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Last checked at 
28 Oct 2009 18:30
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28 October 2009Β
HochschildΒ purchasesΒ 14% ofΒ West Timmins Mining
Hochschild Mining plc ("Hochschild")Β has acquiredΒ a total ofΒ 19.9Β millionΒ commonΒ sharesΒ inΒ West Timmins Mining Inc. ("WTM")Β for aΒ total cash consideration ofΒ C$44Β millionΒ orΒ a weighted averageΒ priceΒ ofΒ C$2.2Β perΒ commonΒ share through several marketΒ transactions.Β
Today, Hochschild triggered a disclosure requirement in accordance with Canadian regulations following its purchase of 6.6 million common shares in WTM for a total cash consideration of C$15.8 million (or C$2.4 per common share). As a result, Hochschild now owns 14% of WTM.
Hochschild has acquired ownership and control overΒ WTM'sΒ commonΒ shares for investment purposes, and to acquire additional shares of Lake Shore Gold Corp.Β following theΒ business combinationΒ between Lake Shore Gold and WTM.Β Hochschild may acquire ownershipΒ ofΒ and controlΒ over, further commonΒ sharesΒ in WTM.Β
Enquiries:
Hochschild Mining plc
Isabel LΓΌtgendorf +44 (0)20 7907 2934
Head of Investor Relations
Finsbury
Robin Walker +44 (0)20 7251 3801
Public Relations
About Hochschild Mining plc:
Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L /Β HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over forty years' experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru, one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has numerous long-term prospects throughout theΒ Americas.Β
AboutΒ West Timmins Mining Inc:Β
WTM is focussed on the exploration and development of district-scale gold projects in the major gold camps ofΒ North America. West Timmins Mining is based inΒ Vancouver,Β British Columbia,Β CanadaΒ and trades on the Toronto Stock Exchange under the symbol WTM.
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