on Griffin Mining Ltd (LON:GFM)

Griffin Mining Limited Announces Record Quarterly Production

Griffin Mining Limited has reported record production figures for the second quarter of 2024, ending on June 30th. The Caijiaying Mine achieved notable increases in ore mined and processed, leading to record quarterly production of gold in concentrate.

In comparison to the second quarter of 2023, ore mined increased to 429,448 tonnes from 366,762 tonnes, and ore processed rose to 408,481 tonnes from 372,804 tonnes. The company produced 6,037 ounces of gold, an impressive 86.5% increase from the previous year's 3,237 ounces. Silver production also rose by 3.0% to 92,755 ounces.

Zinc and lead production showed mixed results. Zinc concentrate production increased by 4.6%, while lead dropped by 20.4%. Prices for zinc, gold, and silver saw significant increases, driving up value despite changes in production volumes.

The development work at Zone II of the Caijiaying Mine is on track for a 2025 operational start. This includes ongoing construction efforts to enhance underground access and ventilation systems.

R. P.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Griffin Mining Ltd news