Griffin Mining Share Discussion Threads

[sageman] 29/8/2018 22:58

Good post lodge I have voted you up

[roddiemac2] 29/8/2018 22:01

lodgeview,

I don`t know how long you have been investing in shares, but it is a good idea to divide the sum of money you allocate to shares over a given period into say not less than ten, then don`t put more than a tenth of the money on any one idea.If one of your investments goes bust and another doubles your money , you are at least back where you started. Everyone gets a loser from time to time. Some say that one out of four shares you buy is likely to lose you money, but it would obviously depend on many factors, not least the level of risk you take on.

There are some good companies on AIM, but less regulation usually means higher risk. Some call AIM a casino, but that is a bit harsh.

Don`t panic.

[sageman] 29/8/2018 19:34

Best post I have read of yours Phillis. I have marked it up. I think that the bit you are missing is that a major mine came back in to production on August 9th and until $1.04 is retested and bounces strongly or zinc exceeds $1.30 the price direction of zinc is assumed to be down. The market is pricing this in to the forward P/e with resultant pressure on the Sp. Take a look at some of the gold miners over the last year eg Randgold and you will see that as gold has fell so too has the Sp ( not every day) but the trend Is unmissable. Blackrock Gold and general reflects the same message. We need zinc to rise otherwise whatever the BOD do the Sp will fall as shown.

[phillis] 29/8/2018 18:13

Sage
I have ben supportive of the Board's actions since before 2006
I was a loan voice on this thread supporting the buying out of the Chinese minority

I do feel let down by the absence of a warning before the half year, since which time the share price has dropped 30p+
During this timethe zinc price has fallen for a couple of weeks and is now recovering to the levels prior to the half year RNS
The Governance I can live with even if I criticise as long as I remain happy with the business direction and performance
I sold some of my family holding after the results and picked up 10k the other day
Our current family holding is just shy of 1/2 million

I own a number of shares where cash is being returned to shareholders via buybacks
In not one case has this led to outperformance - private shareholders prefer dividends even if certain institutions dont

My family's largest holding is in RWS, another AIM company
So you can see I have nothing against the risk profile of AIM but it does of course require the Board to follow best practice ( no problem in that respect with RWS)

PS
RG s answer to my questions were

1/ embarrassed waffle
2/ still haven't had one
3/ his response shall remain confidential

[rose_by_another_name] 29/8/2018 17:52

Hard to say how much effect the buy-backs have
had, but I feel I can say with confidence that
the announcement of a dividend would have had more
effect.

[alangrifbang] 29/8/2018 17:02

Well said,

[sageman] 29/8/2018 16:52

If you not think buy backs are helping then answer this question. What price would the Sp be now if those shares were floating around the market? We need zinc to rise and the license to get the Sp going. In the meantime FCA definition of an investment is 5 years. You do not make a loss unless you sell. Sounds like the people panicking are gamblers. Let us call a spade a spade! Aim is high risk and when you gamble you must be prepared to lose.

[opodio] 29/8/2018 16:35

90p coming

[lodgeview] 29/8/2018 16:32

15000 sold in the last 10 minutes of trading at 1.07Confidence has totally gone here. Another red day tomorrow and I am OUT of this POS

[phillis] 29/8/2018 15:11

The only questions I pose
Why did the BOD not give a trading RNS when expected performance ( vis a vis yields) fell materially short of expectations?
NOT EVEN ANY REFERENCE IN THE RNS they did issue


Why eschew dividends but continue with buybacks - what is the strategy in this respect?

Why reward Non Execs with huge share options?
I cannot in 45 years + of working/investing recall anything like a precedent

[rose_by_another_name] 29/8/2018 14:34

So, as we are not now in debt, and can't
spend on expansion until the licence
actually comes through, a dividend is
the only sensible use of the cash pile
(clearly buy-backs aren't helping).

[sageman] 29/8/2018 14:12

Phillis , I have told you before but you refuse to accept the answer hence I keep repeating the answer because you ask the same question!!. They could not pay a dividend whilst they had the bank debt. The shares cancelled previously were presumably bought cheaper than 1.56 and below today's share price (since they were cancelled last year). A meaningful dividend would have cost circa £8m. Buying shares is always questionable but in a low volume share can be very effective at supporting the share price Given the magnitude of the fall in zinc I think that had buybacks not been in place we would already be sub £1 (just my opinion). Remember the BOD have shed loads of shares and do not like the share price to fall. PI's rightly whinge when their 100,000 holding drops 50p from an all time high, imagine the pain if you held 1 million shares or as many as our esteemed leader!

[phillis] 29/8/2018 13:30

sage
you keep repeating yourself

you speak of the dividend agenda but buybacks (another way of returning cash to shareholders) have so far cost probably not far short of £700k in 2018- first purchase this year at 156p compared to today's share price of 108p

what do you suppose is the buyback strategy

they cancelled 9m shares in treasury last year all of which were bought in whilst they had debt

[alangrifbang] 29/8/2018 12:51

Upjustalittlebit ,I have tried there PRs to get information and when you speak to them they barely know who griffin is!! If they kept the shareholders more informed I wouldt feel the need to contact the BOD,I have many shares in my portfolio that do keep the shareholders up to date,don't forget my share dealer invest direct only give griffin a hold at best,they have exactly the same problem and they are so called in the know!!
Another good post sageman ,keep it going,

[sageman] 29/8/2018 12:39

Phillis, it was ever so and they will not change.They hold their AGM in Bermuda and just get on with running the mine. Over the years not a bad job. share price 3.5p to circa £1.60 at peak earlier this year. Production expanded , %age of co increased and length of lease extended. Many years ago Roger said that they found releasing lots of RNS's is a fools errand because zinc volatility can quickly reverse things and change plans, as we saw in recent months. To some extent less is more. Anyone investing here would surely do their homework and see the RNS history prior to investing. Other than share buybacks you are lucky to see 6 a year (including results). We often get what I call a news vacuum. The BOD have an expansion and dividend paying agenda (in that order) but to achieve either you need the cash. If zinc tanks or you can't get the requisite license you have to put things on hold (when you have existing debt, which they had until the end of 2017) - that's business.

[up just a little bit] 29/8/2018 12:10

Phillis, "Boring production" and "battling on" are hardly inspirational. And that's my point in using a half decent PR company to give regular updates without giving the impression that you want to slit your wrists.

[opodio] 29/8/2018 11:15

Level 2 weakening. Just saying may go red soon

[phillis] 29/8/2018 09:48

please explain why you would want to stop Directors speaking to shareholders

[up just a little bit] 29/8/2018 09:35

27983 is just so positive Phillips I thought even you may see just what a great statement he is making about the company. "FFS"

[phillis] 29/8/2018 09:25

Nothing wrong with Directors talking to shareholders as long as they don't break any rules on disclosure
We OWN the business FFS

[up just a little bit] 29/8/2018 08:58

We really need to stop individuals from the BOD communicating with shareholders and let a professional PR person do the talking. Talk about digging a hole! Sloshing the oil about as well.

[opodio] 29/8/2018 07:02

Aim is high risk and this has had dodgy goings on in past like payments to certain shareholders

share price should tank again today