Trading Statement

Griffin Mining Limited

10 July 2024

 

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]

RECORD SECOND QUARTER THROUGHPUT & GOLD PRODUCTION

10^th  July 2024

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce record quarterly production results for the three months to the 30^th June 2024.

		3 months to 30th  June 2024	3 months to 31st March 2024	3 months to 30th  June 2023
Ore mined	Tonnes	429,448	335,234	366,762
Ore processed	Tonnes	408,481	327,529	372,804
Zinc in concentrate Produced	Tonnes	14,779	11,423	14,130
Gold in concentrate produced	Ozs	6,037	5,270	3,237
Silver in concentrate produced	Ozs	92,755	72,026	82,829
Lead in concentrate produced	Tonnes	454	277	468
Average zinc price received per tonne	USD	2,525	2,091	1,916
Average gold price received per oz	USD	2,293	2,026	1,841
Average silver price received per oz	USD	25.7	20.1	18.9
Average lead price received per tonne	USD	2,924	2,868	2,276

Overview

Record amounts of ore were mined and processed at the Caijiaying Mine in the quarter ended 30^th June 2024 with throughput increasing 9.5% from that achieved in the second quarter of 2023, producing record quarterly production of gold in concentrate enabling Griffin to enjoy record gold prices.

·     Zinc metal concentrate production was up 649 tonnes (4.6%) on that achieved in the second quarter 2023;

·    Gold in concentrate production was up 2,800 ozs (86.5%) on that achieved in in the second quarter 2023;

·    Silver in concentrate production was up 9,926 ozs (3.0%) on that achieved in in the second quarter 2023; and

·    Lead  in concentrate production was down 14 tonnes (20.4%) on that achieved in in the second quarter 2023.

The Caijiaying Mine remains on target to mine and process circa 1.5 million tonnes of ore per annum.   

Good progress is being made to bring Zone II at the Caijiaying Mine into production in 2025 with ongoing development work to access and operate Zone II with continuing construction of underground drives, a new Third Portal and decline and construction of the new South Ventilation Shaft .  

Chairman Mladen Ninkov commented,

"Yet another superb result. What more needs to be said?"

Change of Name of Nominated Adviser

The Company announces that its Nominated Adviser and Broker has changed its name to Panmure Liberum Limited following completion of its corporate merger.

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 griffinmining.com.

Further information

Griffin Mining Limited

Telephone: [phone]

Mladen Ninkov - Chairman                           

Roger Goodwin - Finance Director

Panmure Liberum Limited - Nominated Adviser & Joint Broker

Telephone: [phone]

             Kieron Hodgson

             James Sinclair-Ford

             Dougie McLeod

Berenberg  - Joint Broker 

Telephone: [phone]

            Matthew Armitt

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

 

END