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Third quarter production

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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 September 2021.

 

 

3 months to 30th September

2021

3 months to 30th June

2021

3 months to

30th September 2020

Ore mined

Tonnes

306,966

241,112

248,361

Ore processed

Tonnes

291,737

275,576

236,078

Zinc in concentrate Produced

Tonnes

11,607

11,645

7,758

Gold in concentrate produced

Ozs

3,848

4,080

4,906

Silver in concentrate produced

Ozs

68,549

81,098

82,788

Lead in concentrate produced

Tonnes

304

327

400

Average zinc price received per tonne

USD

2,258

2,224

1,595

Average gold price received per oz

USD

1,693

1,684

1,778

Average silver price received per oz

USD

19.6

20.4

19.3

Average lead price received per tonne

USD

2,304

2,026

1,564

Overview

Ore mined and processed have now reached circa 100,000 tonnes of ore per month, all of which has been extracted from Zone III with Zone II yet to come into production. Tonnes processed in the third quarter of 2021 were up 5.9% on that achieved in the second quarter of 2021, whilst a marginal fall in the zinc head grade has resulted in zinc metal in concentrate production in line with the second quarter of 2021.

Chairman Mladen Ninkov commented: “The third quarter operating results continue the wonderful production results from the second quarter. I am particularly delighted with the normalised throughput averaging over 100,000 tonnes per month in the quarter for the first time at the Caijiaying Mine. This bodes extraordinarily well for next year once the Chinese New Year celebrations, the Winter Olympic Games and the Para Olympic Games conclude at the end of the first quarter of 2022. Nevertheless, we remain cautious for the remainder of 2021 in light of a possible restriction of all mining and processing activities, including Caijiaying, in the lead up to the Winter Olympic games.”

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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