Griffin Mining Share Discussion Threads

[mikesnr1] 31/7/2018 23:58

sage: although inviting the taint of obsequiousness, I'm constrained to vote you up for the admirably perspicacious understanding of GFM you consistently display: others would do well to take note, rather than attempting to undermine your integrity in frankly puerile fashion.

Please don't feel for a moment like an interloper here - I for one much appreciate your well-balanced, informative, enlightening, deeply researched posts.

Guess some will share this view too...

[podgyted] 31/7/2018 23:56

It's taken me very little time to understand the culture of the GFM board.

I can virtually guarantee they will reject dividends citing zone II and other opportunities.

Zone II - they don't have a mining license yet - say it's a foregone conclusion but it's something they can string out for another 5 years. Other opportunities - I don't think shareholders want that - but they're not important.

The more time goes on the more I think this is being directed towards being a lifestyle company - the BOD are probably ecstatic with the price of zinc/lead at the moment.

[sageman] 31/7/2018 22:25

I have had limited dealings with CEO’s of multinationals. However, in general they tend to be exceptionally bright leaders who facilitate discussion within their team and thereafter seek consensus. They are rarely abrasive and generally exceptionally well informed. If People are who they claim to be this board will be enriched by anyone with those attributes.

[sageman] 31/7/2018 22:17

Alan, I ticked you up for saying sorry. Everyone is entitled to an opinion. It took me a long time to understand the culture of GFM. It also took me a long time to gain respect on the III board. Over time I have read many opinions and RNs’s and spoken at length to Roger. Roger can’t give away price sensitive information but what you can do is talk through future scenarios and gauge reaction. When/if those events occur you then have a good idea of the probable outcome. This remains my largest and most researched single share. I look forward to sparkling results but will read the chairman’s statement re dividends with interest.

[alangrifbang] 31/7/2018 21:33

I also totally agree with you,sorry sageman,

[sageman] 31/7/2018 20:34

The Bod do not control the price of zinc. Zinc has fallen circa $1000 per metric tonne since its recent high. The impact on profits going forwards can be calculated from an RNS. Zone 11 will take a year to come into full production. To expect the Sp to hit a high when the price of what it is selling has tanked along with £millions of profits is wishful thinking. The miracle is how robust the Sp has been reflecting the quality of the mine and its management.

[roguetreader] 31/7/2018 20:29

RBAN
As per previous posts totally agree.

[rose_by_another_name] 31/7/2018 20:06

We have been here before; zinc in short supply,
mine making money, share price above a pound. What did the
board do then?

Yes, I have been in Griffin for 18 years, but in
and out. The only money I have made (apart from
one small divi) is by selling part of my holding.

I see that they arguably have not been in a position
to pay a dividend over the recent past, but
circumstances have changed. Now is the time. The SP
was supposed to rocket when the licence came through.
It didn't even regain its recent high. If they want
to be taken seriously by real investors, the kind
that don't buy stocks that have no yield, a dividend
is a must. No more jam tomorrow.

[sageman] 31/7/2018 19:02

Hi Cd, this is a strange board. Our board had posters who had built respect from several years of inciteful contributions. Here you were called a liar . Here we have people who have held for 18 years and are not happy with the Sp! There is much I can say but suffice to say that probably all is not as it seems.

[neville1940] 31/7/2018 18:29

Sageman please do not stoop down to the level,of these cretants
CD

[podgyted] 31/7/2018 18:25

Covenants can be renegotiated - and are on a daily basis. That is not the reason.

[phillis] 31/7/2018 18:24

The ordinary member of the public has only to recall the financial crisis back in 2008 to understand the kind of people who work in this sector

[podgyted] 31/7/2018 17:56

There is nothing great in the mining arena about being debt free. It's not a requirement - actually it's the norm to have some debt and (bloody hell!) to combine that with paying dividends.

The religious fervor that says this company should never utilize debt finance again proves that brainwashing can work if practiced over many years.

The market would not blink at $100m of debt here - less than 2x EBITDA.

So lets think of another reason why GFM doesn't pay a dividend 'cos I'm pretty sure they'll find one in the next few days.

[sageman] 31/7/2018 17:05

Rose, I just read the RNS and work from facts . Nothing superior just research.

[rose_by_another_name] 31/7/2018 16:52

I've been in this share for about 18
years, so I think I know it pretty well.
Clearly we have different opinions, but
I entirely dismiss your claim to superior
understanding.

[sageman] 31/7/2018 16:27

Rose, where can I start. They owned 60% and now have 88.8%. But the license had 7 years to run but was extended to 25 years thus making it worth investing in infrastructure. I suggest you look at infomine regarding zinc stock levels and the zinc price. Then plot the share price and see if you can spot the correlation since 2007. The share price shot up last year and continued this year and has fallen because of zinc. This really is not hard stuff if you do some research! Your comments regarding growing up are most unfortunate since they show a complete and utter lack of understanding and lack of research.

[rose_by_another_name] 31/7/2018 15:55

There has always been a reason for no dividend.
It changes from time to time.

Last time they were making money they said they
were looking for acquisitions. They stove mightily
but failed to acquire anything but Spitfire and
the junior partner's share of the Hebei mine. Now
they are making money hand over fist and have got
the long awaited licence at last, yet the share price languishes
well below it's recent high. This is not a punt on
prospects anymore. They need to start behaving like a
grown up investment.

[sageman] 31/7/2018 13:50

Rose, the point is that this will be the first dividend in a decade with GFM having only been debt free since December. On top of that after years of waiting we have the license. So GFM are trying to balance a number of factors and want to optimise things both in terms of the share price (short term and long) and the wider business interests. Put it like this if zinc was over $1.50 and the license was still o/s the dividend decision would be far easier.

[rose_by_another_name] 31/7/2018 09:09

Other miners pay dividends. Presumably their
marketplace is equally volatile.

[phillis] 31/7/2018 08:04

Why don't you set up your own thread then?

[neville1940] 30/7/2018 19:55

Great to hear from Turkeyminder & Sageman would be great if we could get some of the iii posters on this site
CD