Trading Update

RNS Number : 9433C

Griffin Mining Ld

20 June 2019

 

20 June 2019

GRIFFIN MINING LIMITED

TRADING UPDATE

Griffin Mining Limited ("Griffin" or the "Company") wishes to provide a trading update in respect of trends indicated in the first 5 months of 2019 which, should current zinc prices and smelter treatment charges remain unchanged for the remainder of the year, will inevitably lead to the Company failing to meet market expectations for its 2019 full year. results.

Revenues have been impacted by increased smelter treatment charges with zinc smelter charges increasing by 65% from the same period in 2018. This follows the closure of a number of smelters in China, primarily for environmental reasons, impacting demand for zinc concentrate in China.  Griffin's Zinc and gold in concentrate production and costs are expected to be broadly in line with market expectations.

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU.

Further information

Griffin Mining Limited Mladen Ninkov - Chairman Roger Goodwin - Finance Director and Company Secretary	Telephone: [phone]
Panmure Gordon (UK) Limited Dominic Morley	Telephone: [phone]

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

 

END

 

 

TSTURSSRKKANUAR