“On 12 April 2023, the Company hedged 27,600 ounces of 2024 gold production at $2,100 per ounce, on 19 June 2023 the Company hedged 150,000 ounces of 2025, 2026 and 2027 gold production (50,000 per year) at $2,117, $2,167 and $2,206 per ounce respectively, and on 14 December 2023 the Company hedged 100,000 ounces of 2024 gold production using gold collars with a strike put of $2,000 per ounce and a strike call of $2,252 per ounce.” |
don't HOC have a substantial amount of gold hedged at much lower prices - is that what is causing them not to make as much dosh at they could have? |
Seems a fair instant reaction but on reflection Hoc should pick back up a bit. Now valued at around a billion and next years profit could be 200k so forward PE of 5?? Are my sums right? |
No doubt Eduardo will be cross examined by analysts on the higher than expected AISC on the conference call this afternoon..
Market reacting as you'd expect..
200p |
A bit depressing that aisc is so much higher than expected and even higher in 2025. Wonder why when more ounces should be mined next year spreading costs and Mara Rosa should be ramped up. However used to higher than expected costs from Hoc and as usual let’s hope higher gold and silver save the day and make up for the extra costs |
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 ! |
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