Investor Alert

Oct. 21, 2020, 3:19 a.m. EDT

Hochschild reaffirms guidance as production climbs

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By Jaime Llinares Taboada

Hochschild Mining PLC on Wednesday said its third-quarter gold-and-silver production almost doubled from the April-June period, and reaffirmed its revised 2020 guidance.

The FTSE 250 company said gold-equivalent production surged 97% to 83,690 ounces in the three months ended Sept. 30, compared with the quarter ended June 30--when the pandemic disrupted its mining operations.

However, third-quarter production was 41% below that of a year earlier, as the Inmaculada mine in Peru continued to feel the effects of the pandemic, Hochschild said.

Gold sales rose 33% from the preceding quarter, and silver sales surged 75%, it said.

For the full year, Hochschild reaffirmed its 280,000-290,000 gold-equivalent-ounces production target, with all-in sustaining costs of $1,250 to $1,290 an ounce.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

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