StockMarketWire.com - Precious metals miner Hochschild reported a fall in production in the second quarter of the year, as coronavirus-related disruptions weighed on output.

Second-quarter attributable production fell to 32,712 gold equivalent ounces from 120,860 gold equivalent ounces reported in the second quarter on-year.

Gold production fell to 25.17 koz in the second quarter from 84.18 koz on-year, while silver production declined to 1.48m ounces from 5.17m ounces.

Operations in the second quarter of the year was impacted by effects of the Covid-19 crisis and the consequent operational stoppage at all three of the company's mines.

'The Inmaculada and Pallancata mines were stopped for 11 weeks with operations at each mine resuming on 31 May and 1 June respectively whilst the San Jose operation in Argentina stopped for six weeks and resumed on 27 April with a phased ramp-up process,' the company said.

Average realisable precious metal prices in Q2 2020 were $1,826/ounce for gold and $19.8/ounce for silver, up from $1,346 per ounce for gold and $14.8 per ounce for silver.

'Due to the temporary suspension of Hochschild's Inmaculada mine in Peru, Hochschild is not providing revised 2020 guidance,' the company said.

At 8:10am: [LON:HOC] Hochschild Mining PLC share price was +1.2p at 191.4p



Story provided by StockMarketWire.com