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They were always going to be good. I was slightly disappointed that there was no news on corporate strategy and dividend policy, just money going into new mining area, as the market knows the results would be good yet has dropped the price by 50% over the last 3 months. By the sound of it plenty of fire power left to start up the share buying again. Going forward prospects are great, just have to contend with mining in China!
Reads well.
95p to £1 open Monday
i bought at 85p this morning and now is 88p to buy,could see 90p today
in the morning you could buy 30k but now you cannot ,
10k or 20 k no problem.
I might be wrong, although I personally reckon there will be a frenzy of buying between now and results day. Also on Monday & about time eh !
I expected it this week, could be Covid delays. The results should be very good, with possible further news on what the company strategy is now that all mine extensions plans have been approved. The share price is dreadful. I would like to see a sale, or start of large distributions back to shareholders.
GFM share price will turnaround very soon,
Is it just me who looks for a RNS half year report daily at 7:05? Anyone know when the results will be published?
Hanser I did ! That said great to hear from you again after so long.\I hope all is well in your world.
I doubt he and GFM's brokers are wrong but feel free to contact him yourself
Thanks Impatient. Hopefully this board will remain grown up and civil. It is almost impossible to predict an SP given the role of sentiment and commodity volatility. Looking to 2023/2024 , assuming commodity prices are firm and sentiment improves I believe that todays price will appear cheap. I have seen projections by others suggesting this could 3 or 4 bag from here but who knows. My view is that the age of the BOD will be critical regarding retirement, dividends and potential sale. The thing is with GFM is that it is a sound company where the BOD don't keep coming with their begging bowl. A rare commodity on AIM!
You had better email Roger and tell him he is wrong then!
Sageman - You are incorrect regarding buybacks in the closed period. I refer you to the RNS 7 April 2021
Welcome Sage, good to have you on board. I have been a lifetime lurker on the other board but I agree with you it’s just got too much. Where do you realistically see this share price going in your humble opinion?
Interims are due so GFM are in a closed period with no buy backs allowed. I suspect that the current SP weakness is due to systemic risk (ie China related as opposed to GFM specific). This is a good opportunity to buy
Hi volcano. The shares held in Treasury before the buy back programme started was already 540,000. 399,799 shares have been bought this year so far. I don't think $1m in purchases has been completed so we are less than 10% through.
Chris, i think GFM reached the target of $10m buying the shares.
3. the aggregate number of ordinary shares which may be acquired on behalf of the Company in connection with the Share Repurchases shall not exceed $10 million in value.
The total number of ordinary shares of the Company (including treasury shares) following the purchase is 174,892,894. The Company now holds 939,799 shares in treasury. The total voting rights of the Company following the purchase is 173,953,095.
The drop goes against the potential with the new licences. I am sure we will find out soon enough. I would like to more company purchases, and a director buy ( after closed period and half year results). I also hope for a start of a dividend, and an interest in a buyout. We are at such a discount to NBV and with such potential for future profitability, somebody must be interested at this valuation.
Maybe a rise in covid cases globally that could trigger lock downs and mine closures In China?
Perhaps a fear that China may revoke licences as international relations sour?
We've added billions on resource and increasing production with metals markets holding firm... something doesn't add up.
The company bought their own shares at £1.40 but not a snif now they are 90p !!
Maybe just grin and bear it; possibly just tree shaking prior a resumption of buying...
https://www.spglobal.com/platts/en/market-insights/latest-news/metals/070121-china-steel-market-expected-to-weaken-in-july-amid-rising-inventories-platts-analytics
It could be that the flooding that China is suffering is a worry on peoples minds! It would be beneficial if company released a statement on how they have been affected.
They must be out soon, just cant understand this drop.
They are delivering to plan, increasing revenues and profit going forward, yet the share price does not reflect this reality. I hope we get bought out, as worry that even if we started paying dividends, the market just does not like a Chinese based resource.
Brilliant. Everything on track. 1.2m throughput even without Zone II. Good prices. Results will be wonderful.