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Griffin Mining Ld (GFM)

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Friday 23 October, 2020

Griffin Mining Ld

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: [email protected]

 

Trading Statement

 

23rd October  2020

 

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months ended 30th 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: +44(0)20 7629 7772

Panmure Gordon (UK) Limited

  Dominic Morley

 

Telephone: +44 (0)20 7886 2500

Berenberg

  Matthew Armitt

  Jennifer Wyllie

  Deltir Elezi

 

Telephone: +44(0)20 3207 7800

 

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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