NEWS

Notice of Annual General Meeting

Notice of the Annual General Meeting of Griffin Mining Ltd (“the Company”) to be held at Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda on Tuesday 26th June 2018 at 11.00 am, has been sent to shareholders and is available in a PDF document here.

Transaction in Own Shares

Griffin Mining Ltd (“the Company”) announces that on 11th May 2018 it purchased 25,000 of the Company’s own ordinary shares (“Ordinary Shares”) at a price of 151p per Ordinary Share. The Ordinary Shares have been purchased to be held in treasury for the time being. Following completion of the purchase of these Ordinary Shares there will be 90,000 Ordinary Shares held in treasury.

The purchase represented 0.01% of the Company’s issued share capital and was pursuant to the bye-laws of the Company and a resolution of the directors.

To view or download a PDF copy of this announcement, please click here.

Transaction in Own Shares

Griffin Mining Ltd (“the Company”) announces that on 8th May 2018 it purchased 25,000 of the Company’s own ordinary shares (“Ordinary Shares”) at a price of 154p per Ordinary Share. The Ordinary Shares have been purchased to be held in treasury for the time being. Following completion of the purchase of these Ordinary Shares there will be 65,000 Ordinary Shares held in treasury.

The purchase represented 0.01% of the Company’s issued share capital and was pursuant to the bye-laws of the Company and a resolution of the directors.

To view or download a PDF copy of the announcement, please click here.

Update on Exercise of Options

Griffin Mining Ltd (“the Company”) announced on 1st May 2018 that options over 60,000 new ordinary shares in the Company had been exercised and that application would be made for admission of such shares to trading. It was expected that admission would become effective on 8th May 2018.

It is now expected that admission of the new ordinary shares will become effective on 14th May 2018.

To download a PDF copy of the announcement, please click here.

Exercise of Options

Griffin Mining Ltd (“the Company”) announces that the Company was notified on 27th April 2018 of the exercise of options (“the Options”) by former management over 60,000 new ordinary shares in the Company granted in February 2015 at an exercise price of 30p per share.

Following the exercise of the Options there will be 172,512,061 Ordinary Shares in the Company in issue. There are no shares held in treasury.

For a full copy of the announcement as a PDF document please click here.

Exercise of Options

Griffin Mining Ltd (“the Company”) announces that the Company has been notified on 16th April 2018 of the exercise of options (“the Options”) over 2,458,334 new ordinary shares in the Company granted to the directors and management in February 2015 at an exercise price of 30p per share to raise £737,500 for the Company.

 

For a full copy of the announcment as a PDF document please click here.

Annual Report and Accounts 2017

Griffin Mining Limited (“Griffin” or the “Company”) has today published its annual report and accounts for the year ended 31st December 2017 and is available to view in the financials.

Griffin and its subsidiaries (together the “Group”) recorded record production, revenues and profits in 2017 with;

  • Revenues of $126,657,000 (2016: $66,270,000) up 91%;
  • Operating profit of $63,773,000 (2016: $15,201,000) up 319%;
  • Profit before tax of $60,877,000 (2016: $10,382,000) up 486%;
  • Profit after tax of $43,321,000 (2016: $5,914,000) up 633%; and
  • Earnings per share of 24.6 cents (2016: 3.3 cents) up 645%.

Cash generated from operating activities of $77.4m enabled all bank loans to be repaid with $46m repaid in 2017 as well enabling the Group to invest $13.3m in further development of the Caijiaying mine, exploration and equipment purchases.

A copy of the full announcement is available for download in a PDF document here.

 

Griffin Mining Group Totally Debt Free

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce that its Chinese subsidiary, Hebei Hua Ao Mining Industry Company limited (“Hebei Hua Ao”), having incurred approximately $67 million in debt over the past number of years for plant upgrades and mine development, has now repaid all outstanding bank loans, including $44.7 million repaid during 2017. The Company and its subsidiaries are now debt free.

For a copy of the announcement as a PDF download please click here.