08/01/2007
Griffin Mining says underground drilling results have produced significant reserve increases at its Caijiaying mine in China.
AIM-quoted Griffin, chaired by Australian financier Mladen Ninkov, says measured, indicated and inferred reserves at Caijiaying are now put at 1.6 million ounces of gold, 53.7 million ounces of silver and 2.9 million tonnes of zinc. The company, which turned a £500,000 loss into a £4.5 million pre-tax profit in the first half of last year, says it now intends production at Caijiaying to reach 750,000 tonnes of ore by 2008.
Floated ten years ago at 25p, Griffin shares had fallen to 4.25p in 2002, when Growth Company Investor suggested them as a speculation. In 2004, RAB Capital came in for a while at 14p and the price now stands at 109.25p, up 3.25p today and valuing the company at £203 million.
Some profit-taking could be prudent. But there might be more action yet.
Related Articles:
|
| 20/10/2008
|
| 03/10/2008
|
| 18/07/2008
|
| 14/05/2008
|
| 13/05/2008
|
People who read this article also read ...
|
| 08/01/2007
|
| 18/12/2006
|
| 20/11/2006
|
| 10/10/2006
|
| 22/12/2005
|
| AIM | £30.87m |
17.00p
|
0.25p
|
|
| Other company articles: |
| 29/04/2008 |
| 28/04/2008 |
| 22/04/2008 |
| 14/12/2007 |
| 07/09/2007 |
Find Company Formation - British Websearch.com
Let British Web Search do the hard work. Our British only search directory will find the best company formation wesites for you. The top websites listed in one place for your convenience.
Company Formations
Looking for Company Formations? Click here to shop and compare online.
Looking for Low Cost Company Formation Services?
Choose from a variety of the UK's favourite company formation specialists. Great deals, low rates and all the latest offers.
