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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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