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.

Nobull, The question you raise is a good one; if you aren't able to get to the AGM on the 10th I'll ask it for you. Up 'til now Mladin Ninkov/Roger Goodwin have been good at getting the right terms for GFM. They have the incentive of some quite highly priced options to ensure they don't miss out on opportunities.
If you cannot wait til the 10th Roger Goodwin, FD, is usually forthcoming if you call him.

Now Griffin really begins!!!;

Griffin Mining Ld
31 May 2005

Griffin Mining Limited



31 MAY 2005



DRY COMMISSIONING SUCCESSFULLY COMPLETED

&

COMMENCEMENT OF WET COMMISSIONING

OF CAIJIAYING PROCESSING PLANT


Griffin Mining Limited ('Griffin or the 'Company') is extraordinarily pleased to
announce that dry commissioning of the Caijiaying processing plant has been
successfully completed and wet commissioning has commenced with initial
production of zinc concentrate expected in mid June.



Mladen Ninkov, Griffin's Chairman, commented on these developments as follows:


'The Company has fulfilled its promise to its shareholders and the market by
commissioning, what the Company believes, is the first new foreign owned and
operated mine to be constructed in the Peoples Republic of China in the modern
era. This was achieved on time and on budget. The scale of this achievement
cannot be exaggerated. I congratulate all those who contributed to this
outstanding success including the long term shareholders, financial advisors,
consultants, contractors, government authorities, management and the directors.'





Further information



Mladen Ninkov - Chairman Telephone: +44(0) 20 7629 7772

Roger Goodwin - Finance Director

Griffin Mining Limited



Philip Davies Telephone: +44 (0) 20 7953 2000

Charles Stanley & Company Limited



Hugo de Salis Telephone: +44 (0) 20 7242 4477

St Brides Media & Finance Ltd



Griffin Mining Limited's shares are quoted on the Alternative Investment Market
(AIM) of the London Stock Exchange (symbol GFM).

Further information on Griffin Mining Ltd is available on the Company's web
site:
www.griffinmining.com



This information is provided by RNS
The company news service from the London Stock Exchange

Dynamite, Let's hope so. They deserve success. Just hope they don't encounter the attention of shorters trying to upset what should be a good run from now on. Are you going to the AGM on the 10th June?

Excellent news, everything on track ( I think one week delay is assumed after todays RNS?
I follow the stock on ADVFN, this is quite a decent thread too and doesnt suffer from the spate of non-GFM related posts on ADVFN of recent times.
Hedge Funds - no way of knowing if GFM were affected by them. Whatever, I have been buying over the last few weeks. In the 2nd Quarter china's growth remains over 9% for the year. ZINC remains a growth story and reserves continue to reduce.
IF! the stock has been attacked by a hedge fund, I believe that recent run on AIM stocks has been completed. The FT last week also said as much and the Hedge Funds had found equilibrium. IF so, and IF GFM were affected, you are looking at a deppressed price for a solid stock. all IMO of course and PS I see absolutely no enidence of Simon K ( Evel K) shorting GFM, Sinon's way is usually to announce his presence so you'd probably know it. HE's never posted.
H.

Hectorp,
That's reassuring re shorters; my concern was a repeat of last year's Frankfurt stock exchange debacle when the sp took a big hit. I would buy more in GFM but apart from being reasonably well represented in it I need to sell other things first.
GFM had confirmed to me there had been a one week delay for minor snagging issues; that is inevitable. What the company now seriously needs is a reliable broker update and, if possible, a few more new drilling successes; I guess the latter will come over the summer when they get the results from their newly acquired rigs which will be doing more work on the gold area + trying to establish with certainty the link between the various zones, partic. 2 & 3.
I am hoping that the AGM will be the time for a great deal more information on production targets + drilling programme.

Sharesure...I wish I could go to the AGM but never mind...I am sure it will be good. Griffin have consistently met all their targets and are set to make a lot of dosh. The agm should hold furtehr good news me thinks.
Di

Dynamite, I'll post anything I find out which is new from the AGM.

Thanks SS

This is weird. Not one buy recorded on the trade record, all sells bar one not known; and the sp rises a fraction. What is happening?

Weird indeed Sharesure - Normally you would feel that the MMs are collecting but the spread is not large enough to put off ordinary buyers. Any educated views out there ?

Absolutely none I'm afraid...
However, are these 'buys' and 'sells' being observed on stockwatch?
Only they don't always reflect, I've not long sold some RRS and it
was down as a 'buy'presumably as the bid was better at that time.

Just ticked down - probably my fault sorry - Jone will however, be a good month IMHO

Would be interested to know why you did sell if you are prepared to say. You are among a great many others today; according to the ticker there was only one buyer which is a little surprising given the company's confirmation that production is underway. I'm concerned that I have missed something; on the basis someone always knows something more, in this case about 50 others if the Trades are correctly being reported!

Oakapples, whatever you were going to post didn't get there.

Sorry I have nothing useful to say (probably as usual) but I do have faith in this company and am a indefinate hold

Oakapples, Had assumed that when you blamed yourself for the tick downwards you had been one of the sellers. This sp is behaving very oddly unless the company is being bad-mouthed somewhere else. I still find it odd that Shares mag. does not even report its annual results let alone offer a view while at the same time providing space for many more smaller cap or higher risk cos. If they are monitoring this thread maybe they would like to say why.

Sorry again - see now where you are coming from - Was taking the blame for drawing attention to the fact that there had only been one buy and a multitude of sells - felt the market had not noticed until we pointed it out !! lol
Much agree about Shares Mag - it hasn`t dropped through my door yet - so may be to-day is the day - probably not or we would already have lift off

The nearer it gets to full production the lower the share price goes, How long does wet commissioning take ?

I think it is weird that Griffin has dropped now but then alot of people have been in this from 3p so I cannot blame them. IMHO the price will rreally start to rise on the day of the AGM ...those that have the patience will make a fortune on this share. DYOR