<

GRIFFIN MINING LTD (LON:GFM) Griffin Mining Limited Announces Trading Statement

Transparency directive : regulatory news

10/07/2024 08:00

RECORD SECOND QUARTER THROUGHPUT & GOLD PRODUCTION

LONDON, UK / ACCESSWIRE / July 10, 2024 / Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce record quarterly production results for the three months to the 30th June 2024.

3 months to 30th June 2024

3 months to 31st March 2024

3 months to 30th June 2023

Ore mined

Tonnes

429,448

335,234

366,762

Ore processed

Tonnes

408,481

327,529

372,804

Zinc in concentrate Produced

Tonnes

14,779

11,423

14,130

Gold in concentrate produced

Ozs

6,037

5,270

3,237

Silver in concentrate produced

Ozs

92,755

72,026

82,829

Lead in concentrate produced

Tonnes

454

277

468

Average zinc price received per tonne

USD

2,525

2,091

1,916

Average gold price received per oz

USD

2,293

2,026

1,841

Average silver price received per oz

USD

25.7

20.1

18.9

Average lead price received per tonne

USD

2,924

2,868

2,276

Overview

Record amounts of ore were mined and processed at the Caijiaying Mine in the quarter ended 30th June 2024 with throughput increasing 9.5% from that achieved in the second quarter of 2023, producing record quarterly production of gold in concentrate enabling Griffin to enjoy record gold prices.

  • Zinc metal concentrate production was up 649 tonnes (4.6%) on that achieved in the second quarter 2023;

  • Gold in concentrate production was up 2,800 ozs (86.5%) on that achieved in in the second quarter 2023;

  • Silver in concentrate production was up 9,926 ozs (3.0%) on that achieved in in the second quarter 2023; and

  • Lead in concentrate production was down 14 tonnes (20.4%) on that achieved in in the second quarter 2023.

The Caijiaying Mine remains on target to mine and process circa 1.5 million tonnes of ore per annum.

Good progress is being made to bring Zone II at the Caijiaying Mine into production in 2025 with ongoing development work to access and operate Zone II with continuing construction of underground drives, a new Third Portal and decline and construction of the new South Ventilation Shaft.

Chairman Mladen Ninkov commented,

"Yet another superb result. What more needs to be said?"

Change of Name of Nominated Adviser

The Company announces that its Nominated Adviser and Broker has changed its name to Panmure Liberum Limited following completion of its corporate merger.

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

Telephone: +44(0)20 7629 7772

Mladen Ninkov - Chairman
Roger Goodwin - Finance Director

PANMURE LIBERUM LIMITED - NOMINATED ADVISER & JOINT BROKER

Telephone: +44 (0)20 7886 2500

Kieron Hodgson

James Sinclair-Ford

Dougie McLeod

BERENBERG - JOIN BROKER
Telephone: +44(0)20 3207 7800

Matthew Armitt

This announcement contains inside information for the purposes of Article 7 of 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").

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Griffin Mining Ltd



View the original press release on accesswire.com



Other stories

19/07/2024 21:32
19/07/2024 18:42
19/07/2024 20:37
19/07/2024 18:12
19/07/2024 19:30
19/07/2024 08:23
19/07/2024 19:51
19/07/2024 14:18
19/07/2024 22:15
19/07/2024 18:51
20/07/2024 01:02
19/07/2024 22:17
19/07/2024 21:02
20/07/2024 01:30
19/07/2024 23:01
19/07/2024 13:22
19/07/2024 18:48
19/07/2024 13:37
19/07/2024 15:48
18/07/2024 12:43
19/07/2024 19:55
19/07/2024 16:48
19/07/2024 16:05
19/07/2024 09:20
19/07/2024 20:17
19/07/2024 21:46
19/07/2024 23:40
19/07/2024 21:13
20/07/2024 00:26
19/07/2024 23:01
18/07/2024 12:52
19/07/2024 12:08
19/07/2024 20:15
19/07/2024 15:54
18/07/2024 10:59
19/07/2024 17:00
19/07/2024 14:23
18/07/2024 18:05