Griffin Mining Share Discussion Threads

[rubberbullets] 07/8/2018 19:18

They should pay the chineses ano bribe

[hvs] 07/8/2018 19:09

(Lord) Duncan McGowan took it very well, such a gentleman
Somebody needs to put a rocket up the current Panmures management and ask them why they aren't doing their job properly

lol !!!! lol !!!!! It sacks a LORD and says it it very well without saying WHY ????
Cause its a LORD and got a nice fat pay off. By the way you sacked the company NOT the LORD. Did he not need arocket up HIS BACKSIDE ???? What has PANMURE done ????

[phillis] 07/8/2018 19:03

Many many years ago in the distant past I had the slightly uncomfortable job of sacking Panmures
(Lord) Duncan McGowan took it very well, such a gentleman
Somebody needs to put a rocket up the current Panmures management and ask them why they aren't doing their job properly

[up just a little bit] 07/8/2018 18:34

I bet they are sitting in the Waterlot Inn laughing their heads off.

[sageman] 07/8/2018 18:16

Hi lodge, sorry to hear you are down you must have only invested recently. I initially bought in 2016 at £1.10 so also have had times in paper loss. Don’t despair though it is a well run mine and zinc is cyclical. If management do what I expect we will be producing four time what we are now in 3 years time. The unknown though is the zinc price.

[lodgeview] 07/8/2018 18:10

Sageman I read your posts with interest. I will continue to hold as I am 10k down. Hopefully the license will come through and zinc price will recover. Fingers crossed. Not nice to be losing so much.

[opodio] 07/8/2018 18:07

Now they just needed to produce some gold. Which was a problem as there had never been any to begin with.

peat_forest_swamp_10712654875
The Borneo forest in Kalimantan, near where the fabled mine supposedly was.
Photo:Ruanda Agung Sugardiman/Wikipedia

As it would turn out, de Guzman had been “salting” his core samples with gold dust, first with shavings from his own wedding ring and later with $61,000 worth of locally panned gold.


The jig was up

[opodio] 07/8/2018 18:05

Who stole the zinc

Was it Chairman Moooo?


Remember Bre-X

[hvs] 07/8/2018 17:59

I am musing as to whether this failure to disclose should be reported to the UKLA
Anyone confirm if this is the correct body still?

lol !!!!! lol !!!!! Remember Carillion ????

[opodio] 07/8/2018 17:51

opodio6 Aug '18 - 19:51 - 28313 of 28375
0 0 0
Legs about to come off here as Chinese scam unveiled imho
bigbelter6 Aug '18 - 20:25 - 28314 of 28375
0 1 0
Any chance of some evidence ...??

Your single track is getting a little boring..................






Legs akimbo

Is going to 30p

[sageman] 07/8/2018 17:48

The lower grade zinc led to less zinc sold albeit at a higher price than 1st half of last year. They actually received slightly more money for the total zinc sold in this half year because they sold at circa 2500 vs 2000. The current share price reflects no dividend, license not completed and fears for future zinc prices. It is actually pretty much where it was prior to license news. Markets always discount forward news. Thus at 1.60 we reflected zinc at 3500. It fell to the 1.20’s with zinc falling and rose to 1.40’s on license news. Aim will always be volatile it is the nature of the beast. I will just use weakness to add more. Others will do as they please. This share remains mainly a play on zinc and moaning about the BOD makes no difference. It’s strong rise over the last 2 years was driven by zinc prices as was its fall previously.

[phillis] 07/8/2018 17:35

No prob

I am musing as to whether this failure to disclose should be reported to the UKLA
Anyone confirm if this is the correct body still?

[podgyted] 07/8/2018 17:26

Phillis - that's what I meant about zinc price - worded badly on reflection.

[podgyted] 07/8/2018 17:22

Yes sageman the BOD should be ashamed of themselves.

The poor result today is at their door - they cannot blame the price of zinc on this one - this one was about poor production and rising cost of sales.

The cost per tonne of zinc (ignoring other metals, which is reasonable for this indicative purpose) has gone up from $1,064 to $1,383 - 30%. This is no longer a low cost operation.

They sought to hide this by not providing comparative figures IMO.

You should not have to contact the FD to get the information you did - it should be in the report.

[hvs] 07/8/2018 17:14

I forgot. Rubbish company, bod should be ashamed of themselves.....pathetic!

Best to apply for Directorship then ?

[phillis] 07/8/2018 17:11

so 13% down on the day

another one like this and i shall have to seek employment

Podgy
Price of zinc was not the problem - y on y it was up 21%

Higher overheads and much lower metal yields were to blame

This shortfall ( or combination of the two) should have been the subject of a trading update RNS

[sageman] 07/8/2018 17:04

Hvs you have a paper daily loss of 10k on your 50,000 holding. In contrast Cd has a paper loss today of 120k on his 600,000 holding but he is not posting negatively. Cd invested circa 20k in the late 90’s at 3.5p per share. He has seen his holding grew by a factor of 40 even at today’s prices. At one point GFM had nearly made him a millionaire. But sorry , I forgot. Rubbish company, bod should be ashamed of themselves.....pathetic! Also don’t buy long gated gilts when rates rise via retail fundsit they are a guaranteed loss investment .

[sageman] 07/8/2018 17:04

Hvs you have a paper daily loss of 10k on your 50,000 holding. In contrast Cd has a paper loss today of 120k on his 600,000 holding but he is not posting negatively. Cd invested circa 20k in the late 90’s at 3.5p per share. He has seen his holding grew by a factor of 40 even at today’s prices. At one point GFM had nearly made him a millionaire. But sorry , I forgot. Rubbish company, bod should be ashamed of themselves.....pathetic! Also don’t buy long gated gilts when rates rise via retail fundsit they are a guaranteed loss investment .

[rmjones] 07/8/2018 16:58

Always look on the bright side - zinc up 0.0159

[rmjones] 07/8/2018 16:54

Does it ease your day if I say think of Mr Griffiths who must be about 2 million down today.

[hvs] 07/8/2018 16:32

What an awful day. Down 10k ffs

Buy GILTS

[celeritas] 07/8/2018 16:31

Don't like dilution. Mario is right, those options stink and have always been an issue for me. The BOD took their chance to cancel higher options to issue a shed load more lower down. If that isnt dilution in the future then what is. The amount of options is pure and utter greed which is a huge red flag. The directors simply try to cover up these huge options by buying stock back to to try and keep a lid on stock in issue.

Why not issue a dividend and maybe award some limited options based on performance, oh yes I forgot, the current bod need incentive otherwise why bother getting out of bed.

[podgyted] 07/8/2018 16:20

The fall in zinc prices everyone is referring to took place essentially AFTER 30th June 2018.

So on the basis of good zinc prices they have had a very poor result in H1 2018 - on the the basis of the bad current prices of zinc they are going to have a (???) catastrophic H2 2018.

Make your own minds up - I was worried about the strategic dividend decision prior to taking a bigger stake here - now I think its uninvestible based on pure profitability grounds.

To reiterate some of the comments above, it is absolutely unacceptable that GFM tried to hide their production performance by not including 2017 comparatives - its perhaps even more shocking that they thought they could get away with it.

They should be utterly ashamed of themselves, but somehow I suspect that is not the case.

[rose_by_another_name] 07/8/2018 16:16

Essentially rewarding directors with cheap shares
then buying them back with our dividend money.