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.

http://Griffin Mining

http://Griffin Mining ">

Tried to paste British bulls buy recomendation.

Aldwickk, that link didn't work; what did they reckon on timescale and value?

British bulls are chart based, only for short term traders.

Is this finally a good time to buy? Well, it depends. First check what happened at after hours trading and future values. Then, follow the next session very carefully and be on your toes. This candlestick pattern is a bullish one, but we have to see whether it will be confirmed or not.

Do you see a gap-up at the market open? Do you see a white candlestick forming with a higher close at the session's end? Shortly, is it a nice bullish day? If so, place your buy orders and open new long positions. The market is now on the bull side.

But, be careful, also. If you see a gap-down when the market opens, or if the session closes with a bearish sentiment producing a black candlestick characterized by a lower close, do not challenge the market. Ignore the BUY-IF alert. Cancel the buy orders and cover any new long positions that you might have opened. Bears are still in control.

[MOTTO OF THE DAY]
Buy only if the bulls are in charge
Forget about it if the bears surge

Thanks for the Bullshare piece. Shares magazine still did not report this company in spite of their results being issued before press date. Suspect they cannot ignore them next week and if their conclusions on Zincox are to be believed and they comment in a concistent way then they are certain to rate this a strong Buy at the current level. Anyone going to the AGM on 10 June in London? Might be well worth it.

Surely this sp should not be going down. The company confirms all that they said would happen has or is happening within the timescale and budget. It would be perverse if this company got caught up in any shake-out of exploration companies, particularly since it is a now fully funded producer with the cashflow to carry out any more exploration from its own resources.

Sharesure this is a crazy price for Griffin but it seems to me that it is being pushed up and down for short term traders. I think this is just a buying opportunity and I have just topped up again. Hopefully this will be the last time that Griffin sees this price. Once production starts it should really fly.
Di

Looks like the major ramper on advfn is now deramping under his other guise (tourtured soul) - I'm undecided whether to pull the plug myself - chart looks non too good!

Sod the charts and the derampers...Griffin has been the only miner to my knowledge that has kept its promises todate. Have patience it will not stay below 30p for long. The potential is huge.
Di

Do you mean Raven ?

Aldwick there are so many Derampers on Advfn it is like a mad house reading the posts on there for any stock...not worth reading except occasionally some one gets hold of proper info.
Di

Reassuring to hear from you all and know that there are others who rate this stock; I have no intention of selling my shares unless there is some big change in the news, either with the company or China. The chairman has always claimed that on the basis of what they originally found the value/share was 100p. But since then they have improved their find and the zinc price has gone up; it defies logic that the sp remains so flat even if the chairman's view is ambitious.
I heard a comment that local Chinese are prepared to pay a considerable premium for local supplies of zinc to save the cost and logistics of importing it so there should be an instant and easy cashflow from the processing now happening. The company's broker seems to be very pedestrian in getting the company the recognition it deserves. Maybe a weekend paper will do the job for them.

The Investors Chronicle made a mistake stating Griffin had no gold licence. They got it wrong. I spoke to Griffin and they said they have a gold licence. The IC said they would print a retraction this week.

GFM (along with many others) appears to be suffering from forced selling by the hedge funds.
It seems they heavily invested in commodity related AIM funds months ago, however a fortnight ago they (or some of them) were badly burnt in the corporate bond market when GM's bonds were downgraded, forcing them to raise lots of cash in the market. To do this they had to sell some of their recently aquired AIM stock - hence the fall in AIM stocks across the board as the mm's knew they had them by the short and curlys.
The question for GFM holders now is just how badly the hedge funds are burnt and whether they will have to continue their dumping of stock. Not an easy call for us retail investors who will only find out a fortnight or so after the boys in the City!

Well Brian...I can see how that would affect GFM's price but any day now we are gong to hear that full mining production has started so I woul have thought that the Hedge funds will opt to dump other longer term mining stocks. Either way the price will rise once mining commences IMHO
Di

Hopefully!
I guess it's a testament to GFM's quality that it hasn't fallen further as the hedge funds have apparently been forced to sell their best quality AIM stocks first. (The crap stuff was marked down too fast by the all knowing mm's and the only buyers of the rubbish were short sellers closing and some unfortunate Bulletin Board readers).

1 mil trade gone through as unknown - very interesting !!

We know that RAB sold their 15%, but do we know who's got it ?

No but I wish it was me :-(