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Can we send written questions?
Not really sure what’ll cause this to fall substantially at any time given the company share purchases.
Hopefully some more momentum moves this up to £2 and beyond where it deserves to be
Think that may be the all time closing high. I was planning to sell out at £1.50 but can only really see it going one way at the moment so have set a 10% running stop loss instead.
I too think it has further to go though i have taken a little profit
Hitting new 12 mth high today. It's got to power through soon. I'm not selling soon though.
Cheers.
Anyone up for flying to Bermuda for the AGM? LMFAO!
Chris
Just for info (ifs and ands and all that):-
IF the average zinc price received in 2023 had matched 2022, GFM would have received $65.2m additional revenue with little increase in costs. The comparison was $1,931 v $2,513. With the reduction in smelting charges this equates to a current spot price of c. $3,090 giving GFM c. $2,300. That's c.$360,000 additional cash and profit each and every week zinc is at this price v 2023. That is a serious amount of cash.
PS. I'm still furious no dividend was declared.
So in reality, turnover and profits will be substantially higher 2024 given current price of gold and zinc.
New increase JORC coming in 2024.
Share buy backs ongoing leading to eventual cancellation of shares
Zone 2 online in 2025
Lots of be holding for
Rns 26/01/21
Substantially Increased Zone II Resource at Recently Granted Mining Licence Area
107% Increase in the Mineral Resource at Just Zone II
$7.1 Billion Metal in Situ in Just Zone II
To announce a significant increase to the Zone II Mineral Resource at the Caijiaying Mine. These additional Indicated and Inferred Mineral Resources are located immediately adjacent to the south of Zone III and within the recently approved Mining Licence (See Company Announcement "Issue of New Mining Licence" dated 4th January 2021).
These new resources, which are reported in compliance with The JORC Code, are in addition to the Zone III Mineral Resource currently being mined at the Caijiaying Zinc-Gold deposit. The highlights include:
· 1.49 million tonnes of Zinc Metal (from 0.638 million tonnes)
· 463,000 ounces of Gold (from 164,000 ounces)
· 36.8 million ounces of Silver (from 15.5 million ounces)
The new Zone II Indicated and Inferred Mineral Resource estimate comprises 40.7 Mt at 3.7% Zn, 0.9% Pb, 28.4 g/t Ag and 0.4 g/t Au, resulting in total contained metals of approximately 1.49 Mt of zinc metal, 36.Moz of silver metal, and 0.46 Moz of gold metal.
This is an increase of 21.1 Mt (107%) from the previously reported Zone II Mineral Resource of 19.6 Mt at 3.3% Zn, 0.7% Pb, 24.6 g/t Ag and 0.3 g/t Au (Company Annual Report "Results for 2018 and Annual Report and Accounts" dated 30th April 2019).
Regarding the contained metal this is an increase from approximately 0.6 Mt to 1.5 Mt of zinc metal, from 0.14 Mt to 0.38 Mt of lead, from 15.5 Moz to 36.8 Moz of silver and from 0.16 Moz to 0.46 Moz of gold.
The large increase in resources at Zone II is the result of the significantly improved geological understanding of the structural controls on mineralisation, and on mineralogical associations gained from the extensive work over many years, together with a more recent detailed re-logging and assaying review of selected areas within Zone II. As underground access and mining activities progress into 2021, further improvements to the geological model are expected.
Actually good point Uncle B, and I don’t know the answer but gonna go do a bit of research will post if I find anything
Yep. The price of zinc and gold will mean increased profits just by standing still.
I did used to know but have completely forgotten. Is zone II more concentrated in metals? This is important as the processing facility is the constriction. If 1,500,000 being processed is the limit then revenue can only be increased by greater concentrations. Costs will be reduced for the first several years minings from zone II. I can see a second processing facility being constructed. That would be transformational.
Uncle B - The PE will drop in 7 months when we starting operating Zone 2 still on schedule for Quarter 1 2025 increased revenue and yes just maybe the start of dividend payments - I am allowed to dream
The Zinc price will hold the share price up by no dividends means a drift I think. Deduct cash and GFM is trading on a p/e of 21.5x. Based on the political risks I've always thought 8.5x to be appropriate. A 10c dividend would IMO have pushed the price to 200p+.
I'm a seller. Yesterday I would have been a buyer if I wasn't massively overweight already.
I personally am more than happy with GFM's performance over the last 12 months. Yes no dividend but up from low of 80p to £1.50. If they could replicate that again who needs dividends. Just my thoughts.
" Unfortunately, with the history of GFM, it's likely to be the latter" - that should read "likely to be the former". Hope it's the latter
I'm fuming. Totally fuming. No reason given.
Latest results, new highs (but no dividend). It remains to be seen now, just how much of this news is already factored iinto the share price. Are we going to see a massive profit taking, or a massive purchase of shares? Unfortunately, with the history of GFM, it's likely to be the latter. I stand to be proven wrong. (actualy, i'm preying to be proven wrong)
Ah well i suppose the Directors ae happy picking up nice salaries,
The 2023 Annual Accounts should be published imminently. I'm sure Zone II will be addressed in that.
Does anyone have any idea when we might start seeing some ORE mined form Zone 2 ?????. It's been in development for a further year since I invested
As I reckon GFM currently has more than $63m in cash on deposit I’m thinking 160p will be passed for good when they say how 70% of that will be distributed. Yes, the zinc price has traded 40% higher than now but it is at a level that throws off cash for fun.
Bounced off 157p twice. Very worrying sign for any other share. Problem is, a good set of results hasn't brought any longstanding change about in the past. Taking on a broker to buy back the shares has obviously been a positive move. Maybe it'll have a similar effect come the next results. Dare to dream? I always did...
Anyone else amazed that a wealthy Chinese conglomerate hasn’t snapped this up yet?
As the company has enough cash to buy at least 12% of the current shares in issue they’ll have to find other ways to utilise the cash - or I suspect the PRC will do it for them.