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20 Jun 2019 15:51
20 June 2019
GRIFFIN MINING LIMITED
TRADING UPDATE
Griffin Mining Limited ("Griffin" or the "Company") wishes to provide a trading update in respect of trends indicated in the first 5 months of 2019 which, should current zinc prices and smelter treatment charges remain unchanged for the remainder of the year, will inevitably lead to the Company failing to meet market expectations for its 2019 full year. results.
Revenues have been impacted by increased smelter treatment charges with zinc smelter charges increasing by 65% from the same period in 2018. This follows the closure of a number of smelters in China, primarily for environmental reasons, impacting demand for zinc concentrate in China. Griffin's Zinc and gold in concentrate production and costs are expected to be broadly in line with market expectations.
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU.
Further information
Griffin Mining Limited Mladen Ninkov - Chairman Roger Goodwin - Finance Director and Company Secretary
| Telephone: +44(0)20 7629 7772
|
Panmure Gordon (UK) Limited Dominic Morley
| Telephone: +44 (0)20 7886 2500
|
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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