Business
Q1 2023 Production Report
Q1 2023 Production Report.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n\n \n____________________________________________________________________________________\n10 May 2023\n \n\nProduction Report for the 3 months ended 31 March 2023\n \nIgnacio Bustamante, Chief Executive Officer said:\n\"We remain on track to deliver our annual targets with an improved social situation in Peru and current mine plans delivering increased production going forward at San Jose and also at Inmaculada, subject to approval of the mine's Modified Environmental Impact Assessment which we expect in the second quarter. Finally, we continue to make encouraging progress at our Mara Rosa project in Brazil which has now reached 77% completion and is on schedule and on budget for first production in H1 2024.\"\n \nOperational highlights\n§ Q1 2023 attributable production[1]\no 39,735 ounces of gold\no 2.1 million ounces of silver\no 64,514 gold equivalent ounces\no 5.4 million silver equivalent ounces\n§ 2023 guidance reiterated:\no Production of 301,000-314,000 gold equivalent ounces (25.0-26.0 million silver equivalent ounces)\no All-in sustaining costs of $1,370-1,450 per gold equivalent ounce ($16.5-17.5 per silver equivalent ounce)\n§ Peruvian government decision on Inmaculada Modified Environmental Impact Assessment (\"MEIA\") expected during Q2 2023\nProject & Exploration highlights\n§ Mara Rosa project in Brazil advancing on schedule and on budget - total project progress at 77% with first production anticipated in H1 2024\no 27,600oz of gold hedged from March to December 2024 at a price of $2,100 per ounce\n§ 2023 brownfield drilling campaign at San Jose expected in Q2; Peru exploration timing subject to Inmaculada MEIA approval\nESG highlights\n§ Lost Time Injury Frequency Rate of 0.96 (FY 2022: 1.37)[2]\n§ Accident Severity Index of 35 (FY 2022: 93)[3]\n§ Water Consumption of 165lt/person/day (FY 2022: 171lt/person/day)\n§ Domestic waste generation of 0.98 kg/person/day (FY 2022: 1.05kg/person/day)\n§ ECO score of 5.88 out of 6 (FY 2022: 5.27)[4]\nStrong financial position\nTotal cash of approximately $103 million as at 31 March 2023 ($144 million as at 31 December 2022)\n§ Net debt of approximately $218 million as at 31 March 2023 ($175 million as at 31 December 2022)\n§ Current Net Cash/LTM EBITDA of approximately 0.95x a...