Griffin Mining Share Discussion Threads

[kenmitch] 10/4/2018 20:34

Fair points owenga. The only problem is that they have been confident about getting the licence for SO long. They were confident by end of 2017. And can’t see why they can’t give at least an indication why it is taking so long as they can do that without giving info they would rather not. Ditto re Outlook statement. Very few Companies fail to do that and I can’t see any reason why GFM don’t, and the more so if, as is likely, they are confident about prospects. Those hoping for further short term share price gains would be far more likely to see that with a positive Outlook update.

[phillis] 10/4/2018 20:17

Assuming all other things remain equal what is wrong with second half eps X 2
Say between 28-30 cents - 7P/E

[owenga] 10/4/2018 19:10

Agree with you on most points, but disagree with last point. It would be even more frustrating waiting all this time to get the licence and then once receiving it start planning and building for the extension. Much better to get it all ready so quick turnaround when it does come. GFM is still confident of getting the licence at some point.A lot of people have mentioned the lack of future guidance. No surprise really. GFM have always provided as little information as they can get away with.However, I do recommend that you read the annual accounts. There is some additional useful information there. One is expect an upgrade of resources in the near future following a lot of drilling last year. Also throughput will increase from April once they have finished a new portal, which will make haulage easier.It will be possible to estimate 2018 numbers once you work out numbers for second half of 2017 and extrapolate based on current prices. I will have a go tonight.

[kenmitch] 10/4/2018 18:23

The best threads on ADVFN (including this GFM thread) are those where posters realise there is a plus and minus case for every share. Idiots who don’t realise that and who only want to know the GFM plus points don’t even realise when posters are posting useful information and not moaning. I’m happy with my GFM holding bought at 59p but would be even happier if GFM updates were more informative. What’s wrong with me or Makinbuks making that point?

[hvs] 10/4/2018 18:04

Best to sell out then instead of moan.

[kenmitch] 10/4/2018 17:06

Also a longer term happy holder of CAML and dividend there a huge plus and with good chance of another increase to be announced on Thursday.

Main disappointment with GFM today was not so much the lack of dividend but lack of information. e.g why is is taking so long to get the licence, and what's the stumbling block and what are they going to try and do to resolve it.

Also lack of an outlook statement and more thorough results comment is very disappointing. Hence the muted share price response to excellent results today.

[polaris] 10/4/2018 16:56

Did not get out of meeting and now it's a working dinner, followed by a new morning of meetings and flight home. With some luck I'll be able to break down figures and forward projections later in the week.

[gary1966] 10/4/2018 15:38

I reduced my exposure this afternoon because of there not being any indication of a dividend in the foreseeable future, but still hold a reasonable amount. Have added to an already reasonable position in CAML, who have results on Thursday, as they are also growing quickly, as a result of the reverse takeover they completed last year and commodity prices being favourable, and reward shareholders with very high dividends and have a long history of doing so.

GLA

[ukgeorge] 10/4/2018 14:57

i'm up 162% ;)

hehehehe

but did manage to sell a load at 20p a year and a half ago

05 Apr 2016 Sale -10,000 24.96p (cost per share) sold at 20p ish doh

[up just a little bit] 10/4/2018 14:51

Malcolm, Have you considered that maybe we are not all sitting on a 100% profit. Also to consider the previous years of statements when they have considered a dividend and decided against it seems unjust not to be more forthcoming in recompencing shareholders given the state of their coffers now!

[rmjones] 10/4/2018 14:48

Malcolmmm - If you had a spare mil right now burning a hole in your pocket, would you use it to by Griffin shares?

[malcolmmm] 10/4/2018 14:43

Lots of big sells being gobbled up my the mms . maybe someone has a big order on their books

[malcolmmm] 10/4/2018 14:33

By the way the mms acted this morning as many sold they think that the share price will rise this afternoon. I could sell or buy large amounts this morning

[malcolmmm] 10/4/2018 14:30

Some companies pay a dividend and some like this one invest in the future by ploughing the money back in thus growing the share price So why not sell a few shares to cover a say 3% dividend out of the 100% rise in the last few months?

[up just a little bit] 10/4/2018 13:34

Lots of sells going through so I'm hoping that a few institutions are busy buying hence the share price holding up.

[roddiemac2] 10/4/2018 13:18

MALCOLMMM,

"so I think to sell all ones shares may be a mistake" ---It is NEVER wrong to take a profit. GFM is still high risk.

[rose_by_another_name] 10/4/2018 12:32

I have been invested in "the future"
for 15 years. Griffin has always had
potential. That has now been realized.
Time for a return.

[jimmywilson612] 10/4/2018 12:25

I completely agree Malcolmmm - it's a weird situation where I have faith in the management & believe it's wise to invest in the future. Shareholders would agree, thus the massive increase in the share price

The problem is that I don't trust the local/national government! If this was in any other part of the world, I'll be grabbing my wheelbarrow.

[phillis] 10/4/2018 12:19

Especially an Australian one Jimmy!
Simple retaliation

[malcolmmm] 10/4/2018 12:18

GFM employ mostly Chinese people, they build schools, sports fields ect and are environmentally clean and donate money locally. They have just built more accommodation for their workers and extra staff so I think to sell all ones shares may be a mistake but who knows. I cannot see the point of some investors looking for a dividend investing in a company that hasn't had a dividend for many years and being disappointed.Maybe its all the money they have made from the spectacular rises in the share price

[jimmywilson612] 10/4/2018 12:03

Problem is the business can't influence of whether the licence will be granted, no matter how much they invest in the business.

Fear the on-going macro situation won't help speed up the Chinese government giving a western company authority.