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2021 Full Year & Fourth Quarter Production

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Griffin Mining Limited, 18th January 2022, ("Griffin" or the "Company" - https://www.commodity-tv.com/ondemand/companies/profil/griffin-mining-ltd/ ) announces the production results from the Caijiaying Zinc Gold Mine for the three months and year ended 31st December 2021.

  

3 months to 31st December 2021

3 months to 30th September 2021

3 months to 30th June 2021

3 months to 31st March 2021

Ore mined

Tonnes

201,894

306,966

277,112

185,520

Ore processed

Tonnes

217,882

291,737

275,576

200,209

Zinc in concentrate Produced

Tonnes

10,104

11,607

11,645

8,231

Gold in concentrate produced

Ozs

3,015

3,848

4,080

3,504

Silver in concentrate produced

Ozs

56,316

68,549

81,098

63,607

Lead in concentrate produced

Tonnes

204

304

327

234

Average zinc price received per tonne

USD

2,496

2,258

2,224

2,160

Average gold price received per oz

USD

1,696

1,693

1,684

1,645

Average silver price received per oz

USD

18.4

19.6

20.4

20.0

Average lead price received per tonne

USD

2,226

2,304

2,026

1,590

  

Year to

31st December 2021

Year to

31st December 2020

Ore mined

Tonnes

971,492

854,566

Ore processed

Tonnes

985,404

822,058

Zinc in concentrate Produced

Tonnes

41,587

32,472

Gold in concentrate produced

Ozs

14,447

11,250

Silver in concentrate produced

Ozs

269,570

292,301

Lead in concentrate produced

Tonnes

1,069

1,428

Average zinc price received per tonne

USD

2,311

1,645

Average gold price received per oz

USD

1,748

1,759

Average silver price received per oz

USD

20.4

17.7

Average lead price received per tonne

USD

2,074

1,339

 

 

Overview

The 2021 calendar year produced an outstanding operational result in terms of ore mined, ore processed and, most importantly, Zinc and Gold produced. This was in spite of the fact that production was impacted in the fourth quarter by increasing constraints caused by the impending Chinese New Year, Winter Olympic Games and the Paralympic Games, including the reduction in the control of the supply of explosives. 

Zinc metal in concentrate production for 2021 was up 28.1% on that achieved in 2020, whilst average zinc prices received in 2021 were up 40.5% on that received in 2021, with higher market prices and lower smelter treatment charges.

 

Mladen Ninkov, Chairman, commented:

“The 2021 production results are outstanding in their own right, made even more exceptional in light of the normal suspension of activities in the first quarter and the last quarter’s slowdown as the Chinese New Year and Winter Olympics approached and government restrictions began to be imposed. It is a credit to both the Western and Chinese operational staff that this result has been achieved.”

 

 

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

Mladen Ninkov – Chairman Telephone: +44(0)20 7629 7772

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500

John Prior

Alisa MacMaster

 

Berenberg Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

Blytheweigh

Tim Blythe Telephone: +44(0)20 7138 3205

 

Swiss Resource Capital AG

Jochen Staiger

[email protected]

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

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