Hochschild Mining
Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L for Reuters / HOC LN for Bloomberg) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild currently operates five underground epithermal vein mines, four located in southern Peru and one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has over sixteen long-term prospects throughout the Americas. Hochschild has over forty years experience in the mining of precious metal epithermal vein deposits.
Hochschild Mining deputy chairman Roberto Danino joins Lake Shore Gold board
Hochschild Mining PLC (LSE: HOC) said it deputy chairman and executive director Roberto Danino was appointed to the Lake Shore Gold Corp (TSX: LSG) board as a director with immediate effect.
Last week, Hochschild agreed to acquire a further 19.2 million shares in Lake Shore Gold in a private placement to raise its stake in the group to 36 percent from 32 percent, paying C$85 million, or an average price of C$4.43 per share.
In early October the group announced a placing and convertible bond offer to raise US$250 million, for further acquisitions as well as for further investments in Lake Shore Gold Corp and Gold Resource Corp (OTCBB: GORO) as well as for paying down debt.
Since 2008, Hochschild has invested a total of C$343 million in its stake in Lake Shore Gold at an average price of C$2.68 per share. The investment to date reflects its confidence in the significant production potential and long-term growth of Lake Shore Gold, which has a current market capitalisation of approximately C$1.3 billion.
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Other Hochschild Mining articles
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08/10/09 Hochschild raises US$260 mln for investment in Lake Shore and Gold Resource Corp, debt repayment; production on track
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01/07/09 Hochschild Mining increases interest in Gold Resource Corp to 23.9%
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10/03/09 Hochschild Mining to acquire Southwestern Resources for US$17.5 million
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21/01/09 Hochschild Mining expects to produce 28 million silver equivalent ounces in 2009
Other Hochschild Mining news
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17/03/10 Hochschild Mining files suit against Minera Andes seeking repayment of San José mine project loan
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05/03/10 Hochschild Mining sells 36.9% stake in Zincore for C$10.3m
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20/01/10 Hochschild hits 2009 production target and increases focus on exploration in 2010
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18/12/09 Hochschild ups stake in Gold Resource Corp to provide funds for El Aguila development
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20/11/09 FD capital ups Hochschild Mining target to £3.45 in response to Lake Shore Gold share purchase
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19/11/09 Hochschild Mining to raise Lake Shore Gold stake to 36 pct through C$85 million private placement
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19/08/09 Hochschild Mining on track to meet 2009 production target, H1 operating profit slips 17%
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15/07/09 Hochschild on track to hit full-year production target
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22/06/09 Zincore gets US$1 mln bridge loan from Hochschild
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08/06/09 Hochschild Mining completes construction of new power lines to silver mines in Peru and Argentina