REG - Griffin Mining Ld - FIRST QUARTER PRODUCTION

Griffin MiningAnnouncement

17/04/2023 07:00

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RNS Number : 3275W  Griffin Mining Ld  17 April 2023

 

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 (mailto:griffin@griffinmining.com)

 

First Quarter Production

17(th)  April 2023.

 

Griffin Mining Limited ("Griffin" or the "Company") hereby announces the
production results for the three months to 31(st) March 2023.

 

                                                3 months to 31(st) March 2023  3 months to 31(st) December  3 months to 31(st) March 2022

                                                                               2022
 Ore mined                              Tonnes  355,742                        228,510                      17,975
 Ore processed                          Tonnes  366,120                        184,045                      8,649
 Zinc in concentrate produced           Tonnes  13,965                         6,739                        268
 Gold in concentrate produced           Ozs     4,743                          2,079                        1,474
 Silver in concentrate produced         Ozs     68,779                         59,561                       168
 Lead in concentrate produced           Tonnes  230                            215                          7
 Average zinc price received per tonne  USD     2,029                          2,116                        -
 Average gold price received per oz     USD     1,789                          1,703                        -
 Average silver price received per oz   USD     17.7                           18.1                         -
 Average lead price received per tonne  USD     2,407                          2,145                        -

 

 

Overview

Production in the first quarter of 2023 was a record for a first quarter of
any year since the commissioning of the Caijiaying Mine in 2005. Production
output was unimpeded this quarter by the usual Chinese New Year holidays.
Mining and processing rates have been ramped up to now run consistently at the
equivalent of circa 1.5 million tonnes of ore per annum bringing with it the
expected financial returns.

 

Chairman Mladen Ninkov commented,

 

"What another extraordinary result. The Caijiaying Mine is now clearly showing
what it can achieve when it is unencumbered by extraneous events outside the
Company's control. I look forward to an event free 2023 and the results which
will thereby be generated."

 

 

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 griffinmining.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

             Douglas McLeod

 

Berenberg
 
Telephone: +44(0)20 3207 7800

            Matthew Armitt

Jennifer Wyllie

Deltir Elezi

 

BlytheRay

            Tim
Blythe
Telephone: +44(0)20 7138 3205

 

 

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

 

 

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