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Griffin Mining News
At the annual general meeting held today of the shareholders of Griffin Mining Limited (“Griffin” or the “Company”), all resolutions were passed. At the meeting the Chairman, Mr. Mladen Ninkov, gave a summary report on progress at the Caijiaying zinc gold mine. The Chairman reported that: 1. Production rates continue to be steadily increased and operating costs continue to fall. This has been achieved without, at this stage, the need for any additional capital expenditure. As soon as the increased mill throughput has been sustained for an extended period of time, a further announcement will be made. 2. The feasibility study relating to increasing the mill throughput to 500,000 tonnes per annum is continuing and an announcement is to be expected before the end of the calendar year. 3. Application has been made for further exploration licences over approximately 100 square kilometres in the area surrounding the current mining and exploration licence areas at Caijiaying, emphasising the Company’s opinion of the extraordinarily highly prospective nature of the region surrounding the Caijiaying mine. 4. Studies have commenced to examine whether it may be more profitable for Griffin to produce a precious metals concentrate containing gold, silver, copper and lead rather than gold dore on site. The results of these studies will be announced in due course. Caijiaying continues to out perform management expectations and with the current strong demand for zinc, is expected to deliver excellent results in the foreseeable long term.
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Griffin Mining Limited 6th Floor 60 St James's Street London SW1A 1LE |
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Tel: +44 (0)20 7629 7772 Fax: +44 (0)20 7629 7773 |
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