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Any chartists have a view on the potential for a Golden cross chart signal in the near term ?
They need to start talking Dividend and use this opportunity for share buy back!
I have far too many GFM but sucked into buying 7,131 more this morning. Although a couple of weeks before generating serious cash GFM sells c. 900 tonnes of zinc each week. Even $600 above the previous quarter's average price is over $0.5m extra profit each week assuming costs remain constant.
Will there be a further update Monday or wait until full start up?
Underground drilling at both Zones II & III will begin earlier than planned on the 7(th) March 2022.
With zinc prices now touching $4000 this has got to be time to build some serious cash! I've just sold some poorly performing bank shares to nearly treble-up here. Forgetting all thoughts of licenses, dividends etc, at these commodity prices I think GFM is undervalued just as it is. Well, I hope so! Geopolitical risks notwithstanding etc.
Restart - good news.
The "unknown" at 11.14 today for 21000 was a buy. (Wish I had been 10 mins earlier)
Hi. It's my biggest (only) concern. A weak West could lead to China flexing it's muscles further.
Greetings to all.
I am wondering what's your thoughts regarding the situation between Russia/Ukraine - if anyone is taking that into consideration?
No you're not dreaming David, but it was well flagged in advance and is entirely out of GFM's hands and in those of the Chinese government. But whilst mining is suspended, we hope, GFM is getting on with other work to save themselves time later (e.g. maintenance/ upgrading equipment etc). Importantly, the price of zinc remains high and I suspect there will be a bit of industrial catch-up when the shutdown expires. Time will tell whether this has been an opportune or unfortunate moment to be shut down because of the Winter Olympics!
It's not something to be worried about per sé, simply because it was all known well in advance.
Guitarsolo
I like GFM as a play on the price of zinc. However, as I read it, the Chairman's statement of 31 st of December is effectively writing off a full quarter's production:
Chairman Mladen Ninkov commented, "As forewarned in October of this year, the mining and milling operations will remain closed for the Chinese New Year holiday period, the Winter Olympic Games and Paralympic Games and re-open on the 14th March 2022.
Am I dreaming?!
With zinc above $3,700 we'll be making fortunes if it stays at this level for a few months. Could rise further when China starts up manufacturing after the Olympics.
https://www.lme.com/Metals/Non-ferrous/LME-Zinc#Trading+day+summary
Let's get the Olympics out of the way and back into business ;)
I sold a large proportion of my holdings at and above £1.30 to secure my retirement, but feel at these levels I may regret not doubling down just need a bit of time to release funds . Please stay flat for a week or two THANK YOU
Just been posted today. Or reiterated. Nice.
18-Jan-22 Griffin Mining (GFM) Berenberg Bank Buy 170.00 170.00 Reiteration
I totally agree. Probably slightly less than 20c fully diluted EPS so a p/e of c. 5.8. Ok the mine is closed but work to improve capacity is, hopefully, being undertaken. Run rate upon reopening of over 50% higher than 2021 with easier to extract metals from Zone II once final permission is granted should give H2 2022 EPS of 83% of full year 2021.
Dividends? More than enough cash to get through the closure and put in all desired works. FY results will be released after the mine has restarted so no reason not to declare a dividend although CAPEX will probably be used again.
Biggest positive will be relaxation of quarantine rules in China and AUS allowing "Western staff" to renew usual work on/off arrangements.
I have far too many shares to buy any more but will certainly not be selling in 2022.
I thought fairly strong results, and with prices up and costs down should see a very strong bottom line!? At these prices I am will have to search for some extra cash to invest, but this year must see DIVIDENDS no more excuses.
yes , I did read that but then, it was a badly written RNS , it said things where shutting down for the Olympics, then on. the next paragraph, it looked like they had been granted special permission to continue operations?,
"Chairman Mladen Ninkov commented, "The permission granted by the various levels of government in the People's Republic of China to the continuing operations by the Company in this high profile period is very much appreciated and is an acknowledgement of the special relations enjoyed by all stakeholders in the Caijiaying Mine and best ESG practices implemented by the Company. "
Hence my surprise it was closing down the mining operations completely, imo, I think it will hurt the current Sp , and yes it may offer a good opportunity for those that can sit this out over the next 3-6 months , but its not going to be good , imo
GLA LTH lets see how it performs next week ???
3rd item on the 'GFM Live RNS' option, if you press the icon?
https://www.lse.co.uk/rns/GFM/winter-olympics-games-extension-6tgu17xdoac4k0d.html
Always useful to read through historic RNSs before making any kind of investment decision, amongst other things, of course.
Can someone point me to the information where it was stated that this was the intention to shutdown for 3 months???, ive been looking and cant see it anywhere!!!
Company is underpinned by good results, this is not !!! a good start to 2022, the Sp will suffer over the next few months, imo and those that are stating they will be topping up, I have very few words for them
GLA LTH "GOOD LUCK"
This was well publicised by the company and to be honest I think it's very well run and has great potential for the future. I am kind of hoping there is a drop in price over the next few months as I should be in a position for a top up if another share goes as expected. Happy New Year to all when it comes.
The mine will still be staffed to do repairs and maintenance for the pumps etc. The closedown was well advertised, could have been worse. That is the bad news out of the way, let’s have the good news in the new year. The Chinese government will do what they want, different approach, and will take the west apart economically with a centralised approach IMHO.
You are a silly billy
How can the BOD justify that???, unbelievable , who is running this Company the BOD or the Chinese Government? will undoubtedly be problems after such a long time shutdown, imo
GLA LTH Its about time the BOD took control
The high zinc price (and huge amounts of cash being thrown off are one. Huge rise yesterday almost all of which fall through to the bottom line. A great end to the year.