Business
Announcement Re: Minera Andes
Announcement Re: Minera Andes.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n RNS Number : 5411N Hochschild Mining PLC 18 February 2009 \n \n\n\n18 February 2009 \n\nHochschild Mining withdraws offer to Minera Andes\n\nHochschild Mining plc ('Hochschild') acknowledges the announcement released by Minera Andes Inc. ('MAI') detailing their acceptance of revised terms for the private placement to Robert McEwen priced at C$1 per MAI share. \n \nAs a consequence, Hochschild has withdrawn its latest offer, dated 16 February 2009.\n \nAs MAI's JV partner and operator of the San José mine, Hochschild is pleased that Minera Andes has resolved its current financing issues (subject to TSX approval) and that the San José asset will be timely funded. \n \nRoberto Dañino, Deputy Chairman of Hochschild Mining, commented: \n \n'We are pleased that MAI will be able to meet its current financial obligations and that the terms of the refinancing have been improved to the benefit of all shareholders. We look forward to working with Minera Andes to continue to develop the operation and realise its full potential'.\n\n_____________________________________________________________________\n\nEnquiries:\n\nHochschild Mining plc\nIsabel Lütgendorf +44 (0)20 7907 2934 \nHead of Investor Relations\n \n\nIgnacio Rosado +511 437 6007 \nChief Financial Officer\n\nFinsbury\nRobin Walker +44 (0)20 7251 3801\nPublic Relations\n\nAbout Hochschild Mining plc:\n\nHochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L for Reuters / HOC LN for Bloomberg) with a primary focus on the exploration, mining, processing and sale of silver and gold....