Griffin Mining Limited Announces Caijiaying Expansion & Commissioning of Processing Facilities
Nov 17 14
Griffin Mining Limited reported that commissioning of the significantly refurbished and upgraded processing facilities at the Caijiaying mine commenced this morning following the suspension of processing announced on 13th August 2014. The refurbished two 350,000 tonnes per annum primary ball mills, new and larger floatation cells and increased storage and handling facilities were commissioned using the crushed ore available. The new, three stage rushing circuit and back-up generators are expected to be commissioned on Wednesday 19th November with ore that has continued to be mined and stockpiled for the past 3 months. Name-plate throughput of 750,000+ tonnes per annum should be re-instated at this point. The upgrade to the main processing facilities is scheduled to be completed on December 15 upon the delivery and installation of the new, 800,000 tonnes per annum primary ball mill. It is hoped that demarcation issues between competing Chinese power suppliers for an enhanced power supply to the processing facilities will be resolved by that time. It is expected that throughput will reach 1.5 million tonnes per annum by the summer of 2015. The upgrade continues to fall within the capital amount budgeted, however, due to the 4 week delay in commissioning, annual production of zinc metal in concentrate for 2014 is expected to be lower than that achieved in 2013.
Griffin Mining Ltd Appoints Mark Hine as Chief Operating Officer
Oct 1 14
Griffin Mining Ltd. announced the appointment of Mr. Mark Hine as Chief Operating Officer of the company. Since the beginning of the year, he has been a consultant at Griffin's Caijiaying mine in China. He has held a number of senior positions in the mining industry including Chief Operating Officer at Focus Minerals Ltd, Chief Executive Officer at Golden West Resources Ltd, Executive General Manager Mining at Macmahon Contractors Pty Ltd, Chief Executive officer at Queensland Industrial Minerals Ltd, Chief Executive Officer at Consolidated Rutile Ltd. and General Manager Pasminco, Broken Hill /Elura Mines.
Griffin Mining Ltd. Reports Unaudited Consolidated Earnings and Production Results for the Six Months Ended June 30, 2014
Sep 3 14
Griffin Mining Ltd. reported unaudited consolidated earnings and production results for the six months ended June 30, 2014. For the six months, the company reported revenue of $33,226,000 against $33,651,000 for the same period last year. Profit from operations was $9,237,000 against $7,309,000 for the same period last year. Profit before tax was $7,359,000 against $5,759,000 for the same period last year. Profit after tax was $5,350,000 against $4,035,000 for the same period last year. Profit attributable to equity share owners for the parent was $3,749,000 or 2.09 cents per basic and diluted share against $3,451,000 or 1.95 cents per diluted share for the same period last year. Net cash inflow from operating activities was $10,863,000 against $13,242,000 for the same period last year. Payments to acquire - plant and equipment were $4,089,000 against $399,000 for the same period last year.
For the six months, the company reported throughput of 408,671 tonnes of ore in the six months at Griffin's Caijiaying Mine was in line with that achieved of 412,799 tonnes in the six months to June 30, 2013, resulting in metal in concentrate production of:19,147 tonnes of zinc compared to 19,077 tonnes a year ago; 609 tonnes of lead compared to 903 tonnes a year ago; 147,901 ounces of silver compared to 151,921 ounces a year ago; and 5,999 ounces of gold compared to 3,869 ounces a year ago. Metal in concentrate production in the six months compared to that in the six months to June 30, 2013 was impacted by lower lead and silver grades but better gold grades and recoveries. Zinc grades were marginally better with recoveries in line with previous years.