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Share Name Share Symbol Market Type Share ISIN Share Description
Griffin Mining Limited LSE:GFM London Ordinary Share BMG319201049 ORD $0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -6.50 -4.38% 142.00 140.00 141.50 142.50 138.00 142.50 41,227 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 77.7 27.3 11.6 13.4 248

Griffin Mining Ld First Quarter Production

13/04/2021 7:00am

UK Regulatory (RNS & others)


Griffin Mining (LSE:GFM)
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RNS Number : 2066V

Griffin Mining Ld

13 April 2021

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

First Quarter Production

13(th) April 2021

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months to 31(st) March 2021.

 
                                               3 months to     3 months to 
                                              31(st) March    31(st) March 
                                                      2021            2020 
 Ore mined                         Tonnes          185,520         114,206 
                                  --------  --------------  -------------- 
 Ore processed                     Tonnes          200,209         122,523 
                                  --------  --------------  -------------- 
 Zinc in concentrate Produced      Tonnes            8,231           5,017 
                                  --------  --------------  -------------- 
 Gold in concentrate produced        Ozs             3,504           1,181 
                                  --------  --------------  -------------- 
 Silver in concentrate produced      Ozs            63,607          41,669 
                                  --------  --------------  -------------- 
 Lead in concentrate produced      Tonnes              234             176 
                                  --------  --------------  -------------- 
 Average zinc price received 
  per tonne                          USD             2,161           1,211 
                                  --------  --------------  -------------- 
 Average gold price received 
  per oz                             USD             1,645           1,508 
                                  --------  --------------  -------------- 
 Average silver price received 
  per oz                             USD              20.0            12.9 
                                  --------  --------------  -------------- 
 Average lead price received 
  per tonne                          USD             1,591           1,026 
                                  --------  --------------  -------------- 
 

Overview

As in previous years, production in the first quarter of the year was impacted by the Chinese New Year holidays when mining was suspended and processing scaled back as personnel leave during the holiday period allowing maintenance work to be undertaken. Production in the first quarter of 2020 had been impacted by the suspension of operations at Caijiaying imposed by the Chinese authorities for a month in late January / February and subsequent travel restrictions to contain the Covid 19 pandemic. However, tonnes processed in the first quarter of 2021 were up 12.1% on that achieved in the first quarter of 2019 of 178,615 tonnes and zinc metal in concentrate produced was up 12.8% on that achieved in the first quarter of 2019 of 7,303 tonnes.

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 
 Panmure Gordon (UK) Limited               Telephone: +44 (0)20 7886 2500 
         John Prior 
          Joanna Langley 
 Berenberg                                 Telephone: +44 (0)20 3207 7800 
       Matthew Armitt 
        Jennifer Wyllie 
        Deltir Elezi 
 Blythewigh                                 Telephone: +44(0)20 7138 3205 
       Tim Blythe 
 Swiss Resource Capital AG                  Telephone: + 41(0)71 354 8501 
       Jochen Staiger 
 

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

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END

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April 13, 2021 02:00 ET (06:00 GMT)

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