Mr Ninkov ... I have long thought you have built a super company, however as a small holder don't you think it time some attention was paid to the share price.

With $90 mil in the bank at this price surely you are in danger of being swallowed how about an increased dividend or at the very least a statement or two, by backs do not increase share prices. Market conditions are of course difficult but the present price is ridiculous.

I understand your frustration but it is the same with 99% of Aim stocks.
Many PI's are trapped in these shares and the MM's have no intention of letting the sp increase because if it does, people will lock in profits and the MM's don't want the shares, simple as that.

It has nothing to do with the company and it's prospects. There is nothing they can do at. All Aim and small caps will be sold off until the market environment improves and there is more liquidity around.

the moral of the story is once we get into a bear market sell all your small shares and stay away unless you want to day trade them of course. In this market all good news is ignored and the sp is hammered on any bad news.

So you see, not really anything the respective companies can do.

dealer ... many thanks for your helpful reply, however wouldn't an update or two make us feel we still had an operating business and might even improve the price.

selling small shares and staying away was very good advice.

tipton

what happened here? ..... this isn't a stock i really follow, but always thought it was a good little producer with a future

gold and zinc are has beens...tech is the one to be in like NTX

Someone told me only a few months ago that GFM was good buy at around 80p...?!

Check the news folks - production to recommence end of June 2009 - has to be good :>)))

its a long long time from March to June ...... I took this to be negative ..... though prospective take overs probably are more positive

Moving up steadily today, final results due shortly.

Will they keep the dividend at current levels ? that is the question !.

They certainly have enough cash to pay a dividend, cah balances as at 30/6/08 amounted to $84m.

No dividend but the sp is making a great comeback....should be good for the longterm.

Gold mine now open as promised.

One of my recent acquistions which seemed to have lost it's way,good mark up this am.

Tiddler to watch

Griffin Mining dropped p to 37p yesterday, but it could be worth keeping an eye on in the next few weeks. A mystery party is said to be doing the rounds in the Square Mile, approaching the AIM-listed groups larger shareholders to see if they would be interested in selling their holdings for a price of about 50p per share.

A cash rich debt free compamy in China,which has a mine,mainly Zinc but also Gold,Silver and Lead. Opened up at 42p.
cyril

why sell at 50p when this was well over a quid a year or so ago?

Agree but thats the news and has brought GFM back in vogue?
cyril

SP should start moving up on the back of record gold production and rising price of zinc.

Would be happied if the management were to make the market aware. I've been thinking of selling as i'm unhappy about the SPitfire situation,but will now hang on and see what comes of this news?
cyril

New production licence granted.
cyril

Nice One !!

sp has moved up steadily this week in anticipation of fresh JORC update next month, and news they are profitable once more.

12% today could it be the start of a re-rating,if so not bbefore time?
cyril

Licence approval to mine deeper has helped the SP

49p now lets hope we can break and hold 50p+
cyril

Ocean weekly Review - courtesy of Turkeyminder - posted on iii

"Below is direct lift from latest Ocean Equities weekly review

Griffin Mining - New Mining Licence Application Accepted and Caijiaying Returns to Profitability in September Quarter (Oct 27th)

News: Griffin Mining Limited (Griffin) has announced that a licence application to mine below the 1300 level at the Caijiaying mine in China has been accepted. The Company hopes to have it approved within the statutory 28 day period and has also announced that on receipt of the new mining licence, it will be publishing a new JORC resource statement.
Work will shortly commence to facilitate access to the lower levels of the mine in anticipation of the below-1300 level permit being received. Upgrade work to facilitate production increases in 2010 are also progressing with the installation of a second primary ball mill, new crushing circuit, tailings dam uplifts and the construction of a new tailings dam.

The Company also announced that following a successful restart in June and a positive quarter to September, the Caijiaying mine has returned to profitability. In these 3 months, the mine produced 6.8kt Zn, 1.35koz Au, 38koz Ag and 218t Pb.

Analysis: The approval of the deeper mining permit will be a significant event for the Company, as previous drilling has indicated higher grade zinc ore is at depth in addition to elevated gold values, which is particularly exciting for the future production profile.
We await the receipt of the mining licence with anticipation and assuming the new JORC resource statement will give us more information about the sub-1300 level resource, we will use it to re-evaluate our forecast production profile.

The Company has also given some production results and we have extrapolated these figures to try and determine the grade and tonnage profile that the mine has experienced over the September quarter, comparing this to our previous forecast.

Tonnes mined for the quarter of 114kt was 12% below our forecast, but zinc production of 6,783t was almost exactly the same as our forecast. We take this to imply that the head grade was higher than our forecast we estimate 6.25% Zn, and this is very encouraging for the rest of the year.

In contrast to the higher than expected zinc production, lead production of 218t was 29% below our expectation and silver production of 38,019oz was 16% below our forecast. However it should be noted that these metals contribute the least to the overall revenue (we estimate 3% and 4% respectively).

Probably the most surprising element of todays release was gold production of 1,351oz which was over 100% higher than our expectation and implies a head grade over the quarter of 1.44g/t Au against our forecast of 0.60g/t Au. This reflects Griffins previous comments about record gold production in July, and means that (we estimate) that gold has contributed ~9% of the total revenue for the quarter.

Using average LME prices and assuming that Griffin receives ~60% of LME (or precious metals market prices for gold and silver) for its metals, we estimate that attributable revenue for the quarter (after 60% ownership of the mine) was US$5.1m which is in line with our expectation. However, because of the higher than expected zinc grades (as we are assuming), we estimate that attributable operating profits were higher than expected at US$2.4m (we forecast US$2.0m). We have therefore adjusted our forecasts for 2009 and 2010 to account for: higher zinc and gold grades; slightly reduced tonnage for 2009 although we have kept 600kt ore processed for 2010; higher metals prices as dictated by the market.

These adjustments mean that we are now expecting attributable 2009 production of: 10.2kt Zn (previously 9.7kt); 350t Pb (previously 440t); 1,940oz Au (previously 910oz); and 60koz Au (previously 65koz), and 2010 attributable production of: 20.5kt Zn, 680t Pb, 4,130oz Au, and 122koz Ag.

We still lack visibility regarding Griffins smelter arrangements and so are currently limited to forecasting an operating profit which can be assumed as a mine-gate profit. We will seek further guidance from Griffins Management to be able to make these forecasts and consequently net profit and free cash flow forecasts in the near future.

Key Events: The receipt of the sub-1300 level mine permit expected in 28 days; Publication of the new JORC resource statement in parallel with mine permit; Initiation of mining"

Yes this mining permit has got the market excited,couple that with back in profit
and a JORC along with the permit. 28 days from the 27/10 is the 25th so just 2 weeks to go is my take,if so we could see some fireworks regarding the SP?
aimho
cyril

Nice northwards charge by the Griffin at the moment....

Taken from another board,excellent summary and a reason(already intended to top up) for me to more than double my holding's this am.

The last resource statement only 15% of Cajiaying was explored this was back in Jan 07

The Company has now completed approximately 52,700 m of underground diamond
drilling. The underground drilling used to re-estimate the resource covers less
than 15% of the entire resource area originally defined for the mining
feasibility study in 2002.

A new discovery in April 08

Drilling conducted during 2007 has defined a Total Mineral Resource estimate at
Zone II of 5.49 million tonnes of 3.2% zinc ('Zn'), 0.6% Lead ('Pb'), 0.3 grams
per tonne ('g/t') gold ('Au') and 24 g/t silver ('Ag'). This estimate was based
on ordinary Kriging and a cutoff of greater than or equal to 1% zinc. Gross*
contained metal in situ based upon these estimates for both indicated and
inferred resources include; 176,000 tonnes zinc; 53,000 ozs gold; 4.3 million
ozs silver; and 33,000 tonnes lead,

I expect the figures in the header will need updating in the next few weeks.

With nothing since these announcements a new resource statement is a long time coming.

Looks a no briner to me? IMHO
cyril

Yul Brynner ?....wasn't he an actor ?... rising zinc prices are also helping the sp.

Wasn't he king of Thailand (Siam)

Spot on !....further increases to come for the sp soon.

Further to the announcement made on 27th October 2009, Griffin Mining Ltd ("Griffin" or "the Company") has had its formal application for a new mining licence to mine below the 1300 level (number 100000222220090369) reviewed and the Ministry of Land and Resources has requested that a number of rectifications be made to the lodged application. The Company has begun work on these amendments and plans to re-lodge the application in the near future. This process has suspended the 28 working day period on day 11 and will resume at this point once the rectifications have been addressed.

So a delay to the application,frustrating but also positive in that these are reticfications which are being addressed,with news near future.They continue to produce adding to the not inconsiderable cash pile,so real worries imo.
cyril

Well the license is back on but they missed the Dec meeting,so next Date is just prior to the Chibese new year, which is 14th Feb.
cyril

Which is also Valentines Day - We could expect a really nice gift from an old flame !

Good news today.....sp bucking the general downward trend in stocks.

Yes thr long awaited deep mining permit,which will make way for a new resource update. Cheap as vhips imo?
cyril

I think that a lot of aim stocks will rise before year's end, perhaps not in a straight line...stocks never will, but Aim and the Main market could be on the verge of having several multibaggers. Griffin to me will hit the pound level again before year's end.

Superb resource update.....long mine life...roll in the profits Griffin !.

Yes and worth posting,all we need is the SP to clomb back to previous
leveHighlights include:



1. The addition of 4.7 million tonnes @ 6.7% Zinc, 0.9 g/t Gold, 34.3g/t Silver and 0.4% Lead to the Measured Resource at Zone III, containing:



318,000 tonnes of Zinc metal

19,000 tonnes of Lead metal

131,000 ounces of Gold

5,200,000 ounces of Silver



2. The following increase in the grade of the Indicated Resources in Zone III:



36% Increase in the Zinc grade

16% Increase in the Gold grade



3. The following increase in the grade of the Inferred Resources in Zone III:



51% Increase in the Zinc grade

90% Increase in the Gold grade





This Mineral Resource estimate includes a conservative recalculation of the resource at Zone III in light of the grade control drilling undertaken during the 5 years of successful mining operations at Caijiaying, with a reinterpretation of the structure of the ore bodies. The deeper Mineral Resources have not been included and will be evaluated in light of the proposed drilling program to be undertaken in 2010 which will provide a better understanding of the deeper mineralisation at Zone III.



Drilling along strike and south of Zone III, towards Zone II, is having success with several holes intersecting mineralisation over the IP anomalies that were located in the 2008 IP survey program. The results have provided the necessary confidence to commit to a 25,000 metre surface and underground drilling program in 2010 which may enable an estimate to be made to JORC reporting standards on the Mineral Resource located in the area between Zones III and II.










The 2010 Mineral Resource was estimated at a zinc cut-off of 1%. Tabled below is the summary of the recent up-dated 2010 Mineral Resource.









Metal Grade
Contained Metal

Category
Cut off
Tonnes
Zn
Pb
Ag
Au
Zn
Pb
Ag
Au





'000 t
%
%
g/t
g/t
t
t
Oz
Oz

Measured
1%
4,737
6.73
0.41
34.29
0.87
318,657
19,191
5,221,348
131,761

Indicated
5,999
5.85
0.35
32.48
0.81
351,052
20,787
6,263,912
155,724

Inferred
16,596
4.38
0.24
26.39
0.95
726,957
39,437
14,078,921
508,317

Total:
27,332
5.11
0.29
29.09
0.91
1,396,666
79,416
25,564,182
795,803




The information in this report that relates to the 2010 Mineral Resource estimates for the 2010 is based on information compiled by Mr Luke Marshall BSc Geology , Member AIG. Mr. Marshall is a full time employee of Hebei Hua Ao Mining Industry Company Limited, a subsidiary of Griffin Mining Limited. Mr. Marshall has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Marshall consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.



CSA Global Pty Ltd undertook a high level review of the resource model and found no flaws to the model or estimation.





A Mineral Reserve Statement for Zone III at Caijiaying is currently being calculated for inclusion in the annual report for 2009.



Chairman Mladen Ninkov commented



"The new resource statement provides for a 35 year mine life within just the defined shallow resources at Zone III at the increased throughput level of 750,000 tonnes per annum expected to be reached in the later half of 2010. This new resource statement ignores the deeper ore in Zone III, the new resources at Zone II and the significant resources believed to be contained in the large area between the two zones. This is a wonderful result for shareholders and their continued faith in the Company which, in addition to the cash balances of in excess of $65m in the Group, sets the Company up for a successful and exciting future."

cyril

GFM has overe the last week or so started to break out strongly,with AGM
imminent,it's well worth re-reading the Chairmans statement.

Chairman Mladen Ninkov commented

"The new resource statement provides for a 35 year mine life within just the
defined shallow resources at Zone III at the increased throughput level of
750,000 tonnes per annum expected to be reached in the later half of 2010. This
new resource statement ignores the deeper ore in Zone III, the new resources at
Zone II and the significant resources believed to be contained in the large area
between the two zones. This is a wonderful result for shareholders and their
continued faith in the Company which, in addition to the cash balances of in
excess of $65m in the Group, sets the Company up for a successful and exciting future."



cyril

Two people killed.....ouch......unexpected from such a good company......poor people....

Patience rewarded,reopening of mine,hopefully with the new machinery in place the extra production will make up for lost tome?
cyril

Griffin Mining Limited

Recommencement Of Operations At Caijiaying

8th December 2010.


Further to the announcements made by Griffin Mining Limited ("Griffin") since
9th of August 2010, Griffin is pleased to announce that having satisfactorily
dealt with all official recommendations for safety improvements, Griffin's local
Chinese company has received formal approval from the Zhangjiakou City
Government and the Zhangjiakou Safety Bureau to re commence mining activities at
the Caijiaying mine. With electrical power having now been restored, mining and
processing operations have recommenced at Caijiaying.

And further to yesterdays news.
cyril

Further to the recent announcements made by Griffin Mining Limited ("Griffin"),
Griffin is pleased to announce that not only have mining and milling activities
recommenced at the Caijiaying Mine, but that approval has now been granted by
the Chinese authorities, in conjunction with the previously granted mining
licence, to process up to 750,000 tonnes of ore per annum through the fully
commissioned upgraded mill. Formal approval of the upgraded processing design
is expected in the new year upon the completion and submission of the design of
the already constructed new processing facilities by a recognised Chinese design
institute. With the upgrade of the processing facilities completed, Griffin
anticipates that ore extraction and milling rates will reach the equivalent of
750,000 tonnes of ore per annum by the Spring of 2011

This will now climb...I'm convinced of it....as all the gremlins are out of the way.....

Griffin is pleased to announce lots of silver and gold

http://moneyam.uk-wire.com/Article.aspx?id=201012150700129441X

http://moneyam.uk-wire.com/Article.aspx?id=201012150700129441X

Those silver results should be in grams/tonne? Still a great result and know for the rewards?
cyril

Way undervalued.....my guess is that the sp will return to 100p by late spring !.

d'accord ,,,,,l sold this old chestnut at about 120p a couple of years back; and a lot of work has occured since then so would tend to err on the side of undervaluation. ln saying that it would appear much of the good news is already factored into s/p ... l hope i am wrong ,of course, but was 32p quite recently ......Au grades are good in parts but Aug grades are nothing worth writing home about ,,,,,,,,but demand for silver in China has increased at an annualized rate of 22% over the past ten years ,,,,,

Production of zinc and other metals is now set to increase quite rapidly....to me this should drive the sp upwards....

big news out high grades

DJ Griffin Mining Ld FURTHER NEW DRILLING RESULTS FROM CAIJIAYING

TIDMGFM

RNS Number : 1759Y

Griffin Mining Ld

17 December 2010

Griffin Mining Limited

Further New Drilling Results from Caijiaying

High Grade Gold Results

17th December 2010

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce further excellent results from its ongoing drilling programme at Zone III which continues to discover extensive high grade zones at its Caijiaying zinc gold mine in North East China. Very high-grade gold mineralisation was identified in extensions of both the Julong and Qinglong ore bodies. Better gold assays included:

12.30 metres @ 16.2 g/t Gold with 4.68% Zinc & 67 g/t Silver

16.15 metres @ 10.0 g/t Gold with 6.26% Zinc & 60g/t Silver

10.65 metres @ 10.2 g/t Gold with 5.9% Zinc & 27 g/t Silver

10.10 metres @ 17.9g/t Gold with 10.97% Zinc & 80g/t Silver

25.80 metres @ 6.4 g/t Gold with 6.47% Zinc & 35 g/t Silver

15.70 metres @ 4.3 g/t Gold with 1.98% Zinc & 47 g/t Silver

02.20 metres @ 127.5g/t Gold & 299g/t Silver

Significant high grade gold intersections are shown in the following table

Caigaiying which began life primarily for GFM as a zinc play released stats many years ago reg. silver and gold resource; but very few investors appreciated that one day they would come into play. Perhaps understandable when the Chinese were literally q/ing and hammering at their door for every bit of zinc GFM could spew out ...........but gold was a mere $300 per t/oz then, and silver a tiny fraction of todays price....................A totally different story today.....

Confirmation that the Silver grades were grams,doing wonders for the SP,anyone care to work out the revenues for 750ktons. Yes RField, 100p a distinct possibillity in near future.
cyril

$442,500,000 0r 750,000,000 gram 0r 26,455,471 ounce @ .59p per gram

big number coming in noe wow news out 3 x in one week

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce further excellent results from its ongoing drilling programme at Zone III which continues to discover extensive high grade zones at its Caijiaying zinc gold mine in North East China. Additional very high-grade zinc mineralisation was identified. Better zinc assays included:

100p plus coming soon....100% sure.....

is every one sleeping on here field you try to give them a good company and no one even looks at it ,what the fuck no more .

Looks like a good one and the profits in a years time will be enormous if everything goes to plan...

well i be here till 1.50 then maybe if there are no sins of a take over may take some money off the top play it as i see it good luck

Yes this is now a monet making machine,here's the grades for those who have seen them,"stunning".
cyril

High Grade Zinc Results

21st December 2010

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce further excellent results from its ongoing drilling programme at Zone III which continues to discover extensive high grade zones at its Caijiaying zinc gold mine in North East China. Additional very high-grade zinc mineralisation was identified. Better zinc assays included:


28.10 metres @ 10.66 % Zinc with 52.29 g/t
Silver, 0.50% Lead & 0.85 g/t Gold
21.30 metres @ 17.25 % Zinc with 54.14 g/t
Silver, 0.42% Lead & 0.21 g/t Gold
21.20 metres @ 22.80 % Zinc with 83.66 g/t
Silver, 0.65% Lead & 0.78 g/t Gold
14.85 metres @ 32.81 % Zinc with 123.30 g/t
Silver, 1.08% Lead & 0.23 g/t Gold
12.70 metres @ 18.34 % Zinc with 95.85 g/t
Silver, 1.08% Lead & 0.16 g/t Gold
10.45 metres @ 18.50 % Zinc with 93.92 g/t
Silver, 0.74% Lead & 1.44 g/t Gold
11.20metres @ 16.26 % Zinc with 50.14 g/t
Silver, 0.21 % Lead & 1.39 g/t Gold
10.15 metres @ 14.23 % Zinc with 67.01 g/t
Silver, 0.67% Lead & 0.50 g/t Gold
9.95 metres @ 19.40 % Zinc with 56.75 g/t
Silver, 0.50% Lead & 0.47 g/t Gold
9.66 metres @ 11.63 % Zinc with 33.81 g/t
Silver, 0.62% Lead & 0.08 g/t Gold
6.90 metres @ 27.37 % Zinc with 115.74 g/t
Silver, 0.79% Lead & 1.67 g/t Gold
4.00 metres @ 33.52 % Zinc with 124.81 g/t
Silver, 1.79% Lead & 0.29 g/t Gold
4.40 metres @ 27.45 % Zinc with 113.17 g/t
Silver, 0.91% Lead & 0.07 g/t Gold
4.00 metres @ 17.50 % Zinc with 56.28 g/t
Silver, 0.65% Lead & 0.38 g/t Gold
4.00 metres @ 17.31 % Zinc with 62.82 g/t
Silver, 0.75% Lead & 3.31 g/t Gold
4.00 metres @ 18.09 % Zinc with 279.75 g/t
Silver, 0.01% Lead & 0.20 g/t Gold

Significant high grade zinc intersections are shown in the following table.


From To Interval Zinc Silver Lead Gold
------------ ------- ------- --------- ------ ------- ----- ------
Hole No. (m) (m) (m) (%) (g/t) (%) (g/t)
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-856 75.00 80.60 5.60 24.91 30.10 0.10 0.57
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-951 22.40 32.85 10.45 18.50 93.92 0.74 1.44
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-952 17.65 24.55 6.90 27.37 115.74 0.79 1.67
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-953 1.00 10.95 9.95 19.40 56.75 0.50 0.47
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-997 11.80 33.00 21.20 22.80 83.66 0.65 0.78
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1041 13.15 25.85 12.70 18.34 95.85 1.08 0.16
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1048 19.80 41.10 21.30 17.25 54.14 0.41 0.21
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1093 1.00 15.85 14.85 32.81 123.30 1.08 0.23
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1107 84.10 88.10 4.00 33.52 124.81 1.79 0.29
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1129 29.20 33.60 4.40 27.45 113.17 0.91 0.07
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1483 59.00 70.20 11.20 16.26 50.14 0.21 1.39
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1483 99.85 110.00 10.15 14.23 67.01 0.67 0.50
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1623 104.00 132.10 28.10 10.66 52.29 0.50 0.85
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1701 173.00 177.00 4.00 17.50 56.28 0.65 0.38
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1715 14.00 18.00 4.00 17.31 62.82 0.75 3.31
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1721 0.00 9.66 9.66 11.63 33.81 0.62 0.08
------------ ------- ------- --------- ------ ------- ----- ------
UGCJY-1729 46.00 50.00 4.00 18.09 279.75 0.01 0.20
------------ ------- ------- --------- ------ ------- ----- ------

Competent Person Statement

The data in this report that relates to Exploration Results for the Caijiaying Area, China, is based on information reviewed by Mr Jack Drzymulski who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Drzymulski is a full time employee of Hebei Hua Ao Mining Industry Company Limited. Mr Drzymulski has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Drzymulski consents to the inclusion in the report of the Exploration Results in the form and context in which they appear.

Mladen Ninkov, Griffin's Chairman, commented on these drilling results as follows: "Caijiaying continues to produce everything the Company hoped it would. No more needs to be said."

http://www.investegate.co.uk/Aeticle.aspx?id=201101170700084976Z

Excellent update,30 year mine life.

Chairman Mladen Ninkov commented, "Caijiaying continues to deliver on its promise as an extensive, long life and highly profitable mineral system. The shareholders should continue to enjoy the benefits of this mine for a very long time."

Most encouraging and real prigress expected next year.

Trading Statement


INCREASED PRODUCTION



Griffin Mining Limited ("Griffin" or the "Company") is pleased to report an increase in production at its Caijiaying zinc-gold mine in China in the year ended 31st December 2010 despite the suspension of operations for almost 4 months at Caijiaying from September to December 2010.



In summary:



389,496 tonnes of ore was processed, compared to 276,880 tonnes in 2009, a 40.6% increase;



22,044 tonnes of zinc metal in concentrate was produced, compared to 17,167 tonnes in 2009, a 28% increase;



7,067 ounces of gold in concentrate was produced, compared to 3,726 ounces in 2009, a 90% increase;



157,679 ounces of silver in concentrate was produced, compared to 89,222 ounces in 2009, a 77% increase; and



690 tonnes of lead in concentrate was produced, compared to 500 tonnes in 2009, a 38% increase.


Commissioning of the newly expanded processing facilities to process in excess of 750,000 tonnes of ore per annum has been virtually completed. Mining and haulage of ore has also been increased to meet the expanded processing capacity of the mill.


Mladen Ninkov, Griffin's Chairman, commented: "Despite the suspension of activities at Caijiaying in September through early December following the deaths of two employees of the mining contractor, Caijiaying still managed to outperform what was achieved in 2009. With increasing metal prices, the completion of the plant upgrade and a full year of operations in front of us, I am looking forward to significantly better results in 2011."

Massive profits to be made this year...RF says : buy !.

Results include 2 months lost production,so with higher capacity usually leads to lower cost,s meaning as you say "greater profits".

Worth 120p.....

"Worth 120p......." yeah right, any basis for that or just plucking numbers out of thin air......

Explosive you have figures today for 4months output,we have greater capacity which helps explain some of the extra output.So you can add at least 50% to those figures,as the CEO states "significant increase"for 2011.
Goto kitco.com and you'll get prices for gold,silver,zinc and lead,thenyou can do the maths.

Niceonecyril has put it better than I could have.....

Just think your premium is a little ott, I'm bullish on GFM however a double dip recession come Q1 results would result in dollar strength and also a fall in metals demand (not including gold and silver). So you might be waiting a while for 120p, why get in now when speculation looms.

End 2009 USD
Total Equity + Liabilities $134,714,000
Shares In Issue then 181688497
Equity Per Share $0.74
Exchanged @ 1.6 0.46

Current Share Price 0.66
Exchanged @1.6 $1.06
Shares in Issue now 178991830
Total Equity + Liabilities $189,015,372

Lets see how near the mark 2010 figures are, seams to me alot of todays statement ($50m) has already been written into the sp.

The increasing production with no more delays ...electricity cuts and sorts will feed through to the sp.....it will....

A few of points worth remembering are
1 Mining deeper for better grades
2 We've bought back over 2m shares since jun
3 Better prices since the june 2010 interims.

Those results

Griffin Mining Limited ("Griffin" or "the Company") is pleased to publish its interim results for the six months ended 30th June 2010.



Financial and Trading:



The results for the six months ended 30 June 2010 show a pre-tax profit of US$8,658,000 compared to a loss in the six months to 30 June 2009 of US$1,354,000, when operations at Griffin's Caijiaying Zinc Gold Mine in Northern China were suspended for much of the period.



An operating profit of $11,201,000 was achieved in the first six months of 2010 compared to a loss of $4,696,000 in the first six months of 2009, when operations were suspended. 260,317 tonnes of ore were processed at Caijiaying in the six months to 30th June 2010, compared with 81,281 tonnes of ore in the first six months of 2009, to produce 15,101 tonnes of zinc metal in concentrate (2009 3,243 tonnes), 4,570 ounces gold (2009 617 ounces), 105,475 ounces silver (2009 20,003 ounces) and 441 tonnes of lead (2009 144 tonnes). Zinc and gold production in the first six months of 2010 was a record for any six month period at Caijiaying, with increased ore mined and processed and better grades.



Upgrade of the processing facilities to a minimum capacity of 750,000 tonnes of ore per annum is on schedule and virtually complete with commissioning of all the main items of equipment in August 2010. Subject to the temporary suspension of mining operations from 9th August 2010 following the tragic death of two employees of the mine contractor at Caijiaying, mining and haulage rates are being increased to meet the increase in processing capacity.



With the lower levels of the mine being accessed, costs have increased with increased development work ahead of planned increase in extraction rates. As extraction and process rates increase with the completion of the upgrade of the processing facilities, the cost per tonne of ore mined and processed and metal produced is expected to fall.



The results for the first six months of 2010 have been impacted by foreign exchange losses of $3,061,000 arising mainly on sterling bank deposits.



Griffin has a 39.2% equity interest in Spitfire Oil Ltd ("Spitfire"). Full provision has been made in the interim results for Griffin's share of Spitfire's losses of $127,000.



Griffin held cash balances of $67.1m as at 30 June 2010. This places the Company in an enviably strong position to continue its strategy of identifying acquisition opportunities to broaden the resources and geographical profile of the Company.



In line with previous years and the Company's policy of determining annual dividends at the time of the Company's full year results, the Board of Griffin has not declared an interim dividend.





Chairman's Statement



"We have been delighted by the return to profitability following the global financial crisis in 2008 / 2009 and the continued firmness in metal prices. With the granting of the licence to mine below the 1300 level, new stopes are being developed to push mining rates to meet the increase in processing capacity on recently upgraded mill, crushing and tailings facilities and to access the increased gold available at these levels.



Unfortunately, the recent tragic fatalities at Caijiaying have caused a short term delay in increasing mine production. However, with the expectation that mining will be allowed to begin in the near future and the upgrade of the processing plant being completed, Griffin is poised to significantly increase production and revenues at Caijiaying in the near future.

Extraordinary developments continue to occur in China, including the development of major new cities through massive construction, new factories, power stations, wind farms, roads, railways and other associated infrastructure. This construction, continues to cause the very strong demand for concentrate from Caijiaying and is evidenced by the continuing recent falls in smelter charges by zinc smelters and metals traders.

NiceOneCyril - And valid points they are too, regarding power its worth reading

http://www.ndtv.com/article/world/china-plans-building-its-first-low-carbon-city-12987

in consideration with the kyoto agreement which China has signed upto.

.

A summing up by someone who attended the minesite presentation.


Didn't take notes but from memory

He brushed over the poor results of 2009 and 2010 as being down to recession and pit closure (the 2 deaths and power issues) as now behind them
2011 forecast revenue looked to be well up (2/3 times?) last years.
Loads of cash
Takeover enquiries (preliminary I guess). All rebuffed as the shares aren't where they want them to be yet. Thus the buybacks.
This week he was doing a roadshow with institutions.

An entertaining presentation all round. Added a few!

http://www.minesite.com/fileadmin/content/pdfs/Minesite_Presentations/Feb_2011/Griff.pdf

Well worth listening too.
http://www.youtube.com/user/sharecrazytv#p/u/18/ltrO891qGU4

I reckon that GFM are overdue a big rise....zinc holding up well, with big increase of capacity plus gold production due to rise as well.... and they have bought back loads of shares....

http://www.investegate.co.uk/Article.aspx?id=201102100700079480A

Worth re-reading the above again,higher output,hifger grafes,greater reserves,record commodity prices and the SP low.Been holding for sometime with a couple uf top ups sub 60p,trades now going through at 62p,so looking good?

Looks like a breakout.....perhaps...something we said ?....

Lets hope so,looks like a no brainer to me, 2 months since the last trading news and full year results due in the not too distant future?

don't expect too much from forthcoming results as mine was closed for several months in second half of 2010 due to enquiy into the death of two mining contractors.

Halifax, from the above RNS(post 76.),

Griffin Mining Limited ("Griffin" or the "Company") is pleased to report an increase in production at its Caijiaying zinc-gold mine in China in the year ended 31st December 2010 despite the suspension of operations for almost 4 months at Caijiaying from September to December 2010.



In summary:



389,496 tonnes of ore was processed, compared to 276,880 tonnes in 2009, a 40.6% increase;

noc as you should remember the mine was closed down for most of the first half of 2009 so production comparisons are rather meaningless. It would be rewarding to shareholders if they could remain in production for a complete year and then we could assess whether this is a worthwhile investment or not.

It's what's going to happen, not what has happened that matters with this mine .

rf do you know what is going to happen in the future? so far shareholders have not been rewarded, not easy to do business in China.

I'm convinced that 100p is on the cards again, all points to a serious increase in the value of this company.....hop aboard on monday morning for the ride....(:))

rf already on board so far have not been rewarded.

The production time for the 2 years 2009/2010(year end) wasrougjly 7and 8 months respectively,so about 14% longer in 2010. The reason for greater output is the is the
greater capicity along with higher grades,resources(30 year mine life)and of course the record commodity prices.The following RNS along with the prevous i posted will confirm this,so i'm confident that we will be impressed by the full year figures due shortly? In fact themanagement have bought more than 3m shares back this year,some at prices as high as 68p,which seems a very positive postion? Just my understanding of where we are?
regards


http://www.investegate.co.uk/Article.aspx?id=201101170700084976Z

.Wrong thread.

http://www.investegate.co.uk/Article.aspx?id=201105040700118575F

F/results above from earlier?

10th May 2011.


Notice of the Annual General Meeting of Griffin Mining Ltd ("the Company") to be held on 9th June 2011 is being sent to shareholders and is available on the Company's web site on www.griffinmining.com.

A report back from a PI who attended the AGM.

Anyway, meeting attended by about 30 shareholders 90% of whom were of pensionable age.

MN and RG were only directors present - apologies from DB and WM who were absent due to coincident alternative AGM and postoperative recovery respectively.

MN kicked off promptly with a shortish presentation of where GFM stands. This was a precis of Minesite presentation with a few 'nuggets' added.

OUTPUT of ORE is already UP at 830,000 tonnes per annum and is continuing to improve with continual modification and improvements of processes. MN stated he is confident that this will move up to or close to a rate of 1,000,000 per annum over the next 3 months.
The intention is to then further increase to 1.5 million per annum.

Drill rigs continue to be busy - 6 rigs 24/7 and at times up to 9 rigs 24/7. The main news here is that wherever they drill more resource is found and although the lab results are not complete yet the indications are that the erstwhile presumption of continuity of zones II and III is very close to being PROVEN - THERE WILL LIKELY BE A RESOURCE UPDATE IN NEXT 3 MONTHS.

APPLICATION for mining licenses for Zone II and the area between Zones II and III are in progress.

One slide illustrated the proposed closure of a number of very significant big mines in the 'Zinc World' over the next few years with very few new mines about to come on line - the indication being that the Zinc business should be a good place to be.....

MN discussed the 'agonising' decision to withold dividend this year - long board discussions/arguments but stand by decision and feels it will pay 'dividends' from Chinese in next 6 months - more later.

Moving on to questions - not an easy ride - most, if not all, challenged/questioned board decisions. Couple of questioners were clearly impressed with their own importance - telling us of their alma mater - Oxbridge of course - but MN (mainly) and RG answered all questions patiently, precisely conclusively and in good humour.

1) Number of questions on buy-backs - have bought and will continue to buy to support share price whenever it appears undervalued - clearly 'undervalued' is open to interpretation and is dependent on market conditions as well as what is happening at Caijiaying.

2) why given the vast potential of Caijiaying is the board messing about with possible acquisitions around the globe?

Two facets to this answer - firstly, potential benefit of spreading risk with ventures in different geograhical locations although MN still feels that most potential ventures remain overpriced and, although fearful of a double-dip, he sees this may provide some opportunities. MN did admit that his nature does not facilitate the acquisition process - being over-cautious. Secondly, the possible use of cash focuses the minds of joint venture partners. BOD would love to buy out the JV partners - but would not be able in any event to buy out the Third Geological Brigade who hold 2.5%. However the Zhangjiakou City Government form the major part - 37.5% - of JV and despite National Government being very wealthy with trillions in overseas currency and bonds, the local government vis ZCG, have huge debts and for the first time have approached the BOD WITH A VIEW TO A BUYOUT - previously approaches have been in the opposite direction and, as we know, have floundered for various reasons. MN stated that he felt there was a good chance of some sort of conclusion to this process in the next 6 months but that it would be a convoluted process.

3) why has the BOD wasted time and money on Spitfire Oil? Why not get rid?

MN adament that SRO is not a waste - could sell it today at a profit. The technology for exploitation of lignite has been developed by a third party. There is new technology available that would allow exploitation at much lower capex. Previous studies show process to be viable at $100 per barrel oil price if by product is sold, $130 per barrel if by product not sold - market for this uncertain. Figures for the application of the new smaller scale technology are yet to be determined. This most likely to occur with JV. (new)

4) Power supply.

Have fully assessed possibility of own generators - very costly for something that may never be used.

Instead have persued listing as a vital industry for the province and this should bring the promise of no power cuts

5) Hong Kong listing - will occur on the back of some meaningful transaction - whether fund raising or future acquistion. MN stated there is no point listing for its own sake - raises problem of or lack of tradeable stock.

6) Gold wastage - failure of capture of all mined gold was noted by a questioner - obviously company aware of this and are trying to chase down exact structure of gold ore to enable more complete extraction - may result in production or dore bars on site.

7) Challenged over waste of money associated with hedging - defended well and stated intent to hedge in future if it seems approprite.

8) Ivernia - the Magellan mine was mentioned during discussions on failed acquistion - MN was looking directly at me as he spoke of the mine and I specifically asked whether it Ivernia is still on the radar - answer yes. He explained a synergy that I hadn't appreciated - Ivernia, having been in financial difficulties for some years, on one occasion raised $20m dollars with an agreement to supply half of their production to China - producing a negative affect on future profitability - GFM in MN mind would be ideal managers of Magellan mine - promised lead could be sourced and shipped from Caijiaying thus making substantial transport savings - will it happen - who knows. Sentient have sunk a lot of money into Ivernia. GFM have approached Ivernia directly and via investment banks and so far no positive reponse. The game continues - Magellan mine is on care and maintenace for the foreseeable future. (If GFM took over the lead would be smelted on site)

I'm getting a bit stir crazy here - I think I've covered most of import.

In summary, I was very pleased with what I heard. MN and RG are/were very professional, were patient, considerate and direct with their answers to questions. They appear honest and trustworthy and I have full confidence in their abilities and intentions.

At the end of the meeting was opportunity to meet with MN and RG over coffee. Introduced myself to RG he appeared to recognise my name from previous phone/e mail contact. It is clear they keep an eye on bulletin boards - as he said it gives them a clue as to questions they may be facing. Was not impressed by the chap who attended last year and then complained about their dress sense - I wonder who that could have been? For the record, they looked the part yesterday!!

I will add to this if anything more of note comes to mind

Thanks for that, much appreciated

http://www.investegate.co.uk/Article.aspx?id=201109060700086558N

Highlights:



Increased revenues of $33.9m (2010 $27.0m)



Increased operating profit of $15.4m (2010 $11.2m)



Increased profit before tax of $17.9m (2010 $8.7m)



Increased profit after tax of $13.6m (2010 $6.8m)



Increased attributable profit after tax of $8.5m (2010 $2.0m)



Increased attributable earnings per share of 4.8 cents (2010 1.1 cent)



Reduced overhead costs of $5.5m (2010 $5.8m)



Record ore processed of 319,525 tonnes (2010 260,317 tonnes)



Record zinc metal in concentrate produced of 16,069 tonnes (2010 15,101 tonnes)



Record silver in concentrate produced of 117,036 ozs (2010 105,475 ozs)




Chairman's Statement



Chairman Mladen Ninkov commented, "The half yearly results provide clear evidence of the progress which has been made at Caijiaying and the resulting benefits to Griffin and its shareholders. The potential of Caijiaying has only just begun to be tapped with the recently upgraded processing, increased throughput and stabilized metal prices. The Company expects to produce even better results in the second half of the year.

Results could hardly be expected to be better. So why the drop in SP

Well I'm going seriously long with spreads and shares now......this used to be 100p plus a few years ago and now the big profits are rolling in !.

Thar she blows....just had to go up...plenty more to come from this baby....

Ten million pounds profit in six months....production increasing...zinc spot price set to rise....silver and gold adding to the total...market cap of 87 million pounds only....why the hell is this not 100p ?...

Cant be just you and I holding it - can it ?

Well, it used to be a darling of the stockmarket.....rising as we speak...must be tens of thousands of shareholders...

rf read the profit and loss account.profit attributable to shareholders in the parent company was only $8.5m(5.2m).

Well I haven't.....but the last rns was very upbeat to my way of thinking.....

CHINA MINING AWARD
Share this article
print
TIDMGFM

RNS Number : 6258R

Griffin Mining Ld

08 November 2011

Griffin Mining Limited

http://www.investegate.co.uk/Article.aspx?id=201111080700176258R


China Mining Award

8th November 2011.

Griffin Mining Limited ("Griffin") is extremely pleased to announce that its Chinese subsidiary, Hebei Hua Ao Mining Industry Company, has been awarded the "Best Project Development Award" at the China Mining Conference held in Tianjin China on 6th and 7th November. This prestigious award was given in recognition of sustainable development and expansion of Griffin's Caijiaying zinc gold mine.

Further information

Enjoy.

Mid-Term Investment Potential Zinc Sector Review

We think continued growth in zinc consumption, driven by double digit increases in the galvanising industry in China, will be concurrent with the market transitioning into deficit as supply moderates from 2013 due to the uncertain futures of a number of mature mines, declining inventories and tighter mine supply.

China Demand to Rebound: China is currently the worlds largest producer
and consumer of finished zinc, with 2011 consumption forecasted to grow at
13% to 4.7Mt, with production growth falling below 10%.
Global Demand Increase: Zinc consumption was up to 11.6Mt in 2010, and is
forecasted to be 12.2-12.4Mt in 2011.
Driven by Galvanising: Approximately half of all zinc is used in galvanising
finished steel. Chinas galvanising industry is on track to grow by 13% this year, increasing 2011 consumption by 100,000t. If China reaches a similar
consumption ratio for galvanised to finished steel as Europe and the US, an
additional 5Mt of zinc will be required.
Major Mine Closures: From 2013 onwards, operations such as New Brunswick
(Xstrata) and Century (MMG) will go offline as resources are exhausted,
removing approximately 2.5Mt of zinc production per annum from the market.
Tighter Concentrate Market: Vertically integrated mining and smelting
companies will be looking to acquire new mines or off-take agreements to
secure concentrate supplies, especially at this point in the cycle while the zinc price is low. We expect further consolidation in the near-term.
Niche Opportunities: As supply growth slows, recycling of zinc-coated steel in
Electric Arc Furnaces (EAF) is likely to rise, opening wider markets for current
and upcoming zinc recycling companies.

Industry Outlook and Catalysts

In the short-term, we see the market drivers for zinc including the restocking of inventories in China, weak growth in mine supply, and increasing demand as growth in the galvanised steel market continues. Smelter treatment and refining charges will be renegotiated in Feb12 and miners are likely to benefit from lower realised terms, reflecting tighter concentrate markets and concerns of maintaining high utilisation rates in smelters.

In the longer-term we see upside in the zinc market boosted by continued growth in Chinas galvanising industry, the closure of several large producing mines and continuing slow supply growth. With zinc consumption forecast to reach 14.9Mt by 2015, and over 2.5Mt of zinc supply to be lost from a number of mines due to exhausted resources, the market is likely to transition into deficit; by 2020, an additional 7Mt of mine supply will be needed to meet demand.

GFM flying(up 33% since start of year),with it's cash pile increasing production had to be one of this years safer investments imo,only the price of Zinc has geld this back and that's back up.

http://www.investegate.co.uk/griffin-mining-ld-%28gfm%29/rns/throughput-at-caijiaying--licence-at-zone-ii/201303070700194180Z/



7th March 2013



The directors of Griffin Mining Limited ("Griffin" or "the Company") are very pleased to confirm the approval for the doubling of mining and processing of ore at Caijiaying from 750,000 to 1.5 million tonnes per annum. The increase will include an expansion of the processing facilities, the underground development of Zone II and an expansion of the existing mining operations at Zone III. These developments are all subject to the successful granting of a mining licence over Zone II which is not expected to occur prior to the end of the first quarter of 2014.



Application for a mining licence over and including the area between Zone II and Zone III has commenced with the Geological Report and Resources Statement for Zone II being accepted by the Ministry of Land and Resources on the 28th of January 2013. Work has subsequently commenced on the boundary survey, feasibility study and environmental impact study which are all scheduled to be completed by the end of this calendar year. Application for the new Safety Permit tied to the expansion has begun and is expected to be completed during the fourth quarter of 2013. Work to access the new mining licence area via underground access has also already begun and underground development work will follow later this year to enable ore to be extracted upon granting of the mining licence. Development work has also already commenced to access the lower levels of the Zone III mine to further increase the amount of ore extracted. Preliminary works for the upgrade of the processing facilities will be undertaken in 2013 with the expectation of completing the upgrade by the end of 2014.



The development of the Zone II deposit and upgrade of the processing facilities is not expected to result in any interruption to existing operations. Development and plant upgrade costs will be funded from cash flow from existing operations with surplus cash flow directed to repaying existing Chinese banking facilities created to fund the acquisition of additional equity in, and the extension of, the joint venture in 2012. As a consequence of this need for internally generated cash flow, the Company does not anticipate paying a dividend in 2013.





Chairman's Statement



Griffin's Chairman, Mladen Ninkov, commented: "I am well aware of certain individual shareholders desire for the Company to begin paying dividends both for personal income requirements and the financial discipline such an action imposes upon management. No-one would be more pleased to do so. However, shareholders short term desire to have cash returned to them cannot cause an under investment in the future growth of the Company. In this light, Griffin's directors have concluded that further investment in Caijiaying represents the best use of Griffin's available resources. With a number of major world zinc mines reaching the end of their economic lives, the supply of zinc is expected to diminish and, hopefully, a rise in zinc prices will follow. Accordingly, it is expected that this further investment at Caijiaying will result in significant returns to the Company and to its shareholders in the future at which time the Company's dividend policy will be reassessed."

Well worth a punt with a M/Cap of just £50m,once commodities recover this compay should rocket? IMHO

http://www.investegate.co.uk/griffin-mining-ld--gfm-/rns/preliminary-results/201304110700280724C/

Hi NOC - I got my punt out some years ago and have long expected a return to 100p and over - I think you are right - I take it you are a Spurs supporter - if so good luck tonight although you havn`t got Garath to "Bail" you out. !

Like oak142 I got my punt out several years ago when despite much mention of rewards for share holders the directors seemed to have lost my address.

good luck to other holders Tipton11

don,t worry Mr Ninkov and his fellow directors are making plenty of money.

Time to re-consider this stoch,it will take a while but looks cheap at present?

http://www.bloomberg.com/news/2013-07-25/bullion-bear-market-seen-ending-zinc-s-7-year-glut-commodities.html

">

Come 5th Aug,this can be bought in a ISA.

http://www.investegate.co.uk/griffin-mining-ld--gfm-/rns/half-yearly-report/201308140700045748L/