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.

The AGM is usually around the beginning of June. I did hear that it might be on the Friday, 10th June. I am confident that this year's AGM will provide much more information on the real value of what GFM has found and a timetable for drilling in new areas, particularly the southern end where they have already indicated there are richer gold deposits.

What a perverse market we're in. GFM's recent good news is rewarded with a weakening share price. This stock was plagued with shorting problems eminating from Frankfurt some time ago. It would be unjust if they were to be hit again by the same misleading information.Maybe when further drilling results come through that will catch out any shorters if they are trying the same again..

Just found out that the AGM is planned for the morning of Friday, 10th June in the West End. Expect the Board to announce more news then on both increasing production quicker than originally planned and the programme for assessing the gold reserves in the south of the permit area.

Another week and still Shares mag. ignores this stock! That's in spite of the company going into production this week.

sharesure, you sound as exasperated as a few of us did on the seo thread this time last year. then , just when you give up hope of ever getting a mention , tim freeborn does his fillyaboots full page spread!!!!

No doubt they will jump on-board once the sp doubles......
Strange how many sells their were today considering how close we are to minestart though each to his/her own strategy.......

bosley, I hope that you are right! But hasn't Tim Freeborn left to join Evolution?
dibbles, in my view it'll only double when the brokers do their stuff with giving proper updates to their forecasts. The last ones were based on lower finds, a lower zinc price and lower production target. If they don't produce something soon I reckon there will be plenty of calls at the AGM on the 10th June for them to be replaced by a more pro-active firm with maybe more clout with institutions. My concern is someone making an opportunistic bid for them and getting away with it. I still don't know if the company is aware of who bought the 15% RAB stake. The turnover suggests it is not being/has not been sold in the market.

yes he has , sharesure , and he has taken his tip with him. he is still very bullish on seo.

I've tried getting Shares mag re interested but they just won't play. They don't even factually report news from GFM, it's as if the company doesn't have a quote! Maybe a share tip sheet will pick them up, they need more exposure since they are too cheap on their current fundamentals.

Whats happening with GFM......we have now passed date when production should have started, but not a word....not a RNS from them sating few days delay or anything......im getting worried....if there's problems with component machinery, i wish they would tell us......it's just the silence.........

I am sure we will hear something soon as the chairman said in his statement ' All that remains now is for the market to understand and value the unique project and position Griffin has in China. We await the day.'

I think that day will be upon us very quickly :-)
Di

I hope you are right....lol

Report & Accounts were in yesterday's mail. No new information other than confirmation that everything is going according to plan. Wet commissioning which is going on at the moment involves putting the stockpiled ore through the system to test and produce their first zinc and gold (what a by-product to have thrown in for nothing!)
The Annual Statement mentioned that a lot more drilling is now going to happen over the next few months; that should produce some good newsflow as I think they are already confident that the existing gold finds will be enhanced by drilling further south in the same area + there is the olanned drilling between the various zones to confirm that they are linked.

all,

Yet another mining junior falling on lack of news, and yet, on paper, this looks like a strong hold/buy IMHO.

I has been waiting to take a position, buy every time I contemplate buying, it drops again!

I can only think the market is awaiting confirmation of full production before re-rating this stock.

At this price, it looks like a buy to me.

It has really strong support near 30p it bounces right off it towards 35p, im trying to time this one as well but, its a great long term buy IMO

1.1m Broker buy should kick this off to a good start on thursday. It cannot stay so overlooked for long

Andy
What are you waiting for then! Buy!

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