Business
Q4 2020 Production Report
Q4 2020 Production Report.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2330M\n Hochschild Mining PLC\n 20 January 2021\n \n \n \n \n \n \n \n \n \n \n \n _____________________________________________________________________________________\n \n \n 20 January 2021 \n \n \n \n \n \n Production Report for the 12 months ended 31 December 2020\n \n \n \n \n \n Ignacio Bustamante, Chief Executive Officer said:\n \n \n \"Our mines have delivered a successful fourth quarter despite continuing disruption from the pandemic and therefore I am pleased to announce that we have achieved our revised production targets for the year. Furthermore, our balance sheet is now in a net cash position following another period of substantial free cashflow generation driven by our strong operational performance and ongoing favourable precious metal prices. Finally, our brownfield programme continues to advance with Inmaculada expected to increase reserves significantly and encouraging new drill results achieved at Arcata, San Jose and Corina.\"\n \n \n Operational highlights \n \n \n § \n Full year attributable production at higher end of revised forecasts[1]\n \n \n o \n 175,241 ounces of gold\n \n \n o \n 9.8 million ounces of silver\n \n \n o \n 289,293 gold equivalent ounces (versus revised guidance of 280,000-290,000 gold equivalent ounces)\n \n \n o \n 24.9 million silver equivalent ounces (versus revised guidance of 24.0-25.0 million silver equivalent ounces)\n \n \n § \n Strong operational recovery despite ongoing Covid-19 related stoppages\n \n \n § \n All-in sustaining costs from operations in 2020 expected to be below revised guidance at between $1,200 and $1,250 per gold equivalent ounce or $14.0 and $14.5 per silver equivalent ounce\n \n \n Exploration highlights\n \n \n § \n Inmaculada close to completing successful 2020 drilling campaign\n \n \n o \n Infill drilling expected to increase reserves substantially \n \n \n § \n Maiden resource expected to be achieved in next few months at Corina deposit following encouraging intercepts\n \n \n § \n Promising results from the Saavedra area at San Jose\n \n \n § \n Encouraging early results from new Arcata exploration programme\n \n \n Strong financial position \n \n \n § \n Total cash of approximately $231 million as at 31 December 2020 ($166 million as at 31 Decem...