• Tuesday 13th April 2021

FIRST QUARTER PRODUCTION

FIRST QUARTER PRODUCTION

First Quarter Production

13th April 2021

 

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce production results for the three months to 31st March 2021.

 

    3 months to 31stMarch 2021 3 months to 31stMarch 2020
Ore mined Tonnes 185,520 114,206
Ore processed Tonnes 200,209 122,523
Zinc in concentrate Produced Tonnes 8,231 5,017
Gold in concentrate produced Ozs 3,504 1,181
Silver in concentrate produced Ozs 63,607 41,669
Lead in concentrate produced Tonnes 234 176
Average zinc price received per tonne USD 2,161 1,211
Average gold price received per oz USD 1,645 1,508
Average silver price received per oz USD 20.0 12.9
Average lead price received per tonne USD 1,591 1,026

 

Overview

As in previous years, production in the first quarter of the year was impacted by the Chinese New Year holidays when mining was suspended and processing scaled back as personnel leave during the holiday period allowing maintenance work to be undertaken.  Production in the first quarter of 2020 had been impacted by the suspension of operations at Caijiaying imposed by the Chinese authorities for a month in late January / February and subsequent travel restrictions to contain the Covid 19 pandemic. However, tonnes processed in the first quarter of 2021 were up 12.1% on that achieved in the first quarter of 2019 of 178,615 tonnes and zinc metal in concentrate produced was up 12.8% on that achieved in the first quarter of 2019 of 7,303 tonnes.

 

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

Joanna Langley

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