Make Kitco Your Homepage

Hochschild says on track to meet 2021 production guidance

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Hochschild Mining reported Wednesday that in Q1 2021, the company delivered attributable production of 85,738 gold equivalent ounces or 7.4 million silver equivalent ounces and achieved a solid start to the year at its key flagship Inmaculada operation (Peru) which benefited from better-than-expected grades.

The company’s attributable Q1 2021 gold equivalent production comprised of 52,843 ounces of gold and 2.8 million ounces of silver and was 9% lower than 94,120 gold equivalent ounces produced in Q1 2020.

The company reiterated that it is on track to deliver overall 2021 production target of 360,000-372,000 gold equivalent ounces or 31.0-32.0 million silver equivalent ounces with all-in sustaining cost on track to be in line with the guidance of between $1,210 and $1,250 per gold equivalent ounce (or $14.1 and $14.5 per silver equivalent ounce).

CEO Ignacio Bustamante commented, "We have delivered another solid start to the year with all our operations in line with expectations and remain on track to meet our 2021 production and cost targets. Our 2021 brownfield exploration programme has commenced and includes drilling at all three of our mines with early results from the Angela North vein at Inmaculada indicating significant high-grade additions to the already substantial resource base."

Hochschild Mining is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) 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 currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.