Griffin Mining Share Price (GFM)

done my *** packet sums

profits will be up 200% this year assuming 1.5 m prod and metals prices as they are now

and similar mix

could be even higher with higher % of gold and silver

cash flow massive as well

not a share to sell

I agree with all you have written.

I would adjust down the p/e by the $42m cash.

As Capex for Zone II is greater in scope than zone III from 2027 cash generation should hugely beat reported profit.

The increase in PM prices does make 2025 understated v 2026 to date. 1.5m tonnes at current prices would have been $184m. And then there is currently a greater proportion of gold from Zone III.

But it’s always jam tomorrow.

And the lack of dividend might be tax efficient for the company but I want dividends into my ISA and SIPP. Imagine what a 7c + dividend increasing every year would do to the share price, opening the share to different investors.

With a P/E of 34 there is little incentive to new investors if there is no prospect of a dividend. The boost to the share price by the recent great performance is not going to be repeated in the near future, and new investors would seem to have little to gain from buying the share. At best the price will be in the £3-4 range but with nothing else for investors, the risks associated with that P/E seem unduly high wth no prospect of a share in the profits. The Directors will be awarding themselves handsome bonuses, of course, as they do every year. And then hide the AGM in a far off land!

It could be.

My Noddy maths has always supported a much higher share price which has yet to materialise.

Current PM and zinc prices suggest GFM is earning c $1.1m more each week v 2025 based on average production.

But 2025 production was 1.1m tonnes and the company expects to return to 1.5m production shortly.

And we know that current throughput is more gold specific.

I coincidentally started working with a GFM shareholder and had a meeting booked with him yesterday. He initially (8 or more years ago) expected the price to reach 400p. Now he says he won’t be selling any of the 700,000 + he controls below 500p. I hold over 200,000 so 500p would be magical. I have marital pressure to sell some at 350p!

The caveat is that it is always jam tomorrow with GFM and yesterday’s statement slammed the door on any dividends whilst the current board are in place.

Pr

Problem there is will it get to £4......or more !