Griffin Mining Share Discussion Threads

[sageman] 12/5/2024 11:07

Hi Rose, I get your point but I think it was more to do with the £1.50 price point being a psychological sell point for a number of PI’s especially as results approach. My observations with other shares (especially small caps that are often illiquid) is that buybacks are supportive. Happy to agree to disagree.

[ringostar] 12/5/2024 10:46

For what it is worth, I do not think that buybacks can be negative. They must underpin the share price. Of course a dividend would increase investor holdings .Be nice!!!

[rose_by_another_name] 12/5/2024 10:41

You must have noticed, Sage, that the rocketing share price
was halted in its tracks by the recent spate of buy-backs.
The timing is incontrovertible. Previous bobbles in the
rise recovered unassisted and undeterred by buy-backs.

The rise came in the absence of buy-backs and stopped dead
when they resumed. I dispute that they inspire confidence,
and aver that they merely serve as a reminder that the
board is self serving and has no intention of instituting
dividends.

I'm glad that we can disagree without rancorous dialogue.

[sageman] 12/5/2024 10:24

Rose, I do not understand your negativity where buybacks are concerned. This has historically been an illiquid stock. The sheer presence of an active buyer creates confidence. Do you genuinely believe that stocks rise in the absence of buyers? The share price has doubled from its low and is up circa 50% this year. You say that the share price has stalled since buybacks. In contrast I would say that profit taking was inevitable at which point the share price would typically fall back. In contrast the share price remains close to its highs. Yes a better geopolitical environment and strong production and commodity prices (hence rise). But how can buying be a negative? Surely the buy backs have served to support the share price We had a day with huge volume and at one point the share price fell intraday to circa 145. Along came the buybacks late pm and the share price finished over 150.

[sageman] 12/5/2024 10:08

Mr Bee, I guess we will have to disagree. The extended license cost several millions last time and we did not extend it 13 years prior to expiry. With the geopolitics I want the BOD to extract as much cash as possible. In 5 years time there would still be ample time to extend by which time the world could be a different place. Imagine paying x million to extend the license and then the Chinese invade Taiwan. Better to maximise production and cashflow to benefit from our existing infrastructure. Just my view. GLA PS I am not sure that down ticking genuine posts about GFM is behaviour that anyone should be proud of!

[rose_by_another_name] 12/5/2024 08:43

There have been many of the ineffectual buybacks that
you champion, zoo. Clearly a failed policy carried out
for reasons other than rewarding owners of the company
or supporting the share price, neither of which has
resulted.

[rose_by_another_name] 12/5/2024 08:39

I doubt that you actually find humour in anything, zoo.

My advocacy of a dividend policy is based on the belief
that is would be beneficial to the share price, bringing
in a whole section of investors who are not interested
in a share that does not provide a return. Your dislike
of this advocacy is based entirely on your personal
vendetta against me and others on you enemies list.

Yes, we know you "don't care" and are "only poking".

[zooman] 12/5/2024 08:08

Alan, have a good day, storms coming in over the next few days so make the most of it.

[zooman] 12/5/2024 08:07

Rose, there has only been one divided and that came about because the company decided to make it not because they were told to make it. .You sound so desperate for one it's funny.

[zooman] 12/5/2024 08:05

If you cant see the point there's no point in trying to explain it to you old man.

[theapiarist] 12/5/2024 07:42

"bellyachers"?

It's a discussion about GFM on a GFM board, Alan.

Enjoy the Barbecuez.

[alangriffbang] 12/5/2024 07:04

zoo good morning no swim although the weather is perfect ,we are at the cafe soon then all off to our friends with the Marquez for a barbecue ,I fail to see what a dividend would do here I would rather see a move on the share price ,my late wife’s portfolio is still rising along with the stock market ,you have a good day in the sun and leave the bellyachers on here,

[theapiarist] 12/5/2024 07:02

I'm not sure I understand the points you are attempting to make in either of your paragraphs, Zoo.

Firstly, how is SHG being taken over relevant to a discussion on GFM's licence?

Secondly, what is the relevance of people "whining" about dividends?

[rose_by_another_name] 11/5/2024 23:44

Dividends themselves would do some good. Talking about them
does no harm. It is the buybacks that have demonstrated their
worthlessness all this week. The only way to make money on
this share is to sell. That's not attractive to many investors,
including people you want to sell to. So far the board has
done a good job for themselves, but not for the people who
own the company.

[zooman] 11/5/2024 23:10

Look at SHG now suspended and the naive people on that BB. Redhill for one. Companies may have a responsibility for succession planning, doesn't mean they'll do it. Again look at the whining on here about dividends, has that helped? Err no.The BoD will do what's good for them and I for one wish them good luck they've done a sterling job. Myself and others have made good money and I believe there may be more to come. Happy days.

[theapiarist] 11/5/2024 21:57

Yes I'm here, Alan. Why is that worrying?

We too are having glorious weather. Been out all day. Had a quick bite to eat at 6 then out again. Back about half an hour ago. Probably be the same tomorrow.

Hope to catch a glimpse of the aurora later tonight.

[alangriffbang] 11/5/2024 21:47

zoo I’ve been out all day with my friends the weather has been glorious ,I didn’t get much from my rich friend he’s none the wiser than both of you ,like sage he’s offloaded a lot but still holds a lot ,no swim in the morning I’m too knackered ,the old lady has settled in the home very well and has made friends with people ,she’s agreed to sell her property plus two flats she rents out of course I will lose where I stay and parking spaces, where have all the tick downs come from the a is the only one here it’s very worrying ,hope you had a good time on the boat, good luck,

[theapiarist] 11/5/2024 21:40

Responsible management plans for succession. Whether that succession involves the promotion of new board members to take over the helm or the sale of the company to a third party.

They have a responsibility, to leave the company in as good a shape as possible before handing over the reins. Part of that planning must surely involve mitigating the risk of the licence expiring whilst the great majority of the assets are locked up in the ground.

If the board want to sell the company and clear off, that's fine. But it's in their own financial interest that they be able to convince potential buyers that the future is secure.

How much would it cost to start the application process? Not much in the overall scheme of things, I would suggest.

[zooman] 11/5/2024 20:09

Indeed Sage. The BoD I believe have done a sterling job and many of us have made good money and are making yet more. .The BoD aren't getting any younger, yet"THE" states thirteen years isn't long. Given the BoD general ages it is..Work the mine take the profit then sell what's left with the sweetener of expansion. If you look at the sells verses buy's over the last few weeks there's a story building there..Zoo

[theapiarist] 11/5/2024 18:22

Indeed, Sage. But thirteen years is not a long time. Particularly for western companies dealing with Chinese bureaucracy!

Getting the process started now doesn't preclude them doing all those things that you advocate. The two things are not mutually exclusive.

[sageman] 11/5/2024 16:19

Mr Bee from memory we have the license until 2037. Given the geopolitical risks I would not start looking to extend for at least another 5 years. In the meantime use it as a cash cow, drill the max out of it. Then dividends/sell the lot or whatever to max shareholder value.

[theapiarist] 10/5/2024 19:37

tygwyg

Sorry not to respond sooner but have just got back.

Re your:-

"mining licence will be renewed when renewal is required and not before".

Is this a quote from the company? If so, it is a very shortsighted approach.

As you know, the licence only runs for a further 13 years and the bureaucratic process in China proceeds at a glacial pace.

Moves to extend the licence, IMHO, should start now. Leaving things to the last minute leaves the company vulnerable and with the potential of being held over a barrel.

PS

Alan's reflexive response comes with the rations. Everyone with whom I hold a conversation gets it. No matter the topic or site.

[phillis] 10/5/2024 15:19

Sold 9k and 10k
Neither showing yet
Wonder why

Edit
O Trades

[up just a little bit] 10/5/2024 14:43

Well bully for you.