REG - Griffin Mining Ld - Third Quarter Production

Griffin MiningAnnouncement

12/10/2021 07:00

RNS Number : 7205O
  
Griffin Mining Ld
  
12 October 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: griffin@griffinmining.com
 
 
Third Quarter Production
12th  October 2021
 
 
Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months to 30th September 2021.
 
 




 


 


3 months to 30th  September
2021


3 months to 30th June 
2021


3 months to 
30th  September 2020




Ore mined


Tonnes


306,966


241,112


248,361




Ore processed


Tonnes


291,737


275,576


236,078




Zinc in concentrate Produced


Tonnes


11,607


11,645


7,758




Gold in concentrate produced


Ozs


3,848


4,080


4,906




Silver in concentrate produced


Ozs


68,549


81,098


82,788




Lead in concentrate produced


Tonnes


304


327


400




Average zinc price received per tonne


USD


2,258


2,224


1,595




Average gold price received per oz


USD


1,693


1,684


1,778




Average silver price received per oz


USD


19.6


20.4


19.3




Average lead price received per tonne


USD


2,304


2,026


1,564




 
 
Overview                                                                                       
Ore mined and processed have now reached circa 100,000 tonnes of ore per month, all of which has been extracted from Zone III with Zone II yet to come into production. Tonnes processed in the third quarter of 2021 were up 5.9% on that achieved in the second quarter of 2021, whilst a marginal fall in the zinc head grade has resulted in zinc metal in concentrate production in line with the second quarter of 2021.
 
Chairman Mladen Ninkov commented: "The third quarter operating results continue the wonderful production results from the second quarter. I am particularly delighted with the normalised throughput averaging over 100,000 tonnes per month in the quarter for the first time at the Caijiaying Mine. This bodes extraordinarily well for next year once the Chinese New Year celebrations, the Winter Olympic Games and the Para Olympic Games conclude at the end of the first quarter of 2022. Nevertheless, we remain cautious for the remainder of 2021 in light of a possible restriction of all mining and processing activities, including Caijiaying, in the lead up to the Winter Olympic games."
 
 
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




 


 




 
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