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Griffin Mining Ld (GFM)

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Thursday 14 January, 2021

Griffin Mining Ld

Fourth Quarter and Full Year 2020 Production

RNS Number : 6254L
Griffin Mining Ld
14 January 2021
 

 

 

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: [email protected]

 

Fourth Quarter and Full Year 2020 Production

 

14th January 2021.

 

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months and year ended 31st December 2020.

 

 

 

 

3 months to 31st March 2020

3 months to 30th June 2020

3 months to 30th September 2020

3 months to 31st December 2020

Ore mined

Tonnes

114,206

200,484

248,361

291,515

Ore processed

Tonnes

122,523

201,013

225,002

273,520

Zinc in concentrate Produced

Tonnes

5,017

8,431

7,758

11,266

Gold in concentrate produced

Ozs

1,181

1,237

4,906

3,926

Silver in concentrate produced

Ozs

41,669

69,163

82,788

98,681

Lead in concentrate produced

Tonnes

176

455

400

397

Average zinc price received per tonne

USD

1,211

1,332

1,615

1,992

Average gold price received per oz

USD

1,508

1,589

1,800

1,764

Average silver price received per oz

USD

12.9

14.4

19.5

19.1

Average lead price received per tonne

USD

1,026

1,194

1,584

1,286

 

 

 

 

Year to

31st December 2020

Year to

31st December 2019

Ore mined

Tonnes

854,566

862,029

Ore processed

Tonnes

822,058

930,613

Zinc in concentrate Produced

Tonnes

32,472

37,413

Gold in concentrate produced

Ozs

11,250

17,768

Silver in concentrate produced

Ozs

292,301

344,228

Lead in concentrate produced

Tonnes

1,428

1,219

Average zinc price received per tonne

USD

1,638

1,471

Average gold price received per oz

USD

1,752

1,318

Average silver price received per oz

USD

17.6

13.8

Average lead price received per tonne

USD

1,334

1,575

 

 

 

Overview

As reported in our Interim Statement (published on 23 July), production for the first six months of 2020 was impacted by the suspension of operations at Caijiaying imposed by the Chinese authorities for a month in late January / February and subsequent travel restrictions with consequent difficulties in returning mining personnel to Caijiaying resulting in reduced levels of activity.

The situation at the mine site started to improve from March onwards and by the second half of the year, Caijiaying was approaching pre-Covid levels of production.

 

Mladen Ninkov, Chairman, commented:

" I'm extremely pleased with the operating results for 2020, in particular considering all the difficulties associated with COVID-19. The last quarter's results indicate what the Company can and will deliver in 2021. "

 

 

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 giffinmining.com.


Further information

 

Griffin Mining Limited

Mladen Ninkov - Chairman  Telephone: +44(0)20 7629 7772

Roger Goodwin - Finance Director

 

Panmure Gordon (UK) Limited                                       Telephone: +44 (0)20 7886 2500

  John Prior

  Joanna Langley

 

Berenberg                                                                          Telephone: +44(0)20 3207 7800

    Matthew Armitt

Jennifer Wyllie

Deltir Elezi

 

Blytheweigh

  Tim Blythe                                                              Telephone: +44(0)20 7138 3205

 

 

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