Griffin Mining Share Discussion Threads

[sageman] 05/8/2019 13:44

Jaspoland, that is the point. There are an awful lot of what ifs, none of which are priced in. I am not trying to find the bottom. I am happy to find a good price and then nibble away buying tranches. As always the real money is in diversified global index trackers.

[jaspoland] 05/8/2019 13:32

Lots of what if's there Sageman !!! We're overdue a recession. Just look at what gold is doing and all the central banks buying more gold than they have in decades. Why? Time to Invest in banks will come but not yet. I wish you well.

[sageman] 05/8/2019 13:25

Jaspoland, the issue is that markets have already priced lots of negativity in to the share prices of banks. Personally I think it is overdone , especially in the UK. FTSE100 has under performed the world index by circa 25% since the referendum. What if Europe wakes up and realises it has a trade surplus with the UK of £64 bn? What if we do a massive trade deal with the USA? What if governments launch massive stimulus and this happens across Europe (not just in the UK). What if we actually do get a Brexit deal or remain?!

[jaspoland] 05/8/2019 13:06

I don't understand the idea behind buying banks, regardless of offered yields, when a recession is staring us in the face. Maybe I'm missing something?

[phillis] 05/8/2019 12:46

Volatility is good for the long term investor
Little point in holding GFM when this morning represents a good time for investing in good divi payers with an international business spread

Now down to my last few ( sentimental hold)

[zooman] 05/8/2019 11:17

Will we be in the sixties by the end of the week?Zoo

[sageman] 05/8/2019 09:18

Bought some more Lloyds 50p (with dividend it is 49p) another nibble. Have bought back in to equity markets via trackers this am. I do love dips.

[jaspoland] 03/8/2019 08:39

I'm glad some of you lth's have taken the decision to offload Gfm. Whilst we can see it's a world class mine it doesn't look like they are going to be able to reap the benefits.

Wait for capitulation and then it might be worth a look. Gla

[sageman] 03/8/2019 06:46

Hi Jaspoland, totally agree with your views about banks and also your comment about Lloyd’s in the 40’s. 45p to Lloyd’s is what 52p is to GFM in terms of support levels and value. Banks always suffer when rates fall. However, I tend to feel that with Lloyd’s most of the negativity is baked into the price and that with a dividend over 6% I can afford to take a view in terms of holding it for a while. It won’t go bust and the Sp is range bound between 45p and 75p. So circa 50% potential upside in Sp plus a 6% dividend whilst I wait...that works for me!

[alangrifbang] 02/8/2019 18:13

Jaspoland hi,yes I have held on to centimin I'm not so bullish as all of you but will keep them for now,I don't think we can be upset at the large drop in share prices today,with the stockmarket tanking it had to happen,there has to be a general election soon boris is running on empty,let's hope next week is brighter,

[jaspoland] 02/8/2019 18:10

The main issue I have with banks is margins. If interest rates are falling they get squeezed. Also housing market is falling in London so expect that to weigh on them too.

Flip side ppi ends soon but I personally wouldn't be a buyer of banks currently. However longer term some bargains can be found. Maybe LLOY in the 40's would be worth an investment should the opportunity arise.

I never like October as it seems like a month for crashes and I don't expect this one coming to be any different.

Maybe cash is king for the time being

[rose_by_another_name] 02/8/2019 17:40

Today I put a few quid into RBS. I don't
know if that is buying the dip or catching
the falling knife.

[zooman] 02/8/2019 17:35

I know Rose.

[sageman] 02/8/2019 17:20

Hi Jaspoland I too have bought a chunk of gold and couldn’t resist another nibble at Lloyd’s today. As well as cutting my GFM I aggressively cut all my equity holdings ( the real money ie diversified index trackers etc) in June and have regretted it as markets rose. Am looking to buy the dip. Will probably use hedged index trackers due to fall in £ and probable retracement.

[neville1940] 02/8/2019 16:33

Hi Alan.
It would appear that your brokers prediction of 67p is looming all shareholders need now is a bad set of 6 months figures
Moving on after being in for over 20 years I made the decision 10 days ago to dispose of all my holding got a great big CGT bill to pay in due course however GFM has been a extremely profitable investment for me good luck to all those are still in
Cheers
CD

[jaspoland] 02/8/2019 16:33

Alan, You don't need your broker to tell you GFM isn't a good investment. RNS's have been negative, ZINC price has been trending downwards and the chart has shown support levels being broken.

Hope you held onto CEY as I suggested ;)

Watch gold over the next few months. Believe $1500-1600 on the cards

[alangrifbang] 02/8/2019 16:16

Like phillis im so glad I offloaded most of my GFM shares,I thnk I will have to take more notice of my broker in future, has been so right,

[rose_by_another_name] 02/8/2019 16:03

You mean your typo? You can edit it you know.

[zooman] 02/8/2019 15:47

Well spotted you!

[rose_by_another_name] 02/8/2019 15:45

Oop- 80p support seems to have broken.

[rose_by_another_name] 02/8/2019 14:53

Semantics. Symantec is an American
software company.

I'm curious as to where your information
about stockpiled ore came from.

[zooman] 02/8/2019 11:53

Never said that they were full! But I'm sure you you think know everything there is to know anyway. Too nice a day to be talking Symantec's.

[phillis] 02/8/2019 08:24

So all the stopes are full of mined but unprocessed ore that contains higher levels of gold and silver?

I think not

[zooman] 01/8/2019 17:18

P. Nothing underhand but its not sold as yet, also until the licence is approved they are limited as to what they can sell. Technically it's still in the ground and not processed as such the value is different until it is. What I don't know, does the existing agreement extend to what is processed or mined hence I say if it's sitting in the stopes it may not be seen as an asset because the true value hasn't been determined.Zoo

[phillis] 01/8/2019 16:41

Z
If you know about this stored gold/silver ore then presumably the auditors do
What value does it have in the balance sheet?