First Quarter Production 2025
Q1 2025 zinc and gold production down significantly due to mine closure impact and Lunar New Year disruption.
- Ore mined 223,745 tonnes (prior 335,234 tonnes)
- Ore processed 241,344 tonnes (prior 327,529 tonnes)
- Zinc in concentrate produced 6,552 tonnes (prior 11,423 tonnes)
- Gold in concentrate produced 2,433 ozs (prior 5,270 ozs)
- Silver in concentrate produced 43,618 ozs (prior 72,026 ozs)
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Griffin Mining Limited ("Griffin" or the "Company") announces its production results from the Caijiaying Zinc-Gold Mine for the three months ended 31 March 2025.
| 3 months to 31 March 2025 | 3 months to 31 December 2024 | 3 months to 31 March 2024 | ||
|---|---|---|---|---|
| Ore mined | Tonnes | 223,745 | 43,918 | 335,234 |
| Ore processed | Tonnes | 241,344 | 36,310 | 327,529 |
| Zinc in concentrate produced | Tonnes | 6,552 | 1,399 | 11,423 |
| Gold in concentrate produced | Ozs | 2,433 | 731 | 5,270 |
| Silver in concentrate produced | Ozs | 43,618 | 15,640 | 72,026 |
| Lead in concentrate produced | Tonnes | 251 | 97 | 277 |
| Average zinc price received per tonne | USD | 2,278 | 2,663 | 2,091 |
| Average gold price received per oz | USD | 2,740 | 2,519 | 2,026 |
| Average silver price received per oz | USD | 26.9 | 26.8 | 20.1 |
| Average lead price received per tonne | USD | 2,634 | 2,554 | 2,868 |
Overview
The fatality of a Caijiaying mining contractor's employee in October 2024, which caused the suspension of operations at the Caijiaying Mine for most of the last quarter of 2024 before operations recommenced on 1 January 2025, not only impacted operational results in 2024, but had flow on effects into the first quarter of 2025, and in particular, January and February 2025. The total closure of all underground workings during the last quarter of 2024 prevented any underground access for drive and stope development leading to a lack of available ore for mining in the first quarter of 2025.
In addition, first quarter production at the Caijiaying Mine was impacted by the Chinese Lunar New Year and Spring Festival holidays causing disruption to operations by lack of certain administrative approvals due to government department shutdowns and the travel of staff and contractors to their home Provinces, towns and villages throughout the period. The slower activity period was utilized by scheduling mine and processing plant maintenance.
Since early March, there has been an increase in ore mined, ore processed and higher ore grades such that the Company expects ore mined and processed will be able to achieve the equivalent annualised rate of 1.5 million tonnes of ore per annum in the remainder of 2025.
Mladen Ninkov, Chairman, commented:
"The death of one of our mining contractor's employees was not only a tragic human event, but also a significant negative impact to our operations in late 2024 and into early 2025. We hope this is the last of the "black swan" events for the foreseeable future and that the Company can resume normal operations at its normalised throughput and production results. I still believe 2025 will be a watershed year for both the Company and the shareholders. We await what the year will bring."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.