8th Floor, Royal Trust House, 54-56 Jermyn
Street, London. SW1Y 6LX, United Kingdom
Telephone: + 44 (0)20 7629
7772 Facsimile: + 44 (0)20 7629 7773
E mail:
griffin@griffinmining.com
RECORD SECOND QUARTER
THROUGHPUT & GOLD PRODUCTION
10th July
2024
Griffin Mining Limited ("Griffin" or
the "Company") is pleased to announce record quarterly
production results for the three months to the
30th June 2024.
|
|
|
3 months
to 30th June 2024
|
3 months
to 31st March 2024
|
3 months
to 30th June 2023
|
|
Ore mined
|
Tonnes
|
429,448
|
335,234
|
366,762
|
|
Ore processed
|
Tonnes
|
408,481
|
327,529
|
372,804
|
|
Zinc in concentrate
Produced
|
Tonnes
|
14,779
|
11,423
|
14,130
|
|
Gold in concentrate
produced
|
Ozs
|
6,037
|
5,270
|
3,237
|
|
Silver in concentrate
produced
|
Ozs
|
92,755
|
72,026
|
82,829
|
|
Lead in concentrate
produced
|
Tonnes
|
454
|
277
|
468
|
|
Average zinc price received per
tonne
|
USD
|
2,525
|
2,091
|
1,916
|
|
Average gold price received per
oz
|
USD
|
2,293
|
2,026
|
1,841
|
|
Average silver price received per
oz
|
USD
|
25.7
|
20.1
|
18.9
|
|
Average lead price received per
tonne
|
USD
|
2,924
|
2,868
|
2,276
|
Overview
Record amounts of ore were mined and
processed at the Caijiaying Mine in the quarter ended
30th June 2024 with throughput increasing 9.5% from that
achieved in the second quarter of 2023, producing record quarterly
production of gold in concentrate enabling Griffin to enjoy record
gold prices.
·
Zinc metal concentrate production was up 649
tonnes (4.6%) on that achieved in the second quarter
2023;
·
Gold in concentrate production was up 2,800 ozs
(86.5%) on that achieved in in the second quarter 2023;
·
Silver in concentrate production was up 9,926 ozs
(3.0%) on that achieved in in the second quarter 2023;
and
·
Lead in concentrate production was down 14
tonnes (20.4%) on that achieved in in the second quarter
2023.
The Caijiaying Mine remains on
target to mine and process circa 1.5 million tonnes of ore per
annum.
Good progress is being made to bring
Zone II at the Caijiaying Mine into production in 2025 with ongoing
development work to access and operate Zone II with continuing
construction of underground drives, a new Third Portal and decline
and construction of the new South Ventilation Shaft .
Chairman Mladen Ninkov commented,
"Yet another superb
result. What more needs to be said?"
Change of Name of Nominated Adviser
The Company announces that its
Nominated Adviser and Broker has changed its name to Panmure
Liberum Limited following completion of its corporate
merger.
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
griffinmining.com.
Further information
Griffin Mining Limited
Telephone: +44(0)20 7629
7772
Mladen Ninkov -
Chairman
Roger Goodwin - Finance
Director
Panmure Liberum Limited - Nominated
Adviser & Joint Broker
Telephone: +44 (0)20 7886
2500
Kieron Hodgson
James Sinclair-Ford
Dougie McLeod
Berenberg - Joint
Broker
Telephone: +44(0)20 3207
7800
Matthew
Armitt
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) No. 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("UK
MAR").