First Quarter Production
13th April 2021
Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce production results for the three months to 31st March 2021.
| 3 months to 31stMarch 2021 | 3 months to 31stMarch 2020 | ||
| Ore mined | Tonnes | 185,520 | 114,206 |
| Ore processed | Tonnes | 200,209 | 122,523 |
| Zinc in concentrate Produced | Tonnes | 8,231 | 5,017 |
| Gold in concentrate produced | Ozs | 3,504 | 1,181 |
| Silver in concentrate produced | Ozs | 63,607 | 41,669 |
| Lead in concentrate produced | Tonnes | 234 | 176 |
| Average zinc price received per tonne | USD | 2,161 | 1,211 |
| Average gold price received per oz | USD | 1,645 | 1,508 |
| Average silver price received per oz | USD | 20.0 | 12.9 |
| Average lead price received per tonne | USD | 1,591 | 1,026 |
Overview
As in previous years, production in the first quarter of the year was impacted by the Chinese New Year holidays when mining was suspended and processing scaled back as personnel leave during the holiday period allowing maintenance work to be undertaken. Production in the first quarter of 2020 had been impacted by the suspension of operations at Caijiaying imposed by the Chinese authorities for a month in late January / February and subsequent travel restrictions to contain the Covid 19 pandemic. However, tonnes processed in the first quarter of 2021 were up 12.1% on that achieved in the first quarter of 2019 of 178,615 tonnes and zinc metal in concentrate produced was up 12.8% on that achieved in the first quarter of 2019 of 7,303 tonnes.
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 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
Joanna Langley
Berenberg Telephone: +44(0)20 3207 7800
Matthew Armitt
Jennifer Wyllie
Deltir Elezi
Blytheweigh Telephone: +44(0)20 7138 3205
Tim Blythe
Swiss Resource Capital AG Telephone: +41(0)71 354 8501
Jochen Staiger
