Eduardo Landin, Chief Executive Officer said:
"I am proud of our operational teams for delivering another strong performance in Q4 and therefore successfully meeting our full year production guidance once again.
The new Mara Rosa mine had a full quarter of operations, and, in Peru, Inmaculada continued to outperform expectations.
Additionally, our acquisition of the Monte do Carmo project in Brazil is another significant step forward in our portfolio's development, and we are excited for the low-cost growth opportunity it offers going forward.
Our brownfield team has had an exceptional year, delivering a number of exciting opportunities in the areas surrounding our existing assets and we will provide more information on the resulting resource additions in our Full Year Results announcement in March.
We look forward to another successful year as we continue executing our growth strategy." |
Financial position
§ Total cash of approximately $97 million as at 31 December 2024 ($89 million as at 31 December 2023)
§ Net debt reduced to approximately $216 million as at 31 December 2024 ($252 million as at 31 December 2023)
§ Current Net Debt/LTM EBITDA reduced to approximately 0.51x as at 31 December 2024
§ New green loan arranged to restructure existing debt and increase financial flexibility |
Operational highlights
§ Full year attributable production[1]
o 245,013 ounces of gold (2023: 186,091 ounces)
o 8.5 million ounces of silver (2023: 9.5 million ounces)
o 347,374 gold equivalent ounces in line with guidance (2023: 300,749 gold equivalent ounces)
o 28.8 million silver equivalent ounces (2023: 25.0 million silver equivalent ounces) |
Pretty detailed for a trading update:
2025 Guidance
The overall attributable production target for the year is 350,000-378,000 gold equivalent ounces.[5]
2025 production split
Operation
Oz Au Eq
Inmaculada
199,000-209,000
Mara Rosa
94,000-104,000
San Jose (51%)
57,000-65,000
Total
350,000-378,000
The all-in sustaining cost from operations in 2025 is expected to be between $1,587 and $1,687 per gold equivalent ounce.
2025 AISC split
Operation
$/oz Au Eq
Inmaculada
1,605-1,705
Mara Rosa
1,287-1,370
San Jose
2,007-2,135
Total from operations
1,587-1,687 |
7:00 am as usual. |
Current time here 17.01 , Uk time 21.01 what time are reports released on UK GMT ??? tia |
Next Event:
22/01/2025 at 14:00 (UTC+00:00)
Q4 2024 PRODUCTION RESULTS |
4Q production report tomorrow???Targeting 250p??? |
Respectable finish for a quiet day. Gla on the morrow. |
This was a great buy yesterday!!! |
I shall do the same and ignore.
Suprised HOC is not 240 area with Q4 days away. I think it will read well , I am more interested in the forward projections in the 2024 results in March.
New guidance , AISC falling and future plans. |
Burt777. "Baldrick your not Making any sense ... "
Apart from you, we have all stopped replying to the 'know nothing' trader. He's done no research here and any reply he takes as encouragement. |
That's reassuring:) |
Baldrick your not Making any sense so apologies if I find it hard to converse with you. Look at Q3 debt payback , Q4 is better production but also in the rear view mirror , it’s all about from this time forward for me.
Q1 will be set free and exposed to the gold price , I expect guidance will be set to 380-410,000 oz
So say an average of 100,000 oz a Quattro with only around 16% of that hedged
So we are massively game on to reduce debt. I would say debt repayment of 75 million per quarter from Q1
I think hoc will have no net debt 6 months from now
By the time the silver mine gets it environmental permit they will have enough cash to simultaneously progress everything out of cash flows and pay a handy dividend. They should be swimming in cash by the end of 2025 and have a war chest.
All you need is a calculator for it’s not hard to see how this does 50-100% from here and if gold goes 3000 dollars which I expect this year then who knows what dizzy heights we will get too ! |
What is the projected revenues for this financial year??significant and above expectation??? |
Baldrick you are clearly clueless , at this gold price debt could be gone in 6 months with ease , never mind 3 years , in 3 years we will prob have 2 futher mines in operation and be producing 600,000 oz per annum |
Hopefully the debts will be cleared within three years. |
It's the level of debt that's keeping this low. |
Rounded up my holdings today .US market closed for Trump's inauguration..so no much movement today. Pretty sure it will be very lively tomorrow..hopefully hoc will join the party. :) |
Meant to say collard not collated ! |
Agree with that except to say it still looks like you think 100,000 is collated in Q4 by the way you write. It’s 25,000 oz
So let’s assume HOC was treading water at 1900 dollar gold
That means 2700 gold it’s making roughly 60 million dollars extra
For me it’s how payables fall so I think net debt will fall 30 million pounds at a minimum because of the last payment for the new Brazilian mine.
Either way I think 2024 results will be more of a needle mover as they announce hopefully an enhanced guidance and small dividend. Plus future growth plans.
HOC seems to be a good one to leave your money in and forget about it as debt goes it should shift to the share price and as profits take off and cash surplus’s grow we can look forward to new mines been put on stream two to three years from now.
3000 gold will help move us to a 2 billion cap faster |
It depends if
Ounces mined meet or exceed expectation
If AISC meets or is below expectation
How cash and debt have moved given higher PM prices but despite 100k 2024 collar and the hedge
So hard to predict, in fact harder than the weather on weds which I can pretty safely say will stay on trend of grey and cold so where will Hoc open on weds and where close and will there be any surprises? |
240p-250p by Wednesday??? |
A mad,mad world !! |
Quarterly production report next week??? |
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