Griffin Mining Share Discussion Threads

[alangriffbang] 20/2/2021 11:54

Millwallfan I’ve traded for over sixty years and have only timed it correct once, it’s nearly impossible , I was also given PRE by a friend but it was another one that got away,

[millwallfan] 20/2/2021 10:35

Sage. Yes agree on Lloyd’s the NAV will surely prevail as we upturn the economy so will probably be one of the last of my sales if indeed I don’t just keep taking dividends and leave the to the children. I agree with AMT about difficulty in selling at the top, always thinking there’s more to come or selling too early into the rise - as I did a few years ago with GW pharma, sold at £1.20 for just 100% profit and look what happened then 😂. I’ve got the same dilemma now with JLP. I’ve been a holder for donkeys years since con roast and Tjate discovery. I hold at under 4p average, they now 16p but lots of investors seem so positive on their business plan taking them to 40-50 or even £1. I will deffo top slice somewhere between 20 and 25. Similarly AGL, I’m in at under 60p but their own top man AN is reported to have said the major investors are looking for £8 ! The all critical FDA decision is due within weeks. (Worthy some research quickly if not on your radar). E mail exchange earlier this week with our old friend CD and he is fine.
Keep safe and well.

[alangriffbang] 20/2/2021 09:45

zoo zinc up again yesterday surely this must rise on Monday,

[alangriffbang] 20/2/2021 09:41

No sage the stroke was nov 2015 and she died August 2017, I have very good solicitors in London who look after me very well and also my bank is very good I find the bank and the solicitors liaison with each other, I tend to leave everything to them ,I also have bonds as well, and I’ve had tax advice , I never knew it was so hard to give money away, you are in a very different ballgame your younger and like most people here have a family, if I had a family I certainly wouldn’t be going down this road, happy investing,

[sageman] 20/2/2021 09:29

Alan did your wife pass away within the last 2 years? If so you can use a deed of variation so that money does not come to your estate. Remember that gifts to charities are exempt IHT as are shares in Aim companies if held for 2 years. Otherwise the 7 year clock applies to gifts in terms of IHT. You probably need specialist tax advice.

[alangriffbang] 20/2/2021 09:02

TinnsnBF thank you for your post I only keep check on a few of my portfolio ,I maybe 82 years old and need for nothing but I am still a gambler that will never leave me ,when my wife died it left me without a single living relative and when the probate was completed it was then it dawned on me how well off I really was and I can tell you it was a shock, I will work on her portfolio soon and distribute it to friends and two charities then I will feel a lot more comfortable with life ,good luck to you, and be happy,

[amt] 20/2/2021 08:13

I find buying shares the easy part although my recent purchase of Griffin are in loss It's knowing when to sell that's difficult. I bought TRD in the 20's & 30's it went to £1.70. I held on it then fell to 65p,I sold 1/2. It went back up to £1.70 this time I sold half of my remaining shares. Now it's back to £1.15.
I also sold a chunk of GGP at 3.5p. However I sold out completely in the upper 20's and low 30's. But selling at 3.5p I lost a lot of upside. I tend not to take any risk though.
It's difficult to find bargain shares now.
I bought a few more Tandem recently at £5.30. £39m turnover, £7m of cash and EPS over 60p yet on a pe ratio of about 7 if you allow for the cash. No debt. They are probably the leading bike wholesaler in the UK also sports and toys.Business is booming.
If everyone stays in UK this year and the bike market keeps growing they could make 90 to 100p so would be extremely cheap. The risk is procuring enough supply. Anyway it might be of interest but do your own research as I might be completely wrong.

[sageman] 19/2/2021 23:12

Hi MWF, I am ok on Tullow. Traded it & now have 150,000 shares at 3p B/E. Am holding for RBL. I have similarly traded Lloyds but only just above B/E. There was one interesting sentence in NWB results today. They made a loss due to provision for bad debt BUT then went on to say that actual bad debt had been a fraction of what was anticipated....hmmm. If the same applies to other banks and the economy recovers on vaccines the banking sector could fly on dividends and re-rates later in the year. NAV for Lloyds is north of 60p and results are next week. I think you will be back in profit some time this year..fingers crossed my old friend.

[tinnsnbf] 19/2/2021 23:04

Wow Alan, 49 different shares, how do you keep up with them all?! I struggle to keep up with just the 9 in my small portfolio and deciding what to do next. I've just received a nice bonus from work so looking for some new companies to try out. Been keeping my eye on GUN and GGP but not sure about them yet. Very happy where GFM are now but strange day with the swing and drop but I guess MMs are playing games and people taking profits. Stay safe all and enjoy the weekend, I'm hoping the weather gets better because it's doing my head in staying in, it's bad enough having worked from home in the last year, I feel a little trapped lately.

[millwallfan] 19/2/2021 22:59

Might be wrong Alan but it might have been me who first suggested pre when I said it had been given to me from a very good source at just over 30p. I only had a small punt and so am happy just to leave them until the UK plant is operational. I am eagerly awaiting AGL FDA decision and my decent holding in JLP and a bit more here before I start cashing in my portfolio winners to cash pile. I will probably keep my 120,000 Lloyds as still 33% underwater and not sure what to do with Tw. Keep safe and well.

[alangriffbang] 19/2/2021 22:13

hi zoo I had forgotten about pre it was given to me as a tip but you already knew about it ,I’ve had to ring two of my friends in there nineties who have no computers or even mobile phones just land lines, it has worn me out and made me feel low but I must keep it going as they have been my friends for decades, they actually still write letters to people, let’s hope next week is good for us ,good luck,

[alangriffbang] 19/2/2021 21:41

good post millwallfan ,I may have sold my London home and given the money away but I have an even bigger problem it’s my late wife’s portfolio there is a pile of blue chip shares totalling seven figures she was a fantastic investor she never took any chances and when she had the stroke I found out all this she had a different broker to me ,just two shares for instance were 11000 BATS and 1100 Astra Zenica , I sometimes lay awake at night and think what he hell can I do, I need for nothing and I can’t turn the clock back, you enjoy everything you can now ,good luck to you,

[antonagis] 19/2/2021 20:53

Weird 12p swing here today.

[dgellissnr] 19/2/2021 20:48

Like your post millwallfan A funny end to the week with the sp

[millwallfan] 19/2/2021 20:35

Sage. You and I have for many years extolled the fundamentals of GFM making it clear that the two critical components were PoZ and the issue of the licence. We had clearly mooted a potential of £2 per share and, although it has taken longer than we ever expected, the key pieces of the jigsaw are finally in place. Barring the disaster of a mine accident (heaven forbid) or PoZ (and indeed now the increasing role of POG) taking a dive then I am in no doubt that this time next year £2 will be achieved or exceeded.
Also for many years I have raised the risk of an MBO with the 3 or 4 main shareholders taking the company private OR a takeover bid from another company. This has been raised again today BUT IF that was really likely given the fundamentals and potential has been very clear (£1.60 plus in 2018) it would have happened when the share was 30p last spring when something like 60p had a chance of success and IMHO an MBO is actually now less likely than ever as probably so is a hostile bid which would now have to be at least £2.50. I like many others first purchased at 3p but sold a lot of my shares just under £1 having missed the £1.60 peak but still hold 20,000 as a token of my (now proven) faith. The BoD have my whole hearted congratulations and support for steering Griffin through the many tough times and getting us to where we are today. Finally to the family of Rupert Crowe whose vision and belief was critical.RIP.

[zooman] 19/2/2021 19:22

Sage, I think we shall all do well especially those of us that bought in low again. As you say look at the age of the board members, personally I'm hoping for a buy out. Time will tell. Zoo

[sageman] 19/2/2021 18:46

Zinc hit levels today not seen in nearly 2 years and to my non expert eyes the chart bears many similarities to the action leading up to the 2018 ( zinc). The difference is this time we are debt free and can drill the deck out of it. Also in the past a clause in our borrowing facility was that we could not pay a dividend until the debt was cleared. Back then GFM were cautious having been in debt and needing to fund the mine upgrade. Fast forward to 2021 with no debt, license and the upgrade largely done. Happy days. The BOD will always communicate poorly and we will always be at the mercy of Chinese patience. However, we have very few shares in circulation and our free cashflow is about to rise substantially. Lots of choices including selling out ( look at age of board members), buybacks and dividends. Either way it’s a great time to hold GFM and I am happy Alan that you took my advice at 50 p as opposed to your brokers.

[zooman] 19/2/2021 18:22

Alan gosh 49 haha.. I was going to sell PRE today but decided not to given the lift today. I hope I don't regret it. Zoo

[alangriffbang] 19/2/2021 18:06

zoo ARP could have been worse a few shares have gone up a tad but really very little happening I hope we get some good news next week on something, I’m desperate to get out have a coffee and a meal every day, I feel I’m losing my life at this rate , I hope on Monday we are given a little bit of freedom , will look at RMM if I buy some I will be invested in forty nine different shares which is too many, good luck,

[arphillips] 19/2/2021 14:25

There's also RMM after their placing this week which should be good recovery play with the strong copper price.

[rose_by_another_name] 19/2/2021 14:12

CCZ is a low-ball copper play, with a mine
and exploration tenement in OZ.

[arphillips] 19/2/2021 13:58

A - Yes, my gold mining shares have slipped recently in line with POG. Seen good profits gradually eroded. The price of copper is current really strong on the back of expected usage in electric vehicles plus strengthening economy so I've have now switched some funds into copper plays (CAML, ATYM, JLP, XTR}.

[alangriffbang] 19/2/2021 13:34

hi zoo ARP I have two isa’s plus a lot more out of an ISA ,I’ve always said I’d be happy for it to be taken over mainly because we never got any news this has changed and we are updated often which reflects on the share movement, I hope now it goes on to 200p as you say zinc is rising ,it’s GGP I want to see uplifted it’s tried and failed miserably again today, SHA is as bad I’ve got more hope with GUN long term ,have been stuck indoors and I hate it , looks like tomorrow is as bad, good luck to both of you ,

[zooman] 19/2/2021 13:14

ARP, the only fly in the ointment as I see it would be the Chinese making it difficult if they didn't like the bidder. So if it were to happen lets hope its a Chinese company. As you say it would be the best exit plan, I'm sire there have been conversations surrounding it as well. Six / seven years of waiting then bang they get the licence, not complaining though.Zoo

[arphillips] 19/2/2021 13:08

Z - It would certainly give the largest individual shareholders the best possible exit.