Griffin12 Apr 2019 10:17
To date, Griffin has reviewed a considerable number of projects, few of which have met Griffin's investment criteria. Spitfire meets Griffin's criteria in that, as reported in Spitfire's Admission Document, its Salmon Gums project has a JORC Inferred Resource (>10m thick seam) of 500 million tonnes of lignite and is located in a stable country where Griffin already has a presence. Although Spitfire's Salmon Gums project is a hydrocarbon project, this does meet Griffin's objective of spreading commodity risk and all of Griffin's directors have experience of the oil and gas sector.