TIDMGFM

RNS Number : 1372F

Griffin Mining Ld

14 July 2021

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

Second Quarter Production

14(th) July 2021

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months to 30(th) June 2021.

 
                                               3 months      3 months     3 months 
                                              to 30(th)     to 31(st)    to 30(th) 
                                              June 2021    March 2021    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                            Telephone: +44(0)20 7629 7772

Roger Goodwin - Finance Director

   Panmure Gordon (UK) Limited                                 Telephone: +44 (0)20 7886 2500

John Prior

Alisa Macmaster

Berenberg Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

Blytheweigh

               Tim Blythe                                                       Telephone: +44(0)20 7138 3205

Swiss Resource Capital AG

 
           Jochen Staiger     Telephone: + 41(0)71 354 8501

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTFLFIDDLIVLIL

(END) Dow Jones Newswires

July 14, 2021 02:00 ET (06:00 GMT)

Griffin Mining (LSE:GFM)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Griffin Mining Charts.
Griffin Mining (LSE:GFM)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Griffin Mining Charts.