TIDMHOC
RNS Number : 8048Z
Hochschild Mining PLC
15 January 2020
_____________________________________________________________________________________
15 January 2020
Production Report for the 12 months ended 31 December 2019
Ignacio Bustamante, Chief Executive Officer said:
"I am pleased to report that we have delivered a stronger than
forecast final quarter. Consequently, the overall 2019 production
figure of 38.7 million silver equivalent ounces is comfortably
ahead of the 37.0 million ounce target and includes record
contributions from our Inmaculada and San Jose mines. Furthermore,
our costs for 2019 are expected to be in line with guidance. We
have also substantially improved our financial position with strong
free cashflow generation and the refinancing of our short-term debt
with a new low cost $200 million loan.
At Inmaculada, we have continued to deliver exciting drill
results that are further adding to the resource base. In addition,
our 2020 brownfield drilling programme is set for an early start in
Peru with the welcome news that we have secured permits to drill at
the exciting Pablo Sur and Cochaloma targets close to Pallancata.
We will provide updates on progress at these and other campaigns as
our exploration programme advances."
Operational highlights
-- Strong full year attributable production in 2019(1)
o 269,892 ounces of gold
o 16.8 million ounces of silver
o 477,400 gold equivalent ounces
o 38.7 million silver equivalent ounces (versus target of 37.0
million silver equivalent ounces)
-- Record production at Inmaculada: 260,126 gold equivalent
ounces (2018: 244,445 ounces)
-- Record production at San Jose up 10% to 15.4 million silver
equivalent ounces (2018: 14.0 million ounces)
-- All-in sustaining costs on track to meet guidance of
$960-$1,000 per gold equivalent ounce ($11.8-12.3 per silver
equivalent ounce) in 2019(2)
Exploration highlights
-- Further substantial high grade resources discovered at
Inmaculada
-- Permits received for key Pablo Sur & Cochaloma
exploration targets close to Pallancata with drilling campaigns set
to commence in Q1 2020
Strong financial position
-- Total cash of approximately $166 million as at 31 December
2019 ($80 million as at 31 December 2018)
-- Refinancing of existing $150 million of short term debt with
$200 million 5 year loan at LIBOR +1.15%
-- Net debt of approximately $34 million as at 31 December 2019
($77 million as at 31 December 2018)
-- Current Net Debt/ LTM EBITDA of approximately 0.10x as at 31
December 2019
2020 guidance(1)
-- Production target of 422,000 gold equivalent ounces (36.0
million silver equivalent ounces)
-- All-in sustaining costs expected to be $1,040-$1,080 per gold
equivalent ounce ($12.1-12.5 per silver equivalent ounce)(2)
-- Total sustaining and development capital expenditure expected
to be approximately $115-130 million including $22 million
expansion of tailings storage facility at Inmaculada
-- 2020 brownfield exploration budget expected to be $36 million
with greenfield and advanced project budget set at an additional $8
million
________________________________________________________________________________________
A conference call will be held at 2.00pm (London time) on
Wednesday 15 January 2020 for analysts and investors.
Dial in details as follows:
International Dial in: +44 333 300 0804
UK Toll-Free Number: 0800 358 9473
Pin: 89367617#
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: 301308050#
________________________________________________________________________________________
Note: 2019 equivalent figures calculated using the previous
Company gold/silver ratio of 81x. All 2020 forecasts assume the
average gold/silver ratio for 2019 of 86x.
Overview
Hochschild delivered a solid quarter of attributable production
with 110,679 gold equivalent ounces or 9.0 million silver
equivalent ounces principally due to a better than expected
performance from the Inmaculada mine. Overall 2019 attributable
production was 38.7 million silver equivalent ounces (477,400 gold
equivalent ounces), which was due to record years at Inmaculada and
San Jose mostly offsetting the decision to place the Arcata mine on
care and maintenance in early 2019.
The Company reiterates that its all-in sustaining cost per
silver equivalent ounce for 2019 is expected 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
Q4 2019 Q3 2019 Q4 2018 12 mths 12 mths
2019 2018
-------- -------- -------- --------
Silver production
(koz) 4,641 5,284 5,791 20,163 22,720
Gold production
(koz) 78.05 81.37 73.10 321.58 307.77
Total silver equivalent
(koz) 10,963 11,876 11,712 46,210 47,650
Total gold equivalent
(koz) 135.35 146.61 144.60 570.50 588.27
Silver sold (koz) 4,662 5,179 5,775 20,062 22,687
Gold sold (koz) 77.48 79.79 72.22 317.52 304.51
------------------------- -------- -------- -------- -------- --------
Total production includes 100% of all production, including
production attributable to Hochschild's joint venture partner at
San Jose.
ATTRIBUTABLE GROUP PRODUCTION
Q4 2019 Q3 2019 Q4 2018 12 mths 12 mths
2019 2018
-------- -------- -------- --------
Silver production
(koz) 3,780 4,341 4,975 16,808 19,700
Gold production
(koz) 64.02 67.80 60.50 269.89 260.44
Silver equivalent
(koz) 8,965 9,833 9,875 38,669 40,795
Gold equivalent
(koz) 110.68 121.40 121.92 477.40 503.64
------------------- -------- -------- -------- -------- --------
Attributable production includes 100% of all production from
Arcata, Inmaculada, Pallancata and 51% from San Jose.
Production
Inmaculada
Product Q4 2019 Q3 2019 Q4 2018 12 mths 12 mths
2019 2018
-------- -------- -------- ----------
Ore production (tonnes
treated) 327,906 340,176 320,400 1,338,569 1,323,525
Average grade silver
(g/t) 179 157 157 163 150
Average grade gold
(g/t) 5.09 4.53 4.32 4.71 4.36
Silver produced
(koz) 1,359 1,437 1,255 5,747 5,690
Gold produced (koz) 43.82 46.76 37.74 189.18 174.20
Silver equivalent
(koz) 4,908 5,224 4,312 21,070 19,800
Gold equivalent
(koz) 60.59 64.50 53.24 260.13 244.45
Silver sold (koz) 1,356 1,435 1,251 5,732 5,676
Gold sold (koz) 44.16 46.94 37.27 188.59 172.40
------------------------ -------- -------- -------- ---------- ----------
Inmaculada's fourth quarter production was 43,816 ounces of gold
and 1.4 million ounces of silver, which amounts to gold equivalent
production of 60,594 ounces with extracted grades being better than
expected. Overall in 2019, Inmaculada has delivered record gold
equivalent production of 260,126 ounces, a 6% improvement on 2018
(2018: 244,445 ounces) with the key factors being better than
forecast extracted grades, steady tonnage and a contribution from
products in process from Q4 2018
Pallancata
Product Q4 2019 Q3 2019 Q4 2018 12 mths 12 mths
2019 2018
-------- -------- -------- --------
Ore production (tonnes
treated) 206,109 237,474 231,075 915,877 717,652
Average grade silver
(g/t) 258 283 317 278 362
Average grade gold
(g/t) 0.98 1.04 1.10 1.01 1.30
Silver produced
(koz) 1,524 1,923 2,086 7,259 7,449
Gold produced (koz) 5.60 6.91 7.20 25.95 26.40
Silver equivalent
(koz) 1,977 2,483 2,669 9,361 9,588
Gold equivalent
(koz) 24.41 30.65 32.95 115.57 118.37
Silver sold (koz) 1,502 1,891 2,093 7,161 7,439
Gold sold (koz) 5.47 6.78 7.35 25.45 26.23
------------------------ -------- -------- -------- -------- --------
In Q4 2019, Pallancata produced 1.5 million ounces of silver and
5,597 ounces of gold bringing the silver equivalent total to 2.0
million ounces. The full year result was therefore 9.4 million
silver equivalent ounces, broadly in line with the 2018 result
(2018: 9.6 million ounces) and reflecting a full year of production
from wider (and therefore higher tonnage) but lower grade
veins.
San Jose (the Company has a 51% interest in San Jose)
Product Q4 2019 Q3 2019 Q4 2018 12 mths 12 mths
2019 2018
-------- -------- -------- --------
Ore production (tonnes
treated) 145,490 146,921 146,992 544,165 556,185
Average grade silver
(g/t) 426 456 401 443 397
Average grade gold
(g/t) 6.89 6.58 6.19 6.81 6.20
Silver produced
(koz) 1,759 1,925 1,666 6,846 6,165
Gold produced (koz) 28.64 27.70 25.72 105.48 96.59
Silver equivalent
(koz) 4,078 4,169 3,749 15,390 13,989
Gold equivalent
(koz) 50.35 51.46 46.29 190.00 172.70
Silver sold (koz) 1,804 1,852 1,647 6,846 6,175
Gold sold (koz) 27.85 26.08 25.29 102.82 95.95
------------------------ -------- -------- -------- -------- --------
The San Jose operation, in southern Argentina, delivered a
robust final quarter with grades and tonnage in line with
expectations resulting in production of 1.8 million ounces of
silver and 28,637 ounces of gold (4.1 million silver equivalent
ounces). This brought the overall total for 2019 to a record 15.4
million silver equivalent ounces (2018: 14.0 million ounces), an
impressive 10% increase versus 2018 mostly due to better than
expected grades.
Arcata
Product Q4 2019 Q3 2019 Q4 2018 12 mths 12 mths
2019 2018
--------- --------- -------- --------
Ore production (tonnes
treated) - - 91,203 37,049 373,106
Average grade silver
(g/t) - - 304 298 321
Average grade gold
(g/t) - - 0.95 0.94 0.99
Silver produced
(koz) - - 784 311 3,416
Gold produced (koz) - - 2.44 0.97 10.57
Silver equivalent
(koz) - - 982 390 4,273
Gold equivalent
(koz) - - 12.12 4.81 52.75
Silver sold (koz) - - 783 323 3,397
Gold sold (koz) - - 2.30 0.66 9.93
------------------------ --------- --------- -------- -------- --------
On 13 February 2019, Hochschild announced the suspension of
operations at Arcata with the mine subsequently placed on temporary
care and maintenance. There was consequently no output in H2 2019,
thus production for the full year equalled Q1 2019 at 0.4 million
silver equivalent ounces.
Average realisable prices and sales
Average realisable precious metal prices in Q4 2019 (which are
reported before the deduction of commercial discounts) were
$1,492/ounce for gold and $17.7/ounce for silver (Q4 2018:
$1,263/ounce for gold and $15.2/ounce for silver).
For 2019 as a whole, average realisable precious metal prices
were $1,414/ounce for gold and $16.5/ounce for silver (2018:
$1,268/ounce for gold and $15.3/ounce for silver).
Brownfield exploration
Inmaculada
During Q4 2019, just over 10,000 metres of resource drilling was
carried out in the Pilar, Salvador, Noelia, Susana Beatriz, Dora,
Jose, and Sandra veins. Selected intercepts are detailed below:
Vein Results (resource drilling)
Pilar IMM-19-025: 2.1m @ 6.2g/t Au & 271g/t Ag
IMM-19-028: 1.1m @ 1.9g/t Au & 69g/t Ag
IMM-19-029: 1.0m @ 1.8g/t Au & 87g/t Ag
IMM-19-032: 1.5m @ 2.5g/t Au & 250g/t Ag
HUA-19-007: 1.7m @ 3.1g/t Au & 180g/t Ag
HUA-19-008: 0.8m @ 3.6g/t Au & 150g/t Ag
------------------------------------------
Salvador ANE-19-027: 0.8m @ 3.6g/t Au & 192g/t Ag
ANE-19-028: 0.9m @ 7.8g/t Au & 357g/t Ag
ANE-19-029: 0.9m @ 267g/t Au & 1,783g/t
Ag
ANE-19-031: 0.8m @ 5.5g/t Au & 700g/t Ag
ANE-19-032: 1.6m @ 8.4g/t Au & 509g/t Ag
ANE-19-035: 0.8m @ 29.6g/t Au & 794g/t
Ag
ANE-19-037: 1.5m @ 2.7g/t Au & 120g/t Ag
HUA-19-006: 1.0m @ 8.4g/t Au & 534g/t Ag
IMM-19-025: 1.4m @ 5.0g/t Au & 261g/t Ag
IMM-19-032: 1.0m @ 2.2g/t Au & 168g/t Ag
------------------------------------------
Susana Beatriz ANE-19-029: 1.8m @ 2.7g/t Au & 219g/t Ag
ANE-19-030: 2.3m @ 3.1g/t Au & 253g/t Ag
ANE-19-037: 2.2m @ 1.7g/t Au & 136g/t Ag
HUA-19-006: 1.3m @ 3.3g/t Au & 272g/t Ag
HUA-19-007: 1.5m @ 3.7g/t Au & 102g/t Ag
HUA-19-008: 1.6m @ 3.3g/t Au & 122g/t Ag
------------------------------------------
Dora IMM-19-025: 1.5m @ 13.6g/t Au & 682g/t
Ag
IMM-19-026: 3.0m @ 7.2g/t Au & 279g/t Ag
IMM-19-030: 0.9m @ 6.9g/t Au & 231g/t Ag
SP-19-0223: 1.5m @ 9.6g/t Au & 351g/t Ag
SP-19-0238: 0.9m @ 6.0g/t Au & 235g/t Ag
------------------------------------------
Jose MIL-19-033: 3.5m @ 2.6g/t Au & 12g/t Ag
MIL-19-040: 1.6m @ 10.7g/t Au & 135g/t
Ag
MIL-19-047: 5.7m @ 3.8g/t Au & 119g/t Ag
MIL-19-050: 1.6m @ 4.2g/t Au & 7g/t Ag
MIL-19-052: 1.5m @ 2.3g/t Au & 40g/t Ag
MIL-19-053: 0.9m @ 3.0g/t Au & 259g/t Ag
MIL-19-058: 2.0m @ 4.3g/t Au & 146g/t Ag
MIL-19-062: 0.6m @ 6.2g/t Au & 781g/t Ag
MIL-19-063: 1.8m @ 3.8g/t Au & 191g/t Ag
MIL-19-071: 0.9m @ 3.3g/t Au & 115g/t Ag
MIL-19-083: 1.4m @ 3.8g/t Au & 97g/t Ag
MIL-19-086: 3.7m @ 2.4g/t Au & 55g/t Ag
------------------------------------------
Sandra MIL-19-042: 0.8m @ 3.9g/t Au & 151g/t Ag
MIL-19-059: 3.6m @ 1.3g/t Au & 62g/t Ag
MIL-19-060: 13.2m @ 3.0g/t Au & 148g/t
Ag
MIL-19-068: 1.5m @ 5.5g/t Au & 235g/t Ag
MIL-19-074: 1.2m @ 8.0g/t Au & 155g/t Ag
MIL-19-077: 1.8m @ 2.2g/t Au & 81g/t Ag
MIL-19-079: 1.3m @ 8.0g/t Au & 349g/t Ag
MIL-19-084: 1.6m @ 3.1g/t Au & 54g/t Ag
MIL-19-088: 3.1m @ 5.7g/t Au & 323g/t Ag
MIL-19-090: 1.4m @ 2.5g/t Au & 178g/t Ag
------------------------------------------
During Q4, the Company executed 37,000 metres of infill drilling
at Inmaculada with 25,000 metres at the Millet vein, 3,000 metres
in the Keyla vein and 1,500 metres in Angela. The brownfield team
are currently conducting infill drilling at the Divina and Susana
Beatriz veins with results pending.
Vein Results (infill drilling)
Millet MIL-19-051: 5.8m @ 3.8g/t Au & 138g/t Ag
MIL-19-053: 9.2m @ 4.1g/t Au & 88g/t Ag
MIL-19-056: 1.2m @ 8.2g/t Au & 804g/t Ag
MIL-19-059: 10.5m @ 3.4g/t Au & 127g/t
Ag
MIL-19-060: 4.4m @ 11.0g/t Au & 432g/t
Ag
MIL-19-062: 1.6m @ 3.9g/t Au & 199g/t Ag
MIL-19-072: 12.5m @ 4.5g/t Au & 51g/t Ag
MIL-19-075: 2.5m @ 4.4g/t Au & 122g/t Ag
MIL-19-080: 1.3m @ 3.5g/t Au & 263g/t Ag
MIL-19-082: 3.3m @ 66.0g/t Au & 835g/t
Ag
MIL-19-088: 6.6m @ 4.7g/t Au & 184g/t Ag
MIL-19-093: 3.1m @ 4.3g/t Au & 108g/t Ag
MIL-19-096: 2.0m @ 5.9g/t Au & 79g/t Ag
MIL-19-098: 9.9m @ 7.1g/t Au & 106g/t Ag
------------------------------------------
Alesandra MIL-19-074: 7.3m @ 4.5g/t Au & 166g/t Ag
MIL-19-077: 8.2m @ 3.4g/t Au & 189g/t Ag
MIL-19-088: 0.8m @ 7.0g/t Au & 261g/t Ag
SP-19-0284: 0.8m @ 12.8g/t Au & 25g/t Ag
------------------------------------------
Veronica MIL-19-042: 1.8m @ 4.7g/t Au & 350g/t Ag
MIL-19-045: 2.0m @ 21.3g/t Au & 2,373g/t
Ag
MIL-19-049: 1.3m @ 4.0g/t Au & 188g/t Ag
MIL-19-053: 0.8m @ 8.6g/t Au & 55g/t Ag
MIL-19-066: 0.8m @ 3.9g/t Au & 222g/t Ag
MIL-19-082: 1.0m @ 5.4g/t Au & 10g/t Ag
MIL-19-090: 2.2m @ 2.1g/t Au & 233g/t Ag
MIL-19-096: 1.7m @ 3.8g/t Au & 113g/t Ag
MIL-19-102: 0.9m @ 5.1g/t Au & 15g/t Ag
------------------------------------------
Pallancata
In Pallancata, 6,000 metres of potential and resource drilling
were carried out inside the mine of which 3,700 metres were long
drill holes to the Altzee, Royropata, Mercedes and additional
as-yet-unnamed veins with the results indicating the continuation
of the Rina 4 vein to the north-east. Also, in the Marco and Pablo
vein zones, 2,400 metres of resource drilling was executed in the
Juan, Simon and Andres structures with economic intercepts
indicating new resources in this area.
Vein Results (potential)
Rina DLVC-A61: 0.8m @ 1.0g/t Au & 425g/t Ag
----------------------------------------
Simon DLMARC-A17: 2.4m @ 1.2/t Au & 366g/t Ag
----------------------------------------
The Peruvian government recently granted the requisite permits
for surface drilling to begin at the Pablo Sur and Cochaloma zones
close to Pallancata. Later in January 2020, a 4,500m potential
drilling programme will start at Pablo Sur whilst a 2,000m
programme is also set for Cochaloma.
San Jose
At San Jose, 5,300 metres of potential drilling was carried out
in Q4 at the Micaela, Ayelen extension, Kospi Norte and Tonio
veins, as well as to the north-west at Aguas Vivas. In addition,
almost 4,000 metres of resource drilling was executed around the
current operations.
Vein Results
Sigmoide Luli SJD-2013: 0.9m @ 1.0g/t Au & 142g/t Ag
SJD-2014: 4.1m @ 1.5g/t Au & 45g/t Ag
----------------------------------------
Luli Sur SJD-2013: 3.1m @ 7.0g/t Au & 727g/t Ag
SJD-2014: 0.8m @ 4.2g/t Au & 753g/t Ag
----------------------------------------
Shala SJD-2013: 0.9m @ 1.2g/t Au & 90g/t Ag
----------------------------------------
Mara SJD-2013: 1.0m @ 13.3g/t Au & 1,259g/t
Ag
----------------------------------------
Ramal Luli SJD-2014: 1.9m @ 2.7g/t Au & 43g/t Ag
----------------------------------------
Ramal Ayelen SJD-2018: 1.6m @ 24.3g/t Au & 1,302g/t
Ag
----------------------------------------
New vein SJM-446: 2.0m @ 1.7g/t Au & 78g/t Ag
----------------------------------------
Ares
In Q4, 1,711m of potential drilling was carried at Ares
following previous results from long drill holes. New structures
were identified with grades but were generally narrow. New surveys
east of the Victoria target are scheduled for 2020.
Vein Results
Lula DDHVIC-1901: 0.3m @ 0.4g/t Au & 124g/t
Ag
------------------------------------------
New structure DDHVIC-1901: 0.3m @ 3.7g/t Au & 737g/t
Ag
DDHVIC-1901: 0.3m @ 2.8g/t Au & 262g/t
Ag
DDHVIC-1902: 0.3m @ 1.8g/t Au & 56g/t Ag
DDHVIC-1902: 0.9m @ 4.2g/t Au & 49g/t Ag
DDHVIC-1902: 0.6m @ 1.9g/t Au & 31g/t Ag
DDHVIC-1902: 0.3m @ 1.2g/t Au & 3g/t Ag
DDHVIC-1902: 0.3m @ 1.4g/t Au & 146g/t
Ag
DDHVIC-1902: 0.4m @ 9.7g/t Au & 61g/t Ag
DDHVIC-1902: 1.5m @ 4.8g/t Au & 13g/t Ag
------------------------------------------
Financial position
Total cash was approximately $166 million as at 31 December 2019
resulting in net debt of approximately $34 million (31 December
2018: $77 million).
On 17 December 2019, the Company closed a 5 year $200 million
loan with Scotiabank ($100 million) and BBVA ($100 million) at an
interest rate of LIBOR +1.15% with a 2 year grace period. The
existing short term debt of $150 million was repaid and therefore
the net increase in gross debt was $50 million.
Outlook(3)
The overall attributable production target for 2020 is 422,000
gold equivalent ounces or 36.0 million silver equivalent
ounces.
2020 Production split
Operation Gold production (oz approximate) Silver production (m oz
approximate)
Inmaculada 181,400 6.1
--------------------------------- ------------------------
Pallancata 19,300 5.5
--------------------------------- ------------------------
San Jose (100%) 93,300 6.5
--------------------------------- ------------------------
Total 294,000 18.1
--------------------------------- ------------------------
The all-in sustaining cost from operations in 2020 is expected
to be between $1,040 and $1,080 per gold equivalent ounce (or $12.1
and $12.5 per silver equivalent ounce) which includes a $22 million
project to expand the tailings storage facility at Inmaculada.
Operation AISC ($/oz) Au Eq AISC ($/oz) Ag Eq
------------------
Inmaculada 930-960 10.8-11.2
------------------
Pallancata 1,160-1,200 13.5-13.9
------------------
San Jose 1,150-1,190 13.4-13.8
------------------
Total from operations 1,040-1,080 12.1-12.5
------------------
The overall capital expenditure budget for 2020 is approximately
$115-130 million allocated to sustaining and development
expenditure. This includes a $22 million investment in the
above-mentioned tailings storage facility expansion at
Inmaculada.
2020 Capital expenditure split
Operation Sustaining & development capital expenditure
($m)
Inmaculada 80-85
---------------------------------------------
Pallancata 5-10
---------------------------------------------
San Jose 30-35
---------------------------------------------
Total 115-130
---------------------------------------------
The brownfield exploration budget for 2020 is approximately $36
million with the greenfield and advanced project budget set at
approximately $8 million and approximately $7 million for the
recently-acquired BioLantanidos deposit in Chile.
________________________________________________________________________________________
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.
Note
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (Regulation (EU) No.596/2014). Upon the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
LEI: 549300JK10TVQ3CCJQ89
- ends -
(1) 2019 equivalent figures calculated using the previous
Company gold/silver ratio of 81x. All 2020 forecasts assume the
average gold/silver ratio for 2019 of 86x.
(2) All in-sustaining costs from operations
(3) Although forecasts are unchanged versus press release dated
22/11/2019, equivalent figures have been updated to assume the
average gold/silver ratio for 2019 of 86x.
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
TSTVZLFFBFLLBBV
(END) Dow Jones Newswires
January 15, 2020 02:00 ET (07:00 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
