Griffin Mining Share News (GFM)

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323.00 3.00 (0.94%)

Bid:

320.00

Ask:

325.00

Spread: 5.00 (1.563%)

Market Cap: £570.39m

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IN BRIEF: Griffin Mining notes "solid" production at Caijiaying

Thu, 12th Oct 2023 13:54

Griffin Mining Ltd - AIM-listed operator of the Caijiaying zinc and gold mine in China - Says in the three months to September 30, mines 363,406 tonnes of ore, down slightly from 366,762 tonnes in the previous quarter, but up from 267,304 tonnes in the corresponding quarter a year ago. Average gold price received per ounce in the third quarter of 2023 is USD1,900, up from USD1,851 in the second quarter and USD1,661 the year before. Average silver price per ounce remained unchanged from the quarter prior at USD19.3, but is up from USD15.7 in the third quarter of 2022. Adds that production at

Caijiayin has been maintained at an annualised equivalent rate of around 1.5 million tonnes of ore mined and processed, all of which comes from Zone 3. Zone 2 development work is ongoing.

Chair Mladen Ninkov says: "Another solid quarter of production with thanks to all the company's officers, employees and contractors."

Current stock price: 93.80 pence, up 2.3%

12-month change: up 20%

By Sabrina Penty, Alliance News reporter

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