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TY, I did miss that.
Hi Kaypea. I understand your thinking but I think you missed this RNS on 5th January:-
Today, Griffin announces that it has entered into trades committing to purchase, through its joint broker Joh. Berenberg, Gossler & Co. KG, 8,886,128 of the Company's own ordinary shares ("Ordinary Shares"), representing 4.6% of the Company's issued share capital (excluding shares already held in treasury), at a price of 88 pence per Ordinary Share, for a total consideration of £7,819,792, excluding brokers fees, (the "Transaction"). On settlement of these trades the Ordinary Shares purchased will be held in treasury for the time being.
These transactions seem to have transformed the investment outlook for institutional investors who now seem to be gradually coming on board. Buying these shares now would cost almost £7m more than it did then.
Not long ago the sp was near 80p, yet there was no buyback. Today the RNS informs of a buyback at 152p. Why now, and what is the point of buying just 20000. Probably the excuse that will be fielded to avoid a dividend, again.
History would suggest that's a good idea. Especially with zinc and gold tanking today. I'm gambling that a dividend will be declared (history suggests no dividends declared) with the results in 2 weeks time.
Some profit off the table, its been a long slog to get to £1.55
I’m with you Paranoia .. I originally bought at 7p and sold some when it last touched £1.50 and the cursed when it dropped right back down again but decided if it ever got back to £1.50 I would sell. Trouble is now I feel GFM is much stronger than when it last hit £1.50 so I’m going to hang on a while; I think I’ll use stop loss this time and sell if I see a 10% drop.
I can see many more reasons to buy than sell. Hence I'll hold. Unless the price of zinc tanks I'm hoping not to sell before 240p.
Well, above where I bailed out the last time. But I think I’m going to hold on longer this time ;)
At 30th June 2023 GFM had almost $47m in cash. Admittedly net current assets was just under $21m. After nearly 10 months of trading and buying 9m shares at 88p (!) the numbers are probably c.$63m and $37m. Cash is a very significant proportion of the c.£260m market cap. What would the declaration of a 10c dividend do to the share price???
Wealth warning. Whenever I speculate on a dividend boosting the share price it is ruled out and the price falls.
We … AND the company know that the share price deserves to be far higher than it is. Zone 2 not even in the numbers yet and profits are due to be exceptional this year with the price of gold now at over $2300.
UK shares just are not loved enough and there is still this anti China rhetoric I feel.
I’m very surprised a big Chinese major hasn’t taken the company out when it was so very cheap
Wall Street posted an article yesterday showing their reasoning why the Fair Value worked out at 278p ! We can be optimistic that in the longer run their is much more upside perhaps.
I wish I'd seen this yesterday - Clive Maund is pretty good with his forecasts -
"Gold Market Update - it's CORRECTION TIME...
originally published Sunday, April 14, 2024
https://www.clivemaund.com/gmu.php?art_id=68&date=2024-04-14
After falling today, in the evening things changed and the prices of gold and silver shot up. Good day tomorrow,
Hi Wheelie
It was 7p in late 2002. I remember it quite well because it was just after I married and my wife and I both set up equal portfolios of shares. Over the years her shares have generally done better than mine but GFM has been one of my successes thankfully!
I've also been in since about 1998(115p)but I don't remember the price ever being 7p.
I don't know about 7p but my records say I bought my first GFM shares on 3rd October 2008. This sounds wrong as I was first put into GFM by a neighbour I haven't seen since 2001. I think 1998 is more likely.
Up until 2018 I traded in and out well. In 2020 I bought several tranches more totalling 85,632 shares at prices between 36.7p and 90.18p.
2021 was a disaster for me as I got sucked in to buy more at 113p, 108.65p and 130.38p.
Currently I hold 264,203 shares at an average purchase price of 59.71p. 135.41p = £200,000 profit
Interestingly (to me) GFM was 140/145p on 11/2/21 when 3 month zinc was 2792.9 which is currently 2794.6. There was a lot of excitement at the time but the mine has massively progressed since then.
With institutional investors catching on, the big holders reducing their blocking holdings 300p is definitely possible IMO.
This is going to 3. I’ve held Griffin for 10 years. Finally people are getting it. Cash cow, no debt, massive deposit. Let’s go!
In what year did you buy at 7p?
Held this for years. See massive upside here.
Moooooooooooooooo
It will never get sold !
Take your nonsense elsewhere. Doing just fine here :)
How much have you lost on EUA? Getting desperate?
Already made a lot of money here .. in at 7p target price £1.50 but may hang on for £2 later this year. ARV is my hope moving forward!
Nothing will happen here, you should check our Eurasia Mining (EUA) - Now theres a company that will make you money.
Hi.
Do we know when zone 2/3 numbers will start feeding into the production or have they already started?
Some one said if this was in US would be worth 700m I think well over a Billion given some of PE multiples over the pond!
Gold on the up this evening - will GFM react tomorrow? It should.