Griffin Mining Share Discussion Threads

[the juggler] 17/1/2018 09:15

What has happened here? Price tanking this morning.

[owenga] 17/1/2018 08:02

Hopefully we will get a trading update tomorrow!

[makinbuks] 16/1/2018 17:42

Gary1966, yes your research is better than my memory and I take your point on the mine life extension too

[ukgeorge] 16/1/2018 17:34

Could you please see how stockopedia rate Petra Diamonds PDL? Sorry for off topic.

Hopefully just consolidating here before the next up leg

[crazycoops] 16/1/2018 17:18

I have been a Stockopedia subscriber for several years and never knew about the "rule of thumb" valuation feature. Where do you locate it?

[malcolmmm] 16/1/2018 16:38

Yep left off the 100p ,145p/150p, was thinking I was on the AAZ board LOL
Rule Of Thunb' is one of Stockopedia's valuation tools which values GFM at around 208p

[phillis] 16/1/2018 15:46

Thanks
Had forgotten that

[rose_by_another_name] 16/1/2018 14:51

Wasn't that when a fund was divesting? Not so much a
buy-back as a bailout. If you read the company RNS's
you get a rosy take on things. The Spitfire Oil stake looked
a lot like a rescue of a company in which two Griffin directors
were involved. To call it an oil explorer is a stretch- at the time
of the buy it was trying to turn dirty coal from a lignite mine
into oil, a process that doesn't seem to have panned out.

[phillis] 16/1/2018 14:11

Gary
Remind me when the large buyin took place please

[up just a little bit] 16/1/2018 13:50

Gary, Whilst you are correct there could have been a balance between the BOD's wishes and a few crumbs for the share holders along the way. The facts speak for themselves.

[gary1966] 16/1/2018 13:42

Makinbuks,

They bought and cancelled just over 60m shares in one transaction which was around 25% of the share capital. I wouldn't class that as small.

You seem to be confirming that I haven't missed anything which I am grateful for. With the benefit of hindsight I guess we can all make perfect decisions. So still mystified as to why there is so much angst towards the directors.

[makinbuks] 16/1/2018 13:21

Gary1966, the shareholders cash has been spent in the past on a) buying out the local partner (questionable timing and price) and b) uprating the production (questionable timing re the licence). Prior to that there was the search for acquisitions which resulted in the ill fated Spitfire Oil stake and at least one aborted Canadian deal. The dividends and share buybacks have been pityfully small. The BOD have certainly not seen tangible returns to shareholders as the way forward. Lets hope they do now

[callmebwana] 16/1/2018 10:41

LOL,MALCOLM.
Have you been on the snake oil? Guys what he means is the share price should be around £208.59. Or above. Time will tell.
GLA.

[grale22] 16/1/2018 09:38

It's already at 130... how can it rise to 45/50p? You must mean 145/150 right?

[malcolmmm] 16/1/2018 09:36

I meant a rise to 45/50p short term but who knows, just my thoughts going on Stockopdia's research and ranking of 99.

[rose_by_another_name] 16/1/2018 08:52

Do you mean rise by 40/45p or
rise to 140/145p?

[malcolmmm] 16/1/2018 00:00

With a Stockopedia rank of 99 and a 'Rule Of Thumb' share price of 208.59p and Zinc in short supply, I think GFM will rise to 40p/45p in the short term.

[up just a little bit] 15/1/2018 15:02

Zinc @ 3427. Very nice indeed.

[mad foetus] 15/1/2018 14:44

Zinc moving up nicely today

[mad foetus] 15/1/2018 13:15

Chartwise this looks primed for a quick move imo

[dreamtwister] 15/1/2018 11:01

thinks ! the miners should get a pay rise or a bonus for their hard work ! yes a few more cows would go in gfm favour for the mine extension !

[ewads] 15/1/2018 10:25

Agree with Gary - Directors are certainly no worse than many others and have run the plant diligently and well. You can't really blame them for plant downtime due to upgrading/deaths/demand falloff. Their dabble with Spitfire Oil did leave me bemused and I thought it might be some tax vehicle that might impinge on GFM's results, but does not appear to be case.
The share price does seem to solely follow a 'good' zinc price and steady production which seems to be in place.
If world production is likely to remain at current levels for some time then s/holders should see a good return with the bonus of a dividend. Looks to me like the directors choose the correct pathway some years ago?
My problem after 14ish years investing here (ave 62p) is when to stop. How much value will there be left after most of the known fundamentals reach the max? My target at moment is £1.60 to £2.