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Patagonia Gold Quarter 2 2023 Financial Results
VANCOUVER, British Columbia, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces its financial results
About this update from Patagonia Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces its financial results for the quarter ended June 30, 2023 (“Q2 2023”). The financial statements together with the related management’s discussion and analysis are available on the Company’s website and under the Company’s profile on SEDAR+ at www.sedarplus.ca. Highlights Generated revenue of US$0.4 million in Q2 2023. Produced 1,169 gold equivalent ounces(1) and sold 195 gold equivalent ounces(1) in Q2 2023. Completed 2,736 meters of diamond drilling, in 18 HQ-diameter core holes, at Monte Leon. Incurred exploration expenditures totaling US$1.32 million. On April 17, 2023, the Company suffered a robbery of 520 ounces of gold equivalent (AuEq) which is still under investigation by the local authorities. On June 9, 2023, the Company delivered a Default Notice to Mirasol Resources Ltd. (“Mirasol”) under the option agreement entered in April 2021 (the “Agreement”) in relation to the Homenaje property located in Santa Cruz province, Argentina due to the occurrence of a default. On July 11, 2023, the Company provided notice to Mirasol that the Agreement was terminated based on that default. Note: (1) Consisting of 901 gold and 22,367 silver ounces of production and 157 gold and 157 silver ounces sold, converted to a gold equivalent using a ratio of the average spot market price for the commodities each period. The ratio for three months ended June 30, 2023 was 80.54:1 (2022 – 83.62:1). Qualified Person’s Statement Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release. About Patagonia Gold Patagonia Gold Corp. is a South America focused, publicly traded, mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 430 properties in several p...