Trading Statement
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RECORD SECOND QUARTER THROUGHPUT & GOLD PRODUCTION
10th July 2024
Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce record quarterly production results for the three months to the 30th June 2024.
| 3 months to 30 th June 2024 | 3 months to 31 st March 2024 | 3 months to 30 th June 2023 | ||
|---|---|---|---|---|
| Ore mined | Tonnes | 429,448 | 335,234 | 366,762 |
| Ore processed | Tonnes | 408,481 | 327,529 | 372,804 |
| Zinc in concentrate Produced | Tonnes | 14,779 | 11,423 | 14,130 |
| Gold in concentrate produced | Ozs | 6,037 | 5,270 | 3,237 |
| Silver in concentrate produced | Ozs | 92,755 | 72,026 | 82,829 |
| Lead in concentrate produced | Tonnes | 454 | 277 | 468 |
| Average zinc price received per tonne | USD | 2,525 | 2,091 | 1,916 |
| Average gold price received per oz | USD | 2,293 | 2,026 | 1,841 |
| Average silver price received per oz | USD | 25.7 | 20.1 | 18.9 |
| Average lead price received per tonne | USD | 2,924 | 2,868 | 2,276 |
Overview
Record amounts of ore were mined and processed at the Caijiaying Mine in the quarter ended 30th June 2024 with throughput increasing 9.5% from that achieved in the second quarter of 2023, producing record quarterly production of gold in concentrate enabling Griffin to enjoy record gold prices.
- Zinc metal concentrate production was up 649 tonnes (4.6%) on that achieved in the second quarter 2023;
- Gold in concentrate production was up 2,800 ozs (86.5%) on that achieved in in the second quarter 2023;
- Silver in concentrate production was up 9,926 ozs (3.0%) on that achieved in in the second quarter 2023; and
- Lead in concentrate production was down 14 tonnes (20.4%) on that achieved in in the second quarter 2023.
The Caijiaying Mine remains on target to mine and process circa 1.5 million tonnes of ore per annum.
Good progress is being made to bring Zone II at the Caijiaying Mine into production in 2025 with ongoing development work to access and operate Zone II with continuing construction of underground drives, a new Third Portal and decline and construction of the new South Ventilation Shaft .
Chairman Mladen Ninkov commented,
"Yet another superb result. What more needs to be said?"
Change of Name of Nominated Adviser
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