Griffin Mining Share Discussion Threads

[phillis] 07/8/2018 10:43

podgy
indeed, just finished having a look back


This period tonnes(last year)

Zinc 16873 (19553) down 14%!
lead 459 (719)
silver 132689 (168426)
gold 9492 (9372)

Small increase in gold but material unexplained reductions in the others
(is that why unlike previous year no comparatives are shown?)

Ore processed
Jan-June 17 461618 t
July-Dec 17 506462 t
Jan-June 18 448530 t

I wonder why we dont have a section in the results announcements on mining/production operations


Never mind though the "stage is set for an exciting 2019) !!!

[up just a little bit] 07/8/2018 10:36

Fanbloodytastic we are in the LSE top ten fallers on the front of every share site going.

Well done to the BOD.

[brucey6onus] 07/8/2018 10:19

So the Chairman told us 'to stay tuned' in their last RNS, for this??? And now he talks of ...wonderful results...exciting 2019. I'm not selling for now, still in healthy profit after all but FFS give us more info than just happy clappy words that jar against these disappointing results and no dividend plans - am I right that they only added about $1mm to their cash pile in H1? sheesh

[roguetreader] 07/8/2018 10:08

Total Zinc production 2017 = 43,403
H1 2017 Zinc Production = 19,553
H2 2017 Zinc production = 23,850

H1 2018 Zinc Production = 16,873

as per Podgy comment above I don't see any explanation for the trend change in production

[up just a little bit] 07/8/2018 09:31

I recolect a poster the other day wanting some volume,, well we have it now with 500,000 before 0930 and all for the wrong reasons.

[podgyted] 07/8/2018 09:30

These results are truely shocking and this has nothing to do with the price of zinc (which is actually up over 20% if you compare the average price for H1 2017 with H1 2018).

The company gave production for H1 2108 but did not compare it to H1 2017, FYI :-

Zinc 2018 16,873 tonnes, 2017 19,553 tonnes
Lead 2018 719 tonnes, 2017 459 tonnes

So production of its main resource - zinc is down 14%.

Cost of sales is conversely up 10% - due to "additional costs incurred extracting ore from greater depth and backfilling waste material and tailings to minimise surface storage of tailings." I'm going on the presumption that COS will continue at this high level as it is not specified as a one-off.

Stockopedia gives a consensus forecast EPS for the year of 24 cents - if this production and COS continues into H2, with the reduced price of zinc, a figure of 12 cents seems more realistic.

As they say DYOR, no advice intended, no longer concerned about the dividend ............

[bo doodak] 07/8/2018 09:23

Base your decision on another anonymous poster, surely you cannot be serious!

[lodgeview] 07/8/2018 08:51

eps up from 8.85 to 8.95 even with the price of zinc crashing. That ain't bad in my book!

[alangrifbang] 07/8/2018 08:47

I will wait until sageman reports on it,if not positive I am going to sell my complete holding,the BOD should be ashamed of themselves ,have gone back to a griffin moaner again!

[gailes5] 07/8/2018 08:42

As I feared, no dividend, shares crash. The figures are most disappointing based on the previous 6 months ago and can not all be blamed on the more recent fall in the zinc price. Tried to sell first thing, the market was only
In 1000 shares and I was quoted a huge discount to sell my total holding which I should of accepted but didn’t
Wonder how many shares the company will buy back today- any advance on none?

[ewads] 07/8/2018 08:34

Most of the new iii intake are quiet. Not sure where any positive comments will be seen on this board for a while. Not sure I want to continue with this investment after many years.
Thinking of winding down (when zinc improves a bit of course).

[mariopeter] 07/8/2018 08:31

On positive side sense BOD may feel under pressure to pay dividends at year end. With that new license the costs of production should fall eventually. Good luck all. Not coming back for a while.

[hvs] 07/8/2018 08:29

Better visit a CASINO then .

20% drop in price of ZINC numbskulls.

[up just a little bit] 07/8/2018 08:26

Not bad to have 15% wiped off the company...... Well done to the BOD. Good job chaps!

[owenga] 07/8/2018 08:10

Wow, I did expect revenues more in line with last 6 months of 2017. Zinc price only really dropped in last month or so of the period.And still some way off getting that mining licence...

[phillis] 07/8/2018 08:07

Tax payment seems a bit odd

[up just a little bit] 07/8/2018 08:03

A shocking waste of an opportunity just where did this lot get their business degrees?

[podgyted] 07/8/2018 07:59

If nothing else that's a huge profit miss.

[up just a little bit] 07/8/2018 07:56

So there is no balance from the BOD. And the fact that they are looking for another acquisition proves a point that they have no intention of returning any money to shareholders. Before all the 3.5 mob get started yes there has been substantial growth in the share price but for the rest of us this is not the case. Future investors will be deterred and any funds that buy into companies with dividends are excluded once more.

[slopsjon2] 07/8/2018 07:27

"Hebei Hua Ao will be prioritized in its final documentation approvals for the conversion of the exploration licence over Zone II into a mining licence in compliance with relevant national policies."

So it's not a mining licence yet?

[ewads] 07/8/2018 07:20

'At the beginning of 2018, Griffin's wholly owned Hong Kong subsidiary, China Zinc Ltd, engaged a corporate development manager to identify potential areas and projects of interest in China.'

I did not want Spitfire MkII.

[bigbelter] 07/8/2018 07:10

Well that’ll give the moaners simething to moan about .....!!!