Griffin Mining

GFM is now within 10 days of commencing production and as it has stock piled zinc ore during the mine construction period the company should be in a position to forecast with confidence that it will comfortably beat not only the brokers current forecast but also the later extrapolated projections prepared by me to reflect the prevailing higher zinc price. Those projections were for earnings of 3.33p this year and 12.1p for 2006.
The income will also facilitate a more extensive drilling and exploration programme, not just for more zinc, but also gold so there is scope for a steady and positive news flow after the 15 May production start date and the publication of their results around that time.
The shares have been overlooked by the market as the current price does not reflect the transition from pure exploration company to production/income producing status.

But this isn't blue sky. Its earning profits from its mine now.

I think I got barred for a few days for saying that all Financial Journalists were as honest as the day is long earlier in the thread - I suspect some control freak thought I was being ironic and stopped my log ins for seven days!

brianboru : Sensitive lot! Now you are back have you any views on GFM's lack of appeal? It's crawling back up oh so slowly , having skidded down all too quickly the other week. There are plenty of crap exploration stocks around which won't ever make a profit, and will more than likely go bust after a few cash calls; this one looks to be one of a very small number that should succeed in style. Or have I missed something?

I remember being in JKX some time ago watching the sp bounce around 40p.
They came out with good results and dropped to 36p & I started to wonder if
the market knew something I didn't.
Eventually I moved on and for no particular reason they flew.
I don't know when these will fly but this time I'll still be here when they do
as I'm sure they will sooner or later.

Sharesure

As you kindly offered to take any questions to the agm I'd be interested to
know with regards to the co.s recent comments on being on the lookout for other
opportunities/aquisitions are they:-
1. Only talking about China..

2. Looking for further exploration licences or actual working mines.TIA.

RPT 1,231 Low risk = 100 Very high = 700
BFC 594
PET 584 Reuters risk grades,
SEO 378
CDN 358
CEY 236
GFM 202
JKX 159

dibbles, will ask your questions. They were meant to have a deal going with the Indian state owned exploration business when there were plans to privatise it about 18 months ago. The gov. shelved it, but I'll find out if that is now not ever going to happen.
I have had stocks that the moment you turn your back on them, they fly. It's perverse! I just keep wondering if I have missed something on my research of GFM since I haven't uncovered anything that would suggest they will do anything other than produce profits from now on. I accept that there are always the political risks, ( I reckon reduced due to China being in the WTO and also hosting the Olympics, so wanting to show everyone that they know how to be part of the international community) and mining risks generally, but this mine is not that deep or in an unstable geological area.

aldwikk, where did your risk scale come from and was ZOX on it as they are in zinc production so would provide a benchmark?

ZOX 182 Risk grade. http://investing.reuters.co.uk/stocks/quote.aspx?symbol=zox

That's interesting that ZOX is regarded as slightly less risky. I thought they had still to build their smelting plant (raising further funds to do that?) cf GFM who haved achieved that and are now producing. I guess it is time to wait for events to unfold at their own pace, but unless there is some factor out there which I have missed in my research GFM still looks to be the better bet both in terms of timing and level of certainty.

Not one 'buy' today. Does anyone know if this stock is being bashed somewhere?

SEY risk- 164 ... @ only 16p!!!

Tempted to say so what, this thread is about GFM! Mining/exploration stocks generally seem to be no ones' favourite at the moment, but that just gives buying opportunities; in the end profits will drive the price up to the more appropriate level for those stocks that are worth investing in. there is a silver lining to the recent shake-out; alot of rival projects requiring funding will not proceed, driving up base metal prices for those able to meet the demand.

It's still one of mine although I wish it would get some real
publicity somewhere on it's prospects alone. No sign of Brian...???

aldwick,

thanks for that site, my three main shares have a risk rating of 215, 164, and 157!

GFM's PR team and their brokers have not helped much. apart from a bullish report from Chas. Stanley last December they appear to have resigned themselves to believing that they cannot do more; it leaves GFM's mgt. very exposed to an opportunistic bid at a price probably none of us would agree reflects the company's existing worth, let alone its potential.

450k x trade at 29p near the end of day..
I know most trades but not sure of an x trade, can anyone help?

Is it a cross trade from seller to buyer?

p.s.- Sharesure, thanks for that, lets hope they send you home from the agm
full of confidence.

X = Agency Cross where a buyer and seller are matched by the broker resulting in single price.
At 29p might bode well for tomorrow;

Optimism yesterday was obviously misplaced; GFM down a further 1p today seems to be without friends at the moment. I cannot see why, and neither has anyone been able to tell me anything untoward. Their PR team and brokers have alot of answering to do at the AGM, after all the mgt have done all they should do, the smelter is processing ore for the completion of the wet trial next Tuesday and after that it is into production of a commodity the Chinese need and currently import. So where is the problem which causes s/hers to want to move on elsewhere? I wish someone could tell me what I have not factored in.

What time is the AGM ?

aldwickk, 10.30 at 1 Greek St. just off the south-east side of Soho Sq. The building is called The House of St. Barnabas-in-the-Square. Hope to see you there. Usually there are as many shareholders as mgt. and advisers so there is plenty of opportunity to ask all the questions you want either during the meeting or before and after. Whether this year's meeting is better attended than previous ones, we'll see. It should be, if only because GFM has reached a crossroads from being totally exploratory to a mix of exploration and production. If you can't make it but want some questions asking, let me know tonight. Otherwise hope to see you there.