Griffin Mining Reports Resilient 2024 Results Amid Operational Challenges

An update from Griffin Mining ( (GB:GFM) ) is now available.

Griffin Mining Limited reported its 2024 financial results, highlighting a challenging year due to a three-month suspension of operations following a fatal accident at the Caijiaying Mine. Despite this setback, the company achieved revenues of $135.1 million and maintained profitability with a net profit of $11.4 million. The suspension impacted production volumes, leading to a decrease in ore mined and processed compared to 2023. However, the company benefited from higher metal prices, particularly for zinc and gold. The resumption of development work in Zone II and ongoing exploration for high-grade gold deposits are expected to enhance future production capabilities. Griffin’s share buy-back program continued, aiming to improve earnings per share, and the company remains debt-free with significant cash reserves.

The most recent analyst rating on (GB:GFM) stock is a Buy with a £190.00 price target. To see the full list of analyst forecasts on Griffin Mining stock, see the GB:GFM Stock Forecast page.

More about Griffin Mining

Griffin Mining Limited operates in the mining industry, focusing primarily on the extraction and processing of zinc, gold, silver, and lead. The company is known for its operations at the Caijiaying Mine in China, which is a significant contributor to its production and financial results.

Average Trading Volume: 65,127

Technical Sentiment Signal: Buy

Current Market Cap: £300.4M

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