REG - Hochschild MiningPLC - Commercial Production Achieved at Mara Rosa

Hochschild MiningAnnouncement

14/05/2024 07:00

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RNS Number : 2545O  Hochschild Mining PLC  14 May 2024

 

 _____________________________________________________________________________________

14 May 2024

 

 

Commercial Production Achieved at Mara Rosa

 

 

Hochschild Mining PLC (HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the
Company") is pleased to announce that commercial production has been achieved
at the Company's Mara Rosa gold mine in Brazil, effective 13 May 2024.

 

During May, the Mara Rosa processing plant has operated at an average
throughput of approximately 90% of its name-plate capacity of 7,000 tonnes per
day and exceeded 80% average recoveries. The ramp-up is on schedule to be
completed in H1 and gold production is expected to continue to increase in the
third and fourth quarters of 2024, with the mine on track to produce between
83,000 to 93,000 ounces of gold this year.

 

Mara Rosa is Hochschild's first Brazilian operation and is located in the
state of Goias. Brazil represents a key growth opportunity for Hochschild as
the Company continues to execute its strategy of increasing production while
reducing costs. Mara Rosa is delivering production at a significantly lower
cost, with excellent potential to provide additional resources which we are
targeting through the Company's brownfield exploration programme. Furthermore,
the Company recently announced the securing of an option to acquire 100% of
Cerrado Gold's Monte Do Carmo gold project ("MDC") in the state of Tocantins.
This low-cost opportunity will follow the blueprint established at Mara Rosa
and, if the option is exercised, MDC will provide the Company with a further
source of growth, also with a compelling cost profile.

 

Eduardo Landin, Chief Executive Officer, said:

"Achieving commercial production at Mara Rosa is a significant milestone for
Hochschild and has been delivered ahead of our end H1 2024 forecast. This
brings a new jurisdiction to the Company and provides a springboard for
further low-cost growth in Brazil. We are pleased that Mara Rosa is ramping up
quickly and thank our team, contractors and stakeholders for their hard work
and support."

 

________________________________________________________________________________________

 

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

________________________________________________________________________________________

 

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 two underground epithermal vein mines: Inmaculada, located
in southern Peru; and San Jose in southern Argentina, and an open pit gold
mine, Mara Rosa, located in the state of Goiás, Brazil.  Hochschild also has
numerous long-term projects throughout the Americas.

________________________________________________________________________________________

 

 

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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