REG - Griffin Mining Ld - Fourth Quarter and Full Year 2020 Production

Griffin MiningAnnouncement

14/01/2021 07:00

RNS Number : 6254L
  
Griffin Mining Ld
  
14 January 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
 
Fourth Quarter and Full Year 2020 Production
 
14th January 2021.
 
Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months and year ended 31st December 2020. 
 
 




 


 


3 months to 31st March 2020


3 months to 30th June 2020


3 months to 30th September 2020


3 months to 31st December 2020




Ore mined


Tonnes


114,206


200,484


248,361


291,515




Ore processed


Tonnes


122,523


201,013


225,002


273,520




Zinc in concentrate Produced


Tonnes


5,017


8,431


7,758


11,266




Gold in concentrate produced


Ozs


1,181


1,237


4,906


3,926




Silver in concentrate produced


Ozs


41,669


69,163


82,788


98,681




Lead in concentrate produced


Tonnes


176


455


400


397




Average zinc price received per tonne


USD


1,211


1,332


1,615


1,992




Average gold price received per oz


USD


1,508


1,589


1,800


1,764




Average silver price received per oz


USD


12.9


14.4


19.5


19.1




Average lead price received per tonne


USD


1,026


1,194


1,584


1,286




 
 




 


 


Year to 
31st December 2020


Year to 
31st December 2019




Ore mined


Tonnes


854,566


862,029




Ore processed


Tonnes


822,058


930,613




Zinc in concentrate Produced


Tonnes


32,472


37,413




Gold in concentrate produced


Ozs


11,250


17,768




Silver in concentrate produced


Ozs


292,301


344,228




Lead in concentrate produced


Tonnes


1,428


1,219




Average zinc price received per tonne


USD


1,638


1,471




Average gold price received per oz


USD


1,752


1,318




Average silver price received per oz


USD


17.6


13.8




Average lead price received per tonne


USD


1,334


1,575




 
 
 
Overview
As reported in our Interim Statement (published on 23 July), production for the first six months of 2020 was impacted by the suspension of operations at Caijiaying imposed by the Chinese authorities for a month in late January / February and subsequent travel restrictions with consequent difficulties in returning mining personnel to Caijiaying resulting in reduced levels of activity.
The situation at the mine site started to improve from March onwards and by the second half of the year, Caijiaying was approaching pre-Covid levels of production.
 
Mladen Ninkov, Chairman, commented:
"I'm extremely pleased with the operating results for 2020, in particular considering all the difficulties associated with COVID-19. The last quarter's results indicate what the Company can and will deliver in 2021."
 
 
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
             Joanna Langley
            
Berenberg                                                                         Telephone: +44(0)20 3207 7800
            Matthew Armitt
Jennifer Wyllie
Deltir Elezi
 
Blytheweigh
            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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