Patagonia Gold PLC Cap Oeste Production Update (6937Q)
June 08 2018 - 1:00AM
UK Regulatory
TIDMPGD
RNS Number : 6937Q
Patagonia Gold PLC
08 June 2018
8 June 2018
Patagonia Gold Plc
("Patagonia Gold" or the "Company")
Cap Oeste Production Update
Patagonia Gold Plc, the mining company with gold and silver
projects in the southern Patagonia region of Argentina, Chile and
Uruguay, is pleased to provide an update on production at Cap Oeste
for Q1 2018.
Production at Cap Oeste for Q1 2018 totalled 10,662 oz AuEq at
an average cash cost of US$693/oz and US$756/oz including
depreciation and amortisation.
The team at Cap Oeste continue with efforts to optimise the
production process while the installation of the new crushing
circuit to reprocess the material already stacked on the leach pad
is completed.
The Company is using the proceeds from gold sales from Cap Oeste
to complete the payment of the new crushing circuit as well as
reducing its net debt position.
The production guidance for the year is currently being reviewed
and the market will be updated once this exercise is complete.
About Patagonia Gold
Patagonia Gold Plc is a mining company that seeks to grow
shareholder value through exploration, development and production
of gold and silver projects in the southern Patagonia region of
Argentina. The Company is primarily focused on its flagship Cap
Oeste project in Santa Cruz and the recently acquired Calcatreu
project in Rio Negro. In addition, it is carrying out exploration
in Manchuria and Sarita in Argentina and San Jose in Uruguay.
Patagonia Gold, indirectly through its subsidiaries or under option
agreements, has mineral rights to over 220 properties in several
provinces of Argentina, Chile and Uruguay and is one of the largest
landholders in the province of Santa Cruz, Argentina.
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Plc
Tel: +54 11 5278 6950
Angela Hallett
Strand Hanson Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 7409 3494
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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