REG - Griffin Mining Ltd - THIRD QUARTER PRODUCTION RESULTS

Griffin MiningAnnouncement

25/10/2024 07:00

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RNS Number : 5254J  Griffin Mining Limited  25 October 2024

 

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)

 

 

Third Quarter Production Results

 

25(th) October 2024

 

 

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce
production results for the three months to the 30(th) September 2024.

 

                                                3 months to 30(th)  September 2024   3 months to 30(th)  September 2023
 Ore mined                              Tonnes  337,547                              363,406
 Ore processed                          Tonnes  396,778                              367,024
 Zinc in concentrate Produced           Tonnes  11,843                               12,839
 Gold in concentrate produced           Ozs     4,105                                3,950
 Silver in concentrate produced         Ozs     95,276                               69,707
 Lead in concentrate produced           Tonnes  468                                  284
 Average zinc price received per tonne  USD     2,584                                1,782
 Average gold price received per oz     USD     2,343                                1,900
 Average silver price received per oz   USD     25.7                                 19.3
 Average lead price received per tonne  USD     2,499                                2,514

 

 

Overview

Throughput has been maintained at the Caijiaying Mine at an annualised
equivalent rate of circa 1.5 million tonnes despite lower amounts of ore mined
due to lower grade stopes being accessed during the quarter. Despite the death
of an employee of the haulage contractor at the Caijiaying Mine and the
subsequent suspension of all mining and milling operations (as announced on 10
October 2024), provided operations recommence in the near future, the Company
is hopeful that it will still be able to reach its budgeted production profile
of circa 1.5 million tonnes per annum.

Zone II development work is ongoing including a new third portal, a new South
Ventilation Shaft, development of the decline and other underground
infrastructure and services.

 

Chairman Mladen Ninkov commented, "What was always planned as a lower grade
production quarter has unfortunately been followed by the tragic loss of a
contractor's employee's life. All of our staff and contractors are moving
heaven and earth to ensure operations begin as soon as possible and the
production lost in the shutdown is recouped in the last quarter."

 

 

 

 

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

             Kieron Hodgson

             Dougie
McLeod

 

Berenberg
 
Telephone: +44(0)20 3207 7800

            Matthew Armitt

            Jennifer Lee

 

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the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

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