NEWS

Annual General Meeting

Annual General Meeting

 15th July 2022

The Board of Griffin Mining Ltd (“the Company”) is pleased to announce that all the resolutions put to the shareholders of the Company at the Annual General Meeting held today were duly passed.

 

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 in China, through its 88.8% owned Joint Venture stock company, 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 www.griffinmining.com.

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

        John Prior

        Ailisa MacMaster

Berenberg                              Telephone: +44(0)20 3207 7800

        Matthew Armitt

       Jennifer Wyllie

       Deltir Elezi

BlytheRay                    Telephone: +44(0)20 7138 3205

       Tim Blythe

Swiss Resource Capital AG                    Telephone: +41 (0)71 354 8501

       Jochen Staiger

CORRECTION TO RECORD SECOND QUARTER PRODUCTION ANNOUNCEMENT

The following amendments have been made to the ‘Record Second Quarter Production’ announcement released on 07.07.2022 at 07.00 under RNS No 5884R.

 Further to the announcement this morning Griffin Mining Limited (“Griffin” or the “Company”) announces that the gold price received per ounce and lead price per tonne for the 3 months to June 2022 should have read $2,323 and $1,788 respectively.

All other details remain unchanged.

The full amended text is shown below.

 

CORRECTION TO RECORD SECOND QUARTER PRODUCTION ANNOUNCEMENT

 Zone II Mine Plan Approval Update

 7th  July 2022

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce record production results for the three months to the 30th June 2022, achieved after the successful recommencement of operations following the enforced suspension of all operations in the first quarter of this year for the Chinese Lunar New Year holiday celebrations, the 2022 Winter Olympics and the subsequent Winter Paralympics.

    3 months to 30th  June 2022 3 months to 31stMarch 2022 3 months to 30th June 2021
Ore mined Tonnes 338,790 17,975 277,112
Ore processed Tonnes 329,390 8,649 275,576
Zinc in concentrate Produced Tonnes 13,189 268 11,645
Gold in concentrate produced Ozs 3,504 1,474 4,080
Silver in concentrate produced Ozs 79,246 168 81,098
Lead in concentrate produced Tonnes 345 7 327
Average zinc price received per tonne USD 2,886 2,224
Average gold price received per oz USD 1,788 1,684
Average silver price received per oz USD 18.1 20.4
Average lead price received per tonne USD 2,323 2,026

Overview

Record ore mined, hauled and processed and record zinc metal in concentrate produced was achieved in the second quarter of 2022 at the annualised equivalent rate of circa 1.3 million tonnes of ore mined and processed.

Whilst Covid-19 restrictions remained in force throughout China, the sale and transport of metal in concentrate, services and supplies to the Caijiaying Mine have continued with minimal impact to operations.

Mining and processing have now reached the equivalent of over 1.3 million tonnes of ore per annum, all of which has been extracted from Zone III. Zone II not yet been placed into production.

Zone II Mine Plan Approval

The Zone II Safety Facility Design (the “Mine Plan”) was completed for the mineral resources located in the upper part of Zone II between the 1420RL and 1340RL by the Company, in conjunction with the industry-leading Chinese design institute ENFI, in accordance with the guidance issued by the Hebei Provincial Emergency Response Bureau (the “Bureau”), and was submitted to the Bureau in June 2022 to allow for the commencement of Zone II development in July 2022.

The recent meeting of the Bureau to consider the Mine Plan interpreted the 4th Recommendation of the National Mine Safety Bureau to include a detailed design for all of Zone II to the 1000RL and the installation of all safety facility designs and access to the 1000RL, greatly expanding the scope of the project.

Consequently, the Company immediately began an expansion of its current Mine Plan to extend it to the 1000RL to accommodate the Bureau’s ruling. The new revised Mine Plan will be reconsidered by the Bureau at the end of September should there be no additional travel restrictions imposed due the COVID-19 pandemic.

Although this is a material change in the scope of works for Zone II and is estimated to delay the Zone II Mine Plan approval by 3 months, this is more than offset by the opportunity to have the entire resource contained within Zone II included within an approved Mine Plan allowing advanced access for diamond definition drilling ensuring the long-term security of production without the continual need for ongoing approvals.

It is not expected to affect  throughput for 2022 or 2023.

Chairman Mladen Ninkov commented, “I would firstly like to congratulate all the staff and contractors who have delivered such an extraordinary second quarter result for the Company.  It augurs well for the remainder of the year ahead and for 2023. Secondly, in the terms of the Mine Plan delay, what at first seemed like a dark cloud and yet another delay on a licencing matter in China, having not forgotten the long delays experienced in obtaining the Zone II mining licence, has in fact delivered the figurative silver lining with the Company now being able to obtain the Mine Plan approval for the total known mineral resource on all levels of Zone II. This is quite a win for the Company. I look forward to further announcements as the year progresses.”

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                          Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                        Telephone: +44 (0)20 7886 2500

John Prior

Ailsa MacMaster

Berenberg                     Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BlytheRay                 Telephone: +44(0)20 7138 3205

Tim Blythe

Swiss Resource Capital AG                 Telephone: +41 (0)71 354 8501

Jochen Staiger

RECORD SECOND QUARTER PRODUCTION

Record Second Quarter Production

 Zone II Mine Plan Approval Update

  7th  July 2022

 

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce record production results for the three months to the 30th June 2022, achieved after the successful recommencement of operations following the enforced suspension of all operations in the first quarter of this year for the Chinese Lunar New Year holiday celebrations, the 2022 Winter Olympics and the subsequent Winter Paralympics.

3 months to 30th  June 2022 3 months to 31stMarch 2022 3 months to 30th June 2021
Ore mined Tonnes 338,790 17,975 277,112
Ore processed Tonnes 329,390 8,649 275,576
Zinc in concentrate Produced Tonnes 13,189 268 11,645
Gold in concentrate produced Ozs 3,504 1,474 4,080
Silver in concentrate produced Ozs 79,246 168 81,098
Lead in concentrate produced Tonnes 345 7 327
Average zinc price received per tonne USD 2,886 2,224
Average gold price received per oz USD 2,323 1,684
Average silver price received per oz USD 18.1 20.4
Average lead price received per tonne USD 1,788 2,026

Overview

Record ore mined, hauled and processed and record zinc metal in concentrate produced was achieved in the second quarter of 2022 at the annualised equivalent rate of circa 1.3 million tonnes of ore mined and processed.

Whilst Covid-19 restrictions remained in force throughout China, the sale and transport of metal in concentrate, services and supplies to the Caijiaying Mine have continued with minimal impact to operations.

Mining and processing have now reached the equivalent of over 1.3 million tonnes of ore per annum, all of which has been extracted from Zone III. Zone II not yet been placed into production.

Zone II Mine Plan Approval

The Zone II Safety Facility Design (the “Mine Plan”) was completed for the mineral resources located in the upper part of Zone II between the 1420RL and 1340RL by the Company, in conjunction with the industry-leading Chinese design institute ENFI, in accordance with the guidance issued by the Hebei Provincial Emergency Response Bureau (the “Bureau”), and was submitted to the Bureau in June 2022 to allow for the commencement of Zone II development in July 2022.

The recent meeting of the Bureau to consider the Mine Plan interpreted the 4th Recommendation of the National Mine Safety Bureau to include a detailed design for all of Zone II to the 1000RL and the installation of all safety facility designs and access to the 1000RL, greatly expanding the scope of the project.

Consequently, the Company immediately began an expansion of its current Mine Plan to extend it to the 1000RL to accommodate the Bureau’s ruling. The new revised Mine Plan will be reconsidered by the Bureau at the end of September should there be no additional travel restrictions imposed due the COVID-19 pandemic.

Although this is a material change in the scope of works for Zone II and is estimated to delay the Zone II Mine Plan approval by 3 months, this is more than offset by the opportunity to have the entire resource contained within Zone II included within an approved Mine Plan allowing advanced access for diamond definition drilling ensuring the long-term security of production without the continual need for ongoing approvals.

It is not expected to affect  throughput for 2022 or 2023.

Chairman Mladen Ninkov commented, “I would firstly like to congratulate all the staff and contractors who have delivered such an extraordinary second quarter result for the Company.  It augurs well for the remainder of the year ahead and for 2023. Secondly, in the terms of the Mine Plan delay, what at first seemed like a dark cloud and yet another delay on a licencing matter in China, having not forgotten the long delays experienced in obtaining the Zone II mining licence, has in fact delivered the figurative silver lining with the Company now being able to obtain the Mine Plan approval for the total known mineral resource on all levels of Zone II. This is quite a win for the Company. I look forward to further announcements as the year progresses.”

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                             Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                         Telephone: +44 (0)20 7886 2500

John Prior

Ailsa MacMaster

Berenberg                          Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BlytheRay                      Telephone: +44(0)20 7138 3205

Tim Blythe

Swiss Resource Capital AG                              Telephone: +41 (0)71 354 8501

Jochen Staiger

Annual General Meeting

Annual General Meeting

 17th June 2022

Notice of the thirty fifth Annual General Meeting of Griffin Mining Limited to be held at Clarendon House, 2 Church Street, Hamilton, HM11, Bermuda on Friday 15th July 2022 at 11.00 am local time (3.00 pm BST) has been sent to shareholders and is available, on the Company’s web site www.griffinmining.com.

 

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 in China, through its 88.8% owned Joint Venture stock company, 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 www.griffinmining.com.

 

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

    John Prior

    Ailisa MacMaster

Berenberg                          Telephone: +44(0)20 3207 7800

    Matthew Armitt

    Jennifer Wyllie

    Deltir Elezi

BlytheRay             Telephone: +44(0)20 7138 3205

     Tim Blythe

Swiss Resource Capital AG                  Telephone: +41 (0)71 354 8501

   Jochen Staiger

ANNUAL GENERAL MEETING

Annual General Meeting

 5th May 2022

 

The Board of Griffin Mining Ltd (“the Company”) is pleased to announce that all the resolutions put to the shareholders of the Company at the Annual General Meeting held today were duly passed.

Dean Moore and Linda Naylor have therefore been appointed directors of the Company.  Dal Brynelsen did not seek re-election as a director.  The shareholders and directors expressed their appreciation for Dal Brynelsen’ s long standing contribution to the Company who has been instrumental in the drive, political and technical issues which have found, developed and operated the Caijiaying Mine and propelled the success of the Company. With his reputation unmatched, he remains a giant of the mining industry and his presence and enthusiasm at the holding company level cannot be replaced. Mr Brynelsen will remain a director of the Company’s operating subsidiary in China, Hebei Hua Ao Mining Industry Company Limited, so the Company can continue to benefit from his mining expertise and his wealth of knowledge on operations, logistics and local issues in China.

Dean Moore is a Fellow of the Institute of Chartered Accountants in England & Wales with extensive public company experience having previously been Chief Financial Officer at Cineworld Group plc, N Brown Group plc, T&S Stores plc and Graham Group plc and formerly non-executive Chairman of Tuxedo Money Solutions Limited. He is currently a Director and Interim Chief Financial Officer of Dignity plc and an independent non-executive director and Chairman of the Remuneration Committee at Cineworld Group plc and Audit Committee Chairman and Senior Independent Director of Volex plc.

Linda Naylor is a graduate of the London School of Economics and a Fellow of the Institute of Chartered Accountants in England & Wales. A former partner in Grant Thornton UK LLP, her experience has been gained over more than twenty years working as a Nominated Adviser in the Capital Markets team and as an Audit Partner specialising in the natural resource sector. She was Chair of the Audit Committee whilst a Governor of Portsmouth University. As Finance Director of AIM listed Chaarat Gold Holdings Limited from 2009 to 2018, she worked as part of a small executive team. Her responsibilities encompassed financial reporting, investor relations and fund raising as that company transitioned from gold explorer to developer in the Kyrgyz Republic.

Additional Information

In accordance with the AIM Rules, the following information required to be disclosed in relation to each of the directors is set out below. Other than this information, there is no further information required to be disclosed under Rule 17 and paragraph (g) of Schedule Two of the AIM Rules.

Dean Moore

Full name and age: Dean Roderick Moore, aged 64

Current directorships:

 

Dignity (2002) Limited

Dignity PLC

Thought Provoking Consulting Limited

Volex PLC

Cineworld Group PLC

Former directorships (previous five years): Tuxedo Money Solutions Limited
Ordinary Shares held in the Company: 100 Ordinary Shares held in the Company

 

Linda Naylor

Full name and age: Linda Naylor, aged 61 (Other/previous names: Linda Tipple, Linda Hayman)
Current directorships: Silver Birch Mews Management Limited
Former directorships (previous five years):

 

Chaarat Gold Holdings Limited

Zaav Holdings Limited

Ak-Shirak Holdings Limited

At-Bashi Holdings Limited

Chon-Tash Holdings Limited

Goldex Asia Holdings Limited

Chaarat Zaav CJSC

Chaarat Operating Company GmbH

Central Asia Services Limited

Ordinary Shares held in the Company: Linda Naylor has a beneficial interest in 20,000 Ordinary Shares in the Company (including 10,000 Ordinary Shares owned by Linda Naylor’s husband)

 

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 in China, through its 88.8% owned Joint Venture stock company, 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 www.griffinmining.com.

 

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

John Prior

Dominic Morley

Berenberg                            Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

 

 

NOTICE OF ANNUAL GENERAL MEETING

NOTICE OF ANNUAL GENERAL MEETING

 

NOTICE IS HEREBY GIVEN that the thirty fourth Annual General Meeting of Griffin Mining Limited will be held at Level 9, BGC Centre, 28 The Esplanade, Perth. WA 6000, West Australia on Thursday 5th May 2022 at 4.00 pm local time (9.00 am BST) for the following purposes:

 

  1. To receive the Accounts for the year ended 31st December 2020 together with the Directors and Auditors Reports thereon.
  2. To determine the maximum number of Directors at seven for the forthcoming year and determine that any unfilled vacancies be deemed casual vacancies for the purposes of the Company’s bye-laws.
  3. To re-elect Mladen Ninkov as a director of the Company.
  4. To re-elect Roger Goodwin as a director of the Company.
  5. To elect Dean Moore as a director of the Company.
  6. To elect Linda Naylor as a director of the Company.
  7. To re-elect Adam Usdan as a director of the Company.
  8. To re-elect Clive Whiley as a director of the Company.
  9. To re-appoint PricewaterhouseCoopers LLP as Auditors and authorise the Directors to fix their remuneration.

 

BY ORDER OF THE BOARD

Roger Goodwin,

Finance Director and Company Secretary.

Dated: 8th April 2022.

START OF CAIJIAYING MINE OPERATIONS

Start of Caijiaying Mine Operations

 Covid-19 Outbreak China

 18th March 2022

 

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce that underground operations have now recommenced at the Caijiaying Mine and that the mill facilities are scheduled to recommence processing ore on 25th March 2022.

 

As has been reported in the international press, increased cases of the Covid-19 coronavirus have been recorded in certain parts of China, including Jilin Province in north-east China. The Company’s management, contractors and other stakeholders are working closely with the local County Government to ensure continuing Covid safe operating and logistical procedures. To date, essential supplies such as explosives and mill materials have not been affected. Nevertheless, the Company continues to liaise with all relevant parties to ensure total compliance with continuing evolving regulations, particularly should the infection rate increase further.

 

Chairman Mladen Ninkov commented, “I am grateful to our staff, contractors and government officials for managing the necessary approvals to restart the Caijiaying operations on time and so efficiently. As you would expect, we remain vigilant with the reported increase in Covid-19 cases but feel assured by the effective handling of the current situation by all the relevant Chinese authorities.”

  

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                               Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                        Telephone: +44 (0)20 7886 2500

John Prior

Ailisa MacMaster

Berenberg                        Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

Blytheweigh          Telephone: +44(0)20 7138 3205

Tim Blythe

Swiss Resource Capital AG                Telephone: +41(0)71 354 8501

Jochen Staiger