Griffin Mining Limited — Regulatory Filings 2021

Jul 14, 2021

National Storage Mechanism | Additional information

RNS Number : 1372F

Griffin Mining Ld

14 July 2021

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: [email protected]

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.

		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

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

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