StockMarketWire.com - Griffin Mining swung into the black in the six months to the end of June as revenues rose to $$52.3m - up from $20.8m last time.

The group posted an operating profit of $23.5m against a loss of $1.8m a year ago and a pre-tax profit of $22.1m (2016: loss $4.1m).

Chairman Mladen Ninkov commented, "I am sure shareholders, in conjunction with management, derive enormous satisfaction from the outstanding results for the first half of the 2017 financial year.

"The result was due to a superb operational effort by all concerned with the Caijiaying mine which led to increased throughput and higher zinc grades in conjunction with the long awaited increase in the zinc price and lower smelter charges.

"Needless to say, we fully expect, all things being equal, an equally as impressive second half of the year.

"Most importantly, the priority of the Company remains the granting of the new mining licence over zone II at the Caijiaying mine which will only multiply the results achieved to date.

"I sincerely hope that day will arrive in the not too distant future."


At 8:01am: [LON:GFM] Griffin Mining share price was +7p at 73p



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