LONDON (dpa-AFX) - Hochschild Mining (HOC.L) reported Wednesday that third-quarter attributable production was 68.42 thousand gold equivalent ounces or 5.88 million silver equivalent ounces, sharply lower than last year's 118.28 thousand or 10.17 million, respectively.
However, third-quarter reported a strong recovery compared to preceding second quarter's 32.71 thousand gold equivalent ounces or 2.81 million silver equivalent ounces impacted by effects of the Covid-19 crisis.
Overall year-to-date attributable production is 195,258 gold equivalent ounces or 16.8 million silver equivalent ounces.
Further, the company said it remains on track to meet its revised production target for 2020 of 280,000-290,000 gold equivalent ounces or 24.0-25.0 million silver equivalent ounces.
The company also reiterated that its all-in sustaining cost for 2020 is on track to be in line with the revised guidance of $1,250-$1,290 per gold equivalent ounce or $14.5-15.0 per silver equivalent ounce.
Ignacio Bustamante, Chief Executive Officer said, 'Hochschild is recovering well from a challenging first half in which all of our operations were impacted by the global pandemic. Output has steadily increased and we have generated substantial free cashflow despite the Company not being in full production throughout the entire period. With prices continuing to be strong, we are aiming for a robust fourth quarter which will also include the bulk of our 2020 brownfield drilling programme.'
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