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.

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

If the Moneyam web site Shares mag. co. index is correct then yet again they have ignored GFM. I am sure you are right, Dynamite, that this will be a great share when the Brokers start putting some forecasts together. Personally, I think they need to really move forward their drilling programme since they have only properly looked at a fraction of their licence area.
aldwickk, the wet commissioning ie trial production is happening now for two weeks; at the end of that ie mid June, they should have their first batch of saleable zinc concentrate, and presumably a bit of gold too.

Do you think the mm's are now buying stock ahead of full production? it looks like they are playing games with the price.

Another drop below 28.4p and I'll be below my starting point
and looking to average down - you may have a point aldwickk

Some fairly hefty trades there at the end-150k x 3. Seems strange with all the
news/production coming.
Sharesure, at the agm could you ask if they are confident with regards to all
dealings with chinese gov.
For example bringing profits home/out of china.....TIA....

GFM confirmed that there was nothing untoward as far as them getting production going. Their brokers view was that they were being affected by the general reluctance to get involved in mining stock; unlucky timing, but in the end profits will speak for itself in the sp.

Dibbles, have asked about repatriation of profits before and been assured that there is no problem to that; if the yuan is revalued that will inflate the figures but those in turn will be affected by the zinc price being quoted in dollars.

All: If anyone else is unable to make the AGM and wants any questions asked let me know and I'll try to get some worthwhile answers.

Nice volume/weighted buy of 500k just gone through + some other reasonable buys. Still weird that 835k buys cf 297k sells equals a lower sp!

sharesure,

And afterwards 2 x 250,000 sells, to counterbalance the 500,000 VW.

Sorry but the sells are outnumbering the buys, that's why the price is falling.

I do wonder what is causing this, as I can't see any problem with Griffin at all, and they have done their minestart and confounded the doubters.

AGM next week, and not before time IMHO, they will have to put something out to the market soon if the price continues to fall IMO.