Griffin Mining Share Discussion Threads

[up just a little bit] 26/2/2024 23:53

That rules out the liar then. 5 years is a long time for the old codger.

[sageman] 26/2/2024 20:09

I haven’t given the percentage holdings for the portfolio and have ignored cash. I keep 5 years worth of expenditure in cash (ignoring salary).

[sageman] 26/2/2024 19:59

Over the years a number of posters here have come to know me and that GFM is just a tiny part of my holdings. Most people have some gambles and have the bulk of their portfolio well diversified. For those that are interested I am holding. Aegon high yield bond ( a play on spreads and improving global economy). Artemis Europe (hedged). Fidelity Japan Index . Franklin India. UBS developed Rafi 1000. L&G global tech. L&G pharma. Portfolio at an all time high. A tilt to value here but still with tech. Also a momentum play. Enjoy your share trading (most traders are losing money if they are U.K. centric) but my portfolio is now less than 5% individual shares. DYOR but assuming that most people here have a well diversified core hopefully this is helpful.

PS I was holding gold in an ETF but substituted it for Aegon.

[sageman] 26/2/2024 19:45

Not much we disagree on there mr bee! All the best.

[theapiarist] 26/2/2024 18:40

I'm not sure that we DO disagree, Sage.

Of course I agree with you regarding the ease of moving the share price of a stock which experiences low volume.

Unfortunately, during the last buyback, only 5% of the shares "bought back" appeared on the market.

Had 100% been traded on the market the "leverage" that you so accurately describe would very probably have resulted in a marked effect on the share price And you and I would have been in complete agreement.

We also agree that, for a long time, the performance of the mine has been "exceptional".

It seems that our only point of disagreement is the catalyst for the recent rise.

This rise over the past 6 months could easily be attributed to the fact that 1.5 million tonnes proved to be a reality and not just a dream! and not due to a paltry £4,000/day buyback.

Let us both hope that this time round the full £10 million scheme is directed towards genuine buybacks and not merely used as a fig leaf to cover the purchase of stock held by directors and their pals in off-market deals.

[sageman] 26/2/2024 18:16

Mr Bee, I hear what you say but the performance of the mine has always (shut downs excepted) been exceptional. I gave an example of the foresight sustainable forestry fund tanking on low volume due to no buyers (NAV. Circa 95p & it fell to 60p). When a few buyers arrived it went back to 80p and has fallen back again. All on pitifully thin trading volume. This is the same as GFM which means that share buy backs can made a disproportionate difference. As I doubt you will change your view and arguing is pointless. Let’s just agree to disagree and both cross our fingers for the share price to rise.

[sageman] 26/2/2024 13:28

That is the reason for the ! At the end of my post. However, if we did see some decent volume through the main market it would make a difference. The share price has risen since buybacks despite poor geopolitics and a weak zinc price.

[katsy] 26/2/2024 12:59

It's all about transferring our cash to the directors who want to cash out.

[sageman] 26/2/2024 12:55

Latest buyback = 10m shares over 6 months = circa 80,000 per day. Given the lack of volume here that should be impactful. But I wonder how many will go through the open market?!

[katsy] 26/2/2024 11:57

Arh right on queue. So transparent

Hmm I see the directors want more of our money, no doubt all those free shares awarded to themselves will be exchanged with our cash disguised as a share buy back. Remember the share count has increased by 10m since they first started the buy back programs.

[up just a little bit] 26/2/2024 09:24

I've always said when his fantasy provides so called tips you do the opposite. If you take a look it actually works.

[rose_by_another_name] 26/2/2024 09:02

Sleep it off, alan.

[alangriffbang] 26/2/2024 08:51

yawn you are so boring ,rose have you finished your little book of fantasies part four ,

[theapiarist] 26/2/2024 08:19

Losses on SHG?!

[rose_by_another_name] 26/2/2024 08:02

Or he could make detailed intelligent comments about company
policy in a forum dedicated to just that, whether he holds any
shares or not.

[up just a little bit] 26/2/2024 07:56

The loser who missed 168 appears.

[zooman] 26/2/2024 07:55

Yawn, if you don't like it sell up and go away. You won't be missed, then you can be a bore on SHG moaning about your losses there.

[theapiarist] 25/2/2024 21:45

The latest buyback scheme started on 12th Sept and ended on Friday.

A quick summary:-

Duration: 5 months
Total shares purchased: 472,016
Average buyback/working day: 4330 (£4,000)
Total price paid: £436,066
% of capitalisation: 0.22%

Meanwhile shares purchased from Roger: 1,350,000
Shares purchased from Richard Griffiths: 7,423,628
Shares purchased from Andrew Goffe: 112,500

It could be argued that at 88p, the company got a good deal and had these three individuals placed their stock on the open market the share price would have suffered.

Alternatively, it could be argued that had they distributed the 4.6% that the above purchases represent, in the form of a dividend, the share price might very well require no support.

There are no prizes for guessing which of the above two propositions I favour.

[up just a little bit] 24/2/2024 09:12

He's such a fool. Soooo angry. Still missing the highs has left him bitter and a failure. Just like his "internet friend " who lied about ADVFN.

[theapiarist] 24/2/2024 08:19

Still beating that tired old drum, Zoo.

Now that IS funny.

Not to mention a little sad.