Griffin Mining Limited Reports Mixed First Quarter Production Results for 2024

Griffin Mining Limited disclosed its production figures from the Caijiaying Zinc-Gold Mine for the first quarter ending March 31, 2024, with varied results across different metals. The operations experienced disruptions due to the Chinese Lunar New Year and Spring Festival holidays, impacting production metrics when compared with both the preceding quarter and the same quarter in 2023.

While gold, silver, and lead production saw improvements, zinc concentrate production dropped significantly. The company mined 335,234 tonnes of ore, a decrease from the 355,742 tonnes in the first quarter of 2023. Despite this, gold in concentrate production increased by 11.1%, silver by 4.7%, and lead by 20.4%, demonstrating stronger precious metals grades. However, zinc concentrate saw an 18.2% decrease in production. The average prices received for zinc, gold, silver, and lead concentrates have generally improved, potentially offsetting lower zinc production volumes.

Chairman Mladen Ninkov attributed the subdued production to extended holiday disruptions and reiterated the company's target to process approximately 1.5 million tonnes of ore in 2024. He also expressed optimism for the year ahead with ongoing developments and rising world prices for zinc and gold.