Griffin Mining Share Discussion Threads

[gailes5] 17/3/2021 08:51

Alan is now moaning and groaning about posts he can’t even read! We, on the other hand get the usual stuff about his walk etc, his Aussie share, the name of which he seems to have forgotten and so on. He doesn’t seem to understand by filtering so many posters that the general feeling towards him has turned negative and that the latest discussion was not in the slightest confrontational and I thought a very good exchange of differing views. Perhaps Zoo could explain to him?

[rose_by_another_name] 17/3/2021 08:41

Griffin doesn't even own the 88.8% of Hebei Hua
Ao directly. That is owned by Griffin's Hong
Kong registered holding company China Zinc Ltd.

Director Adam Usdan held 33,242,890 shares in
Griffin at December 31, 2019.

[up just a little bit] 17/3/2021 08:35

Alan, maybe when you say nothing from Griffin you should note that there is another RNS.

[up just a little bit] 17/3/2021 08:33

Alan it's called share holders chatting about many different things. If you don't like it then off you scurry down to the seafront for a good airing.

[alangriffbang] 17/3/2021 08:32

zoo paddygall says GGP brokers have put out a hold on the shares this would explain why it’s not moving ,not good in my opinion , jam tomorrow stuff, not a good start for me again zinc is down and my Australian miner is also down, and as usual nothing from GFM , keep smiling it will happen one day,

[gailes5] 17/3/2021 07:50

And there is 25%in private hands whatever that means. Griffiths, Usan Bolt, who is the 3rd?

[phillis] 17/3/2021 07:43

There are three large shareholders who own less than 50 %

[rose_by_another_name] 17/3/2021 07:14

Extreme, yes. I put it out there as a possible
alternative scenario to a buyout of Griffin,
which others have speculated about. I have been
watching Tullow dispose of assets in their
efforts to reduce debt and outgoings, and it
seems they can do so without a shareholder
vote. Maybe there would be a lawsuit, but in
what jurisdiction? China? Bermuda?

[gailes5] 17/3/2021 03:39

Selling the mine only leaves the company a cash rich shell but effective control would still rest with the2 large shareholders. While we don’t know what their stance would be Griffiths for one seems unlikely to follow the course you envisage. We shareholders would be completely against such a move and although in a minority would have some influence. As I have said several times I have little trust in BOD but your suggestion seems a bit extreme even for them. Food for thought!

[rose_by_another_name] 16/3/2021 22:59

What I am saying is that they will
do what they always have. Why would
they sell the mine? To keep control of
the gravy train. You postulate a takeover,
which would put them off the train. Selling
the mine would protect them from a
takeover of Griffin and leave them in
control of the funds. You keep pointing
out that the private shareholders are
a minority without power.

[zooman] 16/3/2021 22:58

Sorry meant to add for what purpose would they do that? Your reasoning about selling and buying to keep the gravy train going is daft when they have a fully functioning mine making profits. :-)))

[rose_by_another_name] 16/3/2021 22:57

"Face masks in the classroom are causing
physical harm to children, ministers have
been warned amid reports of breathing
difficulties, headaches and dizziness."

"Boris Johnson was told in a letter from the
MPs that it is “just not good enough” to impose
the measure on millions of secondary pupils
given that the evidence that it will help
prevent the spread of coronavirus is “pretty
thin”."

[zooman] 16/3/2021 22:53

Rose you are just talking nonsence. What you are suggesting is they screw the shareholders.

[rose_by_another_name] 16/3/2021 22:53

What do they do next? They do what they did
when they were last flush with cash. They
say that rather than pay dividends they are
going to expand into other projects. They
bought Spitfire and then failed to buy two
other mines before falling back to pay way
over the odds for part of the junior partner
interest in Hebei Hua Ao. Anything but return
value to the shareholders.

[gailes5] 16/3/2021 22:43

Rose, don’t follow your logic. If they sold their 80 odd % the company, is stuffed full of cash with no other asset. What do they do next? We as effective minority shareholders cannot be totally ignored and I don’t see what end game you envisage.

[rose_by_another_name] 16/3/2021 22:43

We talk about Griffin finally getting the
licence for zone II, but did they? I think
the licence was likely granted to the
mining company subsidiary, Hebei Hua Ao,
not to Griffin the holding company.

[rose_by_another_name] 16/3/2021 22:36

Obviously I was talking about Griffin selling
their holding in the mining company. In fact
I said so explicitly. I do see the directors
selling, and keeping the money in the company
rather than distributing it to shareholders.
If Griffin itself was taken over, shareholders
would get paid, but not necessarily if Griffin
just sold off their only real asset. The BOD
could then just say they were going to invest
it in another project, and keep their gravy
train going.

[alangriffbang] 16/3/2021 21:45

sage zoo, then we will all have to sit tight and go with the flow ,I won’t be buying any more as I have a large holding now, my team got beaten yet again tonight at Peterborough with an own goal that’s all it took ,let’s hope tomorrow will be a good day, it did start well today then gradually faded, good luck,

[zooman] 16/3/2021 21:36

How could someone buy the other company when Griffin owns 88 percent? Either Griffin would need to sell or someone buys Griffin and I don't see Griffin selling.Zoo

[sageman] 16/3/2021 21:35

Hi Alan, I would guess that you have never been in sales? A major mistake is being cheap. People don’t want cheap they want value for money. In fact reassuringly expensive works well. Fast forward to shares and you will find that the bulk of investors are in the middle. They look for good value not dirt cheap.

[zooman] 16/3/2021 21:32

Alan, seven years to get the licence, the share price was at the upper twenties. If it had been at that price with the licence I think the conversation would be a different to what is being had now.We're now in a position that requires updates but for the company to provide them they have to have them meaning production figures hence on or around the 14th April unless the BOD decide to stop the quarterly's we should have them.Zoo

[alangriffbang] 16/3/2021 21:11

thank you sage ,I’m not happy with the share buybacks it’s a mess and is not doing a thing for the price, I’ve held other similar shares that have behaved in the same way, we did start to get more updates this is the reason I got so many but this seems to have dried up ,nobody was interested in the company when it was at a very low price so I can’t understand why they would want it now hope you are well,

[sageman] 16/3/2021 21:02

Rose you are splitting hairs but I do not disagree.Zoo you are right which is what I pairs this buyback in term of share price support. As I said we need the numbers “ show me the money”. Once this happens things will get clearer. However, if you believe zinc will rise or be stable GFM is a buy at this level

[zooman] 16/3/2021 20:59

Because it helps them with business in the west. China is craving a bigger footing and this is just one aspect.