Business
Patagonia Gold Third Quarter 2020 Financial Results
VANCOUVER, British Columbia, Nov. 27, 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, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) is pleased to announce its unaudited results for the fiscal period ended September 30, 2020 (“Q3 2020”). The financial statements together with the management’s discussion and analysis are available on the Company’s website and on SEDAR at www.sedar.com. Highlights Revenue of US$6.55 million and gross profit of US$2.34 million in Q3 2020. Total production of 2,020 gold equivalent ounces (1,596 ounces of gold and 33,073 ounces of silver) with 3,277 gold equivalent ounces (2,679 ounces of gold and 47,703 ounces of silver) sold in Q3 2020. Received preliminary environmental permit to resume mining operations at its Lomada de Leiva gold/silver mine (“Lomada”). (See the Company’s press release dated October 8, 2020.) Signed definitive option agreement with Latin Metals Inc. to acquire a 100% interest in the Mina Angela gold property. Completed 251.7 line km of ground magnetics surveying at its Calcatreu gold/silver project. After Q3 2020, completed the conversion of an aggregate of US$10 million of outstanding debt to common shares at a price of approximately $0.30 per share. On November 23, 2020, obtained a provisional permit to advance the development of the Cap Oeste underground project (“Cap Oeste”). Christopher van Tienhoven, CEO commented: “The Company continues to generate revenue from the residual leach operations at Cap Oeste and Lomada and is excited with the opportunity to resume mining and leaching activities at Lomada as a result of the improved precious metal prices.” Qualified Person’s Statement Donald J. Birak, an independent geologist and Registered Member of SME and Fellow of AusIMM, the qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical content of this press release. About Patagonia Gold Patagonia Gold Corp. is a mining and development 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 m...