TIDMHOC
RNS Number : 7789Q
Hochschild Mining PLC
23 October 2019
_____________________________________________________________________________________
23 October 2019
Production Report for the 9 months ended 30 September 2019
Ignacio Bustamante, Chief Executive Officer said:
"Hochschild has delivered another strong quarter of output
including robust contributions at all three of our mines and we
remain on track to meet our annual production and cost targets.
Commodity prices have been favourable in Q3 and combined with the
consistent operational delivery we have been able to reduce
leverage further and ended the quarter with net debt of $30m. We
have also seen encouraging brownfield results particularly at
Inmaculada where drilling has continued to upgrade the quality and
quantity of recent discoveries. We remain confident for the future
and are excited by the acquisition of the low-risk Biolantanidos
rare earth deposit in Chile which adds diversified optionality to
our portfolio although we will retain our core focus on precious
metals."
Operational highlights
-- Another strong quarter of attributable production([1])
o 67,797 ounces of gold
o 4.3 million ounces of silver
o 121,395 gold equivalent ounces
o 9.8 million silver equivalent ounces
-- Solid year-to-date operational performance
o 205,875 ounces of gold
o 13.0 million ounces of silver
o 366,721 gold equivalent ounces
o 29.7 million silver equivalent ounces
-- On track to deliver overall 2019 production target of 457,000
gold equivalent ounces (37.0 million silver equivalent ounces)
-- 2019 all-in sustaining costs on track to meet $960-$1,000 per
gold equivalent ounce guidance ($11.8-12.3 per silver equivalent
ounce)
Exploration highlights
-- Several new veins discovered to the west of Angela at
Inmaculada adding further resources
-- Inmaculada infill drilling increasing Millet vein resource
grade by 27%
-- Drilling ongoing at Palca zone
Strong financial position
-- Total cash of approximately $123 million as at 30 September
2019 ($95 million as at 30 June 2019)[2]
-- Net debt of approximately $30 million as at 30 September 2019
($61 million as at 30 June 2019)
-- Net Debt/LTM EBITDA of approximately 0.10x as at 30 September
2019
________________________________________________________________________________________
A conference call will be held at 2.30pm (London time) on
Wednesday 23 October 2019 for analysts and investors.
Dial in details as follows:
International Dial in: +44 333 300 0804
UK Toll-Free Number: 0800 358 9473
Pin: 69534171#
A recording of the conference call will be available for one
week following its conclusion, accessible from the following
telephone number:
International: +44 333 300 0819
UK Toll Free: 0800 358 2049
Pin: 301300042#
________________________________________________________________________________________
Overview
Hochschild's strong 2019 continued with third quarter
attributable production of 121,395 gold equivalent ounces or 9.8
million silver equivalent ounces. This was driven by solid delivery
from all of the Company's operating mines especially San Jose.
Overall year-to-date production is 366,721 gold equivalent ounces
or 29.7 million silver equivalent ounces, the second highest nine
month total in the Company's history. The Company is firmly on
track to meet its full year production forecast of 457,000 gold
equivalent ounces or 37.0 million silver equivalent ounces with the
2019 mine plan scheduling a relative reduction in production in the
fourth quarter.
The Company reiterates that its all-in sustaining cost for 2019
is on track to be in line with the guidance of $960-$1,000 per gold
equivalent ounce ($11.8-12.3 per silver equivalent ounce).
TOTAL GROUP PRODUCTION
Q3 2019 Q2 2019 Q3 2018 YTD 2019 YTD 2018
-------- -------- -------- ---------
Silver production
(koz) 5,284 5,166 5,794 15,521 16,929
Gold production
(koz) 81.37 84.18 74.20 243.53 234.67
Total silver equivalent
(koz) 11,876 11,984 11,804 35,247 35,937
Total gold equivalent
(koz) 146.61 147.95 145.73 435.15 443.67
Silver sold (koz) 5,179 5,189 5,845 15,400 16,912
Gold sold (koz) 79.79 84.05 74.27 240.04 232.29
------------------------- -------- -------- -------- --------- ---------
Total production includes 100% of all production, including
production attributable to Hochschild's joint venture partner at
San Jose.
ATTRIBUTABLE GROUP PRODUCTION
Q3 2019 Q2 2019 Q3 2018 YTD 2019 YTD 2018
-------- -------- -------- ---------
Silver production
(koz) 4,341 4,317 5,051 13,028 14,725
Gold production
(koz) 67.80 70.66 62.43 205.87 199.94
Silver equivalent
(koz) 9,833 10,041 10,108 29,704 30,920
Gold equivalent
(koz) 121.40 123.96 124.79 366.72 381.73
------------------- -------- -------- -------- --------- ---------
Attributable production includes 100% of all production from
Arcata, Inmaculada, Pallancata and 51% from San Jose.
Production
Inmaculada
Product Q3 2019 Q2 2019 Q3 2018 YTD 2019 YTD 2018
------------ ------------ ------------ -----------------
Ore production
(tonnes treated) 340,176 339,098 332,411 1,010,663 1,003,124
Average grade silver
(g/t) 157 170 138 157 148
Average grade gold
(g/t) 4.53 4.85 3.96 4.59 4.38
Silver produced
(koz) 1,437 1,503 1,320 4,388 4,435
Gold produced (koz) 46.76 49.75 40.13 145.36 136.46
Silver equivalent
(koz) 5,224 5,533 4,570 16,162 15,488
Gold equivalent
(koz) 64.50 74.77 56.42 199.53 191.21
Silver sold (koz) 1,435 1,500 1,317 4,376 4,425
Gold sold (koz) 46.94 49.41 39.77 144.43 135.12
---------------------- ------------ ------------ ------------ ----------------- -----------------
Inmaculada's third quarter production was 46,756 ounces of gold
and 1.4 million ounces of silver which amounts to a gold equivalent
output of 64,499 ounces. Grades moderated in Q3 in line with the
mine plan after a better than expected Q2 although tonnage remained
consistent. Year-to-date, Inmaculada's output is a record 199,532
gold equivalent ounces, a 4% improvement on the first 9 months of
2018 (Q3 YTD 2018: 191,206 gold equivalent ounces), driven by
better than expected grades in the first half of the year and a
contribution from products in process from Q4 2018.
Pallancata
Product Q3 2019 Q2 2019 Q3 2018 YTD 2019 YTD 2018
------------- ------------- ------------- ---------
Ore production
(tonnes treated) 237,474 240,705 201,009 709,768 486,577
Average grade silver
(g/t) 283 282 362 284 384
Average grade gold
(g/t) 1.04 1.01 1.29 1.02 1.39
Silver produced
(koz) 1,923 1,931 2,086 5,735 5,364
Gold produced (koz) 6.91 6.84 7.34 20.36 19.20
Silver equivalent
(koz) 2,483 2,485 2,680 7,384 6,919
Gold equivalent
(koz) 30.65 30.68 33.09 91.16 85.42
Silver sold (koz) 1,891 1,891 2,090 5,659 5,346
Gold sold (koz) 6.78 6.62 7.30 19.98 18.88
---------------------- ------------- ------------- ------------- --------- ---------
Pallancata produced 1.9 million ounces of silver and 6,912
ounces of gold bringing the silver equivalent total to 2.5 million
ounces in Q3 with tonnage and grades in line with the previous
quarter. Overall in the first nine months of the year, Pallancata
has delivered 7.4 million silver equivalent ounces (Q3 2018 YTD:
6.9 million ounces) with the improvement on the corresponding
period of 2018 reflecting production from the wider but lower grade
Pablo vein.
San Jose (the Company has a 51% interest in San Jose)
Product Q3 2019 Q2 2019 Q3 2018 YTD 2019 YTD 2018
------------ ------------ ------------ ---------
Ore production
(tonnes treated) 146,921 141,621 144,852 398,675 409,193
Average grade silver
(g/t) 456 436 376 450 396
Average grade gold
(g/t) 6.58 6.89 5.93 6.78 6.20
Silver produced
(koz) 1,925 1,731 1,517 5,087 4,499
Gold produced (koz) 27.70 27.59 24.02 76.84 70.88
Silver equivalent
(koz) 4,169 3,966 3,462 11,311 10.307
Gold equivalent
(koz) 51.46 48.96 42.74 139.64 127.25
Silver sold (koz) 1,852 1,785 1,573 5,041 4,527
Gold sold (koz) 26.08 28.18 24.66 74.97 70.66
---------------------- ------------ ------------ ------------ --------- ---------
The San Jose mine again delivered a good quarter with tonnage in
line with expectations and slightly better than forecast gold and
silver recoveries resulting in production of 1.9 million ounces of
silver and 27,704 ounces of gold which makes 4.2 million silver
equivalent ounces. This therefore amounts to a nine month total of
11.3 million silver equivalent ounces, ahead of the same period of
2018 (Q3 2018 YTD: 10.3 million ounces) due to better than expected
grades.
Arcata
Product Q3 2019 Q2 2019 Q3 2018 YTD 2019 YTD 2018
--------- --------- ------------- ---------
Ore production
(tonnes treated) - - 93,381 37,049 281,903
Average grade silver
(g/t) - - 327 298 326
Average grade gold
(g/t) - - 1.01 0.94 1.01
Silver produced
(koz) - - 872 311 2,632
Gold produced (koz) - - 2.72 0.97 8.14
Silver equivalent
(koz) - - 1,092 390 3,291
Gold equivalent
(koz) - - 13.48 4.81 40.63
Silver sold (koz) - - 866 323 2,614
Gold sold (koz) - - 2.55 0.66 7.63
---------------------- --------- --------- ------------- --------- ---------
The Arcata operation is currently on temporary care and
maintenance. Production in the first nine months of 2019 was the
same as Q1 at 0.5 million silver equivalent ounces.
Average realisable prices and sales
Average realisable precious metal prices in Q3 2019 (which are
reported before the deduction of commercial discounts) were
$1,510/ounce for gold and $18.4/ounce for silver (Q3 2018:
$1,187/ounce for gold and $13.7/ounce for silver). For the first
nine months of 2019, average realisable precious metal prices were
$1,389/ounce for gold and $16.2/ounce for silver (Q3 YTD 2018:
$1,270/ounce for gold and $15.3/ounce for silver).
Brownfield exploration
Inmaculada
In Q3 2019, 16,791m of further drilling was carried out focusing
on the Susana Beatriz, Facundo, Salvador, Noelia and Pilar
structures to the west of the Angela vein with the aim of
incorporating additional resources. Drilling has also identified
the north east extension of the Angela vein.
Vein Results (resource drilling)
Facundo HUA-19-002: 1.1m @ 3.7g/t Au & 78g/t Ag
HUA-19-002: 5.2m @ 5.1g/t Au & 88g/t Ag
------------------------------------------
Noelia HUA-19-005: 1.3m @ 2.7g/t Au & 109g/t Ag
ANE-19-020: 1.5m @ 16.8g/t Au & 1,843g/t
Ag
ANE-19-021: 1.1m @ 3.3g/t Au & 101g/t Ag
IMM-19-017: 1.0m @ 1.1g/t Au & 73g/t Ag
IMM-19-025: 1.9m @ 13.6g/t Au & 682g/t
Ag
HUA-19-005: 1.1m @ 12.2g/t Au & 300g/t
Ag
------------------------------------------
Pilar IMM-19-008: 1.5m @ 3.7g/t Au & 203g/t Ag
IMM-19-011: 3.1m @ 4.1g/t Au & 176g/t Ag
IMM-19-014: 5.8m @ 17.7g/t Au & 751g/t
Ag
IMM-19-015: 1.4m @ 5.4g/t Au & 254g/t Ag
IMM-19-016: 1.0m @ 4.9g/t Au & 52g/t Ag
IMM-19-020: 1.1m @ 23.1g/t Au & 268g/t
Ag
IMM-19-025: 1.6m @ 6.2g/t Au & 271g/t Ag
IMM-19-026: 1.8m @ 7.2g/t Au & 279g/t Ag
HUA-19-005: 1.3m @ 4.2g/t Au & 169g/t Ag
HUA-19-003: 1.4m @ 19.4g/t Au & 438g/t
Ag
IMM-19-017: 2.1m @ 4.2g/t Au & 253g/t Ag
------------------------------------------
Rosa ROS-19-001: 3.2m @ 3.5g/t Au & 43g/t Ag
ROS-19-002: 1.0m @ 2.5g/t Au & 122g/t Ag
------------------------------------------
Salvador ANE-19-020: 1.6m @ 3.0g/t Au & 370g/t Ag
ANE-19-021: 1.4m @ 7.1g/t Au & 318g/t Ag
ANE-19-022: 3.0m @ 2.0g/t Au & 165g/t Ag
IMM-19-025: 1.2m @ 5.0g/t Au & 261g/t Ag
HUA-19-005: 2.2m @ 7.7g/t Au & 335g/t Ag
ANE-19-025: 1.2m @ 2.8g/t Au & 133g/t Ag
------------------------------------------
Susana Beatriz ANE-19-020: 3.8m @ 4.3g/t Au & 340g/t Ag
ANE-19-021: 3.6m @ 3.1g/t Au & 142g/t Ag
ANE-19-022: 8.5m @ 3.6g/t Au & 188g/t Ag
ANE-19-023: 1.2m @ 3.3g/t Au & 372g/t Ag
ANE-19-025: 3.0m @ 5.6g/t Au & 386g/t Ag
HUA-19-005: 3.1m @ 8.6g/t Au & 333g/t Ag
IMM-19-011: 1.0m @ 13.0g/t Au & 553g/t
Ag
IMM-19-017: 0.9m @ 4.0g/t Au & 263g/t Ag
IMM-19-024: 1.0m @ 1.3g/t Au & 31g/t Ag
------------------------------------------
Angela Sur IMS-19-008: 1.2m @ 1.5g/t Au & 121g/t Ag
IMS-19-010: 1.5m @ 1.6g/t Au & 191g/t Ag
------------------------------------------
Angela extension ANE-19-029: 1.3m @ 266.5g/t Au & 1,783g/t
Ag
------------------------------------------
Results in Q3 from the ongoing programme at the Millet and
Divina structures (discovered in 2018) are detailed below. Infill
drilling across the entire known Millet vein has now increased the
resource grade by 27% from the December 2018 figure of 338 silver
equivalent grams per tonne to 429 grams per tonne. Total contained
ounces have also risen from 34 to 37 million silver equivalent
ounces whilst tonnage has reduced allowing for more efficient,
lower cost extraction. Vein width has decreased concentrating the
resource in an average of 5.4m.
For Q4, the Inmaculada drilling programme will include 4,500m of
resource drilling in the Facundo, Salvador, Susana Beatriz, Pilar
and Noelia structures as well as on the Angela extension. In
addition, a further 1,300m will be drilled as part of the infill
programme in the Divina vein and 15,000m in the Millet structure
with further updates expected at the end of the fourth quarter.
Vein Results (infill drilling)
Millet MIL-19-043: 12.5m @ 3.8g/t Au & 394g/t
Ag
MIL-19-044: 2.4m @ 6.5g/t Au & 720g/t Ag
MIL-19-045: 10.5m @ 7.8g/t Au & 622g/t
Ag
MIL-19-046: 14.0m @ 3.8g/t Au & 44g/t Ag
MIL-19-047: 12.5m @ 4.9g/t Au & 311g/t
Ag
MIL-19-048: 3.2m @ 9.8g/t Au & 374g/t Ag
MIL-19-049: 1.4m @ 4.0g/t Au & 188g/t Ag
------------------------------------------
Divina DIV-19-027: 6.8m @ 6.3g/t Au & 347g/t Ag
DIV-19-029: 0.8m @ 5.0g/t Au & 406g/t Ag
DIV-19-030: 8.4m @ 1.4g/t Au & 72g/t Ag
DIV-19-031: 3.4m @ 1.7g/t Au & 72g/t Ag
DIV-19-032: 4.2m @ 3.6g/t Au & 104g/t Ag
DIV-19-033: 1.0m @ 7.5g/t Au & 153g/t Ag
DIV-19-034: 7.4m @ 4.1g/t Au & 96g/t Ag
------------------------------------------
Pallancata
In Pallancata, 2,649m of potential resources were drilled using
horizontal long drill holes from underground towards the Pablo,
Marco and Alizze veins close to current operations with results
below:
Vein Results (potential drilling)
Ramal Mariana DLMA-A27: 0.7m @ 1.0g/t Au & 172g/t Ag
------------------------------------------
Marco DLMARC-A03: 0.8m @ 0.7g/t Au & 297g/t Ag
DLMARC-A05: 1.0m @ 0.7g/t Au & 245g/t Ag
DLMARC-A06: 1.2m @ 1.0g/t Au & 331g/t Ag
DLMARC-A07: 1.7m @ 1.0g/t Au & 381g/t Ag
DLMARC-A10: 1.1m @ 0.5g/t Au & 161g/t Ag
------------------------------------------
Pedro DLEP-A43: 0.7m @ 1.4g/t Au & 283g/t Ag
DLEP-A44: 1.2m @ 1.7g/t Au & 485g/t Ag
------------------------------------------
Ramal Pablo DLEP-A43: 3.7m @ 1.9g/t Au & 111g/t Ag
------------------------------------------
During Q4, the programme will focus on the extension of the
Marco structure with 8,500m of drilling to look for potential and
also to incorporate inferred resources. A Titan geophysical
programme is also set to commence in Q4 to define targets for the
2020 programme.
Drilling permits for planned programmes at Pablo Sur and
Cochaloma have been made subject to prior consultation with local
communities and therefore the campaigns are now expected to
commence in the first quarter of 2020.
Palca
In Q3, potential resource drilling continued at the Palca zone,
with 6,874m of drilling in the Roxana, Santa Beatriz, Prometida,
Alejandra, Escondida and Kimberly structures testing continuity to
a depth of 300m. Key results were:
Vein Results (potential drilling)
Escondida PLC-195-025: 1.9m @ 4.7g/t Au & 33g/t Ag
PLC-195-027: 2.8m @ 7.7g/t Au & 72g/t Ag
PLC-195-033 1.7m @ 2.5g/t Au & 202g/t Ag
------------------------------------------
Prometida South PLC-195-006 4.1m @ 3.7g/t Au & 26g/t Ag
PLC-195-031 3.7m @ 1.3g/t Au & 13g/t Ag
------------------------------------------
The brownfield team is continuing with efforts to interpret the
geology of the Palca zone including the optimum levels of
mineralisation and the orientation of the vein structures. The next
drilling campaign is scheduled for the first quarter of 2020.
San Jose
In Q3, just over 5,000m of potential and inferred resource
drilling was carried out with the majority concentrating on an area
including the Kospi, Kospi South East, Ramal Huevos Verdes and the
new Milagro structures. The team has also started executing an
1,800m long drill hole to the west of Huevos Verdes. The remainder
of exploration work was at Aguas Vivas.
Vein Results (potential drilling)
Roma SJD-1963: 1.0m @ 2.0g/t Au & 228g/t Ag
-----------------------------------------
Kospi SE SJD-1980: 0.9m @ 7.1g/t Au & 467g/t Ag
-----------------------------------------
Kospi SE 02 SJD-1980: 0.5m @ 46g/t Au & 11,416g/t Ag
-----------------------------------------
Kospi SJM-432: 2.5m @ 4.8g/t Au & 502g/t Ag
-----------------------------------------
RHVN K SJM-433: 2.0m @ 3.3g/t Au & 155g/t Ag
-----------------------------------------
RHVN D SJM-433: 1.1m @ 30.4g/t Au & 1,991g/t Ag
-----------------------------------------
RMLHVND SJM-434: 1.0m @ 2.7g/t Au & 266g/t Ag
-----------------------------------------
Milagro SJD-2001: 1.0m @ 6.3g/t Au & 355g/t Ag
-----------------------------------------
During Q4, the programme will focus on extensions to San Jose
structures including the Tonio target from Goldspot technology, the
extension of Cerro Negro structures (Telken) into the San Jose
property to the south and further work on Aguas Vivas.
Corina
At Corina, drilling in Q3 has confirmed promising mineralisation
within two sub-parallel structures, Corina and Micky. Drill results
are included below and do not necessarily represent true
widths.
Drillhole From (m) To (m) Width (m) g/t Au g/t Ag
COR19001 201.55 204.75 3.20 1.13 24.00
--------- ------- ---------- ------- -------
including 203.40 204.75 1.35 1.80 31.00
--------- ------- ---------- ------- -------
COR19001 218.80 228.20 9.40 0.43 7.11
--------- ------- ---------- ------- -------
COR19002 253.15 254.45 1.30 0.43 4.40
--------- ------- ---------- ------- -------
COR19002 330.20 348.50 18.30 0.26 1.35
--------- ------- ---------- ------- -------
COR19003 142.85 146.85 4.00 0.28 1.57
--------- ------- ---------- ------- -------
219.80 221.00 1.20 0.46 67.40
--------- ------- ---------- ------- -------
COR19004 152.00 156.85 4.85 0.07 0.78
--------- ------- ---------- ------- -------
265.00 266.35 1.35 0.61 9.00
--------- ------- ---------- ------- -------
COR19005 91.10 94.60 3.50 8.97 32.00
--------- ------- ---------- ------- -------
including 92.10 93.65 1.55 15.90 47.00
--------- ------- ---------- ------- -------
COR19005 117.90 122.90 5.00 0.60 4.99
--------- ------- ---------- ------- -------
COR19005 160.80 162.80 2.00 1.18 2.90
--------- ------- ---------- ------- -------
COR19006 209.60 211.10 1.50 1.71 7.65
--------- ------- ---------- ------- -------
including 210.70 211.10 0.40 2.89 7.90
--------- ------- ---------- ------- -------
COR19006 284.85 287.10 2.25 0.27 0.87
--------- ------- ---------- ------- -------
COR19007 126.40 142.10 15.70 4.56 53.69
--------- ------- ---------- ------- -------
including 132.30 135.00 2.70 15.94 207.20
--------- ------- ---------- ------- -------
and 132.30 133.70 1.40 19.55 290.00
--------- ------- ---------- ------- -------
COR19007 184.60 189.20 4.60 1.10 27.64
--------- ------- ---------- ------- -------
COR19007 200.75 201.75 1.00 1.32 14.50
--------- ------- ---------- ------- -------
COR19008 209.40 211.00 1.60 0.52 2.05
--------- ------- ---------- ------- -------
COR19008 220.80 223.00 2.20 3.20 25.66
--------- ------- ---------- ------- -------
including 220.80 221.80 1.00 5.73 51.00
--------- ------- ---------- ------- -------
COR19009 144.80 149.00 4.20 0.82 6.71
--------- ------- ---------- ------- -------
COR19009 152.50 157.60 5.10 1.05 14.19
--------- ------- ---------- ------- -------
including 156.50 157.00 0.50 2.63 53.70
--------- ------- ---------- ------- -------
COR19009 160.40 165.40 5.00 1.08 6.98
--------- ------- ---------- ------- -------
including 164.50 165.40 0.90 1.86 2.40
--------- ------- ---------- ------- -------
COR19010 189.10 202.60 13.50 6.15 31.10
--------- ------- ---------- ------- -------
including 195.10 198.10 3.00 16.08 82.60
--------- ------- ---------- ------- -------
COR19010 206.90 210.60 3.70 7.66 17.66
--------- ------- ---------- ------- -------
including 207.90 208.90 1.00 17.35 126.00
--------- ------- ---------- ------- -------
COR19010 222.65 230.30 7.65 4.08 37.39
--------- ------- ---------- ------- -------
including 222.65 228.40 5.75 4.95 45.85
--------- ------- ---------- ------- -------
including 224.45 224.95 0.50 8.14 77.60
--------- ------- ---------- ------- -------
Financial position
Total cash was approximately $123 million as at 30 September
2019 resulting in net debt of approximately $30 million.
On 1 July 2019, the Group signed two short term loans of $50
million each with Scotiabank Peru, with an interest rate of 2.00%.
The proceeds were used to repay the two loans of $50 million each
with the same institution. In addition, also on 1 July 2019, the
Company signed a short term loan of $50 million with Banco de
Credito del Peru with an annual interest rate of 2.06% with the
proceeds employed to repay the loan of $50 million with BBVA
Bank.
On 2 October 2019, the Company announced that it was acquiring
93.8% of the Biolantanidos rare earth deposit in Chile that it did
not already own for a consideration of $56.3 million, which was
financed from existing cash resources.
____________________________________________________________________________________
Enquiries:
Hochschild Mining PLC
Charles Gordon +44 (0)20 3709 3264
Head of Investor Relations
Hudson Sandler
Charlie Jack +44 (0)207 796 4133
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 fifty years' experience in the
mining of precious metal epithermal vein deposits and currently
operates three underground epithermal vein mines, two located in
southern Peru and one in southern Argentina. Hochschild also has
numerous long-term projects throughout the Americas.
_____________________________________________________________________________________
Forward looking statements
This announcement may contain forward looking statements. By
their nature, forward looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that will or may occur in the future. Actual results,
performance or achievements of Hochschild Mining PLC may, for
various reasons, be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements.
The forward looking statements reflect knowledge and information
available at the date of preparation of this announcement. Except
as required by the Listing Rules and applicable law, the Board of
Hochschild Mining PLC does not undertake any obligation to update
or change any forward looking statements to reflect events
occurring after the date of this announcement. Nothing in this
announcement should be construed as a profit forecast.
This announcement contains information which prior to its
release could be considered inside information.
LEI: 549300JK10TVQ3CCJQ89
- ends -
[1]All equivalent figures assume a gold/silver ratio of 81x
[2]The cash position is disclosed prior to payment in early
October 2019 of $56.3 million for the previously announced
acquisition of 93.8% of the Biolantanidos rare earth deposit in
Chile
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLBCBDGUXDBGCD
(END) Dow Jones Newswires
October 23, 2019 02:00 ET (06:00 GMT)
Hochschild Mining (LSE:HOC)
Historical Stock Chart
From May 2024 to Jun 2024
Hochschild Mining (LSE:HOC)
Historical Stock Chart
From Jun 2023 to Jun 2024
