Griffin Mining Limited · LSE:GFM
Griffin Mining — Investor Presentation (January 2021)
22 slides from Griffin Mining's investor presentation, January 2021
Slide 1: Griffin Mining: Moving to the next level
GRIFFIN MINING Moving to the next level Corporate Presentation January 2021
Slide 2: Disclaimer
DISCLAIMER AIM:GFM This Presentation has been produced by Griffin Mining Ltd ( “Griffin”). This presentation is confidential and may not be reproduced or redistributed, in whole or in part, to any other person. This document contains certain forward-looking statements relating to the business, finan
Slide 3: An Introduction to Griffin Mining
AN INTRODUCTION TO GRIFFIN MINING AIM:GFM Moving to the next level… Polymetallic mining company primarily Milestone licence received that will trigger the producing zinc, but also gold, silver and lead at next stage of growth the Caijiaying Mine • Increase throughput up to 1.5Mtpa, • Griffin holds 8
Slide 4: Corporate Overview
CORPORATE OVERVIEW AIM:GFM 140p £243.76 million Significant Shareholders Share price* Market Cap* Adam Usdan 19.2% 172,826,228 194,993,727 Shares in Issue Shares fully diluted Controlling Group** 13.1% *as at 26/01/2021 **comprising of Blake Holdings Limited, Richard Griffiths and others Share Price
Slide 5: Sustainability
SUSTAINABILITY Integral to our activities at Caijiaying AIM:GFM • Continue to maintain and further implement best practices regarding the protection of the environment, while investing in the local community, positively impacting all stakeholders Caijiaying mine to be awarded national level Green Mi
Slide 6: The Caijiaying Mine
THE CAIJIAYING MINE AIM:GFM • Project acquired in 1997 and constructed, commissioned and operated by Griffin since June 2005 • 8.1 square kilometres of mining and exploration tenements, including the mine and processing facilities • Located approximately 250 kilometres by road, north-west of Beijing
Slide 7: Production at the Caijiaying Mine
PRODUCTION AT THE CAIJIAYING MINE AIM:GFM Q12020 Q22020 Q32020 Q42020 Ore mined tonnes 114,206 200,484 248,361 291,515 Ore processed tonnes 122,523 201,013 225,002 273,520 Zinc in concentrate produced tonnes 5,017 8,431 7,758 11,266 Lead in concentrate produced tonnes 176 455 400 397 Silver in conce
Slide 8: Production Expansion
PRODUCTION EXPANSION Mining licence approvals have triggered development programmes to enable throughput increase to 1.5 AIM:GFM Mtpa, delivering an 80% production increase in the next two years • Current mining operations are at Zone III • Awarding of the Zone II mining licence and the expansion of
Slide 9: Zone II & Zone III Development
ZONE II & ZONE III DEVELOPMENT Programmes underway to access additional ore for processing AIM:GFM • Development works have commenced in preparation of the Zone II mining licence • Completed the link between the north and south declines at the 1000mRL and the development of the South Haulage Drive a
Slide 10: Mineral Resources
MINERAL RESOURCES Large existing resource with significant increases to Zone II AIM:GFM Revised depleted measured, indicated and inferred mineral resource at Zones III: • 47.4 million tonnes @ 4.2% zinc, 0.2% lead, 21.4 g/t silver and 0.5 g/t gold at a 1% cut off • 2,009,000 tonnes contained zinc me
Slide 11: FY 2019 Performance Summary
FY 2019 PERFORMANCE SUMMARY AIM:GFM FY2019 Ore Processed FY2019 Zinc in Conc. FY2019 Gold in Conc. 930,613 tonnes 37,413 tonnes 17,768 tonnes FY2018: 930,613 tonnes FY2018: 37,112 tonnes FY2018: 16,230 tonnes FY2019 Revenue FY2019 Profit After Tax FY2019 Cash Position $82.3 million $6.1 million $16.
Slide 12: Dry Stacked Tailings
DRY STACKED TAILINGS AIM:GFM • Dry stacked tailings compared to conventional tailings has a stable structure and does not require a dam wall, and have a significantly smaller footprint • New paste fill plant was successfully commissioned in September 2019 • Tailings backfill through waste fill, hydr
Slide 13: Strong Metals Market
STRONG METALS MARKET Positive supply and demand dynamics driving AIM:GFM zinc & gold prices ZINC GOLD • Asia accounts for approximately 65% of global zinc • World Gold Council forecast investment demand to consumption remain well supported while gold consumption • Zinc price has rallied recently due
Slide 14: Entering the Next Level of Production
ENTERING THE NEXT LEVEL OF PRODUCTION Extensive growth strategy underway AIM:GFM SIGNIFICANT ORGANIC CASH GENERATIVE POSITIVE METAL GROWTH MARKETS • Development of Zone II and • Significant increase in cash • Positive supply and demand expansion at Zone III which position expected in 2021 dynamics d
Slide 15: Contacts
CONTACTS GRIFFIN MINING LIMITED Telephone: +44(0)20 7629 7772 Mladen Ninkov – Chairman Roger Goodwin - Finance Director PANMURE GORDON (UK) LIMITED Telephone: +44 (0)20 7886 2500 John Prior Joanna Langley BERENBERG Telephone: +44(0)20 3207 7800 Matthew Armitt Jennifer Wyllie Deltir Elezi BLYTHEWEIGH
Slide 16: Appendix
APPENDIX 16 Griffin Mining Corporate Presentation January 2021
Slide 17: Board of Directors
BOARD OF DIRECTORS Extensive experience in mining, emerging markets and corporate finance AIM:GFM Mladen Ninkov, Chairman, Australian, holds a Master of Law Degree from Trinity Hall, Cambridge and Bachelor of Laws (with Honours) and Bachelor of Jurisprudence Degree from the University of Western Aus
Slide 18: Caijiaying - History
CAIJIAYING - HISTORY Project acquired 1997 and constructed, commissioned and operated by Griffin since June 2005 AIM:GFM • Resource discovered by Hebei 3rd Geological Bureau in 1966/1967 • Initial 60% interest acquired by Griffin in 1997/98 (40% Ministry of Natural Resources and ZJK City Government)
Slide 19: Profit and Loss Account ($m)
Profit and Loss Account ($m) Average zinc price received 2018 $2,149 per tonne, 2019 $1,471 per tonne, 2020 $1,645 per tonne AIM:GFM Average gold price received 2018 $1,173 per oz, 2019 $1,320 per oz, 2020 $1,759 per oz Year to December 2018 2019 Revenue 99.1 82.3 Cost of Sales (excl D&A) 36.1 37.1
Slide 20: JORC Tables
JORC TABLES AIM:GFM *Global Resource combining Zone III with new Zone II Resource to be announced in the near future 20 Griffin Mining Corporate Presentation January 2021
Slide 21: JORC Tables
JORC TABLES AIM:GFM Mineral Resource estimate for Zone II as at 14th January 2021 *Global Resource combining Zone III with new Zone II Resource to be announced in the near future 21 Griffin Mining Corporate Presentation January 2021
Slide 22: Response to COVID-19
RESPONSE TO COVID-19 AIM:GFM • The safety of our employees is of the upmost importance • A number of procedures were put in order to protect employees including; • Entry restrictions to the Caijiaying Mine • Temperature and history screening • Decontamination of all possible surfaces • Extensive new
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