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why do gfm do this on a daily bases rather than in the one tranch ?
seems like all blue this afternoon !!
wow some confidence and its not griffin the didn't buy that many !!!
some very large late reported s on the charts today me thinks something goods coming maybe very good ????
Griffin Mining Ltd Transaction in Own Shares 19th January 2011 Griffin Mining Ltd ("the Company") announces that on 18th January 2011 it purchased 25,000 of the Company's own ordinary shares ("Ordinary Shares") at a price of 66.5p per share. The Ordinary Shares have been purchased for cancellation (the "Purchase and Cancellation")
Thanks for that, I think you have them in the same place as I do. Of course GFM are much further down the line and as you point out and cash in the bank. Thats why they have been buying back shares, they have been looking for somwhere to spend the money for a while now, suppose they are thinking why invest in another company when our own shares are so cheap!!!!!!! Well that's what I'm hoping anyway, a good sign for the future...good luck to you on both...
as i see it gfm are far advanced on ggg so much money they are buying there shares back which adds value to the share price, no funding issues profitable mine and big update in resource's also a finger in other pies .ggg is an up and coming share with poss more potential to rise in the short term with the right news !gfm are steady and safe with the odd surprise ! all the best juggler.
surprised that it did not continue the upward rise - was 6p up finishing 3p......Am also surprised that these are not heading faster into the 80p range..........im sure GFM time will come- hoping for more tomorrow- taken bloody ages to get this far from 40p so must be patient i guess!! anyway GLA- hoping for a good week...i
Have noticed you are in GGG as well, am not a stalker (honestly) have been in GFM for a number of years and GGG for the past 5 months. Both appear to be in very similar position drill wise, although GFM are ahead on mining activities and drilling. Both undervalued and appear to have a lot to come in the future. Just wondered what youre opinions are on the comparisons between the two...
sinking down again not getting my shares will top up on any dips ;0))
ha ! as i said on friday i will continue to buy on any dips the mm let me have quote --Chairman Mladen Ninkov commented, "Caijiaying continues to deliver on its promise as an extensive, long life and highly profitable mineral system. The shareholders should continue to enjoy the benefits of this mine for a very long time !!!!!!
JORC better than expected and everything going to plan :)
LONDON (Dow Jones)--Griffin Mining Limited (GFM.LN), a mining and exploration company announced Monday for its Caijiaying Mine in the People's Republic of China, that JORC results show a combined 18% increase in the mineral resource at Zones II & III rising from 32.8 million tons to 38.6 million tons, representing a mine life of over 30 years at the increased throughput rate. MAIN FACTS: -The following increases: *12.1% increase in contained Zinc; *28.4% increase in contained Lead; *15.2% increase in contained Silver; and *12.8% increase in contained Gold. -A 12% increase in the zinc grade and a 72% increase in the tonnage of the mineral resource at Zone II. -Drilling has continued to provide success along strike and south of Zone III to Zone II, allowing the reinterpretation and upgrade of the Zone II Mineral Resource Estimate. -The 25,000 meter surface and underground drilling program is 60% complete and is due to recommence in April 2011. -More underground drilling was undertaken in the mine corridor Between Zone II and Zone III during 2010. -Drilling continued to intersect significant mineralization which added to the Zone II Mineral Resource Estimate. -This work will continue in 2011. -With the Mineral Resource Estimate at Zone II approaching 10 million tonnes and the drilling density approaching the required level, it is envisaged that an application for a mining license over Zone II will be made in the near future. -The mining license application will ensure that all the known mineralization covering Zones II and III and the contiguous area between them will be covered. -This should allow a second ore source to be mined at Caijiaying and significantly extend the life of the mining operations. -Shares closed Friday at 63.50 pence -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com (END) Dow Jones Newswires January 17, 2011 02:45 ET (07:45 GMT)
As, I just posted on the EMED BB: "GFM is still, also, just revving up, whilst we get serious investors onboard. ATB" My point: EMED is also a great commodity play, if one ignores the fluctuations because of the influence of “numpts” and short-term pumps!! ATB
just an update i bought £3000 more at 62.5 ;0))
all the 62.5 trades today are buy I'm one of them like i said i will keep on buying on any dips ;0))
As far as I know, companies buy their own shares when they have one-off cash reserves that need to be returned to shareholders. It is the opposite of raising cash resulting in a share dilution. The merit of buying then cancelling shares rather than giving a dividend is that a 'one-off' dividend often results in negative shareholder reaction when not repeated. I suspect that they have been hoding cash while awaiting a resumption of mining and now no longer need to.
When is the next company announcement, I can't seem to find it on their page. Cheers
why does a company buying its own shares put you off ?? in answer to your question i think that the current price or even lower is irrelevant as i see this share at £1 + sometime this year maybe soon . imho they are buying ( as they did at 35p ) because they see it going a lot higher when more up dates come in and lets be honest they should know !! good luck i have £ 7000 in here and as money comes in i increase my holding .
Is this a good buying price or does anyone anticipate price drop. All these transactions by the company kind of puts me off