Hochschild Mining Dividends - HOC

Hochschild Mining Dividends - HOC

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Hochschild Mining Plc HOC London Ordinary Share GB00B1FW5029 ORD 25P
  Price Change Price Change % Stock Price Last Trade
-8.90 -4.44% 191.50 16:35:19
Open Price Low Price High Price Close Price Previous Close
198.60 188.90 198.60 191.50 200.40
more quote information »
Industry Sector
MINING

Hochschild Mining HOC Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
18/02/2021FinalUSX2.33531/12/201931/12/202006/05/202107/05/202102/06/20216.335
20/11/2020InterimUSX431/12/201931/12/202003/12/202004/12/202031/12/20200
14/08/2019InterimUSX231/12/201831/12/201929/08/201930/08/201919/09/20192
25/02/2019FinalUSX1.9631/12/201731/12/201816/05/201917/05/201912/06/20193.93
15/08/2018InterimUSX1.96531/12/201731/12/201830/08/201831/08/201820/09/20180
21/02/2018FinalUSX1.9731/12/201631/12/201710/05/201811/05/201801/06/20183.35
16/08/2017InterimUSX1.3831/12/201631/12/201731/08/201701/09/201721/09/20170
08/03/2017FinalUSX1.3831/12/201531/12/201620/04/201721/04/201717/05/20172.76
16/08/2016InterimUSX1.3831/12/201531/12/201601/09/201602/09/201622/09/20160
22/08/2012InterimUSX331/12/201131/12/201229/08/201231/08/201220/09/20123
20/03/2012FinalUSX331/12/201031/12/201102/05/201204/05/201229/05/20126
23/08/2011InterimUSX331/12/201031/12/201131/08/201102/09/201122/09/20110
29/03/2011FinalUSX331/12/200931/12/201011/05/201113/05/201107/06/20115
18/08/2010InterimUSX231/12/200931/12/201001/09/201003/09/201022/09/20100
24/03/2010FinalUSX231/12/200831/12/200928/04/201030/04/201027/05/20104
19/08/2009InterimUSX230/12/200830/06/200902/09/200904/09/200922/09/20090
25/03/2009FinalUSX231/12/200731/12/200829/04/200901/05/200928/05/20094
21/08/2008InterimUSX230/12/200730/06/200803/09/200805/09/200823/09/20080
12/03/2008FinalUSX7.231/12/200631/12/200716/04/200818/04/200813/05/20089.2
18/09/2007InterimUSX230/06/200630/06/200726/09/200728/09/200719/10/20070
20/03/2007FinalUSX0.7431/12/200531/12/200613/06/200715/06/200706/07/20070.74

Top Dividend Posts

DateSubject
10/5/2021
17:34
rathkum: I thought the final dividend is 2.34USX. Am I missing something 10 May 2021 Conversion Rate for Proposed 2020 Final Dividend Further to the preliminary announcement of annual results released on 18 February 2021, the Directors of Hochschild Mining PLC have determined that the exchange rate to be applied to the proposed 2020 final dividend is US$1:GBP0.7197. Accordingly, the sterling equivalent of the proposed 2020 final dividend is 3.244 pence per Ordinary Share which will be paid, subject to shareholder approval, on 2 June 2021
27/4/2021
13:35
risa5: NV Gold Signs up to US$10 Million Option Deal with Hochschild on its 100% Controlled SW Pipe Gold Project April 26, 2021 NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) (“NV Gold” or the “Company”) reports that Hochschild Mining (US) Inc. (“HOC US”), a subsidiary of Hochschild Mining PLC (“Hochschild”) (LSE:HOC), has entered into an option agreement (the “Agreement”) with it in respect of the Company’s 100% controlled SW Pipe Gold Project (the “Property”), located along the Cortez Gold Belt approximately 6 km southwest of the Pipeline Gold Mine operated by Nevada Gold Mines (joint venture between Barrick Gold Corp. and Newmont Corporation). Highlights of the Option Agreement: Within 30 days of signing the Agreement HOC US will pay the Company US$50,000 plus the annual renewal costs of the Property in 2020. HOC US can earn a 51% interest in the Property by incurring US$7.5 million in exploration expenditures over 5 years (“Phase 1 Earn-in”) and making additional cash payments to NV Gold totalling US$750,000. HOC US may earn-in an additional 24% interest in the Property by incurring an additional US$2.5 million in exploration expenditures and delivering a completed Feasibility Study within 3 years of the Phase 1 Earn-in date (which may be extended by up to 3 further years subject to agreed payments by HOC US for each 12 month extension (“Phase 2 Earn-in”). At anytime after earning in a 51% interest in the Property (but prior to the expiry of the Phase 2 Earn-in period), HOC US can purchase 100% of the Property for US$25 million or 12,500 ounces of gold, at NV Gold’s election, and NV Gold would retain a 2% Net Smelter Royalty. “The close proximity to a larger operating gold mining complex operated by Nevada Gold Mines, and the known low grade gold system present at the SW Pipe Gold Project, provides the opportunity for a major discovery at depth. NV Gold will remain operator of the initial exploration programs on the project and we are excited to work with Hochschild to test the project at depth for extensions of the neighbouring multi-million ounce gold deposit at the Pipeline Mine. Initially the work will be aimed at assessing the potential for mineralization beyond the historic drilling and, in particular, for mineralization within steep “feeder” structures, which have not been tested by the historic vertical drilling. This will be an exciting exploration program,” commented Peter A. Ball, President and CEO of NV Gold. About the SW Pipe Gold Project ... Https://www.nvgoldcorp.com/news/nv-gold-signs-up-to-us-10-million-option-deal-with-2776/
10/3/2021
16:24
rathkum: https://citywire.co.uk/funds-insider/news/aaa-rated-jourdan-backs-new-commodity-supercycle-with-hochschild-buy/a1466566 AAA-rated Jourdan backs new commodity supercycle with Hochschild buy By Michelle McGagh 10 Mar, 2021 at 13:08 AAA-rated Jourdan backs new commodity supercycle with Hochschild buy With talk of a commodities super-cycle driving the price of metals higher, Amati’s Paul Jourdan has switched gold miner Centamin (CEY) for Hochschild Mining (HOC) which he says offers more ‘optionality’. Commodities across the board have been enjoying soaring prices, with grain costs jumping and oil shooting above $60 a barrel but it is silver that has stolen the headlines thanks to a retail investor pile-in two weeks ago that pushed the price to an eight-year high of $30 an ounce. Although silver has climbed back down since investors organised via Reddit to put a squeeze on short sellers of the precious metal, it has remained at the forefront of the commodity hike. Citywire AAA-rated Jourdan, manager of the £590m TB Amati UK Smaller Companies fund, has been ahead of the curve, ditching gold miner Centamin in favour of Hochschild Mining, which mines both gold and silver. He said the ‘excitement’ around precious metals, particularly gold, has been driven by government’s undertaking vast money printing programmes, leading investors to use ‘precious metals as a store of value…and defend against currency depreciation’. However, the story is different with ‘platinum group metals’ like silver, which although are used for jewellery also have ‘more of an industrial use’. ‘It is a great conductor of electricity, and anti-oxidising agent and anti-bacterial agent,’ he said. Jourdan said the potential demand for silver will expand if it becomes core to electric vehicle charging. ‘If we go down the route of induction charging – where you do not plug cars in but park in a certain place - that will benefit silver,’ he said. However, he noted that silver is ‘very expensive as an industrial metal’ and if it can be substituted for a cheaper metal it will be. ‘The reason we switched from Centamin to Hochschild is due to what it has in the way or options,’ he said. ‘There will be exploration this year and it has come up with some reasonably good results.’ Jourdan said the economic climate is positive for precious metals as the world moves out of the pandemic and through the ‘global industrial cycle’. China, which was first in and out of the pandemic, saw its economy rebound last year, pushing up demand for industrial metals but Jourdan said the ‘supply is constrained so there is some very good price rises’. Hochschild provides ‘optionality’ for Jourdan in that it has a ‘good number of different assets’ that will allows it to benefit from changes in the industrial cycle. This includes a rare metals mine in Chile, which Jourdan said had been at the centre of some investor disagreement. ‘Some investors disagree about how to take it forward. They say the company is a gold and silver miner and it should just do that but I’m keen for it to develop [the rare metals mine] as strategically it is good to have an independent provider of rare metals,’ he said. It is not just silver and gold that are hogging investor attention. The copper price has been climbing in recent months and in December, Goldman Sachs analyst predicted it will hit a 12-month price target of $9,500 per tonne this year, up from a previous projection of $7,500. The investment bank believes it will go on to hit all-time highs in 2022 as demand grows as electric vehicle production ramps up. Although he was reluctant to make predictions on whether copper prices would continue skywards, he said the historic high levels could be ‘sustained’ and there could be a ‘prolonged period of copper at the higher price’. He has added to his stake in AIM-listed copper miner Atalaya (ATYM), taking it to 2% of the portfolio. ‘It is really well run, it has mature assets, and has plenty of possibilities for expansion,’ he said. ‘[The shares are] not super low cost and I like to invest in assets at low cost.’ Jourdan said Atalya’s secret weapon is the copper processing technology it has that will help to cut costs that will be a ‘significant boost’ to the stock. Miners could continue to track upwards from here thanks to the shift to electric vehicles, which will help Jourdan (pictured above) continue his long track record of outperformance. The fund has outpaced peers in the Investment Association UK Smaller Companies sector and the Numis Smaller Companies plus AIM benchmark over one, three, five, and 10 years. Over the last decade the fund has risen 283.1%, more than double the 112.2% from the benchmark, and beating the 179.8% return from the average manager in the sector. ‘If prices stay high, then the good miners…can still do well from here, it is not all in the price,’ said Jourdan. ‘The market is sceptical at the momentum but we have not experienced the electrification of transport that is being brought about so it is hard to use history as a guide [for what prices will do].’
10/3/2021
16:23
rathkum: AAA-rated Jourdan backs new commodity supercycle with Hochschild buy By Michelle McGagh 10 Mar, 2021 at 13:08 AAA-rated Jourdan backs new commodity supercycle with Hochschild buy With talk of a commodities super-cycle driving the price of metals higher, Amati’s Paul Jourdan has switched gold miner Centamin (CEY) for Hochschild Mining (HOC) which he says offers more ‘optionality’. Commodities across the board have been enjoying soaring prices, with grain costs jumping and oil shooting above $60 a barrel but it is silver that has stolen the headlines thanks to a retail investor pile-in two weeks ago that pushed the price to an eight-year high of $30 an ounce. Although silver has climbed back down since investors organised via Reddit to put a squeeze on short sellers of the precious metal, it has remained at the forefront of the commodity hike. Citywire AAA-rated Jourdan, manager of the £590m TB Amati UK Smaller Companies fund, has been ahead of the curve, ditching gold miner Centamin in favour of Hochschild Mining, which mines both gold and silver. He said the ‘excitement’ around precious metals, particularly gold, has been driven by government’s undertaking vast money printing programmes, leading investors to use ‘precious metals as a store of value…and defend against currency depreciation’. However, the story is different with ‘platinum group metals’ like silver, which although are used for jewellery also have ‘more of an industrial use’. ‘It is a great conductor of electricity, and anti-oxidising agent and anti-bacterial agent,’ he said. Jourdan said the potential demand for silver will expand if it becomes core to electric vehicle charging. ‘If we go down the route of induction charging – where you do not plug cars in but park in a certain place - that will benefit silver,’ he said. However, he noted that silver is ‘very expensive as an industrial metal’ and if it can be substituted for a cheaper metal it will be. ‘The reason we switched from Centamin to Hochschild is due to what it has in the way or options,’ he said. ‘There will be exploration this year and it has come up with some reasonably good results.’ Jourdan said the economic climate is positive for precious metals as the world moves out of the pandemic and through the ‘global industrial cycle’. China, which was first in and out of the pandemic, saw its economy rebound last year, pushing up demand for industrial metals but Jourdan said the ‘supply is constrained so there is some very good price rises’. Hochschild provides ‘optionality’ for Jourdan in that it has a ‘good number of different assets’ that will allows it to benefit from changes in the industrial cycle. This includes a rare metals mine in Chile, which Jourdan said had been at the centre of some investor disagreement. ‘Some investors disagree about how to take it forward. They say the company is a gold and silver miner and it should just do that but I’m keen for it to develop [the rare metals mine] as strategically it is good to have an independent provider of rare metals,’ he said. It is not just silver and gold that are hogging investor attention. The copper price has been climbing in recent months and in December, Goldman Sachs analyst predicted it will hit a 12-month price target of $9,500 per tonne this year, up from a previous projection of $7,500. The investment bank believes it will go on to hit all-time highs in 2022 as demand grows as electric vehicle production ramps up. Although he was reluctant to make predictions on whether copper prices would continue skywards, he said the historic high levels could be ‘sustained’ and there could be a ‘prolonged period of copper at the higher price’. He has added to his stake in AIM-listed copper miner Atalaya (ATYM), taking it to 2% of the portfolio. ‘It is really well run, it has mature assets, and has plenty of possibilities for expansion,’ he said. ‘[The shares are] not super low cost and I like to invest in assets at low cost.’ Jourdan said Atalya’s secret weapon is the copper processing technology it has that will help to cut costs that will be a ‘significant boost’ to the stock. Miners could continue to track upwards from here thanks to the shift to electric vehicles, which will help Jourdan (pictured above) continue his long track record of outperformance. The fund has outpaced peers in the Investment Association UK Smaller Companies sector and the Numis Smaller Companies plus AIM benchmark over one, three, five, and 10 years. Over the last decade the fund has risen 283.1%, more than double the 112.2% from the benchmark, and beating the 179.8% return from the average manager in the sector. ‘If prices stay high, then the good miners…can still do well from here, it is not all in the price,’ said Jourdan. ‘The market is sceptical at the momentum but we have not experienced the electrification of transport that is being brought about so it is hard to use history as a guide [for what prices will do].’ https://citywire.co.uk/funds-insider/news/aaa-rated-jourdan-backs-new-commodity-supercycle-with-hochschild-buy/a1466566
23/2/2021
09:22
spinnereins: Ok I understand the 100 percent margin or you can;t play. but how does that affect say Fres or Hoc one available on margin one not ? Fres is down Hoc up albeit slightly i would have though other way around...if hoc shares get forcibly closed out won;t that push it lower ? At the same time i get that its seen that hoc is a possible target for people to jump on board. Can't figure why not Fres as well..in fact it's more silver exposure than hoc to my understanding
18/2/2021
19:37
rathkum: This from IC Dividend up, profits down for Hochschild Mining Gold, silver and rare earths seem a perfect 2020 combination, but that other theme for the year - Covid-19 - knocked the miner’s production and profits February 18, 2021 By Alex Hamer Covid-19 shutdowns hit Hochschild Mining's 2020 earnings Miner announced higher dividend and net cash position, however Hochschild Mining (HOC) shareholders must have watched with envy as other precious metals miners saw profits soar in 2020. The company has been negatively affected by Covid-19 disruption, but all is not lost. Hochschild has increased its dividend and reached its first net cash position in almost a decade. Shareholders will be paid a final dividend of 2.335ȼ (1.67p), bringing the total for 2020 to 6.335ȼ. HOC:LSE Hochschild Mining PLC 1mth Today change -2.91% Price (GBP) 213.20 Its profits and sales fell below 2019 despite the stronger gold and silver prices because of Covid-19 shut-downs. The company’s mines in Peru were shut down for much of the June quarter and its Argentina operation was also suspended at the end of 2020. Adjusted cash profits for the year were down a fifth on 2019 at $271m. Chief executive Ignacio Bustamente told Investors’ Chronicle the company still had a strong financial footing after the pandemic-hit year. “[This year] we should be generating a material amount of cash flow that should allow us to easily be able to complete our capex plans to continue paying dividends and also generating additional cash,” he said. That additional cash could go towards acquisitions, Bustamente said. The capital spending plan for 2021 is extensive, with $34m going to mine expansion works and $11m going to assets that are still in the exploration phase. Hochschild has guided a production recovery in 2021, with a forecast of 360,000-372,000 gold equivalent ounces. RBC Capital Markets analyst Tyler Broda sees the miner’s cash profits climbing by half this year, to $412m. At the end of 2019, the company made the surprise purchase of a rare earth elements project in Chile. Now, the decision looks prescient as geopolitics continue to dominate the market for the critical ingredient in wind turbines, electric vehicles and military technology. China dominates rare earths supply and processing. This week, the Financial Times reported the country would bring in tighter export controls of the materials. Bustamente said the Biolantanidos project was still in the early planning stages, but that “many different entities” had already made contact hoping to make supply deals. Hochschild will release a feasibility study on the mine before mid-year, which will give estimates of costs and potential profits from the operation. Hochschild lacks the impressive valuation increase of fellow Americas-focused precious metals miners - Fresnillo (FRES) particularly - but still offers plenty to shareholders after a very difficult year. Buy at 214p. HOCHSCHILD MINING (HOC) ORD PRICE: 214p MARKET VALUE: £ 1.1bn TOUCH: 214-215p 12-MONTH HIGH: 327p LOW: 80p DIVIDEND YIELD: 2.1% PE RATIO: 99 NET ASSET VALUE: 141ȼ NET CASH: $21.6m Year to 31 Dec Turnover ($m) Pre-tax profit ($m) Earnings per share (ȼ) Dividend per share (ȼ) 2016 688 108 9.0 2.76 2017 723 64.1 8.0 3.35 2018 704 38.4 3.0 3.92 2019 756 76.8 6.0 2.00 2020 622 62.9 3.0 6.34 % change -18 -18 -50 +217 Ex-div: 06 May Payment: 02 Jun £1=$1.39
02/12/2020
17:29
stevea171: 02 December 2020 Proposed secondary placing of shares in Hochschild Mining plc Pelham Investment Corporation (the "Seller") announces today its intention to sell approximately 62 million ordinary shares of Hochschild Mining plc (the "Company") (the "Placing Shares"), representing approximately 12 per cent. of the Company's existing issued ordinary share capital, through a placing to institutional investors (the "Placing"). The Seller is a company owned by Mr Eduardo Hochschild, Chairman of the Company, through which he holds his shareholding in the Company. Following the Placing, the Seller is expected to hold approximately 197 million shares representing approximately 38 per cent. of the Company's issued ordinary share capital. The Placing Shares will be offered to institutional investors (the "Placees") through an accelerated bookbuild to be carried out by J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) ("J.P. Morgan Cazenove") acting as sole bookrunner. The books for the Placing will open with immediate effect. In relation to the interim dividend announced 20 November 2020, as settlement of the Placing Shares will occur after the Record Date of 04 December 2020, the Placees will not be entitled to receive the interim dividend payments. The sale is subject to demand, price and market conditions, and, in particular, the number of Placing Shares may be changed. The identity of Placees and the basis of the allocations are at the discretion of the Seller and J.P. Morgan Cazenove. The price at which the Placing Shares are to be placed and the final number of Placing Shares will be agreed by the Seller and J.P. Morgan Cazenove at the close of the bookbuilding process. The details will be announced as soon as practicable after the close of the bookbuilding process. Mr Hochschild's family founded Hochschild Mining over one hundred years ago and he remains committed to the Company in the long-term. Nevertheless, Mr Hochschild believes now is an appropriate moment to recycle some capital from his holding in the Company to facilitate investments elsewhere across his existing businesses and in new opportunities. Mr Hochschild reiterates his firm belief in the Company's future and his confidence in the Company's current management team to continue delivering strong operating results as they have done this year in exceptionally challenging circumstances. He believes the Company's growth strategy has the potential to create significant shareholder value and he looks forward to sharing in this value creation process with fellow shareholders with his significant remaining holding. Furthermore, the Placing provides an opportunity to increase the free float of the Company which in turn should enhance liquidity to the benefit of all shareholders. Mr Hochschild will continue to serve as Chairman of the Company and, pursuant to the relationship agreement between the Company and the Seller, the Seller will retain the right to nominate up to two directors to the Company's Board. Mr Hochschild confirms he has no intention to reduce his shareholding to a level where these entitlements would lapse. In line with that commitment, and as part of the Placing, the Seller has agreed that it will not, for the period ending on the later of (i) 90 days after completion of the Placing; and (ii) the date of publication of the audited accounts of the Company for the financial year ending 31 December 2020, offer, sell or otherwise transfer any shares from its remaining shareholding in the Company, subject to customary exceptions. The Company will not receive any proceeds from the placing.
20/11/2020
07:52
stevea171: The overall attributable production target for 2021 is 360,000-372,000 gold equivalent ounces or 31.0-32.0 million silver equivalent ounces. [1] 2021 Attributable production split Operation Oz Au Eq Moz Ag Eq Inmaculada 223,000-228,000 19.2-19.6 ---------------- ---------- Pallancata 63,000-65,000 5.4-5.6 ---------------- ---------- San Jose 74,000-79,000 6.4-6.8 ---------------- ---------- Total 360,000-372,000 31.0-32.0 ---------------- ---------- The all-in sustaining cost from operations in 2021 is expected to be between $1,210 and $1,250 per gold equivalent ounce (or $14.1 and $14.5 per silver equivalent ounce). This includes a rise in mine development costs at San Jose in order to increase reserves and an increase in development at Inmaculada. Grades at Inmaculada are expected to be lower due to the delay in mine development resulting from the Covid-19 crisis. 2021 AISC split Operation $/oz Au Eq $/oz Ag Eq ------------ Inmaculada 1,040-1,080 12.1-12.5 ------------ Pallancata 1,440-1,480 16.8-17.2 ------------ San Jose 1,370-1,400 15.9-16.3 ------------ Total from operations 1,210-1,250 14.1-14.5 ------------ The overall capital expenditure budget for 2020 is approximately $120-130 million allocated to sustaining and development expenditure. This includes a $9 million investment in the delayed expansion of the tailings storage facility at Inmaculada as well as increased mine development work at Inmaculada. At San Jose, mine development work to increase reserves is also forecast to rise. 2021 Capital expenditure split Operation Sustaining & development capital expenditure ($m) Inmaculada 67-72 --------------------------------------------- Pallancata 6-8 --------------------------------------------- San Jose (100%) 47-50 --------------------------------------------- Total 120-130 --------------------------------------------- The brownfield exploration budget for 2021 is approximately $34 million with the greenfield and advanced project budget set at approximately $11 million and approximately $14 million for the BioLantanidos rare earth deposit in Chile which includes approximately $5 million of further exploration. Currency option and dividend mandate Shareholders wishing to receive their dividend in US dollars should request a currency election form from the Company's registrars using the contact details provided below. This form should be completed and returned to the registrars by 11 December 2020. The Company's registrars can also arrange for the dividend to be paid directly into a shareholder's UK bank account. This arrangement is only available in respect of dividends paid in UK pounds sterling. To take advantage of this facility in respect of the announced dividend, a dividend mandate form, also available from the Company's registrars, should be completed and returned to the registrars by 11 December 2020. Alternatively, you can register your bank details via Signal Shares, a secure online site where you can manage your shareholding quickly and easily. To register for Signal Shares just visit www.signalshares.com . All you need is your investor code which can be found on your share certificate or a previous dividend confirmation voucher. Shareholders who have already completed a currency election form and/or a dividend mandate form need take no further action. A conference call will be held at 1.00pm (London time) on Friday 20 November 2020 for analysts and investors. Dial in details as follows: UK Toll-Free Number: 0800 279 7204 International Dial in: +44 (0)330 336 9411 US/Canada Toll-Free Number: 888-394-8218 Pin: 3635443# A recording of the conference call will be available on demand on the Company's website: www.hochschildmining.com
20/11/2020
07:35
d3009: Nice RNS to start the day. Dividend + expecting to hit production targets + AISC lower than expected - Enjoy! hTTps://hocplc.gcs-web.com/news-releases/news-release-details/hochschild-miningplc-interim-dividend-and-2021-guidance Hochschild Mining PLC (HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the Company") is pleased to announce that, at its scheduled Board meeting on 19 November 2020, the Directors of the Company (the "Board") approved the payment of an interim dividend of 4.0 cents per share ($20.6 million). This decision was taken following the withdrawal of the recommendation to pay the 2019 final dividend and the postponement of the 2020 interim dividend due to the uncertainties caused by COVID-19 and the risk to the Company's operations. The Board recognises that whilst the Covid-19 crisis continues to affect both Peru and Argentina, Hochschild's balance sheet remains strong with the mines delivering a period of steady operation under strict health protocols supported by robust commodity prices. The Board will consider payment of a final dividend in respect of the financial year ended 31 December 2020 at its next scheduled meeting in February 2021. The Company is also today announcing its 2021 guidance following the completion of its budget process. Details are provided below. With regards to the current year, Hochschild remains on track to meet revised production guidance of 280,000-290,000 gold equivalent ounces or 24.0-25.0 million silver equivalent ounces. The all-in sustaining cost from operations in 2020 is now expected to be lower than revised guidance at between $1,200 and $1,250 per gold equivalent ounce or $14.0 and $14.5 per silver equivalent ounce. Ignacio Bustamante, Chief Executive Officer said: "Hochschild continues to recover well operationally from the Covid-19 related stoppages and with the situation steadily improving in the region, our Board considers the resumption of dividends as one of its priorities and confirms our confidence in the outlook for the business. In addition, we have also published our guidance for 2021 with the production, costs and capital expenditure reflecting the steady recovery. We remain in a healthy financial position and with continued strong precious metal prices and our ambitious brownfield programme in full swing, we can look forward to an exciting 2021."
22/9/2020
20:50
risa5: Hochschild Mining presses reset on Peruvian operations September 22, 2020 Hochschild Mining (LON: HOC) recently resumed production at full capacity at its biggest gold-silver mine in Peru, Inmaculada, following months of disruption caused by the coronavirus pandemic. The precious metals miner said it has implemented a series of measures to deal with a potential second wave of covid-19 at all of its operations to avoid major issues. Speaking to MINING.COM, chief executive Ignacio Bustamante said Hochschild employees now follow a stricter set of health protocols than those mandated by authorities in Peru an Argentina, including a “double covid-19 testing” program. THE PRECIOUS METALS MINER SAID IT EXPECTS VOLATILITY IN THE GOLD AND SILVER MARKETS TO LINGER THIS YEAR “As a company, we have been aiming to focus on prioritizing the health of our employees above business continuity,” Bustamante said. “We have also backed up these protocols with an ongoing communication campaign and a bespoke IT system to monitor the progress of cases amongst our employees and to facilitate shift-changes in a covid-secure manner.” Hochschild was forced to shut its flagship Inmaculada and its other Peruvian mine, Pallancata, from mid-March to mid-May as the country went into a strict lockdown. It reopened but was then forced to halt work at Inmaculada again in July after a number of workers tested positive for covid-19. The company was finally able to resume operations at full tilt on September 7. Restrictions on the movement of people in Argentina, however, remain in place, but Hochschild expects to reach full production by the fourth quarter. The company has already felt the impact of the closures on production. Before the pandemic, it expected to mine 36 million ounces of silver equivalent or 422,000 ounces of gold. It now targets 24 million to 25 million ounces of silver equivalent this year and 280,000-290,000 of gold equivalent. “We have issued a realistic revised forecast range but if we do see further stoppages due to the virus we might need to revise those figures,” Bustamante said, adding that the situation in both countries remained “delicate.” Ahead with exploration Hochschild is moving forward with its largest ever brownfield program, which includes over 200,000 metres of drilling. It’s focused on a number of precious metal targets in Peru and Argentina, close to its existing operations. The goal, Bustamante said, is to increase the life-of-mine of the company’s mines, improve the quality of its resources and fill up the spare plant capacity it has. Hochschild is also carrying out drilling at early stage projects including Crespo and Arcata in Peru, as well at other projects or former mines such as Condor, Corina and Ares. HOCHSCHILD IS EXECUTING A $9 MILLION GREENFIELD EXPLORATION PROGRAM, WITH TARGETS IN THE US, MEXICO AND CANADA The miner, which participated in the 2020 Denver Gold Forum Americas conference this week, is also executing a $9 million greenfield exploration program, with targets in the US, Mexico and Canada. Those include the SNIP project in British Columbia, being advanced by Skeena Resources, and in which Hochschild has an option on. The company has ventured into a new market, with its BioLantanidos rare earths project in Chile, which is expected to reach the feasibility stage early next year. “We believe that this ionic clay deposit (a type that is very rare outside of China) has the potential to be one of the lowest cost sources of high demand rare earths globally,” Bustamante said. “Ionic clay resources differ from the more common hard rock-based rare earth projects as the mineralization occurs close to the surface and does not require explosives.” That kind of project doesn’t need tailings dams, as the clay undergoes a simple and environmentally-friendly desorbing process that uses no harmful chemicals to extract the rare earth oxide before the washed clay is simply returned to the pit, Bustamante noted. Bustamante said the company still anticipates some volatility in silver prices and the market in general. “We think that the strength of silver price is underpinned by the significant fiscal and monetary stimulus initiated by governments and central banks in response to the covid-19 crisis and a weakening of the US dollar,” he said. Bustamante added there hasn’t been a significant supply response from silver or gold sectors yet. There are very few substantial primary silver projects close to production and many projects remain stuck in development or require significant financing, he noted. Gold prices have climbed this year by about 28%, hitting a record high of above $2,000 an ounce in August. Silver has also been gaining, outperforming gold, and is up 50% to $24 an ounce. https://www.mining.com/hochschild-mining-presses-reset-button-on-peruvian-operations/
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