Purchase additional WTM stake
November 06 2009 - 1:31PM
UK Regulatory
TIDMHOC
RNS Number : 1602C
Hochschild Mining PLC
06 November 2009
________________________________________________________________________
6 November 2009
Hochschild purchases an additional 4.2% of West Timmins Mining
Hochschild Mining plc ("Hochschild") has acquired a total of 26.1 million common
shares in West Timmins Mining Inc. ("WTM") for a total cash consideration of
C$61.6 million or a weighted average price of C$2.36 per common share through
several market transactions.
Today, Hochschild triggered a disclosure requirement in accordance with Canadian
regulations following its purchase of 6.2 million common shares in WTM for a
total cash consideration of C$17.6 million (or C$2.85 per common share). As a
result, Hochschild now owns 18.3% of WTM.
Hochschild has acquired ownership and control over WTM's common shares for
investment purposes, and to acquire additional shares of Lake Shore Gold Corp.
following the business combination between Lake Shore Gold and WTM. Hochschild
may acquire ownership of and control over, further common shares in WTM.
Enquiries:
Hochschild Mining plc
Isabel Lütgendorf +44 (0)20 7907 2934
Head of Investor Relations
Finsbury
Robin Walker +44 (0)20 7251 3801
Public Relations
About Hochschild Mining plc:
Hochschild Mining plc is a leading precious metals company listed on the London
Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration,
mining, processing and sale of silver and gold. Hochschild has over forty years'
experience in the mining of precious metal epithermal vein deposits and
currently operates four underground epithermal vein mines, three located in
southern Peru, one in southern Argentina and one open pit mine in northern
Mexico. Hochschild also has numerous long-term prospects throughout the
Americas.
About West Timmins Mining Inc:
WTM is focussed on the exploration and development of district-scale gold
projects in the major gold camps of North America. West Timmins Mining is based
in Vancouver, British Columbia, Canada and trades on the Toronto Stock Exchange
under the symbol WTM.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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