Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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As a long term holder I am starting to get dissatisfied.... over the years they give out many options to benefit themselves but neglect the many private investors who support them. I am waiting for full years figures to see what capital they are sitting on. I note the chairman says they continue with an annual used mining of 1.5 million tonnes but having only mined about a 1000 tons in three quarters they will have there work cutout to achieve that. I can believe some of their mining resources are being used to develop zone II and reducing mining efficiency in zone III perhaps but it seems a poor statement in the recent 3rd quarterly results suggesting 1.5 m ton by end of year. How much longer can we support them without receiving even a very tiny dividend of encouragement.?
And this is while the share buy back is going on - dare not think the of the drop without the buy backs - obviously the board need to rethink shareholder value when looking at dispersing profits at the next interims
Another 4.5% down !! Uffffff
I agree that a dividend is long overdue. Even 0.9p would give a 1% yield and cost less than £2m. This might put the share on institutional investors radars. If this mine was in almost any other country than China the SP would be a lot north of £2.40.
The zinc price is very low at the minute but has been recovering - the last two days particularly.
Yes its just the nothing share/ company....just stagnates....Plenty of potential but does nothing.
I have been in for close to 10 years, I still think this company is way undervalued. However, it’s getting a bit boring. Dividend is a must.
With no dividend and no shareholder benefits it gets more and more difficult to justify. Being in for the long ride is O.K but how long ?
When on earth is this going to move North of 100p.
Becoming tiresome Griffin. Come on.
What happened to the zinc price just before 11am today? Up about $90 in 20 minutes
I am no longer invested and was worrying about a very positive result third quarter. It seems he is keeping cards close to his chest, but remember they are in share buy back mode and so will underplay any positive results. All I will say is "I have seen this pattern before and it usually results in a positive outcome further down the road, when least expected" Good luck to everyone, I hope I wont regret bailing out after all these years, but still believe another 40p - 60p is possible
Chairman Mladen Ninkov commented, "Another solid quarter of production with thanks to all the Company's officers, employees and contractors."
Clearly a man of many words :-)
Berenberg raises Griffin Mining price target to 130 (120) pence - 'buy'
I didn't buy in myself at 7p all those years ago but know someone who did and followed it down - I feel your pain Silver
It would appear that yesterday's large rise was on the back of a company self purchase of 32000 shares at 94p. Fantastic effect, but it needs a stream of buys to maintain buoyancy. The only way that will happen is with a dividend policy, but I fear China is going to remain at arms length to most western fund managers. An exit strategy is a good idea, but I'm reluctant to abandon this before the new mine opens. Not sure if we've got a target for this.
This was posted about 15 days ago & certainly has contributed to their recent rise factor. .............
'' Chairman Mladen Ninkov commented,'' / "This is a truly stellar operational and financial performance by the Caijiaying Mine, the Company and all its employees, contractors and other stakeholders, particularly in the current, relatively modest, commodity prices environment. I'm further delighted that the Directors have decided to address the issue of the market value of the Company which, with the cash now being generated by operations, will be an ongoing and permanent feature of the Company's future."
Also some brokers recommend £1-40 to £1- 50 target price.
I got stung twice before being greedy when I had all I really needed and as you said the falls, the falls yhey hurt much more than extra gains I know (I think) will come... up today another 12+ I could have had
Oooooh! Retirement! Should I dare with the current climate! Every rise is followed by a substantial fall (in the general market) I've permanently got my eyes on that goal, just want to see a clearer road ahead. Wish you all the best, and a long and happy retirement.
It may sound strange with a buy whilst I am selling and I know with the 3rd quarter due in early October I could HOLD ,but having been with Griffin since the early days, I have had a great ride with gains and losses (when the mine shut). I am now retired and have seen Grifgin give me a great profit and a potential extra 150k makes less of a difference than a 100k fall.
SO I WISH YOU ALL WELL! I BELIEVE GRIFFIN HAS ANOTHER 50P RISE IN THE COMING MONTH (s) AND I WILL TRY NOT TO REGRET THAT
Like Zooman on ADFN chat for me GFM has been one of my best investments ever up there with some of the dotcom stuff 24 years ago! Bought in at 7p originally saw it up to over £1.40 sold half then watched it go down again but looking forward to it going back up to £1.50 which is more than likely. Great company!
Sorry "NON-executive director"
Nothing to see here. Fantastic results. Future looks brilliant. No dividend, but targeted buy-backs. Funnily enough, just after executive director transferred his shares to his own holding company...
I need an exit point.
Getting abit bored with this one- waiting and waiting. Never much news here - just treads water
It wouldn't take much to put a RNS out to say when the interims will be published.
That's what I thought.
Either:-
The BoD is determining how huge a dividend to pay; or
The old maxim of bad numbers taking longer to add up;
is true?
Expected these today aug 16th last year
should be ok