REG - Griffin Mining Ltd - DISRUPTED LAST QUARTER & FULL YEAR PRODUCTION 2024

Griffin MiningAnnouncement

31/01/2025 07:00

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RNS Number : 3245V  Griffin Mining Limited  31 January 2025

 

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)

 

Disrupted Fourth Quarter & Full Year Production 2024

 

31(st) January 2025

 

Griffin Mining Limited ("Griffin" or the "Company") announces the production
results from the Caijiaying Zinc Gold Mine for the disrupted three months and
year ended 31(st) December 2024.

 

                                                3 months to 31 December 2024  3 months to 30 September 2024  3 months to 30 June 2024  3 months to 31 March 2024
 Ore mined                              Tonnes  43,918                        337,547                        429,448                   335,234
 Ore processed                          Tonnes  36,310                        396,778                        408,481                   327,529
 Zinc in concentrate produced           Tonnes  1,399                         11,843                         14,779                    11,423
 Gold in concentrate produced           Ozs     731                           4,105                          6,037                     5,270
 Silver in concentrate produced         Ozs     15,640                        95,276                         92,755                    72,026
 Lead in concentrate produced           Tonnes  97                            468                            454                       277
 Average zinc price received per tonne  USD     2,663                         2,584                          2,525                     2,091
 Average gold price received per oz     USD     2,519                         2,343                          2,293                     2,026
 Average silver price received per oz   USD     26.8                          25.7                           25.7                      20.1
 Average lead price received per tonne  USD     2,554                         2,499                          2,924                     2,868

 

                                                Year to            Year to

                                                31 December 2024   31 December 2023
 Ore mined                              Tonnes  1,146,146          1,505,642
 Ore processed                          Tonnes  1,169,098          1,513,977
 Zinc in concentrate produced           Tonnes  39,444             56,933
 Gold in concentrate produced           Ozs     16,142             17,052
 Silver in concentrate produced         Ozs     275,697            314,667
 Lead in concentrate produced           Tonnes  1,295              1,546
 Average zinc price received per tonne  USD     2,414              1,931
 Average gold price received per oz     USD     2,228              1,952
 Average silver price received per oz   USD     24.3               20.1
 Average lead price received per tonne  USD     2,709              2,536

 

Overview

As published in previous market guidance information, the Company was on
course over the first 9 months of 2024 to mine and process 1.5 million tonnes
at the Caijiaying Mine in 2024. The unfortunate suspension in operations on
the 11(th) October 2024 following the fatality of a mine contractor's employee
halted all operations at the Caijiaying Mine until the 1(st) January 2025 and
severely impacted operational results in the last quarter of 2024. All mine
and milling operations have returned to normal in 2025.

 

 

 

 

 

 

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 Liberum
Limited
Telephone: +44 (0)20 7886 2500

             James Sinclair-Ford

             Douglas McLeod

 

Berenberg
 
Telephone: +44(0)20 3207 7800

            Matthew Armitt

Jennifer Lee

Deltir Elezi

 

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

 

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