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GFM - Griffin Mining News Story

68.5p -0.5  -0.7%

Last Trade - 12/12/19

Sector
Basic Materials
Size
Small Cap
Market Cap £118.0m
Enterprise Value £104.0m
Revenue £63.5m
Position in Universe 933rd / 1844

Griffin Mining Ld - Mining licence update

Wed 30th October, 2019 1:16pm
RNS Number : 6678R
Griffin Mining Ld
30 October 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

 

30th October 2019.

 

 

Further to the announcements made on 8th August and 20th September regarding the progress of Griffin Mining Limited's ("Griffin" or the "Company") Chinese subsidiary's (Hebei Hua Ao Mining Industry Company Limited) mining licence application ("MLA") for Zone II at the Caijiaying Mine with the Beijing Ministry of Natural Resources ("MNR"), 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.  As previously announced, the 40 business day period was suspended on the 13th August 2019 and reinstated subsequently with 35 business days remaining.  The Company received notification today from the Beijing MNR that further clarification was required concerning farming surface rights, as a result of which the acceptance period was again suspended with effect from 24th October 2019.  A formal response with the full support of local, municipal and provincial levels of government has been prepared for submission to the Beijing MNR with the expectation it will resolve the issue.

 

The Company's Chairman Mr. Mladen Ninkov commented, "Yet another administrative delay after so many previous administrative delays in the ongoing MLA process.  I believe shareholders have become far too accustomed to these delays, yet we all hope this is the last and we continue to look forward to the day we receive the new mining licence."

 

 

 

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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