅱ ore belt. In the latter part of the year, a great deal of energy has been devoted to the exploration of resources and the maintenance of mineral rights. The result of the prospecting is very gratifying. The 2011 JORC report confirms the substantial growth of mineral resources and provides a good foundation for further expansion of the company. The expansion project of 750,000 tons / year to 1.5 million tons / year has been put on the agenda. Among them, mining rights have become a precondition for the smooth implementation of expansion, and the application work has also started. Initially, the company expects to complete various preparatory work for mining rights application, feasibility study and environmental impact assessment in 2014. Affected by multiple factors such as policies, the application for mining rights has been repeatedly blocked, and the process of expansion has also lagged behind. In 2016, the newly-added beneficiation capacity will be completed and put into operation first, but it will not be able to supply sufficient raw materials due to the delay in the expansion of mining capacity. The expansion project is "everything is ready and only owes the east wind." Now after several years of hard work by the company, mining rights of mining belt Ⅱ has finally entered the publicity stage, and no unexpected mining rights are expected to be approved smoothly and smoothly soon. Taking into account the company has a mature mining system, in recent years to expand production has been very adequate preparation, it is learned that the recent company is also actively promoting personnel, equipment and other aspects of expansion preparations for the production is expected to eventually grant After the output increase will be reflected soon. (Contributed by: Ma Zhiwei)

Project Name: Caijiaying Lead-Zinc Mine Ⅱ ore belt

[xjhoward] 03/1/2018 19:24

An interesting report from a Chinese website. Use Google Translate to read it:Caijiaying lead-zinc mine expansion to double the production is just around the cornerhttp://news.chemnet.com/detail-2554706.html

[up just a little bit] 03/1/2018 17:52

152500 and 128880 trades showing the 152 from yesterday so there are some buyers out there with some good amounts of cash coming on board.

[gbh2] 03/1/2018 08:44

It's to be hopes the volume picks up, interest is poor atm.

[gary1966] 03/1/2018 08:39

Zinc had another strong day yesterday to create new 52 week high.

[wirralowl] 02/1/2018 16:10

Unsurprisingly given is its rating, a pick in Stockopedia's 2018 NAPS list out today...

[up just a little bit] 02/1/2018 10:48

To spend £257000 is a vote of confidence in GFM

[up just a little bit] 02/1/2018 10:08

I see the late reported trades of 220000 and a few others from last week explains the sells we had with no drop in the price

[phillis] 02/1/2018 10:03

good start to the New Year

[up just a little bit] 29/12/2017 17:43

I think we will see a dividend and that will spur the price on to about £1.50 but as far as the license is concerned I don't see it happening