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Second Quarter Production 14th July 2021

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Griffin Mining Limited ("Griffin" or the "Company" - https://www.commodity-tv.com/ondemand/companies/profil/griffin-mining-ltd/ ) 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.”

 

 

 

 

 

 

 

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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