Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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It must be, or where they NOT certain they could remove funds and it was a trial?
Whilst they have failed to respond to my email, they have taken action with 15million dollars transfer today which by all accounts went smoothly.
It was interesting they referenced investors concerns in the release now we would like an indicator of when dividends will start to be paid.
I still believe this is massively undervalued and whilst I promised my wife not to reinvest our retirement nest egg !?
Just poted today, $15m USD in dividend posted to a western bank. Is this to be redistributed? worth about 8p/share.Could it be true?
The figures for me fine following closure and prep work on new zone. Having been invested here since the start this statement reads like many before as a flat dampener. They normally have these statements before more bullish statements which is why we have so many peaks and troughs on share price.
The dividend issue still a cloud that CEO needs to address head on in his NEXT STATEMENT.
Nothing to see here. Move along. Wish I'd sold a looooong time ago.
CEO seems happy enough, but still no sign of a DIVIDEND!!!, which is disappointing ,
GLA LTH Maybe they will bring it up at the next results update???
Figures not great today
Can't help I'm afraid opu. Been a holder since I were a lad and just popped to the BB for a rare visit in hope of some insight or development: in absence of either will continue to hold, take profit in due course, get back in, take profit again, all based on vagaries of the seemingly random movements of the SP and with little regard to economic orthodoxy. You have to agree the strategy has been pretty consistently inconsistent over the last 10+years (or is it 20+ now).
Very inscrutable, as befits such an enterprise! ATB to ALTHs.
Not at a dickie bird
Any response from OUR company?
In answer to my own question!
I have asked contacted Griffin with two specific questions
1. Do they have a problem paying share dividends (as this is spooking market)
2. Why no further share buy backs ?(after buying back at much higher prices)
I await a response!! In hope rather than expectation
What am I missing?
Only thought is market concerned over dividend payments?
Does anyone Know Why???? they wont commit to paying a Dividend, they have enough cash and are mining ahead and building revenues, know should be the time to start paying some Divis out to those shareholders who have been involved with GFM since they broke the first Sod of Grass many moons ago,
GLA LTH
Thats one of the Major problems here, we have been promised a Dividend for years, keeping the carrot dangling is losing its lustre,
GLA LTH I just think they want to keep the cash in Country, will we ever see a return other than rises and falls in the Sp that can be traded?
Ummmm. Very pleasing comments from the Chairman which is welcome.
Record production but slightly disappointing metal sales, particularly gold. On the premis that the gold and lead prices have been transposed the revenue will be $3.3m less than my forecast. My EPS forecast s/be c not $ and revised to 5.2 and 4.83c. Annually this could be 19.3c and 17.9c (14.9p) but I hesitate due to waiting to see cost of production and admin costs in the interims. A p/e of less than 6 and even lower when deducting the net cash.
Morning all. Welcome to the start of H2 for GFM. No news but they'll be plenty to chew on in the next 6 weeks.
With the 3 month shut down it's harder than ever to guess H1 results. FWIW here mine:-
Ore processed 293,649 tonnes
Zinc sales 13,790 @ $2,917 = $40.2m
Gold sales 6,212 @ $1,692 = $10.5m
Silver sales 94,339 @ $19.5 = $1.8m
Lead sales 387 @ $2,187 = $0.8m
Missing revenue ($3.0m)
Total Revenue $50.4m
COS / Tonne $65.10
COS ($19.1m)
Gross Profit $31.3m
Admin Costs ($11.3m)
Other Costs ($0.2m)
PBT $19.8m
Tax ($6.6m)
Net profit $13.2m
EPS $7.56
diluted EPS $7.01
Obviously the zinc price is a long way below this currently but 3 months extra production in H2 and an extra $10m+ in the bank means the future looks very bright IMO.
Make your own minds up.
In the absence of any trades let alone news:-
In the next two months we should have:-
Zone II commence operations (not overly hopeful considering 1st July is a week away).
Q2 production and revenues on excellent zinc and gold prices - giving an indication of current run rate production
AGM in Bermuda without small shareholder accessability (probably no trading update)
H1 accounts giving an indication of current COS / tonne and annual overheads. Later in the day last year we have a tele conference which would be fantastic to repeat
And later in the year a dividend policy (won't hold my breath for that).
Just a reminder of the Chairman's comments with the 2021 results:-
"This bodes very well for the future results of the Company when Zone II is commissioned and in full production. Since the grant of the new mining licence over Zone II in January 2021, the Company has been working continuously and tirelessly on obtaining approval for the design and development of Zone II. That approval is expected shortly and drive development is planned to begin on the 1st July 2022. In the interim, the first drill platform for resource drilling at Zone II was constructed in September 2021 and diamond drilling commenced in early October 2021."
And further in the accounts:-
"Whilst the Directors do not recommend the payment of
a dividend at this time, the Directors have discussed and
will further consider a dividend policy later this year when
current political, social and economic circumstances permit
enabling such a policy to be instituted and executed over a
consistent, long term basis."
I'm guessing the urgent need to prop up the Chinese economy; still badly hit by Covid and influential parties urging the Chinese govt to intervene. We're forever in interesting times these days...
I don’t think the sky has fallen in, why the sudden fall and transactions? Anyone know.
Drilling campaign and need to get the new zones open and producing before the big pay day
Splendid results out & the market should react more next week after a few mentions in papers hopefully. £1 - 50 upwards will be most welcome. On GFM broker ratings, this reiteration bodes well.
09-May-22 Berenberg Bank Buy - 175.00 Reiteration
Gold seems to be good for bottom fishing & Seribi Gold had a mention in CITYA.M. today with Peel Hunt revealing they have had a boost to their monthly output at their Palito operation in Brazil & it's April gold production level has marked the best month so far this year. Their target price is still above £1; being £1 - 10.
Not leaving too much cash in here for another 3-4 months will put where it will pick up some revenue in the form of a dividend then maybe come back later, in times of inflation you have to do the best to make the cash work for you, i know its a risk , it could be higher , but we still have no idea what kind of returns they are going to be, it could be 0.5p or 1p ?? who knows?, just seems to me they like to keep hold of as much cash as possible???
GLA LTH Stay safe ,
Well missed the trough, but at these prices, it is still a strong buy, BUT AND A BIG BUT... Why the lack of clarity on Dividend and the lack of Buy back ??
This is the time Long time Investors have been waiting for and for me I feel a little flat, which is MAD on such great results.
Results are good, but why still no dividend!!!!!, surely they have confidence going forward , they have been saying they will look at Dividend returns for the last couple of years, its about time they delivered Meaniningful !!! returns
GLA LTH Another 6 months wait , and lets see what they say then?