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Hochschild on track after strong and steady H1

12 July 2017 07:31

Hochschild has reiterated its full-year output and cost forecasts after a strong and steady first half.

The group said H1 attributable production was in line with expectations with output of 8.9 million ounces of silver; 121,430 ounces of gold; 17.9 million silver equivalent ounces (H1 2016: 17.0 million silver equivalent ounces) and 242,208 gold equivalent ounces (H1 2016: 229,063 gold equivalent ounces) The group said it was on track to deliver overall 2017 production target of 37 million silver equivalent ounces.

It said 2017 all-in sustaining costs per silver equivalent ounce were expected to meet $12.2-12.7 guidance and 22,000 metres of drilling was scheduled for H2 2017. Chief executive Ignacio Bustamante said: "Hochschild has continued to deliver a strong and steady production performance in the first half of the year and we are therefore pleased to reiterate both our 2017 output and cost forecasts.

"During the second half, we can look forward to increasing contributions from our new Pablo vein at Pallancata as well as starting the key portion of our 2017 brownfield exploration programme."

Story provided by StockMarketWire.com

Related Company: HOC

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