VANCOUVER, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) — Patagonia Gold Corp. (“Patagonia” or the “Firm”) (TSXV: PGDC) declares its audited outcomes for the fiscal yr ended December 31, 2020 (“YE 2020”). The monetary statements along with the associated administration’s dialogue and evaluation (“MD&A”) can be found on the Firm’s web site and below the Firm’s profile on SEDAR at www.sedar.com.
Highlights
- Generated income of US$19.eight million and gross revenue of US$6.6 million in 2020.
- Produced 10,233 gold equal ounces (1) and bought 11,174 gold equal ounces (1).
- Obtained the provisional allow for the event of the Cap-Oeste gold/silver underground challenge.
- Transformed US $10.Zero million of debt to frequent shares at $0.30.
- Superior the Calcatreu environmental final analysis research and pre-feasibility work on schedule.
- Signed a definitive settlement to amass 100% curiosity within the Mina Angela Challenge positioned in Chubut Province, Argentina.
- Merged its wholly owned subsidiaries Patagonia Gold SA and Cerro Cazador SA into one authorized entity reaching value efficiencies.
(1) Gold equal ounces embrace 191,152 silver ounces produced, and 193,476 silver ounces bought transformed to a gold equal primarily based on a ratio of the common spot market value for the commodities every interval. The ratio for yr ended December 31, 2020 was 85.99:1 (2019 – 85.29:1).
Christopher van Tienhoven, CEO of the Firm commented: “Regardless of the COVID-19 pandemic that has impacted financial actions world wide, Patagonia has safely superior its improvement technique for exploration, improvement and mining operations in Argentina. With the completion of a $9.three million fairness financing and continued accumulation of treasured metals initiatives in South America, we imagine we’re nicely positioned to learn from Firm’s important asset portfolio.”
Certified Individual’s Assertion
Donald J. Birak, an unbiased geologist and Registered Member of SME and Fellow of AusIMM, is the certified particular person as outlined by Nationwide Instrument 43-101, has reviewed and permitted the scientific and technical content material of this information launch.
About Patagonia Gold
Patagonia Gold Corp. is a South America targeted, publicly traded mining firm listed on the TSX Enterprise Trade. The Firm seeks to develop shareholder worth by way of exploration and improvement of gold and silver initiatives within the Patagonia area of Argentina. The Firm is primarily targeted on the Calcatreu challenge in Rio Negro and the event of the Cap-Oeste underground challenge. Patagonia, not directly by way of its subsidiaries or below choice agreements, has mineral rights to over 420 properties in a number of provinces of Argentina and Chile and is among the largest landholders within the province of Santa Cruz, Argentina.
For extra info, please contact:
Dean Stuart
T: 403 617 7609
E: dean@boardmarker.net
Christopher van Tienhoven, Chief Govt Officer
Patagonia Gold Corp
T: +54 11 5278 6950
E: cvantienhoven@patagoniagold.com
FORWARD-LOOKING STATEMENTS
This information launch accommodates sure forward-looking statements, together with, however not restricted to, statements with respect to, amongst different issues, the anticipated enhance in curiosity within the Argentina mining sector, development and improvement of gold and silver initiatives within the Patagonia area of Argentina and the anticipated development in shareholder worth. Wherever potential, phrases comparable to “might”, “will”, “ought to”, “might”, “count on”, “plan”, “intend”, “anticipate”, “imagine”, “estimate”, “predict” or “potential” or the damaging or different variations of those phrases, or comparable phrases or phrases, have been used to establish these forward-looking statements. These statements mirror administration’s present beliefs and are primarily based on info at the moment accessible to administration as on the date hereof.
Ahead-looking statements contain important danger, uncertainties and assumptions. Many elements might trigger precise outcomes, efficiency or achievements to vary materially from the outcomes mentioned or implied within the forward-looking statements. These elements needs to be thought of fastidiously, and readers shouldn’t place undue reliance on the forward-looking statements. Though the forward-looking statements contained on this information launch are primarily based upon what administration believes to be affordable assumptions, the Firm can not guarantee readers that precise outcomes will likely be according to these forward-looking statements. These forward-looking statements are made as of the date of this information launch, and the Firm assumes no obligation to replace or revise them to mirror new occasions or circumstances, besides as required by legislation.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this information launch.
