Last checked at 14 Jul 2021 07:00
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
14th July 2021
Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months to 30th June 2021.
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| 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 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 |
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014