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Patagonia Gold Second Quarter 2020 Financial Results and Filing of Restated Financial Statements and MD&A for Q3 2019
VANCOUVER, British Columbia, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) is pleased to announce its unaud
About this update from Patagonia Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) is pleased to announce its unaudited results for the fiscal period ended June 30, 2020 (“Q2 2020”). The financial statements together with the management’s discussion and analysis (“MD&A”) are available on the Company’s website and on SEDAR at www.sedar.com. Highlights Revenue of US$4.71 million and gross profit of US$0.8 million in Q2 2020. Total production of 2,268 gold ounces and 36,760 silver ounces in Q2 2020. Submitted application for preliminary environmental permit (the “Lomada Permit”) for mining and leaching operations at Lomada de Leiva gold project and received a Preliminary Permit on October 8, 2020. Completed a 76 line-km ground magnetic survey and 7.7 line-km of pole-dipole induced polarization-resistivity (IP/Res) at Calcatreu during Q2 2020. Completed a 480 line-km ground magnetic survey, covering 24 km2, at La Josefina gold/silver project during Q2 2020. Christopher van Tienhoven, CEO commented: “Our team continues to maintain gold and silver production at some of Patagonia’s projects generating cash flow for exploration and development. We are continuing on our journey of becoming an intermediate mining producer in a socially responsible manner committed to environmental sustainability and the safety and health of our people.” Patagonia also announces that it has filed restated condensed interim consolidated financial statements and MD&A for the interim period ended September 30, 2019, which are available on the Company’s profile on SEDAR at www.sedar.com. Subsequent to the issuance of the condensed interim consolidated financial statements for the three and nine months ended September 30, 2019 on November 28, 2019 on SEDAR at www.sedar.com, the Company determined that there were errors related to the accounting for the reverse acquisition of Hunt Mining Corp. completed on July 24, 2019, as well as the conversion of several balances denominated in foreign currencies. As a result, balances reported in the Company’s condensed interim consolidated statements of financial position and comprehensive income (loss) have been restated from amounts previously reported. The Company also made additional presentation changes and note disclosure improvements in the restated financial stat...