Patagonia Gold moves closer to production

Patagonia Gold said it is closer to becoming a gold producer after another year of strong exploration activity in the year to 31 December.Losses attributable to shareholders were flat at £7.3m."Santa Cruz Province is a very active mining region and other companies operating there are also showing good results," the company said. "The gold price is strong and now testing the $1,500 per ounce level which makes our low cost projects more valuable."