Griffin Mining - golden future! http://www.basemetals.com/

GFM deserves a new thread after todays AGM. For the first time the venue was packed with shareholders, a tribute to the interest and support the company has for what the Board has achieved. For those unable to be at the meeting here are some of the points I noted which may interest folk on this BB.

Production: dry and wet testing now completed and zinc concentrate comes through the smelter next week. Zinc price on the LME is currently $1300/ton. GFM is being offered $1700/ton at the mine gate. This premium reflects the demand and difficulty local industry has in sourcing this basic metal ( As an aside the chairman reported that zinc is not easily and efficiently extracted as a recycled metal so newly mined zinc is always required). Cost of production is $595/ton ($700/ton if all depreciation costs are included). Labour costs are $1000/worker pa cf an Aussie underground worker of $130,000/worker pa. Apparently the 20m.pa worker migration from agricultural to industrial jobs means that there are queues of applicants wanting jobs at the mine; wage inflation is not an issue. 240+ employees on site to run the mine on a 24/7 basis.
Production can be increased w/o further investment for a throughput of 400,000 tons of ore pa; An increase to 500,000tons pa would require further investment of between $1m and $2m . All plant has been purposely over-engineered to ensure capacity can rise reliably and with back-up facilities (eg 3 boilers, 2 of which are back-up)
H&S is to world stds., setting an example to the rest of the Chinese mining industry which has a poor record currently because of the number of small private mines.

Reserves: 14.5years supply on current zone rising to 25 years in zone 3. Chairman showed an independent report which believes that the closure of many existing zinc mines is now producing a supply gap which will continue to improve the zinc price cycle to year 2012.

Profits: No problems known or foreseen to the repatriation of profits. However the chairman stated that the profits might achieve more for shareholders if the company uses these for further exploration and possibly buying back the companys shares. The latter move might help resolve the current shorting problem where it is thought that between 6 or 7 million shares are currently being shorted. This move could have a highly geared effect on increasing the share price and help deter the shorters/stock bashers from further activity.

Exploration: Chairman says company will be drilling a further 18,000m over the coming summer months and in his personal view he expects the company to steadily move towards becoming a gold mining concern, with some of the profits from the zinc smelting funding that work. An RC rig which costs 33% of the cost of a diamond drilling rig has been brought on to site.
Future exploration areas always being looked at + changes in Chinese Ministry of Land & Resources policy towards funding means that GFM will likely be offered many more prime government held assets in the near future.

Personal view is that GFM is a well and responsibly run mining company which is now likely to really grab a lot more attention as the profits start to flow as of next week. I am sure others on this BB at the meeting can fill the gaps where I have missed anything.

Fair enough, wishfull thinking on my behalf i guess

Griffin Mining Ld
11 July 2007

GRIFFIN MINING LIMITED

60 St James's Street, London SW1A 1LE, United Kingdom

Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773

E mail:
griffin@griffinmining.com



11th July 2007



GRIFFIN RAISES 75 MILION THROUGH PLACEMENT TO CITADEL



Griffin Mining Limited ('Griffin' or the 'Company') and entities affiliated with
Citadel Investment Group, L.L.C. ('Citadel') have agreed terms for a placement
of 68,181,818 million shares at 1.10 per share for total proceeds of 75
million. This will take Citadel's shareholding in the Company to 77,181,818
shares representing 29.51% of the enlarged share capital of the Company. Post
completion of the placement, the Company will have 261,509,549 ordinary shares
on issue. Admission of the shares to trading on AIM is expected by the end of
July following execution of a subscription agreement.



This will bring total cash balances in the Company to over $200 million with no
debt. The proceeds of the placement will be used for acquisitions and
furthering the Company's stated corporate objectives.



Citadel has agreed for a 3 year period:



1. not to acquire additional shares in the Company in an amount
that exceeds 5% of the outstanding shares of the Company in any 6 month period;



2. to grant the Company a right of first offer on any disposal
by Citadel's shares and the right to match any offer by a third party for any
such shares. In the event that Citadel offers any shares to the Company, the
Company will have three months to identify a buyer for such shares; and



3. that it will not make a takeover bid for the Company without
the support of the Chairman unless a third party first makes a takeover bid for
the Company.


The Company and Citadel also expect to cooperate as the Company seeks future
growth and expansion opportunities, including, with respect to potential
investments in China.



The parties have agreed that the Company should implement an appropriate
management incentive programme after the subscription. In furtherance of this,
the Board has resolved to issue a further 23.75 million options over the
enlarged share capital of the Company, exercisable at the subscription price,
the terms of which will be finalised with the finalisation of the Subscription
Agreement between the Company and Citadel.



Chairman Mladen Ninkov commented, 'This is a milestone for the Company. It
signifies the Company's status in the international investment community, it
recognises the Company's pre-eminent position in China and it provides the
financial means to undertake and complete almost any mining transaction the
Company can reasonably foresee. We could not be more pleased.'





About Citadel Investment Group, L.L.C.



Citadel is one of the world's leading financial institutions focused on
alternative asset management strategies. The Citadel group of companies employ
over 1,000 professionals at headquarters in Chicago and across its offices
around the world, including New York, San Francisco, London, Hong Kong and
Tokyo.





Further information


Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Griffin Mining Limited

Adrian Hadden / Christopher Rollason Telephone: +44(0)20 7523 8353
Collins Stewart Europe 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).



The Company's news releases are 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

This is still my favourite share and long term even more a winner now :-)
Griffin Mining Ltd
10 September 2007


GRIFFIN MINING LIMITED

60 St James's Street, London SW1A 1LE, United Kingdom

Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773

E mail:
griffin@griffinmining.com


10th September 2007

OUTSTANDING ZINC & GOLD DRILLING RESULTS

CONFIRMATORY RESULTS OF PROBABLE AMALGAMATION OF ZONES II & III AT CAIJIAYING


Griffin Mining Limited ('Griffin' or the 'Company') is pleased to announce the
latest exploration results from its Caijiaying Mine and adjacent ground.


Drill intercepts of high-grade gold have been obtained in the mine area at Zone
III as well as significant regional exploration results which suggest a second
multi-metal mine is likely to be established at Zone II, 1.2 kilometers to the
south of the Caijiaying Mine.


These results coincide with the planned start of production of gold, silver and
lead from the Caijiaying processing plant upgrade due for completion before the
year's end.


Best intercepts from Zone III included:


12.45 metres at 7.45% Zinc and 8.55 g/t Gold
12.35 metres at 8.31% Zinc and 6.15 g/t Gold
31.7 metres at 6.2% Zinc and 6.07 g/t Gold
4.3 metres at 17.54% Zinc and 20.65 g/t Gold


Best intercepts from Zone II included:


47.54 metres at 7.68% Zinc
28.25 metres at 9.20% Zinc
22.25 metres at 9.19% Zinc
12.6 metres at 9.15% Zinc


Zone III Mine Resource Extension Drilling


Diamond drilling aimed at extending known resources at the Caijiaying Mine
continues to find new discoveries. In particular, a number of high-grade gold
intersections have been recorded from zinc lodes beneath the current mining
level in the western part of the deposit. Better intersections in recent drill
holes include:


Hole ID From To Interval Zn Pb Ag Au
metres metres metres % % g/t g/t

UGCJY-938 43.70 95.90 12.45 7.45 0.30 74 8.55
UGCJY-939 67.75 80.20 12.35 8.31 0.22 30 6.15
UGJCY-940 46.00 58.35 2.20 6.61 0.05 37 6.22
UGCJY-875 45.20 47.40 2.20 17.14 0.34 59 9.85
UGCJY-854 55.00 92.95 28.60 7.30 0.53 54 2.41
UGCJY-922 49.05 77.65 2.15 6.49 0.16 33 5.77
UGCJY-857 41.00 43.15 4.30 17.54 0.53 162 20.65
' 53.55 57.85 4.30 6.79 0.17 32 4.94
UGCJY-855 61.45 96.15 31.70 6.20 0.04 23 6.07
UGCJY-895 4.30 36.00 5.30 8.80 0.04 38 3.77
UGCJY-811 44.40 49.70 14.00 15.69 0.79 52 1.86
UGCJY-913 71.00 85.00 14.00 5.03 0.29 10 0.32
' 91.00 101.00 10.00 12.90 0.43 17 0.16
UGCJY-846 48.00 59.00 11.00 11.20 0.35 18 -
' 67.00 73.00 6.00 8.45 0.18 11 -
' 98.00 112.00 14.00 8.10 0.09 49 -
UGCJY-908 48.00 61.00 13.00 10.00 0.11 69 3.10


Many of the ore zones show good geological continuity and remain open along
strike and down-dip. The mine schedule will be altered to enable further
drilling in these areas to determine the full extent of the gold zones and to
ensure that the precious metals circuit of the process plant is fully
commissioned before treating such high gold grades.


Regional Exploration


Excellent drilling results have also been received from the ongoing underground
drilling program at Zone II, located approximately 1.5 kilometres south of the
Caijiaying Mine.


Thirty-seven holes of the 50-hole program have been completed, with ore-grade
results received from thirty-six of those holes. The high grade results of lead
and silver should be noted. Following completion of the program, a maiden
resource estimate will be completed to enable development decisions to be made.
Better intersections (above 5% Zn + Pb and a 1% lower cut-off) are shown:



High-grade Drilling Results - Zone II

Hole From To To Zn Pb Ag Au

metres Metres Metres % % g/t g/t
UGFOX-002 40.72 45.90 5.18 5.11 3.99 106 1.07
UGFOX-004 87.20 90.50 3.30 5.36 - - -
' 142.54 145.87 3.33 0.95 7.38 246 0.79
UGFOX-007 119.55 122.60 3.05 5.92 - - -
UGFOX-013 28.55 36.10 8.45 1.08 4.2 94 -
' 93.00 115.25 22.25 9.19 - - -
UGFOX-014 28.68 34.50 5.82 8.38 4.32 92 1.21
' 103.20 113.10 9.90 11.71 - - -
UGFOX-018 144.70 156.30 12.60 9.15 1.37 51 0.66
UGFOX-022 101.95 105.67 3.72 5.14 - - -
UGFOX-031A 51.82 55.22 3.40 4.44 1.94 51 1.22
' 134.01 181.55 47.54 7.68 0.61 28 0.21
' 134.01 140.70 6.69 12.07 0.31 18 0.17
UGFOX-032 143.30 171.55 28.25 9.20 1.38 33 0.31



Griffin has also completed an 11 hole surface diamond drilling program which
tested targets defined in a 2006 IP geophysical program south of the Caijiaying
Mine between Zones II and III, and targets based on historical drill holes.
Ore-grade mineralization has been discovered at one IP target and one drill hole
target.


2007 Surface Drilling Results - Zone II - III

Hole From To To Zn Pb Ag Au
metres Metres Metres % % g/t g/t

DDCJY-006 163.00 173.84 10.84 3.66 - - -
' 200.50 203.55 3.05 7.42 - - 1.65
' 231.75 242.10 9.25 3.45 - - -
DDCJY-009 80.31 84.06 3.75 5.38 7.88 140 0.59
' 115.00 127.57 12.57 5.47 1.38 72 -
' 196.40 204.27 7.87 4.18 - 29 -
' 207.62 211.00 3.38 12.34 - 14 -
DDCJY-011 80.68 90.69 10.01 7.88 - 39 -


The IP target is situated just 300 metres south of the Caijiaying mine access
decline (Holes DDCJY-006 & 009), which provides an opportunity for rapid
development of this area. Follow-up exploration is planned by branching off the
decline to enable underground drill testing. The mineralization is thought to
be an extension of a Zone III orebody displaced by faulting.


Drill hole DDCJY-011 is located 230 metres northeast of Zone II where historic
Chinese drilling intersected some broad zones of lower grade mineralization.
Essentially, this target is a northern extension of the Zone II mineralisation
which was too far away for the current underground program to reach.


Both successful targets are currently being followed up by a further surface
diamond drilling program as a pre-cursor to extending underground access for
detailed drill outs.


The technical data contained in this disclosure has been compiled and approved
by Mr. Timothy Blyth, Ass Dip (Geology), MAusIMM. Mr. Blyth is a full time
employee of Hebei Hua Ao Mining Industry Company Ltd, and is the Operations
Manager at the Caijiaying Zinc Mine. He is a geologist with 24 years relevant
experience in the mining industry. Mr. Blyth is a member of the Australasian
Institute of Mining and Metallurgy and qualifies as a Competent Person as
defined in the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (The JORC Code).


Chairman Mladen Ninkov commented 'The successful results from both the northern
and southern ends of the valley, south of the Caijiaying Mine in Zone III,
provides further proof to the Company's long held belief that Zone II and Zone
III will eventually be proven to be one continuous orebody. Taken in
conjunction with the outstanding gold results from the Caijiaying Mine area, it
begins to show the true size of the Caijiaying mineralized system and the
potential for further increasing the Caijiaying Mine's production of zinc, gold,
silver, lead and other by-products. I am so pleased for the loyal shareholders
of the Company'


Further information

Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Griffin Mining Limited

Adrian Hadden Telephone: +44(0)20 7523 8353
Collins Stewart Europe 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).

The Company's news releases are available on the Company's web site:


www.griffinmining.com

Griffin suspends zinc concentrates sales; sees sales, profits below market hopes - AFX

LONDON (Thomson Financial) - Griffin Mining Ltd said it suspended all sales of zinc concentrates until the new year due to the temporary retracement in zinc price, and warned sales and profitability for the year to Dec 31 will be below current market expectations.

However, the company said it expects normal resumption of concentrate sales in 2008 with accelerated sales and profitability in the first half.

The company said the relatively low zinc prices being offered at the moment is due to the 'significantly greater' Chinese exports of physical zinc.

Griffin said the situation was temporary as the 5 pct rebate that Chinese zinc exporters enjoy will end on Jan 1, when a rumoured 5 pct tariff will be imposed.

The company added it will stockpile zinc concentrate at Caijiaying in China.

TFN.newsdesk@thomson.com

Now heres a share I'd expecting to bounce, just how low will it go though??

When are they due to start producing gold, must be soon?

Thanks Aldwick, I enjoy reading your posts.

Should pick up nicely from here, esp as gold should be on a bull run next year, wouldn't be surprised to see 140p next year. This will help to offset tax take.

Several things can be noted from this incredible little mining company (compared
to the majors) : the large amount of money raised earlier together with earnings,
should make the so called profit warning not so much of a profit warning specialy
with the quick resumption of production and the rising price of zinc again and probable first earnings from gold etc, also a strong possibility of this company buying another zinc company perhaps not in China, as long as the Chinese
authorities allow the cash to leave China, dare I suggest Maghreb Minerals (MMS)
also into zinc production in Tunisia, there is also a slight possibility of themselves
being taken over from the likes of Xstrata etc, but they would probably fend this
off. I doubt whether they would have to raise any more cash to buy any other
mining company so they would still be without any debt should they acquire
something.

Before somebody corrects me, MMS is at an early stage of development, and of
course not yet in production, and just an example of the kind of target GFM may
be looking at to either to takeover or to invest in, Merry Christmas everybody !

Good old Griffin Mining, another bit of good news, Happy new year to all.

Griffin Mining Ld
31 December 2007




FIRST SALE OF PRECIOUS METALS CONCENTRATE


31st December, 2007

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce that
the first sale of precious metals concentrate from its Caijiaying zinc gold mine
has been made with payment received in advance of the delivery of 60 tonnes of
concentrate containing gold, silver and lead to a local Chinese purchaser.

Chairman Mladen Ninkov commented, "As planned, and following the start of
precious metals concentrate production earlier this month, Griffin is now
selling a precious metals concentrate to the local Chinese markets. This will
provide a valuable additional revenue stream to zinc concentrate sales"

GFM Share Price up 5.10% or 4.50p on news today it a good time to get in today if price drop do yr h-work .

Change up + 6.23% or +5.50p looks good

Yes, this stock should be well above 1, still undervalued.

There should be a rebound soon.

One of my rare risers today !

Greatly undervalued here, compared to the rest of the stockmarket !

.... paying a dividend .... no debt ... producing gold as well .... expanding production .... large cash reserve .... if that isn't a bargain at 72p

Griffin seems to mirror the price of zinc which has been falling over the last few months. It's reported that zinc supply is more than keeping pace with demand. So the production of gold has come along at the right time.