oldjoe1
19 Apr 2018
GFM Another HIGH....... GFM Griffin Mining........... Breaking out and upwards along with other base metal miners. After a positive last update to the market covering broker Cantor have yet again very recently increased forecasts.<a href='[link] target='window'>[link] BROKER VIEWS</u></b>Date Broker New target Recomm.16 Apr Cantor... 190.00 Buy15 Dec Cantor... 166.00 Buy10 Oct Cantor... 137.00 Buy24 Aug Cantor... 104.00 Buy<img src="[link] src="[link]
millwallfan
16 Apr 2018
Re: Hello hello hello I’ve been hanging since I can’t remember when lol
Chinese Dragon
16 Apr 2018
Re: Hello hello hello IMO Good news following a disdapointing week alround last week except for the Y/E figures IMO the receiving of the missing licence wou;d transform the SP dramaticallyIt would once again appear that patience is the key so IMO if you do not have to sell hang in there for a bit l
hanser
16 Apr 2018
Re: Hello hello hello Cantor target raised to £1.90
millwallfan
16 Apr 2018
Hello hello hello What’s going on ‘ere then. Up 7 p. Investors waking up after a few days deliberations
Rellim05
15 Apr 2018
Lead mine takeover? I seem to recall that around 10 years or so, ago, GFM made a move to take over a lead mine in Australia. Can't recall the full reasoning behind the decision not to proceed, but it may have been connected with the costs of handling the lead after production. Hope my memory isn't playing tricks with me, lol
Turkeyminder
15 Apr 2018
Re: High score ? My understanding/belief is that the timescale was an issue - indeed there is still no clear way forward with regards to the lignite project becoming profitable. At the same time, SRO board is looking for alternative projects - I believe that had GFM maintained its holding then the financing of any SRO projects could have become very complicated /messy.Nothing else to add - just hoping to see a Zone II license before I retire !!Best wishes to you and all other posters - new, old and very old !Tm(I should have made it clear - the first two paragraphs in last post were lifted from GFM annual reports - not my interpretations)
burnchat
15 Apr 2018
Re: High score ? TM thanks for your reply . I have little wish to labour the point but how can a guy realise an asset then decide to relinquish it at a loss to GFM share holders yet still feel that it has value to himself.? the way i have moved on i,m just trying to answer unanswered questions that lay on my conscience, for posterity/prosperity you understand...
Turkeyminder
15 Apr 2018
Re: High score ? As originally stated in 2008 - 'This is a long term, high risk venture. But the economic rewards, should Spitfire Oil Limited be successful, will be enormous and Company transforming.'Subsequently in 2013 - At the beginning of 2013, following a strategic review of the Group's activities and future direction, the directors determined that Griffin's 39.2% interest in Spitfire Oil Limited ("Spitfire"
was peripheral to the Group's activities and should be realised.The original purchase of 16,666,667 ordinary shares in Spitfire had been an opportunistic acquisition with a view to diversifying the Group's activities. Following Spitfire's decision to suspend development of the Salmon Gums lignite deposits due to the uneconomic nature of the estimated return on capital outlayed, the Griffin directors concluded that additional value could not be realised in the near term from Griffin's investment in Spitfire.On the 30th December 2013, Spitfire purchased Griffin's total interest in Spitfire by acquiring 16,666,667 Spitfire shares for 5 pence per share.None of this requires that GFM board members should not be SRO board members.Interestingly, in 2011 or 12 - can't remember which - I asked Mr Ninkov what he felt about the prospects of the lignite project - he was confident that assets could be sold at a profit at that stage. Even now the company has renewed its license over the Salmon Guns Project area despite the difficulties in establishing a viable process to exploit the high oil content of these lignite deposits.Interestingly, the BOD at SRO are currently not claiming any fees or salary.....
burnchat
15 Apr 2018
Re: High score ? Intersting view TM , and why are our BOD still the BOD of SRO .?
Turkeyminder
15 Apr 2018
Re: High score ? Not sure what the board did wrong there - following is announcement in Annual Report 2008.The Company made a number of acquisition attempts during the year. On the plus side, in May 2008, the Company bought back its own shares from Citadel Investment Group, realising a gain of over $30 million. From the same seller Griffin was able to acquire, for £2.5 million, over 39% ofSpitfire Oil Limited, a company listed on the AIM of the London Stock Exchange. This company is attempting to economically extract fuel oils and other by-products from the huge Salmon Gums lignite deposit in Western Australia. This is a long term, high risk venture. But the economic rewards, should Spitfire Oil Limited be successful, will be enormous and Company transforming. So at time of making $30 million they speculated with £2.5 million - this didn't work out but led to a loss of approx $2 million - I'd be happy if they repeatedly lose $2 million out of $30 million profits from dealings outside of the main business.So many things become obvious through the 'retrospectoscope' - and oh how clever are the people that use it !!If you're not happy with the board why not just move on ?I don't see the board going anywhere soon - nor would I want them to...........
burnchat
14 Apr 2018
Re: High score ? And how do you explain away the SRO situation... ?
millwallfan
14 Apr 2018
Re: High score ? BC. Not sure many on this board would agree with your comments. There may be some slight retrace over the next couple of months (unless of course there is a major positive - e.g. Licence- or negative e.g. Zinc tanking) with profit taking pending half year results in late July but I think most accept that the new trading range is likely to be something like £1.28 to £1.45 until then. No-one else that I am aware of consider the Board to be anything other than honest and reputable. Whilst many of us would have liked to see a dividend announcement , as has been commented before the absence thereof only goes to further swell the coffers. If you actually look back I was suggesting as early as December that this might well be the case!!!! Like you I have been in since 3p days with a current average circa 27p so for one am exceedingly happy wit her the current position.
burnchat
14 Apr 2018
Re: High score ? The truth is GFM share holders will only ever make money from each other, nothing will ever come from the company. This means that SP needs to go up and down, currently the SP’s much more likley to go down than up. it pains me to say this but i do believe that the board are being dishonest with what the choose to communicate and they choose not to communicate... Sorry guys but it is how i see it. AIMHO So share holders make money off each other , the mine workers make money for working in the mine, the big question is who gets the jam, the answer to that can only come from an honest BOD.I have absolutly no complaints to make as i only started with a 3.5k investment all be it at a mere 3.5p. GLA
binjiou
13 Apr 2018
High score ? millwallfan,You have covered the four main areas of risk succinctly, but as for allocating a score for the level of each of those risks, I don`t operate like that. Suffice to say I have always considered GFM was the riskiest stock in my portfolio, and it has taken a long time to come good, so it suits me to take " early profit " . I concede that the company could bear a lot more fruit.Whilst AGM`s held in Bermuda are convenient for US holders, they are not convenient for most UK holders. I suggested to Roger Goodwin that they could host UK holders in London as an alternative. Roger wrote to me saying that an "investor day " was under consideration; that is the last I ever heard of the idea: fobbed off , and not impressed.
