Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes. The Board have regularly referenced the ability to get funds out of China. There was a RNS on 29th November 2023:-
Griffin Mining Ltd ("the "Company" with its subsidiaries "the Group") is pleased to announce that on 24th November 2023, it received into the Group's bank accounts outside of China, a further dividend from its operating Chinese subsidiary, Hebei Hua Ao Mining Industry Company Limited, in the amount of Renminbi75 million (US$10.5 million) less PRC withholding tax of 5%. The net funds were received in the normal course of business and in normal electronic wire transfer times.
Are the company allowed to distribute dividend and pay the money outside of China?
I bought way back at about 126p but I need to make up for lost interest, so yes I could sell now but I 'd like a bit more considering the slow progress.
Have you got a lot of shares or bought at the very top 3 years ago? Otherwise why is it difficult getting your money back?
I been with this one for a long time and I just want to get my money back
I agree that the share buyback is encouraging. For me this is because it must mean that plenty of cash is outside of China, there is no bad news on the horizon and the huge cash accumulation is continuing. Is that your reasoning too?
I'm thinking that a 3p - 5p dividend will be declared in the results in a week or two.
Very encouraging to see this aggressive share but back program. Everything looking good here. Just add a divi. And this will fly. Divi needed big time. Even a minor one will support the SP.
You wait. 2023 results could be out in the next 2 weeks. No unexpected costs. No bonuses. No options granted. Zone II even better than expected. Exploration area extension granted. Chairman says "We have too much cash so going to distribute 15p in dividends." Share price will be well over 160p.
OK. That's my very poor attempt at having a laugh.
Appears to be 160p, the all time high. keeps pulling up short. Are the market makers having a laugh?
TY, I did miss that.
Hi Kaypea. I understand your thinking but I think you missed this RNS on 5th January:-
Today, Griffin announces that it has entered into trades committing to purchase, through its joint broker Joh. Berenberg, Gossler & Co. KG, 8,886,128 of the Company's own ordinary shares ("Ordinary Shares"), representing 4.6% of the Company's issued share capital (excluding shares already held in treasury), at a price of 88 pence per Ordinary Share, for a total consideration of £7,819,792, excluding brokers fees, (the "Transaction"). On settlement of these trades the Ordinary Shares purchased will be held in treasury for the time being.
These transactions seem to have transformed the investment outlook for institutional investors who now seem to be gradually coming on board. Buying these shares now would cost almost £7m more than it did then.
Not long ago the sp was near 80p, yet there was no buyback. Today the RNS informs of a buyback at 152p. Why now, and what is the point of buying just 20000. Probably the excuse that will be fielded to avoid a dividend, again.
History would suggest that's a good idea. Especially with zinc and gold tanking today. I'm gambling that a dividend will be declared (history suggests no dividends declared) with the results in 2 weeks time.
Some profit off the table, its been a long slog to get to £1.55
I’m with you Paranoia .. I originally bought at 7p and sold some when it last touched £1.50 and the cursed when it dropped right back down again but decided if it ever got back to £1.50 I would sell. Trouble is now I feel GFM is much stronger than when it last hit £1.50 so I’m going to hang on a while; I think I’ll use stop loss this time and sell if I see a 10% drop.
I can see many more reasons to buy than sell. Hence I'll hold. Unless the price of zinc tanks I'm hoping not to sell before 240p.
Well, above where I bailed out the last time. But I think I’m going to hold on longer this time ;)
At 30th June 2023 GFM had almost $47m in cash. Admittedly net current assets was just under $21m. After nearly 10 months of trading and buying 9m shares at 88p (!) the numbers are probably c.$63m and $37m. Cash is a very significant proportion of the c.£260m market cap. What would the declaration of a 10c dividend do to the share price???
Wealth warning. Whenever I speculate on a dividend boosting the share price it is ruled out and the price falls.
We … AND the company know that the share price deserves to be far higher than it is. Zone 2 not even in the numbers yet and profits are due to be exceptional this year with the price of gold now at over $2300.
UK shares just are not loved enough and there is still this anti China rhetoric I feel.
I’m very surprised a big Chinese major hasn’t taken the company out when it was so very cheap
Wall Street posted an article yesterday showing their reasoning why the Fair Value worked out at 278p ! We can be optimistic that in the longer run their is much more upside perhaps.
I wish I'd seen this yesterday - Clive Maund is pretty good with his forecasts -
"Gold Market Update - it's CORRECTION TIME...
originally published Sunday, April 14, 2024
https://www.clivemaund.com/gmu.php?art_id=68&date=2024-04-14
After falling today, in the evening things changed and the prices of gold and silver shot up. Good day tomorrow,
Hi Wheelie
It was 7p in late 2002. I remember it quite well because it was just after I married and my wife and I both set up equal portfolios of shares. Over the years her shares have generally done better than mine but GFM has been one of my successes thankfully!
I've also been in since about 1998(115p)but I don't remember the price ever being 7p.
I don't know about 7p but my records say I bought my first GFM shares on 3rd October 2008. This sounds wrong as I was first put into GFM by a neighbour I haven't seen since 2001. I think 1998 is more likely.
Up until 2018 I traded in and out well. In 2020 I bought several tranches more totalling 85,632 shares at prices between 36.7p and 90.18p.
2021 was a disaster for me as I got sucked in to buy more at 113p, 108.65p and 130.38p.
Currently I hold 264,203 shares at an average purchase price of 59.71p. 135.41p = £200,000 profit
Interestingly (to me) GFM was 140/145p on 11/2/21 when 3 month zinc was 2792.9 which is currently 2794.6. There was a lot of excitement at the time but the mine has massively progressed since then.
With institutional investors catching on, the big holders reducing their blocking holdings 300p is definitely possible IMO.