I only became involved in GFM late Oct, anyway going further back in time I see GFM have had spurts of share buybacks and to their credit they ultimately cancel the shares entirely.
Anyway if any of you go to AGM might ask if this is a temporary thing or more permanent? Are they defending a SP, maybe £1.50p? or are BoD just bored of chucking fistfuls of dollars at each other haha
Still if they do a couple more clips of 25k this month, that's roughly 200k per month, 2.4mm a year - 1.3% of shares outstanding, not mind blowing amount but nice to have going on in the background no?
Not sure why last couple of purchases as volume very low - not enough to support share price and insignificant if cancelled in terms of shareholder value. However, Shares not cancelled as in previous buyback so only possible reason i can see is for share option scheme for BOD . Any other views?
How utterly inconsiderate berthing his little boat in your spot causing you totally unnecessary stress and embarrassment . I hope you told him I need no uncertain terms that Tottenham are now the number one London team. I know Roger et al will privately give you the real heads up of where the company is heading - nudge nudge, wink wink, say no more, say no more.
Fair comment on miners generally but we all know GFFM does not now fit the 'norm' as there can be few established mining companies who are totally debt free, generating significant surpluses, have spare capacity ready to expand up to double and the potential of a new licence to facilitate such. There are really only two major risks, commodity prices (esp zinc) plummeting and , heaven forbid, a major mining accident.
Without a licence announcement we are probably in a trading range between £1.45 and £1.65 from now until interims in July.
Strategy and Outlook
After two strong years, investors that have not been exposed to mining may now be questioning if they have missed the opportunity. We are, however, still a long way below the peak in 2011 and the sector continues to trade at a valuation discount to broader equity markets. Meanwhile, the miners are trading on very attractive cash flow multiples with Glencore, BHP Billiton and Rio Tinto all currently trading at forward free cash flow yields of around 10%, for example. For the mined commodities, in most cases, we believe they look reasonably fairly priced and so our base case is that they remain relatively range-bound at current levels which sees healthy profitability for the sector. Crucially, however, mining equities are still pricing in commodity prices well below current spot prices and, as such, we are constructive on the shares but neutral the commodities themselves. Many still distrust the miners, expecting them to make the same mistakes of the past in terms of poor capital discipline. Our view though is that the pain of the recent down-cycle is still too fresh in the minds of management teams for this to become a widespread issue in the near-term. We have begun to see moderate increases in sustaining capex announced but we believe for the most part these have been necessary increases rather than indicative of a widespread return to poor capital discipline.
All data points are in GBP terms unless stated otherwise.
Greetings Fellow Posters & Shareholders
Sorry for the delay but you would never believe that the internet connection on my Super Yacht " Roaring Dragon " has been down for the past few days, as I currently steam towards Bermuda for the AGM what lengths I go to for you guys is unbelieveable , all donations in a brown envelope greatly appreciated
Now heading in the direction of Bermuda however at my last stop over I was not best pleaesd as some Russian guy (who I had never heard of ) I understand he owns Chelsea FC had taken the prime berth extremely anoying but these are the sort of problems I incure on a daily basis
Hansen. Well I for one sincerely hope they do not divert surplus funds to long term project investment as at age 62 I want decent dividends in return for my many many years holding - and I'm sure there are many other lth's in the same mindset.
My gut feel is that the licence approval could eventually be tied in with an obligation to develop mining facilities at Shitouhulun/Sangongdi.
It could be the best of all options for the Chinese - more volume/employment/tax take off the Zone 2 volume hike and investment in new mining operations.
Perhaps there's sufficient cash flow to keep all parties happy including shareholders?
Sage - a reasonable theory. as I have said before wider licence means more guaranteed tax income to the chinese authorities, plus more employment with related local benefits. GFM board have already intimated the mine facility is now capable of almost doubling throughout, which will only incur 'marginal' costs and thus a significant increase in the bottom line eps. There was no obvious logic to recent share purchases unless perhaps, just perhaps, the company believe they are VERY cheap at this level. We are only a couple of months away from the interim half year accounts all at zero debt level so IF the licence is awarded within that timescale then we really will be at the level of share price you and I have ' mooted ' since last November. At least my prediction of no dividend with year end results proved correct but if you are correct re licence being imminent then July update should be enlightening on the three key fronts of (1) net profit for first 6 months, (2) revised projections on production volumes and related earnings and margins AND (3) interim dividend and future dividend policy. Interesting times indeed !!!!
I have long held the view that in all commercial dealings money talks and whilst GFM were indebted there would be no license. GFM are now a cash cow and able to legitimately pursue the license in a transparent manner that would be in every one's interests for the authorities to agree. (I didn't mention cows!!!). I expect news sooner rather than later but haven't heard anything...
CD. Apologies the headmaster has taken an 8 day cruise to the fjords of Norway so has been incommunicado on purpose. As this was during term time and you have already written your lines I have decided to overlook your poor English and waive your Saturday morning detention. Your school report will however include the usual phrase of ' must try harder' to ensure proper record. Lol
I think they must have been bored..... 25,000 is about £40k. They ought to have something better to do. As the share price has stagnated, it would seem that everyone thinks (a) it is about right (b) it might be cheap but no one has any info to reach that conclusion (or (c) they don't care). I think I'm happy to assume that they think the shares are cheap as they have bought a tiny amount, only they know how we are doing with the licence. It would have been better if they had bought a lot at 60 or 70p if they had some spare cash then. Well spotted though. SL
The BOD of " Dragon Enterprises " herby announces that the recent rumours that their Chaiman CD has diposed of his holding in GFM are completly unfounded
CD Chairman Tea Boy & General Dogsbody Of Dragon Enterprises
CD you have done what everyone dreams of when they put £20,000 in to their ISA. Your Investment has gone up circa 50 fold and depending on your exact holding you are now a Griffin millionaire. Well done - RESPECT!
Yes felling very SMUG however it all boils down to luck bumping into the previous GFM chairman but what a result I have had bought the majority @ 3.5p now £1.60 never sold any so I am a happy chappy , not really sure where the GFM ride will finish up , I bet the GFM BOD are a happy bunch with all there optioons @ 0.30p
Alas not a problem I share.....but if I did I would be selling in reasonable sized tranches. At those kind of volumes your selling costs won't make such a difference (i.e. if you get hit with say 10x£10 to sell in 10 tranches as opposed to 2x£10 to sell twice).
More tranches will also even out the price you get - note what has happened over the last few days. Going all in on one day risks missing out on a rise (or benefiting from missing a fall I suppose).
Whatever, with the price at an all time high (whatever your purchase price) you'll be banking a very nice profit so congratulations.
GFM Griffin Mining following through from yesterday and making new highs. Note on the chart the increase in volume over the last 10/11 days. More in this according to broker Cantor who have a present SP target of 190p
Another great day for holders of this stock. I must confess that I am feeling unattractively smug (not as smug as CD with his 600,000 shares). I said a number of years ago that 2018 would be the year for GFM and indeed it is the year of the Griffin. The only stock rated 100 out of 100 on Stockopedia. Not a ramping outfit , a respect independent research establishment. If zinc holds up and the license comes through the re-rated figure could easily be surpassed especially with a dividend in August. The good news is not yet in the price. Under £1.60 this remains a strong buy.
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