Member Info for UncleBean

Hi Sageman. I've missed Panmure. What have they said?

If you look at the zinc price graph it makes a lot of sense

Blimey. Not good looking at the zinc price graph over the last couple of weeks.

I only forecasted 20.77 cents in EPS.

That is brilliant. Thank you so much. Whilst desperate for the results - I'm an accountant so have estimated last year and current YTD - it's the words that will move the price. After tomorrow it might not be until August that we hear anything further.

Where will we be able to view the results announcement first?

Thank you. I've previously looked at the previous day's closing prices on lme.com. What a rise today - although this probably explains today's rise and is fantastic I am a little disappointed that it's not that some people know something that we don't.

Where's the best place to find the current zinc price?

What looks very good?

I have far too many GFM shares to be sensibly risk adjusted. Thinking still cheap - especially if the pull back goes below 118p. But buying more adds more risk. What to do?

There was a pull back mid morning which didn't last long. I think there will be a dividend as this has been a stated aim of the BoD for several years - being debt free being the catalyst. This will put GFM on the radar of even more Fund Managers. I am struggling hard not to get over excited about the prospects if zinc stays anywhere near the current level. Add in the new licence. I'll post my Noddy expectations of 2017 results soon.

My Noddy maths says P/E is 6.5 x. What's your maths?

This is a company I have only fleetingly heard of before. It ticks my boxes as an investment - I have two young children who love sugary food (but not drink). Questor in the Daily Telegraph has tipped this share without mentioning a p/e of c. 47. What is the potential growth in earnings profile?

Well. (deep breath). I believe that any purchases around the current price will be rewarding over several years. I suspect that the investigation into nearby land has pushed the prospect of a dividend even further down the line. The p/e on last years earnings is 21.6x (Hargreaves Lansdown quote 16.97 and TD Direct 22.34). Who knows what the p/e should be in the long run. There are risks of operating in China but the potential for increased throughput and the potential zone II licence should substantially increase profits over this and many, many future years. There has been a lot of investment over the last few years which should enable first class mining. The zinc price graph over the last month is appalling. It is, however, back to slightly above the price at the start of 2017. This is 70% above the starting price in 2016. Although the mine was shout for the start of 2016 most of the zinc would have been sold at prices way below current levels. Let's say last year's turnover of $66m ($48m attributable to zinc) is boosted by 30% with no change in throughput or costs. Noddy maths coming up. $66m x 30% = $20m. 2016 profit before tax was $10m. Could profit for 2017 be $30m? It's possible. Gold isn't so high. Currently $1,275 / oz compared to GFM's $1,154 in 2016. 10% higher. Silver, however, is currently $18.31 v GFM's $13.25 in 2016. If (and a big if) this is the price received by GFM - last year's sales of silver totalled 310,000 ozs this would be an increase in revenue (and gross profit?) of $1.5m The fundamentals for zinc seem very sound. Throughput will be higher in 2017 due to the closure in 2015/16. All this makes for a compelling investment case. I stupidly sold 29,000 shares last year to buy more Sirrius. Sirrius will come very, very good but I'd have been better holding my Griffin. I retain 102,135 shares at an average buying price of 26.53p so you should sense check my positive stance with your own research.

Thank you. Wasn't expecting the results until next Friday. The results, IMO, show how cheap the shares are at the current commodity prices. Zinc should continue to rise as the supply shortage continues.

Any reason for the last couple of days rises? Results scheduled for 14th April so unlikely to be financial news related. Only guessing that someone knows the extended licence will be granted.

Any idea when the results will be announced? Mid April last year.

Any news of a trading update at yesterday's AGM?

The zinc price is massively up this year but I saw a graph of zinc concentrate (which GFM sells) prices that goes the other way. Does anyone know the correlation between zinc concentrate and zinc.

Everything does seem to be in GFM's favour. I bought more at 28p in December '14 and January '15. I'd recommend buying more now but........ as others point out GFM has a habit of getting to the current price and then retreating to 28p. QE has been around for a long time and might support commodity prices further into the future but who knows? Should GFM breach 50p in the next couple of months could I resist booking some profit? I doubt it but would love to have the chance. Could 80p 120p or 140p be possible in the next year? Yes. Likely? probably not until dividends start and that won't be for a couple of years at least.