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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (6759)	9/17/2007 11:01:03 PM
From: LoneClone	Read Replies (1) \| Respond to of 193686

Griffin Mining profits double Mon 17 Sep 2007 sharecast.com LONDON (SHARECAST) - Griffin Mining doubled first half pre-tax profit as revenues surged due to increased production and zinc concentrate prices. Pre-tax profit for the period rose to $18m from $9m previously, while turnover came at $26m from $15m before. Total ore processed rose to 202,840 tonnes from 129,939 tonnes before. The group said despite the reduction in grade, following the decision in late 2006 to lower the cut off grade and increase the resource base, zinc metal produced in the six months to June rose to 10,983 tonnes compared with 8,630 in the same period last year. Griffin said it is pursuing a number of acquisition and other mining opportunities in China and therefore will not pay an interim dividend. It however expects to pay a final dividend. “These results, for the first six months of 2007, represent an excellent result for shareholders and continues to reflect the continuing growth in the company's operations at Caijiaying,” said chairman Mladen Ninkov.