TIDMHOC
RNS Number : 2000U
Hochschild Mining PLC
22 November 2023
_____________________________________________________________________________________
22 November 2023
Hochschild Mining PLC
Capital Markets event & 2024 Guidance
Hochschild Mining PLC (HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild"
or "the Company") is to hold a Capital Markets event presentation
for analysts and investors at 10:30am today London time. A copy of
the presentation will be published on the Hochschild website at
http://www.hochschildmining.com/en/home at 10:00am.
Key highlights of the presentation:
-- Hochschild focused on core business and set to increase
production and lower costs from 2024
-- Production set to rise to 340,000-375,000 gold equivalent
ounces in 2025
-- AISC set to reduce to $1,300-$1,400/oz per gold equivalent
ounce in 2025
-- Flagship Inmaculada operation de-risked after MEIA
approval
o Minimum 200,000oz per annum base going forward with costs
expected to fall in 2025
-- New low-cost Mara Rosa project set to commission in Q1 2024,
on time and on budget
o 2024 production forecast of 83,000-93,000 ounces of gold at
AISC of $1,090-$1,120 per ounce
-- New Royropata deposit to deliver additional 100,000oz+ per
annum from 2027
-- Disciplined capital allocation strategy
-- Overall 2024 production target:
o 343,000-360,0000 gold equivalent ounces
-- 2024 All-in sustaining costs target:
o $1,510-$1,550 per gold equivalent ounce including $45 million
of 2022/2023 deferred capital expenditure due to MEIA delays
Eduardo Landin, Chief Executive Officer, said:
"Today Hochschild's management team and I are pleased to present
a newly focused precious metal business which, based around our
core assets, is forecast to deliver both production growth and cost
reductions over the next few years. With our Inmaculada mine
providing a solid and sustainable base for the long-term, we are
excited by the prospect of first production in the next few months
from our new Mara Rosa mine in Brazil and also by the potential at
the new Royropata deposit in southern Peru. I believe that, when
set alongside a disciplined approach to capital allocation and our
ESG focus, the clear strategy set out today will deliver strong
shareholder returns in the near future."
______________________________________________________________________________________
For a live webcast of the presentation please click on the link
below or go to our website at www.hochschildmining.com
https://stream.brrmedia.co.uk/broadcast/6514452201d979c8a2ec7ef1
Conference call dial in details:
UK Toll-Free Number: 0808 109 0700
International Dial in: +44 (0)330 551 0200
US Toll-Free Number: 866-580-3963
Canada Toll-Free Number: 866-378-3566
Pin: Hochschild CMD
The On Demand version of the webcast will be available shortly
after the end of the presentation and is accessible using the same
webcast link.
________________________________________________________________________________________
2024 Guidance
The overall attributable production target for the year is
340,000-360,000 gold equivalent ounces. [1]
2024 production split
Operation Oz Au Eq
Inmaculada 200,000-205,000
----------------
Mara Rosa 83,000-93,000
----------------
San Jose (51%) 60,000-62,000
----------------
Total 343,000-360,000
----------------
The all-in sustaining cost from operations in 2024 is expected
to be between $1,510 and $1,550 per gold equivalent ounce.
2024 AISC split
Operation $/oz Au Eq
Inmaculada 1,610-1,640
------------
Mara Rosa 1,090-1,120
------------
San Jose 1,670-1,730
------------
Total from operations 1,510-1,550
------------
The capital expenditure budget for 2023 is approximately
$171-178 million allocated to sustaining and development
expenditure. The remaining Mara Rosa project capital expenditure
budget is set at $10 million. The budget allocated to the
brownfield exploration programme for 2024 is $33 million.
2024 Capital expenditure split
Operation Sustaining & development capital
expenditure ($m)
Inmaculada 133-136
---------------------------------
Mara Rosa 7-8
---------------------------------
San Jose (100%) 31-34
---------------------------------
Total 171-178
---------------------------------
________________________________________________________________________________________
Enquiries:
Hochschild Mining PLC
Charles Gordon +44 (0)20 3709 3264
Head of Investor Relations
Hudson Sandler
Charlie Jack +44 (0)207 796 4133
Public Relations
________________________________________________________________________________________
About Hochschild Mining PLC
Hochschild Mining PLC is a leading precious metals company
listed on the London Stock Exchange (HOCM.L / HOC LN) and
crosstrades on the OTCQX Best Market in the U.S. (HCHDF), with a
primary focus on the exploration, mining, processing and sale of
silver and gold. Hochschild has over fifty years' of experience in
the mining of precious metal epithermal vein deposits and currently
operates three underground epithermal vein mines, two located in
southern Peru and one in southern Argentina. Hochschild also owns
the Mara Rosa Advanced Project in Brazil as well as numerous
long-term projects throughout the Americas.
________________________________________________________________________________________
Forward looking statements
This announcement may contain forward looking statements. By
their nature, forward looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that will or may occur in the future. Actual results,
performance or achievements of Hochschild Mining PLC may, for
various reasons, be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements.
The forward looking statements reflect knowledge and information
available at the date of preparation of this announcement. Except
as required by the Listing Rules and applicable law, the Board of
Hochschild Mining PLC does not undertake any obligation to update
or change any forward looking statements to reflect events
occurring after the date of this announcement. Nothing in this
announcement should be construed as a profit forecast.
This announcement contains information which prior to its
release could be considered inside information.
LEI: 549300JK10TVQ3CCJQ89
- ends -
[1] All forecast equivalent figures assume a gold/silver ratio
of 83x.
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