Griffin Mining Share Discussion Threads

[zooman] 03/2/2019 22:15

Meant to say the it's not GFM where the possible corruption could be but the people who will sign it off. If they have been involved with things elsewhere.Zoo

[zooman] 03/2/2019 22:10

Yes you are right the problem is that the people who will give the final say so are nervous. The Chinese have method of correcting this. It's called a bullet which has in part been the reason for the delay.Methinks things will happen when the price of zinc goes higher indeed it's moving north so maybe sooner rather later. I would also imagine that Griffin has been selling low grade zinc ore at the moment due to the low price and once the price reaches a point they will switch to the higher grade.I have more cash to add but as a good woman will say, timing is everything. Better to get on board as it starts to move rather than when it's stalled. But when there is news it could move fast.Zoo

[alangrifbang] 03/2/2019 21:29

There is an article phillis in today's Mail about centamen ,reads very well and it's a buy,just thought you maybe interested,

[millwallfan] 03/2/2019 21:27

Zoo. Every indication I have ever heard is that Griffin have never been involved in the widespread corruption. They are recognised as one of only a handful of ‘foreign’; companies to succeed in China and have excellent relationships with the authorities- ( remember the cows, local employment, excellent safety record etc) - if my memory serves me correct they may actually be the only foreign company to have been awarded a mining licence in China - but I stand to be corrected. I hope you are right that the final dotting of the ‘i’s and crossing of the ‘t’s is virtually there and that the licence to expand is imminent.

[zooman] 03/2/2019 21:14

I think you are right but just to point out I'm not the one saying the a dividend is the thing that will make the company. If it happens it will however other things will need to happen first. Griffin have recently had to revisit some aspects of the licence application which has now been sorted. One of the issues regarding the go ahead is to do with making sure that there has not been any back hand deals done which in fairness to the company has frustrated them.But time will tell.Zoo

[up just a little bit] 03/2/2019 19:16

ZooI think to be fair GFM have in several reports alluded to the fact that they recognise that a dividend is something that will come, however they are playing a game of hide and seek when it comes to delivering. It's plain for all to see Rose likes the idea of a dividend as do I. You however prefer the 10 uplift to trade so why not leave it at that

[zooman] 03/2/2019 18:13

Maybe but what I don't understand is that Rosie bangs on about a dividend all the time. If my wife carried on like that I may consider a new patio. :-) Maybe it's age related Idont know. Thus why doesn't said person not lobby the company directly because as sure as eggs are eggs they won't give a toss what is said by in the main one poster on a BB.Zoo

[rose_by_another_name] 03/2/2019 15:00

The lesson from KAZ (if any) is that the worst
thing Griffin could do is to announce a grand
new project requiring lots of new money. The
anticipated licence over a new area adjacent to
the existing mine won't be an issue as most of
the investment has already been made. However,
Griffin has a record of talking project
acquisitions as an alternative to dividends. I
argue for dividends and the KAZ example would
support that.

[up just a little bit] 03/2/2019 14:54

As Rose said it's not either/or. You like your 10%and others like dividends. You can have both and each has a role to play. If Griffin in the finals say there is still no news re the licence and churn out a statement that is written as awfully as the last then we may retest 80p or lower. If they get some half decent PR company to write it and perchance announced a dividend we may all be sitting pretty.

[rose_by_another_name] 03/2/2019 14:48

KAZ's share plunge came on the day of the
announcement of the huge spending commitment
starting a new mine in Russia. The dividend
was announced two weeks later. Clearly the
dividend announcement was meant to stem the
tide but it wasn't enough. The precise timing
of events can be found in the news and correlated
with this chart:

[kenmitch] 03/2/2019 13:34

No it won’t necessarily cause the share price to rise. . As you’ve pointed out the KAZ share price fell when they announced a dividend because around the same time they announced their market unpopular new mine in Russia.

If announce a dividend = certain share price rise, wouldn’t investing successfully be easy!

[rose_by_another_name] 03/2/2019 13:15

It's not either/or. The whole point of
restoring the dividend is that that will
cause the share price to rise.

KAZ fell because they announced vast new
spending on a new mine (in Russia at that),
which would bring share dilution and rights
issues, lots of costs, when investors thought
they were in a cash cow. Plus, its Russia.
China is handing out death sentences to corrupt
officials but Russia is sending assassination
squads to Britain to silence rivals.

[zooman] 03/2/2019 12:55

What three cents again? Give me a 10% lift any day.Zoo

[up just a little bit] 02/2/2019 23:17

Jolly good show Rose. Ken needs to appreciate the facts and is clearly distracted by Barbie. The facts are that the management have absolutely stated that they want maximum return for shareholders whilst awarding millions to themselves.Time for a dividend Roger.

[rose_by_another_name] 02/2/2019 14:02

Your comparisons to other shares are
spurious. Is KAZ waiting for China to
grant them a licence? They are a copper
miner in Kazakhstan, not a zinc miner
China. The big drop in their share price in August
coincided with the announcement that they
had paid $900 million for an undeveloped
copper resource in Russia, not with the
announcement of a dividend.

"Capital expenditure to develop the mine
estimated at $5.5 billion"

" 22.3 million new KAZ Minerals shares to be
issued to Vendor"

[kenmitch] 02/2/2019 13:40

Nonsense again.

KAZ is making huge profits.

Posters who insist on posting rubbish even when given clear evidence it’s rubbish, ruin too many ADVFN bbs. And at its worst all sensible posters move on and only the idiots are left, so that threads on some shares become hundreds of posts a day,with nearly all of them dross; just like what is being posted here by Rose, or even worse!

[rose_by_another_name] 02/2/2019 13:12

Kenmitch-

Of course the licence aproval would move
the share price. So how does the BOD
cause that to happen?

A quote from the chairman's statement of
April 2016:

"The last major disappointment of the year
was the continuing delay in obtaining the
new Mining Licence over Zone II. It is now
years overdue and restricts the Company's
ability to reach a 1.5 million tonne
throughput. Needless to say, a huge amount
of management time is dedicated daily to
ensure this process reaches a successful
conclusion in 2016."

Well, despite all the time devoted, they
were unable to reach a successful conclusion
in 2016, 2017, or 2018. It is even more years
overdue and they can do nothing about it.

The board can however institute a dividend
right now, without dedicating a huge amount
of management time. Your examples of other
mining companies are spurious. Griffin is
profitable and it is overdue that some of
those profits should be paid out to investors.
Recognizing this will help the share price.

Again, from the 2016 Chairman's statement:

"We remain firmly and irrevocably focused
on delivering the returns you deserve and
expect from your company."

This from a man who takes millions out of the
company for himself every year.

[alangrifbang] 02/2/2019 12:55

I agree kenmitch ,I have thought of buying KAZ on many occasions but missed out,I've been in griffin since the beginning they have always been slow on news,there are posters on here that will tell you they don't have to say anything,I don't know who is right,because they stay silent we haven't got a clue how they are doing,nobody knows what price to set on them,I just hope we don't have to wait till there results in April,good luck,

[zooman] 02/2/2019 12:52

He was back last week when I spoke to him. Just not in on Friday. The problem with GFM it's like Lance Corporal Jones coming to attention always a bit late. It will get there and I can't help feeling sooner rather than later. IMHOZoo

[zooman] 02/2/2019 12:47

Well said.Zoo

[kenmitch] 02/2/2019 12:34

Nonsense posted here about dividends.

There are plenty of shares, including miners, that don’t pay dividends and have seen their share prices soar. Including some of the most successful on AIM like BOO HOO.

KAZ Minerals share price was around £10 when they started dividends again after several years without. The share price didn’t rise. It fell heavily on the day of the dividend news and went on to fall 50%.

What will move the GFM share price is not a DIVI but licence approval at long last,along with far more information than they are providing at present.

[alangrifbang] 02/2/2019 12:25

I have noticed zooman that zinc is almost 2800 this morning,surely this must make a difference to the share price ,this has been quite a rise in the past week,Roger back to work Monday,I wonder if he has any news after his trip to China,

[zooman] 02/2/2019 10:22

Indeed. Just waiting for the next lift in order to trade again. Everyone has their plan mine seems to work for me. Mind you if we found the Holy Grail then that would be something. ;-)Zoo

[up just a little bit] 02/2/2019 10:07

Zoo, Looking for a dividend here is akin to finding the holy grail. If you were looking for options then your luck would be better.

[zooman] 02/2/2019 09:56

Looking for the dividend. -:)Zoo