REG - Hochschild MiningPLC - Sale of Crespo project for $15 million

Hochschild MiningAnnouncement

02/04/2024 07:00

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RNS Number : 8033I  Hochschild Mining PLC  02 April 2024

 

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2 April 2024

 

 

Sale of Crespo project for $15 million

 

 

Hochschild Mining PLC ("Hochschild" or the "Company") (LSE: HOC) (OTCQX:
HCHDF) is pleased to announce that it has completed the sale of its Crespo
project in southern Peru to Kina Mining Peru SAC (related to the Apumayo SAC
Group). Under the terms of the agreement, the Company will receive $15 million
as a non-refundable cash payment and a 1.5% Royalty Net Smelter Return (NSR)
over the project with Kina also assuming any future associated liabilities.

 

Eduardo Landin, Chief Executive Officer of Hochschild, commented:

"The sale of the Crespo project is consistent with our stated strategy of
disciplined capital allocation and focusing on our core assets such as the
Company's flagship Inmaculada mine and the new Royropata project, both in
Peru, as well as the recently-completed Mara Rosa mine in Goias, Brazil."

 

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Enquiries:

 

Hochschild Mining PLC

Charlie Gordon
           +44 (0)20 3709 3260

Head of Investor Relations

 

Hudson Sandler

Charlie Jack
              +44 (0)207 796 4133

Public Relations

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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' experience in the mining of precious metal epithermal vein deposits and
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.

 

LEI: 549300JK10TVQ3CCJQ89

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Forward-looking statements

Certain statements contained in this announcement that are not historical fact
may be "forward-looking" statements. These forward-looking statements are
subject to a number of risks and uncertainties, many of which are beyond the
Company's control and all of which are based on the Company's current beliefs
and expectations about future events. Forward-looking statements are typically
identified by the use of forward-looking terminology such as "believes",
"expects", "may", "will", "could", "should", "intends", "estimates", "plans",
"assumes" or "anticipates" or the negative thereof or other variations thereon
or comparable terminology, or by discussions of strategy that involve risks
and uncertainties. In addition, from time to time, the Company or its
representatives have made or may make forward-looking statements orally or in
writing. Furthermore, such forward-looking statements may be included in, but
are not limited to, press releases or oral statements made by or with the
approval of an authorised executive officer of the Company. These
forward-looking statements, and other statements contained in this
announcement regarding matters that are not historical facts, involve
predictions. No assurance can be given that such future results will be
achieved; actual events or results may differ materially as a result of risks
and uncertainties facing the Company and its subsidiaries. Such risks and
uncertainties could cause actual results to vary materially from the future
results indicated, expressed or implied in 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 applicable
law and/or regulatory obligations, the Company 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 is intended as a profit forecast or estimate for any period and
no statement in this announcement should be interpreted to mean that earnings
or earnings per share or income, cash flow from operations or free cash flow
for the Company for the current or future financial years would necessarily
match or exceed the historical published earnings or earnings per share or
income, cash flow from operations or free cash flow for the Company.

 

 

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