Trading Statement – 23rd October 2020
Trading Statement
23rd October 2020
Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce production results for the three months ended 30thSeptember 2020.
3 months to 31stMarch 2020 | 3 months to 30thJune 2020 | 3 months to 30thSeptember 2020 | ||
Ore mined | Tonnes | 114,206 | 200,484 | 248,361 |
Ore processed | Tonnes | 126,174 | 195,340 | 236,078 |
Zinc in concentrate Produced | Tonnes | 5,017 | 8,431 | 7,758 |
Gold in concentrate produced | Ozs | 1,181 | 1,237 | 4,906 |
Silver in concentrate produced | Ozs | 41,669 | 69,163 | 82,788 |
Lead in concentrate produced | Tonnes | 176 | 455 | 400 |
Average zinc price received per tonne | USD | 1,215 | 1,342 | 1,595 |
Average gold price received per oz | USD | 1,512 | 1,600 | 1,778 |
Average silver price received per oz | USD | 12.9 | 14.5 | 19.3 |
Average lead price received per tonne | USD | 1,029 | 1,203 | 1,564 |
Mladen Ninkov, Chairman, commented:
“To better keep the market informed on a more frequent basis, the Company has instituted the above quarterly production schedule which will ensure the market is capable of estimating the financial results of the Company until the interim and annual results are published. As can be deemed from the above production numbers, mining and processing rates in the period have recovered back to pre-Covid levels which, when taken with the higher average metal prices and lower treatment charges, has had a very positive result in terms of the Company’s profitability and improved cash flows. The trend seems to be continuing into the fourth quarter.”
Further information
Griffin Mining Limited Telephone: +44(0)20 7629 7772
Mladen Ninkov – Chairman
Roger Goodwin – Finance Director
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
Dominic Morley
Berenberg Telephone: +44(0)20 3207 7800
Matthew Armitt
Jennifer Wyllie
Deltir Elezi
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014
Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).
The Company’s news releases are available on the Company’s web site: www.griffinmining.com