The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
As a long term holder I am starting to get dissatisfied.... over the years they give out many options to benefit themselves but neglect the many private investors who support them. I am waiting for full years figures to see what capital they are sitting on. I note the chairman says they continue with an annual used mining of 1.5 million tonnes but having only mined about a 1000 tons in three quarters they will have there work cutout to achieve that. I can believe some of their mining resources are being used to develop zone II and reducing mining efficiency in zone III perhaps but it seems a poor statement in the recent 3rd quarterly results suggesting 1.5 m ton by end of year. How much longer can we support them without receiving even a very tiny dividend of encouragement.?
An interesting interview indicating the very strong future of Griffin Mining and future considerations for dividends. Undoubtably we will eventually see strong increase in share price as mining and profits ramp up. Well worth listening too.
I would agree with you about the divi. Many expected one if only a token gesture of things to come and it was not forthcoming or even a hint of one at end of the year. Over the years the directors keep getting their rewards at neglect of their shareholders or purchasing their own shares and I think it has knocked confidence more than many realise. I am still holding as I believe in their future prospects as clearly the directors in a better position of knowledge are confident to keep buying more shares.
For many investors there was also expectation of a small dividend. Whilst understanding GFM in financial prudence some may wonder whether they will ever justify paying one. They keep granting themselves rights increasing their own shares but ignoring shareholders. Their continued purchase of their own shares to treasury though shows their forward confidence in their success. I think many shareholders have panicked at the drop. I am holding a large amount as I have done for many years and expect long term gains in their value as they develop the new zone.
Like Sampson I too have a substantial holding and held many years. Their capacity for mining is now geared to accommodate the long awaited mining licence when I can see at the higher grades reported there that the income will substantially increase and likewise share value. It is dissappointing for all that the licence is so long forthcoming. A dividend would be welcome but my confidence is such that it will be reinvested in them when they do so.