Griffin Mining (GFM.L) has ended 2022 on a strong note. After several production issues (Lunar New Year and the Winter Olympics and Paralympics in Q1 2022, and the ban of the usage of explosives during the Communist Party Congress for a large part of the fourth quarter), the company ended the year with a total of 831,000 tonnes of processed rock, which is a 15% decrease compared to 2021.
This also means the output decreased. The zinc production decreased to just under 70 million pounds (this is not the payable production, but the total amount of zinc that was recovered during the year) while the gold production came in at just over 10,000 ounces.
Griffin expects to do better this year: it aims to process 1.5 million tonnes of rock which would be an 80% increase compared to 2022.
Disclosure: The author has no position in Griffin Mining. Please read our disclaimer.
