LONDON (dpa-AFX) - Hochschild Mining PLC (HOC.L) reported that, in the second quarter of 2016, it delivered attributable production of 128.5 thousand gold equivalent ounces or 9.5 million silver equivalent ounces. This comprised of 4.5 million ounces of silver and 67.0 thousand ounces of gold. Overall, in the first half of 2016, the company delivered attributable production of 229.1 thousand gold equivalent ounces or 17.0 million silver equivalent ounces, including 8.2 million ounces of silver and 118.1 thousand ounces of gold.
Hochschild has increased its full year production guidance from 32.0 million to 34 million of attributable silver equivalent ounces. The all-in sustaining cost per silver equivalent ounce target has also been revised and is now expected to be between $11.0 to $11.5, a significant improvement on the previous guidance of $12.0 to $12.5 per ounce.
Ignacio Bustamante, CEO said: 'Our Inmaculada operation has performed above expectations and is on track to exceed its production and cost targets for the year emphasising its world class competitive position. We are now raising our target for overall 2016 production by 6% whilst at revising our all all-in sustaining cost down to between $11.0 and $11.5 per silver equivalent ounce. Furthermore, despite additional debt repayment, our cash position remains very strong at over $100 million.'
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