• Wednesday 14th July 2021

Second Quarter Production

Second Quarter Production

Second Quarter Production

14th July 2021

 

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce production results for the three months to 30th June 2021.

3 months to 30th June 2021 3 months to 31st March 2021 3 months to 30th June 2020
Ore mined Tonnes 241,112 185,520 200,484
Ore processed Tonnes 275,576 200,209 201,013
Zinc in concentrate Produced Tonnes 11,645 8,231 8,431
Gold in concentrate produced Ozs 4,080 3,504 1,237
Silver in concentrate produced Ozs 81,098 63,607 69,163
Lead in concentrate produced Tonnes 327 234 455
Average zinc price received per tonne USD 2,224 2,161 1,332
Average gold price received per oz USD 1,684 1,645 1,589
Average silver price received per oz USD 20.4 20.0 14.4
Average lead price received per tonne USD 2,026 1,591 1,195

 

Overview

Mining and processing have now reached the equivalent of over a million tonnes of ore per annum all of which has been extracted from Zone III with Zone II yet to come into production. Tonnes processed in the second quarter of 2021 were up 37.1% on that achieved in the second quarter of 2021 and zinc metal in concentrate produced was up 38.1% on that achieved in the second quarter of 2020.

Chairman Mladen Ninkov commented, “A tremendous first half year performance, traditionally the Company’s weakest period due to Chinese New Year, where our performance target outlined to shareholders for 2021 is on track to be achieved. Mining and processing, on a monthly basis, have now reached the equivalent of 1.2 million tonnes of ore per annum throughput, all of which has been extracted, as planned, from Zone III. Zone II mine design has been completed and is on target to begin production in 2022. When combined with existing Zone III production, this will enable the Company to deliver on its commitment to reach the 1.5 million tonne production throughput by the end of 2022. Quite frankly, I couldn’t be prouder of this tight band of directors, senior ex pat staff, Chinese employees and contractors. A fantastic team effort.”

 

Further information

Griffin Mining Limited                                                       Telephone: +44 (0)20 76290 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