Business
Purchase additional WTM stake
Purchase additional WTM stake.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n RNS Number : 1602C Hochschild Mining PLC 06 November 2009 \n \n\n\n\n________________________________________________________________________\n\n6 November 2009 \nHochschild purchases an additional 4.2% of West Timmins Mining\n\nHochschild 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.\n\n\nToday, 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.\n\n\nHochschild 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. \n\n\nEnquiries:\nHochschild Mining plc\nIsabel Lütgendorf +44 (0)20 7907 2934\nHead of Investor Relations\n\nFinsbury\nRobin Walker +44 (0)20 7251 3801\nPublic Relations\nAbout Hochschild Mining plc:\nHochschild 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 Argenti...