Griffin Mining Share Discussion Threads

[gailes5] 08/8/2018 14:04

After holding for many years I sold the remainder of my holding this morning. Maybe the wrong decision but my reasons are to me valid. Those reasons I will now detail, but I do stress that it is not advice I am offering only food for thought.

I asked myself if I didn’t hold any now would I buy. The answer was no, so I shouldn’t hold.
I do not and never have trusted the BOD. for a number of reasons.
They are greedy, options and Nichof’s service contract of a short 2m$
The announcement yesterday was decidedly slippery.
The lack of communication is appalling, we are likely to have no news for 6 months unless the mining license is granted.
Total arrogance and disregard to shareholders, the owners of the business.
The sum paid to increase the shareholding from 60+% to 88% was enormous, more than the value of our existing holding. To my mind it stank.

On the other hand, the company has been hugely successful in the last 18 months and credit is due but for Sageman to tell us of the enormous appreciation in the share price he is being very selective. If you bought at the wrong time your gain is negligible. My first purchase was donkeys years ago at 111p, not much gain selling at 120 odd. Thankfull I did buy many times thereafter but not until 6 months ago was I in profit.
I know this epistle will not be welcomed by many and I am not urging anyone to sell only to be careful.

[mariopeter] 08/8/2018 13:31

Good idea to expand in China where you have to wait 3 years for a bloody mining license after you paid $40 mill to extend the life of the mine and in so doing would have expected double quick turnaround.

[mariopeter] 08/8/2018 13:27

Yes and it's what you fear most is another Spitfire. Don't worry they have been looking for opportunities for a very very long time and unless it has solid gold bells and whistles and is going for 3p they will reject each proposal. Waste of a good salary if you ask me.

[phillis] 08/8/2018 13:16

" 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."

Not important enough to mention in Finals RNS in early April

[gbh2] 08/8/2018 12:55

First Zone probably ground zero.

[rose_by_another_name] 08/8/2018 12:17

Someone asked about zone I. There is no zone I.
The zone currently being mined is zone III.

[gbh2] 08/8/2018 11:25

Nothing new from the Brokers yet.

[cflather2000] 08/8/2018 10:33

I haven't sold as the potential here is still significant with the zone 2 license potentially on its way. I do think the management's communication has been poor. Ore extracted was down year on year, but you can only find that out looking through blast year's figures, and there has been no explanation from the board. Then again, I knew when buying that this board doesn't communicate well with shareholders, so it's not a surprise

[gbh2] 08/8/2018 09:59

roddie,

I lost a few quid on the ones I sold when the market opened, after reading the results, managed to 131.8p, however I kept a few shares (just in case) this one days hits the big time :))

[roddiemac2] 08/8/2018 09:50

gbh2,

Yes, some of the comment here borders on the obsessive, which could be an indication of unconscious doubt.

GFM is and always has been risky. I sold my last tranche at 139p for good profit, not wishing to be the richest man in the graveyard.

[brucey6onus] 08/8/2018 09:46

RBAN - LOL

Anyway relax everyone, the poor Zinc production and results were just so the company could buy back its shares on the cheap. Clever BoD. haha

[gbh2] 08/8/2018 09:35

Deluded or what :)

[rose_by_another_name] 08/8/2018 09:34

gbh2- Some of us millionaires are retired, so
have enough time on our hands to comment on
this board as well as the secret, expensive
ones that you small-timers don't know about.
It's how we retain the common touch so admired
in the exclusive clubs.

[millwallfan] 08/8/2018 09:32

Sage. Sadly I haven't had any contact with CD since demise of iii - have you? I live very close to lakeside so Chelmsford area only 30 mins for me.i know CD used to use Bentley dealer there so guess he within reasonable distance. If u have no contact details I wonder if iii would e mail him on our behalf ??

[gbh2] 08/8/2018 09:01

One has to laugh at the idiots that post losses that they have in their Demo accounts!

Because if I didn't laugh I'd have to believe that folk with hundreds of thousands of £s would bother sitting around commenting on a free bulletin board !

[mariopeter] 08/8/2018 08:52

LOL ONJohn.

Sageman how long have you owned shares in GFM? When Griffin directors, via options, give themselves 15% of the entire market cap of the Company as a bonus over what period of time was the bonus for? Do you know what they are paid each year as a base salary?

[onjohn] 08/8/2018 08:33

Was there any zinc ever actually there is it a scam

[sageman] 08/8/2018 07:50

G5 , it is a statement of intent. You do not buy lots of shares when there is high volume. The way to impact the Sp is to buy on low volume. GFM will not want to buy millions but strategic buying of a stock on low volume can be very effective.

[gailes5] 08/8/2018 07:38

Panic over, the company rides to the rescue by supporting the share price They bought 10000 yesterday!! Pathetic.

[up just a little bit] 07/8/2018 22:41

Sage Are you seriously quoting a character called Catherine Tate? That's the end of you credibility.

[lodgeview] 07/8/2018 22:11

10k down for now fella

[sageman] 07/8/2018 22:11

Up, you only make or lose money when you buy and sell. On paper I am 100k down today but in the wordS of Katherine Tate “ am I bothered” answer NO. I wasn’t “bothered̶1; when the Sp hit £1.60 and I didn’t demand a trading statement why I was making so much money and I remain relaxed now. Good company, good bod but Chinese patience- you work it out! If it was easy every one would be a millionaire.

[up just a little bit] 07/8/2018 21:37

10k down are you?You are happy to label a shareholder a troll whilst you are 10k down and are seemingly prepared to turn a blind eye? Maybe you can flush 10 k down the toilet and still say what a marvellous management team GFM have.......