First Quarter Production

17th  April 2023

Griffin Mining Limited (“Griffin” or the “Company”) hereby announces the production results for the three months to 31st March 2023.

    3 months to 31st March 2023 3 months to 31st December


3 months to 31st March 2022
Ore mined Tonnes 355,742 228,510 17,975
Ore processed Tonnes 366,120 184,045 8,649
Zinc in concentrate produced Tonnes 13,965 6,739 268
Gold in concentrate produced Ozs 4,743 2,079 1,474
Silver in concentrate produced Ozs 68,779 59,561 168
Lead in concentrate produced Tonnes 230 215 7
Average zinc price received per tonne USD 2,029 2,116
Average gold price received per oz USD 1,789 1,703
Average silver price received per oz USD 17.7 18.1
Average lead price received per tonne USD 2,407 2,145



Production in the first quarter of 2023 was a record for a first quarter of any year since the commissioning of the Caijiaying Mine in 2005. Production output was unimpeded this quarter by the usual Chinese New Year holidays. Mining and processing rates have been ramped up to now run consistently at the equivalent of circa 1.5 million tonnes of ore per annum bringing with it the expected financial returns.


Chairman Mladen Ninkov commented,

 “What another extraordinary result. The Caijiaying Mine is now clearly showing what it can achieve when it is unencumbered by extraneous events outside the Company’s control. I look forward to an event free 2023 and the results which will thereby be generated.”


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


Further information

Griffin Mining Limited             Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman

Roger Goodwin – Finance Director

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

John Prior

Douglas McLeod

Berenberg                 Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BlytheRay             Telephone: +44(0)20 7138 3205

Tim Blythe