Last checked at 12 Oct 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
Third Quarter Production
12th October 2021
Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months to 30th September 2021.
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| 3 months to 30th September 2021 | 3 months to 30th June 2021 | 3 months to 30th September 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 |
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014