Mining licence update

RNS Number : 6678R

Griffin Mining Ld

30 October 2019

 

Griffin Mining Limited

8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom

Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773

E mail: [e-mail]

Mining Licence Update

30^th October 2019.

Further to the announcements made on 8^th August and 20^th September regarding the progress of Griffin Mining Limited's ("Griffin" or the "Company") Chinese subsidiary's (Hebei Hua Ao Mining Industry Company Limited) mining licence application ("MLA") for Zone II at the Caijiaying Mine with the Beijing Ministry of Natural Resources ("MNR"), the MNR was expected to provide its approval and issuance of the new mining licence within 40 business days of the MLA acceptance date of the 8^th August 2019.  As previously announced, the 40 business day period was suspended on the 13^th August 2019 and reinstated subsequently with 35 business days remaining.  The Company received notification today from the Beijing MNR that further clarification was required concerning farming surface rights, as a result of which the acceptance period was again suspended with effect from 24^th October 2019.  A formal response with the full support of local, municipal and provincial levels of government has been prepared for submission to the Beijing MNR with the expectation it will resolve the issue.

The Company's Chairman Mr. Mladen Ninkov commented, "Yet another administrative delay after so many previous administrative delays in the ongoing MLA process.  I believe shareholders have become far too accustomed to these delays, yet we all hope this is the last and we continue to look forward to the day we receive the new mining licence."

Further information

Griffin Mining Limited:

Mladen Ninkov                    (Chairman)

Roger Goodwin                    (Finance Director & Company Secretary)                 Telephone: [phone]

Panmure Gordon (UK) Limited                                                                                        Telephone: [phone]

               Dominic Morley

Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).

The Company's news releases are available on the Company's web site: www.griffinmining.com

 

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