TIDMGFM
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: griffin@griffinmining.com
Fourth Quarter and Full Year 2020 Production
14(th) January 2021.
Griffin Mining Limited ("Griffin" or the "Company") is pleased
to announce production results for the three months and year ended
31(st) December 2020.
3 months 3 months 3 months 3 months
to 31(st) to 30(th) to 30(th) to 31(st)
March 2020 June 2020 September December
2020 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 Year to
31(st) December 31st December 2019
2020
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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