CAPITAL MARKETS

Zinc boost for Griffin

Zinc's strength helps lift Griffin Mining

Staff reporter
Underground haulage at Griffin’s Caijiaying mine

Underground haulage at Griffin’s Caijiaying mine

The zinc price is holding near a 10-year high, at US$3,352 per tonne on the spot market, amid concerns over supply as China embarks on an environmental crackdown.

Griffin's Chinese zinc production has increased and in August the company unveiled a US$22.1 million pre-tax profit for the half-year to July compared with a $4.1 million loss for the previous corresponding period.

The company has had little news since, other than non-executive director Dal Brynelsen twice increasing his shareholdings, by 25,000 and 15,000 shares respectively, at 62p per share.

Shares in the company have risen from 63p last Monday to close yesterday at 79p.

Botswana Diamonds' (LN:BOD) share price has also strengthened following the company's "excellent progress" announced last week for its Thorny River project in South Africa.

The company expects to release an inferred mineral resource by year-end for the project, previously known as Zebediela, and was set to start bulk sampling, aiming to take total diamond recovery on site up to 500 carats.

Brazil fertiliser development company Harvest Minerals was also on the list as an executive director stepped down and the company said it anticipated first sales at the end of this year.

Meanwhile, the gold price has been boosted by ongoing tensions between the US and North Korea with the precious metal price moving close to $1,288/oz on the spot market earlier today.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

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