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So they did achieve it afterall - was expecting a bit more action on the SP however! hasnt done anything!
I know it’s considered “uncool” to look at broker ratings but Canaccord Genuity have today upped their target from 145p to 160p. Just saying…
Correct with your guess. Their income on the gold pour haul to be less than $100k.
I’ve got enough invested here that a penny or two would be fantastic
Perhaps a penny or two for today.
First Gold Pour at Mara Rosa
Hochschild Mining PLC (HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the Company") is pleased to announce that the first gold pour has been achieved at the Mara Rosa Mine in Brazil. The first pour took place yesterday on 20 February.
Mara Rosa is Hochschild's first Brazilian operation and is located in the state of Goias. The project remains on schedule with commercial production expected towards the end of the second quarter of 2024. Mara Rosa is expected to produce between 83,000 to 93,000 ounces of gold in 2024 at an all-in sustaining cost of between $1,090 and $1,120 per ounce.
As announced at the 2023 Capital Markets Day, Brazil represents a key growth opportunity for Hochschild as the Company continues to execute its strategy of increasing production while reducing costs. Mara Rosa will provide near-term production at a significantly lower cost, with strong potential to find additional resources through the Company's brownfield exploration programme.
Eduardo Landin, Chief Executive Officer said:
"We are all very proud of the team for delivering Brazil's newest gold mine. Mara Rosa will be a low-cost operation that will create significant value for all our stakeholders. It plays an important part in our stated strategy of increasing production and reducing costs in the coming years. The first pour is testament to the hard work done by all our employees, contractors and local communities who have enabled us to construct this exciting operation on schedule and on budget. With this milestone behind us, we are now focusing on completing the ramp up of the processing plant to achieve commercial production. In addition, our brownfield team is continuing its programme to further grow the resource base at a number of targets in the region."
The RNS has landed. How will it affect the share price now? I have no idea but glad that I’m in.
Hochschild directors have been bad with deadlines historically. If there was any chance of a delay towards the end of February, I would have said "first pour likely in March" to have some safety margin.
To give news of that first pour and prediction of drift to mid 80s being realised
Rogue Trader highlights the increased longterm debt and reduced cash & equivalents, and completely ignores that this has been displaced with an increased value in property, plant and equipment and 5 million hours invested in the Mara Rosa project. In 2024: “New Mara Rosa mine set to produce 83,000-93,000 ounces of gold at AISC of $1,090-$1,120 per ounce”. On time and on budget, to increase Hochschild’s output by over 15%. Yet the guy in the video says: “This new Mara Rosa project, you know, I can’t really see that really making all that much of a difference…” 😂
Rogue. That HOC analysis video you put up today is fundamentally flawed. The guy says Mara Rosa production in H2/24 instead of this month. He compounds that by expecting production there of 100k oz over 4 years instead of 90l oz this year and 100k oz pa for the first 4 years of mine life. No mention of high AISC coming down after this year. No mention of Pallancata being now closed and high costs there replaced by low cost Mara Rosa etc etc. So the financial analysis is just plain garbage!
2024 guidance: New Mara Rosa mine set to produce 83,000-93,000 ounces of gold at AISC of $1,090-$1,120 per oz
Mara Rosa video:: https://vimeo.com/889422278
Analysis of Hochschild Mining : https://www.youtube.com/watch?v=wtJFzrU9Bh4
Recent RNS said 1st gold pour at Mara Rosa expected in February. Should know of the effect on SP, if any, soon enough.
I think there's room for both on this one. Mara Rosa has been a drag on sentiment and the share price. Surely there'd be some relief to see it finally get going? But that rising tide of sector rotation, if it ever finally happens,will hopefully be the multiplier.
Saab nothing happened when other miners did their first gold pour that I have owned. It is when the ramping up phase has proved successful that the SP rises. At some point a serious rally does happen for the precious metal miners. Pull back is an opportunity to add to positions.
Stargate, what will happen to your bearish parallelogram if an RNS lands within the next few days announcing the first gold pour of the Mara Rosa project?
Sector pivot breakdown today and HOC, failed to retrieve higher pivot of 90.06 today. RSI (relative strength index), below 50 confirming an downtrend in HOC. Volatility based lower bollinger band, is at 81, providing a convenient bearish sp, target of 81 for HOC to fall down to. A bearish down trending parallelogram drawn from lower peaks and troughs reinforces the probability of HOC, sp falling. Fundamentals regarding the surprise increasing USA data, point towards interest rates staying higher for longer, so keeping the dollar higher for longer, not good for precious metal prices.
Took out initial buy at 89.16p. Can easily average down if silver support breaks, but has held quite well for most of today. Gold is not far away from more support lines in the $1970's spot per ounce.
Silver holding $22. If it breaks then goldilocks for the USA market is probably over. A market wide equity crash may begin to unfold.
$22 USD currently taking hits.
Adding my trim @106 back again @92, seems an ISA thing to do.
Working well though, anyone elsectrim yesterday? Great call.
Always keep a core here and trade to lower average. Great opportunities here.
Ps this range bound will end and my gu as is on the upside and then you won’t be able to buy back and will stop working
Mary even better sell Hoc and buy Cey whenever 10% above Cey. Sell The Cey and buy back Hoc whenever more than 2% below Cey. This one has been working for years
Mine is not to reason why, as there is no logic.
Add HOC 85 or lower and reduce around £1.06
Add FRES sub £5 and reduce towards or over £6
Rinse repeat as often as the levels allow.
Builds up a nice position, with a low average cost.
Not a recommendation of course,