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which sites are u looking at about GFM
Blue it was on investigate site ..the reason for the special meeting was due to technical problems and not getting the results from conversion of coal to oil .
Spitire oil has had a major technical hitch and had to shut operations so Thats why GFM is taking a hit so i have decided to quit GFM
this share is prime for daytraders due to it volatility and medium term upside....as so it seems true analysing the last 3 days trades shows typical daytrader activity .
I have a long term stake in GFM ,..strategy ...well we have had all the promises and rumours and shocks... the shutdown last year took the wind out of the sails...but now the company is in full production but people want hard financial data and solid results before real belief supports major share price rise .
i saw those 2 huge buys yesterday within 2 minutes £3.75m each thats interesting must be a fund
I have seen that info before ..the SP wont move much until some hard financial; data comes out then the big boys will move if its good and the SP will surge . its a matter of credibility.
£50k thats a big chunk of confidence .
I was not in this stock in the old days ,but i am a cynical old bugger
Just dont wet your pants expecting anything too stellar ,like some people do jsut a steady tick.tick up unless any bad new comes out or the chinese do something silly, reinstating a dividend i think will be 2011 as it will be a trend in other companies and the herd instinct will kick in in boardrooms.
I suspect that we we see the SP fall victim to daytrading volatility in the short run, but slowly tick up over the next few months
when is the next company bulletin expected ? SP will drift sideways until then,
tried topping up on GFM and my account is in credit but broker states Trade blocked by MM ...whats that about? put in a successful trade just now on Lloyds so the problem is GFM...baffled.
call me cynical but why should griffin management give a toss about shareholders when they get salary and expenses whatever happens .
BHP Billiton are cash up big and looking for acquisitions in China , would they be interested in a minnow like GFM
Yes the license is Good news DOST but it has a sting attached, to go deeper requires more heavy investment and safety systems which will require capital expenditure ,and remeber they shut the mine down for expansion at the top of the market ,whereas now would be a better time .when things are quieter.But once the market turns positive again the shares should so well , but the managment could be a little more investor friendly.
It could be that Griffin will turn out to be a dud like Skyepharma promising for years , with management that stay quiet and take their big paychecks but never actually performing until investors all walk away due to apathy. The other worry is the depth of the mine now they have permission to go deeper than 1300m that will be very costly and potential much more dangerous ......are we all fooling ourselves.Or is it just market conditions.
Juggler all they have is a license to mine below 1300m , yes they are sitting on cash and the mine is back in operation but the markets are now unsteady and more investment will have to be spent to mine deeper.What the share really needs is solid data ,showing profits and sales from the mine, many investors are cynical about griffin managment and require solid data , not wishful thinking
I think the share is probably affected by general market doldrums about non recovery and China credit squeeze.I think that serious big money investors are waiting for a GFM financial statement ,rather than vague quesses and promises.they want real return on investmkent underpinned by results.
The sell off is due most likely to the Chinese government ordering the banks to hold bigger reserves to dampen the bubble .the result means less use of materials and resources so all mining shares hit. yeaterday and again today, but Griffin are still a buy .