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Griffin Mining Limited announced production results for its Caijiaying Zinc Gold Mine for the three months and year ended 31st December 2024. For the full year 2024, total ore mined was 1,146,146 tonnes, zinc in concentrate produced was 39,444 tonnes, and gold in concentrate produced was 16,142 ozs. Operations at the mine were suspended from October 11, 2024, to January 1, 2025, following a fatality, with Q4 2024 production including 43,918 tonnes of ore mined and 1,399 tonnes of zinc in concentrate.
| Date | 31 Jan 2025 |
| Time | 07:00:01 |
| Category | Corporate updates |
| ID | 3245V |
E mail: [email protected]
Disrupted Fourth Quarter & Full Year Production 2024
31st January 2025
Griffin Mining Limited ("Griffin" or the "Company") announces the production results from the Caijiaying Zinc Gold Mine for the disrupted three months and year ended 31st December 2024.
|
|
|
3 months to 31 December 2024 |
3 months to 30 September 2024 |
3 months to 30 June 2024 |
3 months to 31 March 2024 |
|
Ore mined |
Tonnes |
43,918 |
337,547 |
429,448 |
335,234 |
|
Ore processed |
Tonnes |
36,310 |
396,778 |
408,481 |
327,529 |
|
Zinc in concentrate produced |
Tonnes |
1,399 |
11,843 |
14,779 |
11,423 |
|
Gold in concentrate produced |
Ozs |
731 |
4,105 |
6,037 |
5,270 |
|
Silver in concentrate produced |
Ozs |
15,640 |
95,276 |
92,755 |
72,026 |
|
Lead in concentrate produced |
Tonnes |
97 |
468 |
454 |
277 |
|
Average zinc price received per tonne |
USD |
2,663 |
2,584 |
2,525 |
2,091 |
|
Average gold price received per oz |
USD |
2,519 |
2,343 |
2,293 |
2,026 |
|
Average silver price received per oz |
USD |
26.8 |
25.7 |
25.7 |
20.1 |
|
Average lead price received per tonne |
USD |
2,554 |
2,499 |
2,924 |
2,868 |
|
|
|
Year to 31 December 2024 |
Year to 31 December 2023 |
|
Ore mined |
Tonnes |
1,146,146 |
1,505,642 |
|
Ore processed |
Tonnes |
1,169,098 |
1,513,977 |
|
Zinc in concentrate produced |
Tonnes |
39,444 |
56,933 |
|
Gold in concentrate produced |
Ozs |
16,142 |
17,052 |
|
Silver in concentrate produced |
Ozs |
275,697 |
314,667 |
|
Lead in concentrate produced |
Tonnes |
1,295 |
1,546 |
|
Average zinc price received per tonne |
USD |
2,414 |
1,931 |
|
Average gold price received per oz |
USD |
2,228 |
1,952 |
|
Average silver price received per oz |
USD |
24.3 |
20.1 |
|
Average lead price received per tonne |
USD |
2,709 |
2,536 |
Overview
As published in previous market guidance information, the Company was on course over the first 9 months of 2024 to mine and process 1.5 million tonnes at the Caijiaying Mine in 2024. The unfortunate suspension in operations on the 11th October 2024 following the fatality of a mine contractor's employee halted all operations at the Caijiaying Mine until the 1st January 2025 and severely impacted operational results in the last quarter of 2024. All mine and milling operations have returned to normal in 2025.
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 griffinmining.com.
Further information
Griffin Mining Limited
Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Panmure Liberum Limited Telephone: +44 (0)20 7886 2500
James Sinclair-Ford
Douglas McLeod
Berenberg Telephone: +44(0)20 3207 7800
Matthew Armitt
Jennifer Lee
Deltir Elezi
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014