Trading Statement

RNS Number : 0942H

Griffin Mining Ld

15 February 2010

 



60 St James's Street, London SW1A 1LE, United Kingdom

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

E mail: [e-mail]

15th February 2010

TRADING STATEMENT

Increased Production

Griffin Mining Limited ("Griffin" or the "Company") is pleased to report increased production at its Caijiaying Zinc Gold Mine and processing facilities in the quarter to 31^st December 2009.

In the fourth quarter of 2009 125,379 tonnes of ore were processed compared to 114,233 tonnes in the third quarter to produce 7,141 tonnes of zinc (3^rd quarter 6,783 tonnes), 1,673 ounces of gold (3^rd quarter 1,251 ounces), 29,695 ounces of silver (3^rd quarter 38,019 ounces) and 138 tonnes of lead (3^rd quarter 218 tonnes). 

Following the grant of a new mining licence permitting the extraction of ore below the 1300 level, mine development and stope preparation below the 1300 level is now underway with the expectation of ore being extracted from the lower levels later this quarter.  Work is also continuing on the upgrade of the processing plant and tailings dams to increase processing capacity to 750,000 tonnes of ore per annum by the autumn of 2010.

Mladen Ninkov, Griffin's Chairman, commented as follows: "The operating performance of the Caijiaying mine continues to improve and we look forward to even better results as the next levels of the mine are accessed and the plant upgrade is completed."

 

Further information

Mladen Ninkov - Chairman                                                                               Telephone: [phone]

Roger Goodwin - Finance Director

Griffin Mining Limited

Investec Investment Banking:

Stephen Cooper                                                                                                  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

 

 

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