NEWS

TRANSACTION IN OWN SHARES

TRANSACTION IN OWN SHARES

 8 March 2021

 

Griffin Mining Limited announces that on 8 March 2021 it purchased 47,500 ordinary shares of $0.01 each (“Ordinary Shares”) on the London Stock Exchange through Panmure Gordon (UK) Limited, in accordance with the terms of its share buy-back programme (the “Buy-back”) announced on 25 February 2021 (the “Programme”). The purchased shares will be held in treasury.

 

Date of purchase:                                                                                  8 March 2021

Aggregate number of ordinary shares purchased:                                     47,500

Lowest price paid per share (pence per share):                                           128

Highest price paid per share (pence per share):                                          132

Volume weighted average price paid per share (pence per share):             128

 

The total number of ordinary shares of the Company (including treasury shares) following the purchase is 174,492,894. The Company now holds 627,500 shares in treasury. The total voting rights of the Company following the purchase is 173,865,394.

The total voting rights figure (173,865,394) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Griffin Mining Limited under the FCA’s Disclosure and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedules below contain a summary of and detailed information about the purchases made by the Company’s broker, Panmure Gordon (UK) Limited on behalf of the Company.

 

Number of shares purchased Transaction price (pence per share) Time of transaction Execution venue
25,000 128 13:42 LSE
17,500 128 13:59 LSE
5,000 132 16:23 LSE

 

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

Joanna Langley

Berenberg                                                                  Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

TRANSACTION IN OWN SHARES

TRANSACTION IN OWN SHARES

 1 March 2021

 

Griffin Mining Limited announces that on 1 March 2021 it purchased 15,000 ordinary shares of $0.01 each (“Ordinary Shares”) on the London Stock Exchange through Panmure Gordon (UK) Limited, in accordance with the terms of its share buy-back programme (the “Buy-back”) announced on 25 February 2021 (the “Programme”). The purchased shares will be held in treasury.

 

Date of purchase:                                                                                  1 March 2021

Aggregate number of ordinary shares purchased:                                      15,000

Lowest price paid per share (pence per share):                                           139

Highest price paid per share (pence per share):                                          139

Volume weighted average price paid per share (pence per share):             139

 

The total number of ordinary shares of the Company (including treasury shares) following the purchase is 174,492,894. The Company now holds 580,000 shares in treasury. The total voting rights of the Company following the purchase is 173,912,894.

The total voting rights figure (173,912,894) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Griffin Mining Limited under the FCA’s Disclosure and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedules below contain a summary of and detailed information about the purchases made by the Company’s broker, Panmure Gordon (UK) Limited on behalf of the Company.

 

Number of shares purchased Transaction price (pence per share) Time of transaction Execution venue
15,000 139 14:52 LSE

 

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

Joanna Langley

Berenberg                                                                  Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

TRANSACTION IN OWN SHARES

TRANSACTION IN OWN SHARES

 26 February 2021

 

Griffin Mining Limited announces that on 26 February 2021 it purchased 25,000 ordinary shares of $0.01 each (“Ordinary Shares”) on the London Stock Exchange through Panmure Gordon (UK) Limited, in accordance with the terms of its share buy-back programme (the “Buy-back”) announced on 25 February 2021 (the “Programme”). The purchased shares will be held in treasury.

 

Date of purchase:                                                                                  26 February 2021

Aggregate number of ordinary shares purchased:                                         25,000

Lowest price paid per share (pence per share):                                             143

Highest price paid per share (pence per share):                                            143

Volume weighted average price paid per share (pence per share):               143

 

The total number of ordinary shares of the Company (including treasury shares) following the purchase is 174,492,894. The Company now holds 565,000 shares in treasury. The total voting rights of the Company following the purchase is 173,927,894.

The total voting rights figure (173,927,894) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Griffin Mining Limited under the FCA’s Disclosure and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedules below contain a summary of and detailed information about the purchases made by the Company’s broker, Panmure Gordon (UK) Limited on behalf of the Company.

Number of shares purchased Transaction price (pence per share) Time of transaction Execution venue
       
25,000 143 14:22 LSE

 

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

Joanna Langley

Berenberg                                                                  Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

OPERATIONAL UPDATE RE: RECOMMENCEMENT OF OPERATIONS

Operational Update Re: Recommencement of operations

 21st February 2020

 

Further to the announcements made by Griffin Mining Limited (“Griffin”) on 29th January, 5th and 13th February 2020, Griffin is pleased to announce that operations have now recommenced at the Caijiaying Zinc Gold mine.

 

Further information

Griffin Mining Limited:

Mladen Ninkov               (Chairman)

Roger Goodwin               (Finance Director & Company Secretary)             Telephone: +44 (0)20 7629 7772

John Prior                      Numis Securities Limited                                     Telephone: +44 (0)20 7260 1000

Alamgir Ahmed

PDMR SHAREHOLDING

PDMR SHAREHOLDING

7th December 2020

 

Griffin Mining Limited (“Griffin”) has been advised that Mark Hine, Chief Operating Officer of Griffin, has on 5th January 2021 sold 80,000 ordinary shares in Griffin at a price of 113 pence per share.

 

To view the detail of this announcement, please click here.

NEW TOTAL GLOBAL MINERAL RESOURCE STATEMENT

New Total Global Mineral Resource Statement

 50% Increase in Mineral Resource at Caijiaying Zinc-Gold Mine to

101.5 million tonnes

 US$17.7 Billion Metal in Situ[1]

 18th February 2021

 

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce the new Global Mineral Resource estimate for it’s Caijiaying Zinc-Gold Mine in the People’s Republic of China. The new Global Mineral Resources from the 4 main deposit “Zones”, reported in accordance with the JORC Code (2012) , total:

  • 101.5 million tonne Global Mineral Resource (from 67.7 million tonnes[2])
  • 4.0 million tonnes of Zinc Metal (from 2.7 million tonnes2)
  • 1.6 million ounces of Gold (from 1.0 million ounces2)
  • 88.8 million ounces of Silver (from 48.5 million ounces2)
  • 0.6 million tonnes of Lead (from 0.2 million tonnes2) 

The global Measured, Indicated and Inferred Mineral Resource estimate totals 101.5 Mt at 3.9% Zn, 0.6% Pb, 27.0 g/t Ag and 0.5 g/t Au, resulting in total contained metal of approximately 4.0 million tonnes of zinc metal, 0.6 million tonnes of lead metal, 88.8 million ounces of silver metal and 1.59 million ounces of gold metal.

This is an increase of 33.9 Mt (50%) from the previous mineral resource, which incorporated Zone II and III only,  of 67.6Mt @ 3.9% Zn, 0.4% Pb, 22.3g/t Ag and 0.5 g/t Au, as reported on 16th June 2020 in Griffin’s 2019 annual report and accounts.

The contained metal has increased from approximately 2.653 to 3.968 million tonnes of zinc metal, 0.242 to 0.606 million tonnes of lead, 48.5 to 88.8 million ounces of silver and 1.025 to 1.593 million ounces of gold.

The Mineral Resources at Caijiaying are distributed among four “Zones” with the main line of lodes stretching 3km in strike. Zones II, III and VIII are all accessible from the existing mine infrastructure while Zone V is located just 0.8km west of Zone II. As previously announced by the Company on the 4th January 2021, the Zone II and III Mineral Resources are located within a single newly expanded Mining Licence where the current underground mining activity is focused on the Zone III resources. This recent resource increase has now triggered a development programme to be commenced to enable increased production to 1.5 Mt per annum, delivering an 80% production increase in the next two years.

In the future, an additional mine expansion may be delivered with the inclusion of the Zone V and VIII Mineral Resources that are located within the Company’s Retention Licence adjacent to the west of Zone II and north of Zone III, respectively.  The Retention Licence is valid for two years and is the first step in the process of converting the area to a Mining Licence.

The strategy of focusing on near-mine exploration and resource definition drilling has delivered substantial growth to the Caijiaying Mineral Resources. At Zone VIII, surface drilling has defined the northern extension to Zone III a further 500m along strike where it remains open at depth. The Zone V Mineral Resource is the result of detailed research into the historical data set. This significant body of work has enabled the Inferred Mineral Resource estimate to JORC 2012 compliance. Further work is planned to unlock the full potential of these maiden resources.

Further information in relation to the Mineral Resource estimate is set out in the appendix to this announcement, and is also available on the Company’s website, www.griffinmining.com

Chairman Mladen Ninkov said “Finally, the vast potential of Caijiaying has been uncovered and confirms the absolute world class nature of the deposit. I am so delighted for the shareholders, directors and staff of Griffin, and in particular, our great friend and recently departed director Rupert Crowe, who believed in, and toiled so passionately for, Caijiaying. Yet we are still only in the earliest of stages of our journey of understanding what still could lie around us and below us. Remarkable!”

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Mineral Resources is based on, and fairly reflects, information compiled by Mr Serikjan Urbisinov a Competent Person, who is a Member of the Australian Institute of Geoscientists. Mr Serikjan Urbisinov is a full-time employee of CSA Global Pty Ltd. Mr Serikjan Urbisinov has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Serikjan Urbisinov consents to the disclosure of the information in this announcement of the matters based on his information in the form and context in which it appears.

[1]The insitu metal value is the result of the Company’s assessment based on LME spot metal prices at 16/02/2021 and does not consider modifying factors such as the cost of metal extraction and recovery.

[2] The relative increase in resources compares the current Global Mineral Resource to the total Zone II and Zone III Mineral Resource as at 31st December 2019.

 

To view the full statement, please click here.

 

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

Joanna Langley

BERENBERG                         Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BLYTHEWEIGH               Telephone: +44(0)20 7138 3205

Tim Blythe

Announcement re Rupert Crowe

Rupert Crowe

 In Memorium

 11th February 2021

 

Griffin Mining Limited (“Griffin” or the “Company”) is devastated to announce the passing yesterday of it’s main board director, Rupert Crowe, after a short illness. Rupert was a giant of the oil & gas and hard rock mining industries culminating in his creating the premier international geological consultancy firm CSA Global and discovering the Caijiaying Zinc & Gold deposit. The directors and staff of the Company cannot begin to express their sorrow and will sorely miss his wisdom, expertise and counsel. As is absolutely appropriate, the staff at Caijiaying have set the flags at Caijiaying at half-mast in his honour.

Chairman Mladen Ninkov commented, “Every mineral discovery requires a champion. Someone who believes when all around do not believe. Rupert was that person. Without him Caijiaying would have remained an empty valley in China. An extraordinary, brilliant geologist, the Father of Caijiaying and, far more importantly, a gracious, gentle, considered, dedicated, intelligent human being it has been my absolute privilege to know and to have spent a large portion of my working life. I shall not see his like again.

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

 

 

Announcement re Zone II resource January 2021

SUBSTANTIALLY INCREASED ZONE II RESOURCE AT RECENTLY GRANTED MINING LICENCE AREA

107% INCREASE IN THE MINERAL RESOURCE AT JUST ZONE II

$7.1 BILLION METAL IN SITU IN JUST ZONE II

MINERAL RESOURCE ESTIMATES FOR CURRENTLY MINED ZONE III AREA AND NEW ZONES V & VIII AREAS TO BE ANNOUNCED IN NEAR FUTURE

26TH JANUARY 2021

Griffin Mining Limited (“Griffin” or the “Company”) is delighted to announce a significant increase to the Zone II Mineral Resource at the Caijiaying Mine. These additional Indicated and Inferred Mineral Resources are located immediately adjacent to the south of Zone III and within the recently approved Mining Licence (See Company Announcement “Issue of New Mining Licence” dated 4th January 2021).

These new resources, which are reported in compliance with The JORC Code, are in addition to the Zone III Mineral Resource currently being mined at the Caijiaying Zinc-Gold deposit. The highlights include:

  • 1.49 million tonnes of Zinc Metal (from 0.638 million tonnes)
  • 463,000 ounces of Gold (from 164,000 ounces)
  • 36.8 million ounces of Silver (from 15.5 million ounces)The new Zone II Indicated and Inferred Mineral Resource estimate comprises 40.7 Mt at 3.7% Zn, 0.9% Pb, 28.4 g/t Ag and 0.4 g/t Au, resulting in total contained metals of approximately 1.49 Mt of zinc metal, 36.Moz of silver metal, and 0.46 Moz of gold metal.This is an increase of 21.1 Mt (107%) from the previously reported Zone II Mineral Resource of 19.6 Mt at 3.3% Zn, 0.7% Pb, 24.6 g/t Ag and 0.3 g/t Au (Company Annual Report “Results for 2018 and Annual Report and Accounts” dated 30th April 2019).

    Regarding the contained metal this is an increase from approximately 0.6 Mt to 1.5 Mt of zinc metal, from 0.14 Mt to 0.38 Mt of lead, from 15.5 Moz to 36.8 Moz of silver and from 0.16 Moz to 0.46 Moz of gold.

    The large increase in resources at Zone II is the result of the significantly improved geological understanding of the structural controls on mineralisation, and on mineralogical associations gained from the extensive work over many years, together with a more recent detailed re-logging and assaying review of selected areas within Zone II. As underground access and mining activities progress into 2021, further improvements to the geological model are expected.

    Further information in relation to the Mineral Resource estimate is set out in the appendix to this announcement.

    Chairman Mladen Ninkov said “The substantial increase to the yet unmined Zone II resource justifies the long wait for the new Mining Licence and guarantees the increased mining throughput and mine life of Caijiaying for decades to come. I couldn’t be happier for the shareholders of the Company who have waited so patiently and so eagerly for this day. We look forward now to the estimation and announcement of the total global Caijiaying resource in the near future.”

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Mineral Resources is based on, and fairly reflects, information compiled by Mr Serikjan Urbisinov a Competent Person, who is a Member of the Australian Institute of Geoscientists. Mr Serikjan Urbisinov is a full-time employee of CSA Global Pty Ltd. Mr Serikjan Urbisinov has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Serikjan Urbisinov consents to the disclosure of the information in this announcement of the matters based on his information in the form and context in which it appears.

*The insitu metal value is the result of the Company’s’ assessment and does not consider modifying factors such as the cost of metal extraction and recovery.

 

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
Joanna Langley

BERENBERG                                   Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BLYTHEWEIGH                           Telephone: +44(0)20 7138 3205

Tim Blythe

 

 

To view the full announcement, please click here.