London-listed Hochschild has raised its production target from 38-million ounces to 38.5-million ounces of silver equivalent, following a record nine-month performance.
The miner, which operates three mines in Peru and one in Argentina, reported attributable nine-month production of 29.5-million ounces of silver equivalent, comprising 14.73-million ounces of silver and 199 939 oz of gold.
Attributable third-quarter output was 5.1-million ounces of silver and 62 432 oz of gold, or 9.7-million ounces of silver equivalent, with an increase in output driven by the ramp-up of production from the Pablo vein at Pallancata and a consistent performance at San Jose partially offsetting a scheduled period of lower output at Inmaculada.
The company has revised its all-in sustaining cost forecast for 2018 from a range of $960/oz to $990/oz of gold equivalent to $940/oz to $970/oz of gold equivalent ounces.
Total cash was about $143-million and net debt was about $63-million at September 30.