TIDMGFM

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: griffin@griffinmining.com

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     3 months         3 months to 
                                     31(st) March    to 30(th)    30(th) September 
                                             2020    June 2020                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              Telephone: +44(0)20 7629 7772 
             Mladen Ninkov - Chairman 
             Roger Goodwin - Finance Director 
 Panmure Gordon (UK) Limited                    Telephone: +44 (0)20 7886 2500 
  Dominic Morley 
 Berenberg                                      Telephone: +44(0)20 3207 7800 
  Matthew Armitt 
  Jennifer Wyllie 
  Deltir Elezi

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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END

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October 23, 2020 02:00 ET (06:00 GMT)

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