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.

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
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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.

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