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GFM - Griffin Mining News Story

69p 0.5  0.7%

Last Trade - 13/12/19

Sector
Basic Materials
Size
Small Cap
Market Cap £118.8m
Enterprise Value £105.1m
Revenue £62.8m
Position in Universe 934th / 1841

Griffin Mining Ld - Mining licence update

Fri 20th September, 2019 12:47pm
RNS Number : 1529N
Griffin Mining Ld
20 September 2019
 

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

 

Mining Licence Update

 

20th September 2019.

 

 

Griffin Mining Limited ("Griffin" or the "Company") is pleased to provide an update of the progress of its Chinese subsidiary's (Hebei Hua Ao Mining Industry Company Limited) lodged and accepted mining licence application ("MLA") for Zone II at the Caijiaying Mine with the Beijing Ministry of Natural Resources ("MNR"). As previously announced, the MNR was expected to provide its approval and issuance of the new mining licence within 40 business days of the MLA acceptance date of the 8th August 2019.  On the 13th August 2019, 2 further minor supplementary documents were requested by the MNR from the Hebei Provincial branch of the MNR and the 40 business day period suspended until the documents were lodged and approved at the MNR.  The documents were subsequently lodged on 9th September 2019.  The documents were accepted and approved by the MNR on the 20th September 2019 and the 40 business day period thereby reinstated with 35 business days remaining.

 

The Company's Chairman Mr. Mladen Ninkov commented, "The Company has experienced numerous administrative delays in the MLA process over the past 7 years and consequently a minor suspension of the issuance period, although frustrating, is not unexpected.  I do not believe it is anything to concern shareholders and we look forward to the issuance of the new mining licence in the near future."

 

 

 

Further information

 

 

Griffin Mining Limited:

 

Mladen Ninkov                    (Chairman)

Roger Goodwin                    (Finance Director & Company Secretary)                  Telephone: +44 (0)20 7629 7772

 

 

Panmure Gordon (UK) Limited                                                                                  Telephone: +44 (0)20 7886 2500

               Dominic Morley

               

 

 

 

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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