TIDMGFM
RNS Number : 7095Y
Griffin Mining Ld
18 January 2022
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
2021 Full Year & Fourth Quarter Production
18(th) January 2022 .
Griffin Mining Limited ("Griffin" or the "Company") announces
the production results from the Caijiaying Zinc Gold Mine for the
three months and year ended 31(st) December 2021.
3 months 3 months
to 31(st) to 30(th) 3 months 3 months
December September to 30(th) to 31(st)
2021 2021 June 2021 March 2021
Ore mined Tonnes 201,894 306,966 277,112 185,520
-------- ----------- ----------- ----------- ------------
Ore processed Tonnes 217,882 291,737 275,576 200,209
-------- ----------- ----------- ----------- ------------
Zinc in concentrate
Produced Tonnes 10,104 11,607 11,645 8,231
-------- ----------- ----------- ----------- ------------
Gold in concentrate
produced Ozs 3,015 3,848 4,080 3,504
-------- ----------- ----------- ----------- ------------
Silver in concentrate
produced Ozs 56,316 68,549 81,098 63,607
-------- ----------- ----------- ----------- ------------
Lead in concentrate
produced Tonnes 204 304 327 234
-------- ----------- ----------- ----------- ------------
Average zinc
price received
per tonne USD 2,496 2,258 2,224 2,160
-------- ----------- ----------- ----------- ------------
Average gold
price received
per oz USD 1,696 1,693 1,684 1,645
-------- ----------- ----------- ----------- ------------
Average silver
price received
per oz USD 18.4 19.6 20.4 20.0
-------- ----------- ----------- ----------- ------------
Average lead
price received
per tonne USD 2,226 2,304 2,026 1,590
-------- ----------- ----------- ----------- ------------
Year to Year to
31(st) December 31st December
2021 2020
Ore mined Tonnes 971,492 854,566
-------- ----------------- ---------------
Ore processed Tonnes 985,404 822,058
-------- ----------------- ---------------
Zinc in concentrate Produced Tonnes 41,587 32,472
-------- ----------------- ---------------
Gold in concentrate produced Ozs 14,447 11,250
-------- ----------------- ---------------
Silver in concentrate produced Ozs 269,570 292,301
-------- ----------------- ---------------
Lead in concentrate produced Tonnes 1,069 1,428
-------- ----------------- ---------------
Average zinc price received
per tonne USD 2,311 1,645
-------- ----------------- ---------------
Average gold price received
per oz USD 1,748 1,759
-------- ----------------- ---------------
Average silver price received
per oz USD 20.4 17.7
-------- ----------------- ---------------
Average lead price received
per tonne USD 2,074 1,339
-------- ----------------- ---------------
Overview
The 2021 calendar year produced an outstanding operational
result in terms of ore mined, ore processed and, most importantly,
Zinc and Gold produced. This was in spite of the fact that
production was impacted in the fourth quarter by increasing
constraints caused by the impending Chinese New Year, Winter
Olympic Games and the Paralympic Games, including the reduction in
the control of the supply of explosives.
Zinc metal in concentrate production for 2021 was up 28.1% on
that achieved in 2020, whilst average zinc prices received in 2021
were up 40.5% on that received in 2021, with higher market prices
and lower smelter treatment charges.
Mladen Ninkov, Chairman, commented:
"The 2021 production results are outstanding in their own right,
made even more exceptional in light of the normal suspension of
activities in the first quarter and the last quarter's slowdown as
the Chinese New Year and Winter Olympics approached and government
restrictions began to be imposed . It is a credit to both the
Western and Chinese operational staff that this result has been
achieved. "
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 Telephone: +44 (0)20 7629 7772
Mladen Ninkov - Chairman
Roger Goodwin - Finance Director
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
John Prior
Ailsa Macmaster
Berenberg Telephone: +44 (0)20 3207 7800
Matthew Armitt
Jennifer Wyllie
Deltir Elezi
Blythewigh Telephone: +44(0)20 7138 3205
Tim Blythe
Megan Ray
Swiss Resource Capital AG Telephone: + 41(0)71 354 8501
Jochen Staiger
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