Key Points – Hochschild Mining said it remains on track to meet full-year production guidance of 300,000 to 328,000 gold equivalent ounces after a solid second quarter, with strong cash generation leaving it with about $309 million in cash and a net cash position of roughly $51…
llion. – Costs are running above expectations, with attributable all-in costs tracking about 5% to 10% above guidance due to higher metal prices, royalties, profit-sharing, stronger local currencies, and inflation in Argentina. Management said it will update guidance after half-year results if needed. – Mara Rosa is improving as plant stability and contractor changes help production recover, while Monte Do Carmo and other projects continue advancing through engineering and permitting as the company looks to grow output over the next few years
Hochschild Mining (LON:HOC) reported what Chief Executive Officer Eduardo Landin called “another solid quarter,” with attributable second-quarter production of about 76,000 gold equivalent ounces and first-half production of almost 152,000 gold equivalent ounces. Landin said the company remains on track to meet production guidance of 300,000 to 328,000 gold equivalent ounces. He also said the company’s balance sheet strengthened during the period, ending June with approximately $309 million in cash and a net cash position of around $51 million.
Operations Remain on Track Despite Site-Specific Challenges At Inmaculada, Hochschild produced just over 45,000 gold equivalent ounces in the quarter. Landin said tonnage was slightly ahead of plan, though this was offset by moderately lower grades. He said the operation remains on track to meet full-year guidance.