Trading Statement

RNS Number : 9613C

Griffin Mining Ld

23 October 2020

 

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]

Trading Statement

23^rd October  2020

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months ended 30^th September 2020.

		3 months to 31st March 2020	3 months to 30th June 2020	3 months to 30th September 2020
Ore mined	Tonnes	114,206	200,484	248,361
Ore processed	Tonnes	126,174	195,340	236,078
Zinc in concentrate Produced	Tonnes	5,017	8,431	7,758
Gold in concentrate produced	Ozs	1,181	1,237	4,906
Silver in concentrate produced	Ozs	41,669	69,163	82,788
Lead in concentrate produced	Tonnes	176	455	400
Average zinc price received per tonne	USD	1,215	1,342	1,595
Average gold price received per oz	USD	1,512	1,600	1,778
Average silver price received per oz	USD	12.9	14.5	19.3
Average lead price received per tonne	USD	1,029	1,203	1,564

Mladen Ninkov, Chairman, commented:

"To better keep the market informed on a more frequent basis, the Company has instituted the above quarterly production schedule which will ensure the market is capable of estimating the financial results of the Company until the interim and annual results are published. As can be deemed from the above production numbers, mining and processing rates in the period have recovered back to pre-Covid levels which, when taken with the higher average metal prices and lower treatment charges, has had a very positive result in terms of the Company's profitability and improved cash flows. The trend seems to be continuing into the fourth quarter."

Further information

Griffin Mining Limited Mladen Ninkov - Chairman Roger Goodwin - Finance Director	Telephone: [phone]
Panmure Gordon (UK) Limited   Dominic Morley	Telephone: [phone]
Berenberg   Matthew Armitt   Jennifer Wyllie   Deltir Elezi	Telephone: [phone]

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

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 si te: www.griffinmining.com

 

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