Griffin Mining Share Discussion Threads

[polaris] 05/4/2018 16:25

Any guesses for when the results will be released? I was thinking today but then saw 2016 results were mid-April and nothing was released this morning...

[gary1966] 04/4/2018 19:51

A healthy dividend and a commitment based on % of earnings/FCF would do more for the share price, and as a consequence our directors pockets, than anything else.

[polaris] 04/4/2018 13:03

TBH i would like to see the company move its incorporation out of Bermuda. The fact that the company falls under their law and not the UK means that shareholder rights are different and there is no requirement for large shareholder notifications. While i am very positive for the results, the number of options granted to the company board are very significant, well above 10% of the current capitalisation. I would like to see corporate governance tightened up over the coming 12-18 months, not that i expect it will be. I also severely doubt a dividend will be declared. Why would they? They might go for a share buyback, as that increases the notional value of their options.

[phillis] 04/4/2018 12:17

What foreign dividend tax would that be?

[makinbuks] 04/4/2018 11:26

I don't think they'll declare a dividend anywhere near 10p or 70% of FCF. They might declare a nominal 1p or 1.5p as a gesture to minor shareholders. The BOD will want to keep the cash inside the company and rely on making capital gains from their current holdings and options. Foreign dividend tax is far harder to avoid than capital gains.

[gbh2] 04/4/2018 10:40

Back in at this morning, before the share price dipped naturally ;(

[phillis] 03/4/2018 11:19

depends if/where free cash has been remitted
May not be much by way of distributable reserves in UK plc

[ukgeorge] 03/4/2018 11:04

A 10p dividend or promise of a good policy would be nice. Say 70% of FCF....

[phillis] 03/4/2018 10:53

Given the cash generation I just hope we get a full distribution rather than a huge buyback programme which benefits management(and Non- Exec!)options

[mikesnr2] 03/4/2018 01:22

I've been looking at a fundamental analysis of GFM by Simply Wall St.
They calculate an intrinsic value of £2.43 per share at 30th March 2018; arrived at by discounting future cash flows to their present value, using analysts' estimates of cash flow going forward 5 years.

In other words, SWS say GfM is undervalued by around 49%.

[crooky1967] 29/3/2018 10:08

Zinc up again today, back up to the $3300 level. Be good to stay there until the end of the year. Will hopefully make H1 2018 results pretty decent.

Looking forward to 2017 results, hopefully not on Friday the 13th.

[malcolmmm] 28/3/2018 15:59

Zinc is doing very well, lots of sells here today though but the price is holding up. Bring on the prelims, may buy more in a few days

[phillis] 27/3/2018 14:47

first full week after Easter my guess

[busterdog2] 27/3/2018 13:17

Prelims were on Thursday 6th April last year, so maybe a week on Thursday/Friday this year? Should be anything but boring.

[mad foetus] 27/3/2018 12:17

I think we are all bored waiting for zone 2, but the company is doing the business on zone 1 and can only control that.

[dreamtwister] 27/3/2018 12:14

bored with the never ending story,sell lock stock and both barrels

[phillis] 27/3/2018 11:58

from the last RNS

" "I am delighted that the Griffin Mining group of companies are now totally debt free and generating significant free cash, with infrastructure built and ready to double production as soon as the new mining licence over Zone II is granted."
Since that announcement dater the price has stayed higher


Licence approval would be nice wouldnt it?

[dreamtwister] 25/3/2018 14:17

base metals are certainly the commodity to be in due to the shortfall in the green revolution, plus trump trade war has hiked prices as gold is underpinning the currency market,if & when zone11 is awarded should add substance to the share price

[owenga] 25/3/2018 11:33

Not if they put it into their isa on 6 april

[ewads] 25/3/2018 10:34

Your first post after 10 years and you want to know when to sell?

[stilllearningafterallthistime] 25/3/2018 09:18

Please could someone give me an update on the future success of griffin mining
I’ve been holding stock at 83p for around 10 years
Is it time to get out ?

[busterdog2] 25/3/2018 08:43

Many thanks for sharing that.

[owenga] 24/3/2018 17:55

Griffin Mining

here are my numbers. It shows my first half estimate against first half actuals, then 2nd half estimate and full year estimate using first half actuals. My first half estimate was very close to actuals...

2017
1st half 2017 2nd half 2017 Full year
Estimate Actual Estimate Estimate
revenues 54,130 52,333 63,818 116,151

cost of sales (20,000) (20,820) (21,000) (41,820)

Gross Profit 34,130 31,513 42,818 74,331

Admin expenses (8,000) (8,061) (8,000) (16,061)
0
Profit from operations 26,130 23,452 34,818 58,270

Other costs (29) 2 0 2
Finance costs (1,600) (1,401) (600) (2,001)
0
PBT 24,501 22,053 34,218 56,271


Ore mined 500,000 486,000 500,000 986,000

tonnes/oz sold
Zinc 20,000 19,336 21,000 40,336
Lead 700 705 700 1,405
Silver 190,000 168,426 175,000 343,426
Gold 8,000 9,372 9,500 18,872

Price
Zinc 2,185 2,082 2,482
Lead 1,800 1,780 1,800
Silver 13 14 14
Gold 1,150 1,160 1,150

Revenues
Zinc 43,700 40,259 52,122 92,381
Lead 1,260 1,255 1,260 2,515
Silver 2,470 2,358 2,450 4,808
Gold 9,200 10,872 10,925 21,797

56,630 54,743 66,757 121,500
Royalties and resource taxes (2,500) (2,410) (2,939) (5,349)
Net revenues 54,130 52,333 63,818 116,151

[owenga] 24/3/2018 17:42

I am expecting $56m pbt for 2017, $40m post tax, which equates to 22.3 cents post tax earnings per share. That works out at 16p per share, so P/E ratio of 7.5.For 2018 and at current zinc prices I'm expecting 70m pbt, $50m post tax which equates to 28 cents, 20p per share, so forward P/E ratio of 6. And that is before the zone 2 licence, if it ever materialises, which is supposed to enable production to double.