Last checked at 18 Jan 2022 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
2021 Full Year & Fourth Quarter Production
18th January 2022.
Griffin Mining Limited ("Griffin" or the "Company") announces the production results from the Caijiaying Zinc Gold Mine for the three months and year ended 31st December 2021.
3 months to 31st December 2021 | 3 months to 30th September 2021 | 3 months to 30th June 2021 | 3 months to 31st March 2021 | ||
Ore mined | Tonnes | 201,894 | 306,966 | 277,112 | 185,520 |
Ore processed | Tonnes | 217,882 | 291,737 | 275,576 | 200,209 |
Zinc in concentrate Produced | Tonnes | 10,104 | 11,607 | 11,645 | 8,231 |
Gold in concentrate produced | Ozs | 3,015 | 3,848 | 4,080 | 3,504 |
Silver in concentrate produced | Ozs | 56,316 | 68,549 | 81,098 | 63,607 |
Lead in concentrate produced | Tonnes | 204 | 304 | 327 | 234 |
Average zinc price received per tonne | USD | 2,496 | 2,258 | 2,224 | 2,160 |
Average gold price received per oz | USD | 1,696 | 1,693 | 1,684 | 1,645 |
Average silver price received per oz | USD | 18.4 | 19.6 | 20.4 | 20.0 |
Average lead price received per tonne | USD | 2,226 | 2,304 | 2,026 | 1,590 |
Year to 31st December 2021 | Year to 31st December 2020 | ||
Ore mined | Tonnes | 971,492 | 854,566 |
Ore processed | Tonnes | 985,404 | 822,058 |
Zinc in concentrate Produced | Tonnes | 41,587 | 32,472 |
Gold in concentrate produced | Ozs | 14,447 | 11,250 |
Silver in concentrate produced | Ozs | 269,570 | 292,301 |
Lead in concentrate produced | Tonnes | 1,069 | 1,428 |
Average zinc price received per tonne | USD | 2,311 | 1,645 |
Average gold price received per oz | USD | 1,748 | 1,759 |
Average silver price received per oz | USD | 20.4 | 17.7 |
Average lead price received per tonne | USD | 2,074 | 1,339 |
Overview
The 2021 calendar year produced an outstanding operational result in terms of ore mined, ore processed and, most importantly, Zinc and Gold produced. This was in spite of the fact that production was impacted in the fourth quarter by increasing constraints caused by the impending Chinese New Year, Winter Olympic Games and the Paralympic Games, including the reduction in the control of the supply of explosives.
Zinc metal in concentrate production for 2021 was up 28.1% on that achieved in 2020, whilst average zinc prices received in 2021 were up 40.5% on that received in 2021, with higher market prices and lower smelter treatment charges.
Mladen Ninkov, Chairman, commented:
"The 2021 production results are outstanding in their own right, made even more exceptional in light of the normal suspension of activities in the first quarter and the last quarter's slowdown as the Chinese New Year and Winter Olympics approached and government restrictions began to be imposed. It is a credit to both the Western and Chinese operational staff that this result has been achieved."
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 | Telephone: +44 (0)20 7629 7772 |
Mladen Ninkov - Chairman Roger Goodwin - Finance Director
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014