Business
Q2 2023 Production Report
Q2 2023 Production Report.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n\n \n \n \n \n \n_____________________________________________________________________________________\n25 July 2023\n \nProduction Report for the 6 months ended 30 June 2023\n \nHochschild Mining PLC (\"Hochschild\" or \"the Company\") (LSE: HOC) (OTCQX: HCHDF) is pleased to announce its production report for H1 2023.\n \nIgnacio Bustamante, Chief Executive Officer said:\n\"After a stronger second quarter, we are looking forward to production increasing throughout the remainder of 2023. With regards to Inmaculada's Modified Environmental Impact Assessment, we are continuing to work with SENACE on its final review, and therefore will update our production and cost guidance for 2023 following completion of the process. Finally, we are pleased that further promising progress has been made at our Mara Rosa development project in Brazil and that we remain on track for first production early in 2024.\"\n \nOperational highlights\n§ Q2 2023 attributable production:[1]\no 43,622 ounces of gold\no 2.4 million ounces of silver\no 72,364 gold equivalent ounces\no 6.0 million silver equivalent ounces\n§ H1 2023 attributable production \no 83,357 ounces of gold\no 4.4 million ounces of silver\no 136,878 gold equivalent ounces\no 11.4 million silver equivalent ounces\nProject highlights\n§ Mara Rosa project in Brazil advancing on schedule and on budget - total project progress at 88% with first production on track for H1 2024\n§ H2 2023 Brownfield programme expected to commence subject to receipt of Inmaculada's MEIA\nESG highlights\n§ Lost Time Injury Frequency Rate of 0.84 (FY 2022: 1.37)[2]\n§ Accident Severity Index of 32 (FY 2022: 93)[3]\n§ Water Consumption of 168lt/person/day (FY 2022: 171lt/person/day)\n§ Domestic waste generation of 0.95 kg/person/day (FY 2022: 1.05kg/person/day)\n§ ECO score of 5.89 out of 6 (FY 2022: 5.27)[4]\nFinancial position\n§ Total cash of approximately $94 million as at 30 June 2023 ($103 million as at 31 March 2023)\n§ Net debt of approximately $227 million as at 30 June 2023 ($218 million as at 31 March 2023)\n§ Current Net Debt/LTM EBITDA of approximately 1.04x as at 30 June 2023\n§ Additional gold hedges...