Griffin Mining Takeover Rumours (GFM)

I reckon you're doing the right thing, Phillis. 2023 was the first year of full 1.5 million tonne production. 2023 eps was 8.03 cents or 6.36 p giving a p/e of 23 based on the current price. This is very high when compared to the likes of BHP 16.6 or RIO 9.4 and others. But of course it gets much worse with as much as 3 months lost production for 2024. What are the eps going to be this current year? - perhaps 4.7p. On that basis the current p/e is 31! What keeps the sp of 1.47 levitating at these levels is the question? Current cash balance or the prospect of a takeover? Even if the cash survives the stoppage AND a bidder appears, in the present predicament I don't believe the offer price would be much, if anything, above the current price. Leaving plenty of downside risk - or should I say certainty.

More rubbish Zoo. Just as an aside, I have to ask why you keep quoting SHG? As you well know, I sold my holding of 2.35 million shares after the takeover offer, netting a profit that would have been sufficient to redeem the pawn ticket on your boat. Several times over.

Centamin surges today on takeover offer.