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23 Oct 2020 07:00
GRIFFIN MINING LIMITED
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
Trading Statement
23rd October 2020
Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months ended 30th September 2020.
3 months to 31st March 2020 | 3 months to 30th June 2020 | 3 months to 30th September 2020 | ||
Ore mined | Tonnes | 114,206 | 200,484 | 248,361 |
Ore processed | Tonnes | 126,174 | 195,340 | 236,078 |
Zinc in concentrate Produced | Tonnes | 5,017 | 8,431 | 7,758 |
Gold in concentrate produced | Ozs | 1,181 | 1,237 | 4,906 |
Silver in concentrate produced | Ozs | 41,669 | 69,163 | 82,788 |
Lead in concentrate produced | Tonnes | 176 | 455 | 400 |
Average zinc price received per tonne | USD | 1,215 | 1,342 | 1,595 |
Average gold price received per oz | USD | 1,512 | 1,600 | 1,778 |
Average silver price received per oz | USD | 12.9 | 14.5 | 19.3 |
Average lead price received per tonne | USD | 1,029 | 1,203 | 1,564 |
Mladen Ninkov, Chairman, commented:
"To better keep the market informed on a more frequent basis, the Company has instituted the above quarterly production schedule which will ensure the market is capable of estimating the financial results of the Company until the interim and annual results are published. As can be deemed from the above production numbers, mining and processing rates in the period have recovered back to pre-Covid levels which, when taken with the higher average metal prices and lower treatment charges, has had a very positive result in terms of the Company's profitability and improved cash flows. The trend seems to be continuing into the fourth quarter."
Further information
Griffin Mining Limited Mladen Ninkov - Chairman Roger Goodwin - Finance Director
| Telephone: +44(0)20 7629 7772 |
Panmure Gordon (UK) Limited Dominic Morley
| Telephone: +44 (0)20 7886 2500 |
Berenberg Matthew Armitt Jennifer Wyllie Deltir Elezi
| Telephone: +44(0)20 3207 7800 |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014
Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).
The Company's news releases are available on the Company's web site: www.griffinmining.com
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