REG - Hochschild MiningPLC - Capital Markets event & 2024 Guidance

Hochschild MiningAnnouncement

22/11/2023 07:00

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RNS Number : 2000U  Hochschild Mining PLC  22 November 2023

 

 

 

 

 

_____________________________________________________________________________________

22 November 2023

 

Hochschild Mining PLC

Capital Markets event & 2024 Guidance

 

 

Hochschild Mining PLC (HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the
Company") is to hold a Capital Markets event presentation for analysts and
investors at 10:30am today London time. A copy of the presentation will be
published on the Hochschild website at http://www.hochschildmining.com/en/home
at 10:00am.

 

Key highlights of the presentation:

§ Hochschild focused on core business and set to increase production and
lower costs from 2024

§ Production set to rise to 340,000-375,000 gold equivalent ounces in 2025

§ AISC set to reduce to $1,300-$1,400/oz per gold equivalent ounce in 2025

§ Flagship Inmaculada operation de-risked after MEIA approval

o  Minimum 200,000oz per annum base going forward with costs expected to fall
in 2025

§ New low-cost Mara Rosa project set to commission in Q1 2024, on time and on
budget

o  2024 production forecast of 83,000-93,000 ounces of gold at AISC of
$1,090-$1,120 per ounce

§ New Royropata deposit to deliver additional 100,000oz+ per annum from 2027

§ Disciplined capital allocation strategy

§ Overall 2024 production target:

o  343,000-360,0000 gold equivalent ounces

§ 2024 All-in sustaining costs target:

o  $1,510-$1,550 per gold equivalent ounce including $45 million of 2022/2023
deferred capital expenditure due to MEIA delays

 

 

Eduardo Landin, Chief Executive Officer, said:

"Today Hochschild's management team and I are pleased to present a newly
focused precious metal business which, based around our core assets, is
forecast to deliver both production growth and cost reductions over the next
few years. With our Inmaculada mine providing a solid and sustainable base for
the long-term, we are excited by the prospect of first production in the next
few months from our new Mara Rosa mine in Brazil and also by the potential at
the new Royropata deposit in southern Peru. I believe that, when set alongside
a disciplined approach to capital allocation and our ESG focus, the clear
strategy set out today will deliver strong shareholder returns in the near
future."

______________________________________________________________________________________

 

For a live webcast of the presentation please click on the link below or go to
our website at www.hochschildmining.com (http://www.hochschildmining.com)

https://stream.brrmedia.co.uk/broadcast/6514452201d979c8a2ec7ef1
(https://stream.brrmedia.co.uk/broadcast/6514452201d979c8a2ec7ef1)

 

Conference call dial in details:

UK Toll-Free Number: 0808 109 0700

International Dial in: +44 (0)330 551 0200

US Toll-Free Number: 866-580-3963

Canada Toll-Free Number: 866-378-3566

Pin: Hochschild CMD

 

The On Demand version of the webcast will be available shortly after the end
of the presentation and is accessible using the same webcast link.

________________________________________________________________________________________

 

 

2024 Guidance

The overall attributable production target for the year is 340,000-360,000
gold equivalent ounces. 1  (#_ftn1)

 

2024 production split

 Operation       Oz Au Eq
 Inmaculada      200,000-205,000
 Mara Rosa       83,000-93,000
 San Jose (51%)  60,000-62,000
 Total           343,000-360,000

 

The all-in sustaining cost from operations in 2024 is expected to be between
$1,510 and $1,550 per gold equivalent ounce.

 

2024 AISC split

 Operation              $/oz Au Eq
 Inmaculada             1,610-1,640
 Mara Rosa              1,090-1,120
 San Jose               1,670-1,730
 Total from operations  1,510-1,550

 

The capital expenditure budget for 2023 is approximately $171-178 million
allocated to sustaining and development expenditure. The remaining Mara Rosa
project capital expenditure budget is set at $10 million. The budget allocated
to the brownfield exploration programme for 2024 is $33 million.

 

2024 Capital expenditure split

 Operation        Sustaining & development capital expenditure ($m)
 Inmaculada       133-136
 Mara Rosa        7-8
 San Jose (100%)  31-34
 Total            171-178

 

________________________________________________________________________________________

 

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 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.

________________________________________________________________________________________

 

 

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

 

 

- ends -

 1  (#_ftnref1) All forecast equivalent figures assume a gold/silver ratio of
83x.

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