Share Name Share Symbol Market Type Share ISIN Share Description
Griffin Mining LSE:GFM London Ordinary Share BMG319201049 ORD $0.01
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 140.00p 215,697 16:35:18
Bid Price Offer Price High Price Low Price Open Price
138.00p 141.00p 141.50p 139.50p 141.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 93.77 45.07 18.24 7.4 241.5

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Date Time Title Posts
19/7/201816:44GRIFFIN Mining - Chinese Zinc & Gold (Moderated)28,156
20/3/201509:14Griffin Mining: Charts & News etc.152

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Griffin Mining Daily Update: Griffin Mining is listed in the Mining sector of the London Stock Exchange with ticker GFM. The last closing price for Griffin Mining was 140p.
Griffin Mining has a 4 week average price of 121.50p and a 12 week average price of 121.50p.
The 1 year high share price is 162.50p while the 1 year low share price is currently 59.50p.
There are currently 172,512,061 shares in issue and the average daily traded volume is 327,182 shares. The market capitalisation of Griffin Mining is £241,516,885.40.
guitarsolo: Well, I think those of us that have been in GFM from lower, much lower and much much lower prices must have spotted something at the time to have made a good decision! My initial interest was peaked by the declining Zn stocks and rising prices. That has slightly reversed in the last few months which is possibly behind the recent share price weakness. However, in my opinion that should be counter-balanced by the fact that GFM is debt free, should have stockpiled the cash it needs for Zone 2 extension, and therefore SHOULD be in a position to announce a dividend now. Even at these "reduced" zinc prices (now falling below $3000 for the first time in 10 months) the company should be making oodles of cash with nothing else to spend it on other than its shareholders! Yes please, hint hint! Added to that there is a bit more M&A in the mining business as the bigger boys look to use cheap debt to buy up highly profitable smaller mining businesses. GFM fits that bill alright and with a share price that possibly doesn't reflect fair value (nearer 175p imo) there may be a few people taking note. In this regard, the company's extended silences in between updates doesn't help. We could really do with a "heads up" RNS about the H1 results (even it is just to say they are in line with expectations of a debt free mining company). I compare this to another miner I have an investment in, Savannah Resources (SAV), which has far more frequent updates. It's a completely different kettle of fish being a three-project explorer rather than a miner, but there are far more frequent updates from the CEO. UKGeorge, do I recognise you from there as well? Guitarsolo - strumming away waiting for Roger G to give us an update from Bermuda.
mikesnr1: Below see copy of note I sent to Roger Goodwin. It's stilted and fawning to a degree, but I felt I couldn't be rude when so many of us have benefitted handsomely, despite our grievances! Dear Roger, I'm a long term holder in Griffin Mining, as you know. 26th June is AGM. I sometimes have to remind myself that we members of the public account for around 77% of GFMs share total, which surely entitles us to be kept abreast of, and involved in, company events. Unfortunately very few of us are able to attend the meeting; you will understand why. It is generally considered among holders that the paucity of news updates and the like, from our company, are a constant source of disappointment and consequently confused speculation. An upbeat statement of affairs by the board will be most welcome; reassuring holders and possibly buoying up the share price during the period leading up to interim results. These figures are eagerly awaited; likely reflecting a continuing positive thrust in production and management husbandry. The vexed subject of dividends causes much lively debate among shareholders. An enlightening note on dividend policy from the board would be most welcome! I'm looking forward to the issue of a different sort of RNS at close of the meeting: a document giving substantial news of company events, policy and intentions for the future - looks like a very bright one too! Thank you, and the Chairman, and the Board and Management for steering GFM so diligently and successfully, especially during the last eighteen months. We shareholders are most grateful. Kind regards, Michael
rose_by_another_name: Dividends explained for capital gains chasers- You buy a stock because you believe the share price will go up, giving you a profit, whether because of momentum, analysis or potential. That's fine, the price rises and it is time to sell. Who is buying? If the stock yields nothing to holders, only others who think the share price has further to rise will buy. You are ready to sell, so you obviously don't think it has much further to go. You are hoping for a "greater fool". That limits the number of potential buyers, and holds down the potential selling price. A large proportion of investors never buy a share with no yield. So the share price falters at a lower figure than it would attain if it was attractive to yield seekers. Your capital gain is therefore less than it would have been if the company paid dividends, especially if they have a history of never paying even when operating profitably.
mikesnr2: Simply Wall St has provided the following calculations for GFM (158p on 17.05.2018) to arrive at a current value of 314p per share, thus:- DISCOUNTED CASH FLOW (2 STAGE FREE CASH FLOW TO EQUITY) The calculations below outline how an intrinsic value for Griffin Mining is arrived at by discounting future cash flows to their present value. We use analyst's estimates of cash flows going forward 5 years. See our documentation to learn about this calculation. 5 year cash flow forecast 2018 2019 2020 2021 2022 Levered FCF (USD, Millions) $49.10 $39.30 $55.30 $60.28 $65.70 Source Analyst x1 Analyst x1 Analyst x1 Extrapolated @ (9%) Extrapolated @ (9%) Present Value Discounted (@ 9.5%) $44.84 $32.78 $42.12 $41.93 $41.73 Present value of next 5 years cash flows: $203 Terminal Value Terminal Value = FCF2022 × (1 + g) ÷ (Discount Rate – g) Terminal Value = $66 × (1 + 1.49%) ÷ (9.5% – 1.49%) Terminal value based on the Perpetuity Method where growth (g) = 1.49%: $832 Present value of terminal value: $529 Equity Value Equity Value (Total value) = Present value of next 5 years cash flows + terminal value $732 = $203 + $529 Value = Total value / Shares Outstanding ($732 / 172) Discount to Share Price Currency Adjustment (from reporting currency to currency of AIM:GFM Ordinary Shares) Exchange rate USD/GBP = 0.74 Value per share (AIM:GFM) : £3.14 = $4.25 x 0.74 (USD/GBP) Value per share (GBP): £3.14 Current discount (share price of £1.58): 49.87%
polaris: That and the fact that they significantly overpaid ($110M) for the increased equity in May 2012, although they did also get the mine licencse extended until 2037 at the same time. It took the best part of 5-years for the share price to make a new high after the buyout. The price of Zn at the time was around $1850 cf lows of around $800 in 2003 and the high of $4400 in 2006. The fact that the commodity cycle has now turned well in their favour is good, but that can be of no joy to the shareholders who had to suffer 4+ years of poor share price. The 'cows' episode is still just plain bizarre to me. Before that was the Spitfire Oil stake. Phillis has also pointed out some of the options grants have been unusual. However, we hope that all of that is behind GFM and they can go forward and make pots of cash. The directors will no doubt do much better than the PIs but i hope we can all drink from the trough while the times are good! regards, Paul
bunlop: GFM share price on the move up again. However reported volume so far at 131438 is very low. Zinc also making new highs.
bunlop: Zinc price on a run up. GFM share price is starting to move up today. Hope it is not more MM games.
happywanderer: Can anybody tell me where I can find or how to produce an overlay of GFM share price on Zinc price.
roguetreader: Looking at previous company statements, I assume Ninkov is still sitting on 8,000,000 options at 30p, as he hasn't (to my knowledge / research) cashed any of them in yet. I assume he is looking for a higher share price to cash in at so that he feels suitably rewarded for the hard work he has put in that necessitated the issue of the options in 2015 to ensure such a valuable management figure was suitably 'incentivised and retained'. However, just to help him achieve his and the BODs target share price the BOD use shareholders cash to buy back shares to put a bottom under the share price This is obviously good news for all shareholders in the sense that the share price will (hopefully) continue to rise given the current fundamentals of the company, but doesn't deviate from the fact that the BOD continue to treat the ordinary shareholder badly.
bunlop: Lots of zinc will go into the Wall. LME zinc stocks seem to be falling at a faster pace now. Hope every day now for a sharp move up in GFM share price through the 55p resistance but I do question if the licence will ever be forthcoming!
Griffin Mining share price data is direct from the London Stock Exchange
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