TIDMGFM

RNS Number : 7205O

Griffin Mining Ld

12 October 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

Third Quarter Production

12(th) October 2021

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

 
                                               3 months     3 months            3 months 
                                              to 30(th)    to 30(th)                  to 
                                              September         June    30(th) September 
                                                   2021         2021                2020 
 Ore mined                         Tonnes       306,966      241,112             248,361 
                                  --------  -----------  -----------  ------------------ 
 Ore processed                     Tonnes       291,737      275,576             236,078 
                                  --------  -----------  -----------  ------------------ 
 Zinc in concentrate Produced      Tonnes        11,607       11,645               7,758 
                                  --------  -----------  -----------  ------------------ 
 Gold in concentrate produced        Ozs          3,848        4,080               4,906 
                                  --------  -----------  -----------  ------------------ 
 Silver in concentrate produced      Ozs         68,549       81,098              82,788 
                                  --------  -----------  -----------  ------------------ 
 Lead in concentrate produced      Tonnes           304          327                 400 
                                  --------  -----------  -----------  ------------------ 
 Average zinc price received 
  per tonne                          USD          2,258        2,224               1,595 
                                  --------  -----------  -----------  ------------------ 
 Average gold price received 
  per oz                             USD          1,693        1,684               1,778 
                                  --------  -----------  -----------  ------------------ 
 Average silver price received 
  per oz                             USD           19.6         20.4                19.3 
                                  --------  -----------  -----------  ------------------ 
 Average lead price received 
  per tonne                          USD          2,304        2,026               1,564 
                                  --------  -----------  -----------  ------------------ 
 

Overview

Ore mined and processed have now reached circa 100,000 tonnes of ore per month, all of which has been extracted from Zone III with Zone II yet to come into production. Tonnes processed in the third quarter of 2021 were up 5.9% on that achieved in the second quarter of 2021, whilst a marginal fall in the zinc head grade has resulted in zinc metal in concentrate production in line with the second quarter of 2021.

Chairman Mladen Ninkov commented: "The third quarter operating results continue the wonderful production results from the second quarter. I am particularly delighted with the normalised throughput averaging over 100,000 tonnes per month in the quarter for the first time at the Caijiaying Mine. This bodes extraordinarily well for next year once the Chinese New Year celebrations, the Winter Olympic Games and the Para Olympic Games conclude at the end of the first quarter of 2022. Nevertheless, we remain cautious for the remainder of 2021 in light of a possible restriction of all mining and processing activities, including Caijiaying, in the lead up to the Winter Olympic games."

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

DRLFFMFWFEFSELS

(END) Dow Jones Newswires

October 12, 2021 02:00 ET (06:00 GMT)

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