Business
Q2 2018 Production Report
Q2 2018 Production Report.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \nRNS Number : 9522U Hochschild Mining PLC 18 July 2018 \n\n \n__________________________________________________________________________________\n \n18 July 2018 \n \nProduction Report for the 6 months ended 30 June 2018\n \nIgnacio Bustamante, Chief Executive Officer said:\n\"Hochschild has delivered another very strong operational quarter with output at all our mines in line with expectations and therefore completes a record half for the Company. We are firmly on track to meet our production target for the year of 514,000 gold equivalent ounces (38 million silver equivalent ounces) within our guided cost levels.\n \nWe have also continued to see exciting results from our ambitious brownfield exploration plan. In particular, drilling at Inmaculada is expected to add substantial resources close to the current mining infrastructure whilst the programme at Arcata has also made good progress.\"\n \nAnother very strong quarter\n§ Attributable production[1]\no 5.0 million ounces of silver\no 68,477 ounces of gold\no 10.1 million silver equivalent ounces\no 136,201 gold equivalent ounces\n§ Record half attributable production\no 9.7 million ounces of silver\no 137,507 ounces of gold\no 19.9 million silver equivalent ounces\no 268,237 gold equivalent ounces\n§ On track to deliver overall 2018 production target of 514,000 gold equivalent ounces (38 million silver equivalent ounces)\n§ 2018 all-in sustaining costs on track to meet $960-$990 per gold equivalent ounce guidance ($13.0-13.4 per silver equivalent ounce)\nExploration programme delivering exciting results \n§ Brownfield programme continuing to add resources\no Further encouraging results from Inmaculada at Millet, Divina and Lola veins\no Estimated resource update for Inmaculada expected at interim results in August\no Encouraging results also being delivered at Arcata - developments being prioritised over inferred resource additions\no San Jose drilling set to restart after poor seasonal weather conditions\no Good progress on permitting for exciting 2019 drilling programme\nRobust financial position \n§ Total cash of approximately $142 million as at 30 June 2018 ($109 million as at 31 March 2018)\n§ Net debt of approximately $66 million as at 30 Ju...