Griffin Mining Limited: Second Quarter Production
14th July 2021. Griffin Mining Limited ("Griffin" or the "Company" - https://www.commodity-tv.com/ondemand/companies/profil/griffin-mining-ltd/ ) is pleased to announce production results for the three months to 30th June 2021.
3 months to 30th June 2021
3 months to 31st March 2021
3 months to 30th June 2020
Ore mined
Tonnes
241,112
185,520
200,484
Ore processed
Tonnes
275,576
200,209
201,013
Zinc in concentrate Produced
Tonnes
11,645
8,231
8,431
Gold in concentrate produced
Ozs
4,080
3,504
1,237
Silver in concentrate produced
Ozs
81,098
63,607
69,163
Lead in concentrate produced
Tonnes
327
234
455
Average zinc price received per tonne
USD
2,224
2,161
1,332
Average gold price received per oz
USD
1,684
1,645
1,589
Average silver price received per oz
USD
20.4
20.0
14.4
Average lead price received per tonne
USD
2,026
1,591
1,195
Overview
Mining and processing have now reached the equivalent of over a million tonnes of ore per annum all of which has been extracted from Zone III with Zone II yet to come into production. Tonnes processed in the second quarter of 2021 were up 37.1% on that achieved in the second quarter of 2021 and zinc metal in concentrate produced was up 38.1% on that achieved in the second quarter of 2020.
Chairman Mladen Ninkov commented, “A tremendous first half year performance, traditionally the Company’s weakest period due to Chinese New Year, where our performance target outlined to shareholders for 2021 is on track to be achieved. Mining and processing, on a monthly basis, have now reached the equivalent of 1.2 million tonnes of ore per annum throughput, all of which has been extracted, as planned, from Zone III. Zone II mine design has been completed and is on target to begin production in 2022. When combined with existing Zone III production, this will enable the Company to deliver on its commitment to reach the 1.5 million tonne production throughput by the end of 2022. Quite frankly, I couldn’t be prouder of this tight band of directors, senior ex pat staff, Chinese employees and contractors. A fantastic team effort.”
About Griffin Mining Limited
Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website giffinmining.com.
Further information
Griffin Mining Limited
Mladen Ninkov – Chairman
Roger Goodwin – Finance Director
Telephone: +44(0)20 7629 7772
Panmure Gordon (UK) Limited
John Prior
Alisa MacMaster
Telephone: +44 (0)20 7886 2500
Berenberg
Matthew Armitt
Jennifer Wyllie
Deltir Elezi
Telephone: +44(0)20 3207 7800
Blytheweigh
Tim Blythe
Telephone: +44(0)20 7138 3205
Swiss Resource Capital AG
Jochen Staiger
8th Floor, Royal Trust House, 54-56 Jermyn Street
London. SW1Y 6LX, United Kingdom
Telephone: + 44 (0)20 7629 7772
Facsimile: + 44 (0)20 7629 7773
E mail: griffin@griffinmining.com
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014