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21 February 2024
First Gold Pour at Mara
Rosa
Hochschild Mining PLC
(HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the
Company") is pleased to announce that the first gold pour has been
achieved at the Mara Rosa Mine in Brazil. The first pour took place
yesterday on 20 February.
Mara Rosa is Hochschild's first
Brazilian operation and is located in the state of Goias. The
project remains on schedule with commercial production expected
towards the end of the second quarter of 2024. Mara Rosa is
expected to produce between 83,000 to 93,000 ounces of gold in 2024
at an all-in sustaining cost of between $1,090 and $1,120 per
ounce.
As announced at the 2023 Capital
Markets Day, Brazil represents a key growth opportunity for
Hochschild as the Company continues to execute its strategy of
increasing production while reducing costs. Mara Rosa will provide
near-term production at a significantly lower cost, with strong
potential to find additional resources through the Company's
brownfield exploration programme.
Eduardo Landin, Chief Executive Officer
said:
"We are all very proud of the team for delivering Brazil's
newest gold mine. Mara Rosa will be a low-cost operation that will
create significant value for all our stakeholders. It plays an
important part in our stated strategy of increasing production and
reducing costs in the coming years. The first pour is testament to
the hard work done by all our employees, contractors and local
communities who have enabled us to construct this exciting
operation on schedule and on budget. With this milestone behind us,
we are now focusing on completing the ramp up of the processing
plant to achieve commercial production. In addition, our brownfield
team is continuing its programme to further grow the resource base
at a number of targets in the region."
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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
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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.
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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
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