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Initial market response has been disappointing for me > a more detailed announcement needed Zinc price clearly a factor
Apart from the zinc price you mean?
No reason now why we shouldn’t rescale the heights of 1.50 now over next 12 months. Then might sell my final chunk. Been a great ride since 7p albeit slow over last few years!!
They started to repay the shareholders , been invested here years, they should now introduce a strong dividend policy over the next decade, at least 20% off revenues should be returned to shareholders from profits it is now clearly generating
GLA LTH watch the BOD reward themeselves first !!!
As I expected no news was / IS GOOD NEWS. Now lets see the shares fly and an announcement about dividends.
It was worth the wait, I am now hoping the share price reacts accordingly.
Been very quiet, so no news is good news for me after covid affected LY 1/4 , I Topped up my ISA on the hope of gr8 news on production, Hopeful I will be exiting this year after a long hard ride, lots of downs, but some nice highs too.
I used to know off the top of my head the multiplier of a change in the zinc price is. I think a 15% drop = c. 65% drop in profit as costs don’t change. Break even is probably only $2,655
Zinc Price - $3500 in Jan 23, $3000 today 14% drop yet the share price has dropped 25% from the same period. Typical AIM reaction in terms of sold being overdone. Also no account for what will be a significant increase in extraction with 12 months v 7 months last year. Just annoying that I could have got in at this price. But def not selling unless something nasty comes out of the woodwork - hopefully not
Risk off and zinc price fall might have something to do with it?
I couldn't resist and bought back 25000 back today
£115,000 or 145,000shares sold v Market cap of £141,000,000 or 185,000,000 is 0.1% of the company shares traded yet the price falls 9% - does not equate
Problem we've got is there's no big hitter to push for a dividend. It's become a thing of legend that companies these days are owned by fund managers, which is not the case for GFM. There no names on board, so no-one to push for the payouts.
Looks like it was 20 years ago that I first invested .. thing I was looking for new and exciting ideas after the dot com boom and shares like GFM, Genus, Shire Pharma, Dana Petroleum all caught my eye (along with a few dogs!!)
I think we are all wondering the same!
It’s a funny share for me .. I got in originally probably 15 years ago at 7p and sold a lot between £1 and £1.50 so it has been a great investment; I hang on because I still thing it is a good company with new licences and mines to exploit going forward
I have no idea but I suspect there's a few paid out options being sold. Having said that it's very low turnover so could just be people seeing what they believe to be a better opportunity and GFM always being jam tomorrow. The zinc price below $3,000 won't help either. We need to see a return to shareholders in the form of a dividend for the price to go substantially higher.
Puzzled by the steady fall in the share price .. would have thought it should be going up at the moment
Sorry meant to say last year was 7 month figures - apologies ( 5 month shut down of operations
It would appear the markets and buyers are gaining confidence by the day that with China relaxing rules around covid and production exceeding expectations in December along with expected revenue increase with 12 month production this year rather than last year's 5 month figures this could well meet Zak's £1.40 estimate. Just need everything to tick along nicely. In a weird way I would rather no communication until next trading update.
The last time someone posted something relating to chart break outs the price went from 70p to 130p+ within a month.
clearing 200 day average; seems to have been a number of buyers lurking in the shadows. looked worrying yesterday, as SP bounced off that 200 day. Downside is the market still doesn't know where it's going, so we can't assume a return to growth in SP.
Somebody seems keen this morning!!