Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Griffin Mining soars after announcing record production

Published 17/04/2023, 08:55
© Reuters.  Griffin Mining soars after announcing record production

Proactive Investors - Griffin Mining rose 10% on Monday morning after announcing record first-quarter production since the commissioning of its Chinese Caijiaying Mine in 2005.

The AIM-listed firm mined 355,742 tonnes of ore in the three months to March 2023, up from just 17,975 tonnes in the same period last year, setting it on course to produce around 1.5mln tonnes this year.

“Production output was unimpeded [by] Chinese New Year holidays,” the company said in a statement, with ramped-up processing rates expected to bring “financial returns”.

Chairman Mladen Ninkov dubbed the figures “extraordinary”, adding he looked forward to “an event free 2023” now the Caijiaying Mine has shown “what it can achieve”.

Shares climbed 10% to 81.88p.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.