Griffin Mining Share Discussion Threads

[phillis] 04/8/2018 10:55

Belter
You fail to take the point
There is nothing wrong with a major shareholder being a Director
What is very wrong is such a person being awarded massive in the money share options
Why?

Options are to incentivise Management

Find me another example of a NED to benefit in such a way

Meanwhile - more important things
C'mon England!

[opodio] 04/8/2018 10:17

KAZ crashed, GFM will fall 30pc next

[sageman] 04/8/2018 08:40

Rose, my understanding was that the terms of the overdraft meant that no dividend could be paid. Now the overdraft is cleared the BOD are in full control of the dividend policy. The difficulty they have is that they know that they want to expand the mine to take advantage of the new license but they have no control over sales proceeds due to the volatily of zinc. At $3500 per tonne they make a fortune where as at $2500 things are very comfortable. Zinc fell very fast and has only stabilised in recent weeks. They will want any dividend to be sustainable therefore they will need to be cautious. We saw zinc at circa $1200 with resultant losses and depending on the price of gold I think that b/e is circa $1600 ( just a guess). Clearly if the trade war led to further falls the bottom line would be impacted albeit short term. What is good though is that the debt burden has gone along with the resultant interest rate costs. My gut feeling is that a full year dividend of 4p strikes a good balance ( taking into account previous debt serving costs etc). What I do know though is that Roger feels that the current sell off is overdone ( he could be wrong) which is why I feel that they may pay a dividend. What I also know is that the primary objective is to develop the mine so it will be interesting where the BOD draw the line here. The results will be sparkling ,that is a given ,my attention will be focused on the statement.

[rose_by_another_name] 04/8/2018 07:53

Sageman- Are you saying that the board has no
control over instituting a dividend? I have
spoken of other issues (also not "out of their
control") but currently my wingeing is focused
on the need for yield, if only as a metric.

[bigbelter] 03/8/2018 21:09

Clearly he is not independent - he owns over 30 million shares.....

Given his shareholding he probably has the interests of the company at heart

[phillis] 03/8/2018 20:43

I know who he is

He is NOT INDEPENDENT
he is a crony

Just like all of them

This not a properly constituted BOD

[sageman] 03/8/2018 19:16

G5, 2011 shares in issue 175 m vs today 172 m! as we both know GFM do various buy backs and issue director options etc. The shares in issue fluctuate to a relatively small extent. Compare and contrast with the likes of UKOG, 88E, SXX etc where PI's have been diluted massively. Dilution here has been negligible - so yes G5 ,you are nit picking! Even when they did a major placing some years back they subsequently bought back the shares. All factual, all available from the RNS's on the GFM website.

[phillis] 03/8/2018 18:25

Including a massive award to a newly arrived NED!
I would certainly like to ask Ninkov the reason for that

More than were given to our Rog

[gailes5] 03/8/2018 18:15

Sageman, I may appear nit picking but sometimes you state with great authority facts that are not correct. You say zero dilution. I can’t remember the exact number but at a guess 6M shares were issued to directors a few years ago and, I think it was last year that a further 20M options were issued. I accept that it is not large but significant dilution nonetheless.

[sageman] 03/8/2018 17:53

I have no trouble with putting any BOD on the spot and asking difficult questions albeit I prefer to do it privately. However, one must ask ones self what can a BOD control? It is pointless complaining about a fall in the share price when it is because of global commodity prices.I wonder how many posters here have read through the archives of GFM and looked at the facts. Dilution? zero. Development of mine ? 2010 389,496 mined vs 2017 920,168. License extension. Capital investment to double production to 1.8m tonnes following zone 11 license. Stockopedia give this company 100/100. The only company to achieve this but for posters here that is not good enough. The share price hit an all time high this year. Not good enough. I long ago stopped blaming the BOD for things that they can't control. I have asked them for more RNS communication and let them know that I would like a dividend. What I do know is that Roger has more shares even than CD and probably more than anyone here. It follows that he probably wants a dividend and the share price to rise more than anyone here.

[phillis] 03/8/2018 17:21

Edmond Jackson had one share in one of the companies I ran
He used to turn up at every AGM and monopolise question time - nice polite young chap
AGM attracts all sorts but it is a good time ( and usually the only one ) to put the Chairman on the spot

[gbh2] 03/8/2018 16:57

Thing about AGM's, especially small companies, is that there's often no one to ask the awkward questions so when someone turns up that's not afraid to speak the sheep get embarrassed, say nothing then go home and complain on advfn!

[up just a little bit] 03/8/2018 15:50

Sage,
We get your point. Maybe you have to reconcile the fact that there are all sorts of people out there and if you want a private club set up a thread on Pro Boards.

[sageman] 03/8/2018 14:25

Has none of you ever thrown a party and some people behaved in an unfortunate way and perhaps some of the guests you would rather had not turned up?!I know that in the past GFM had AGM's and certain shareholders turned up half cut and just annoyed everyone with stupid comments having done no research whatsoever. You can buy £10 of shares and attend an AGM it doesn't make your attendance desirable to anyone if you thereafter behave disrespectfully to the BOD and other shareholders. Apologies if this was not clear from my previous post.

[rose_by_another_name] 03/8/2018 09:54

"Well educated"? You can't prove a thing.

[zooman] 03/8/2018 09:53

Hi chaps shame about iii as CD will know I have been in this share for many years. From the time of Mr Tall etc and attended the meal that we had for the GFM holders had in Oxford. I dont post due to the trolls and their lack of understanding. But as Sage said 2018 could be the year. The thing about debate and information is you can listen and read no-one forces you to act but all information has its uses.Good luck one and all.Zooman.

[neville1940] 03/8/2018 09:20

Hi Millwallfan,
Trust you are keeping well possibly like you I really miss the iii discussion board looking forward to seeing your posts on this site ,hopefully great results next week
CD

[gbh2] 03/8/2018 07:57

AIM Company Directors are no different to other Company Directors, they can only be trusted to fill their own pockets.

Anything PIs make out of Holding company shares is purely incidental to company directors main objectives!

How do I know this, I sat at similar tables on many occasions.

[up just a little bit] 03/8/2018 07:38

For those of us who didn't buy in at 3.5p. Most likely the majority of PI's. We're it not for us then it could be argued that the share price may well be somewhat lower than it is today. If we are obnoxious and an irrelevance then the stock market may as well be closed.

[slopsjon2] 03/8/2018 07:25

How can a shareholder be an undesirable. This is one of the most anal threads I have read on ADVFN.

[up just a little bit] 03/8/2018 02:54

The joy of a company in Bermuda and listed on AIM. All part of life's rich tapestry

[sageman] 02/8/2018 23:32

Hi Keeping, Spitfire was a play that GFM believed would be unlocked at a future date with technological advances. In terms of the offshore AGM's my understanding is that it helps from an hmrc prospective and also has the advantage of keeping undesirables away. When zinc tanked the bod had to put up with some fairly obnoxious PI's who just didn't get how things work and that they were utterly powerless to control global zinc prices. So Bermuda has a dual advantage.