Patagonia Gold Corp (HGLD)

[NYBob]

https://patagoniagold.com/investors/news-releases/


https://patagoniagold.com/


June 15, 2020 7:07 PM

Patagonia Gold 2019 Financial Results and Update on Extension to File Q1 2020 Financial Statements and MD&A
VANCOUVER, British Columbia, June 15, 2020 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces its audited results for the fiscal year ended December 31, 2019 (“YE 2019”). The financial statements together with the management’s discussion and analysis (“MD&A”) are available on the Company’s website and on SEDAR at www.sedar.com.

Highlights

Revenue of US $21.9 million and gross profit of US $5.5 million in YE 2019.
In February 2019, the heap leach operations at Lomada and Cap Oeste were placed on care and maintenance.
Residual production at Cap Oeste of 7,796 ounces of gold and 237,727 ounces of silver and at Lomada of 3,969 ounces of gold.
Production at Martha of 232 ounces of gold and 65,620 ounces of silver.

Completion of the Reverse Takeover transaction with Hunt Mining Corp. on July 24, 2019.

At Calcatreu, the exploration program during 2019 was mostly focused on surface work, with a total of 41.28 line kilometers of Pole-Dipole geophysical surveying over the Nelson, Castro Norte, Fiero, Sabrina and Viuda de Castro areas, plus 121.5 line kilometers of gradient IP geophysics over Nelson, Sabrina and Mariano. An additional 1,687.2 km of ground magnetic surveying, covering 55.44sq km, were completed in the project covering several targets including V49 and Nelson.
Initiated a pre-feasibility study at Cap Oeste to assess the potential technical and economic extraction of the higher grade portion of the current mineral resources1.
Received the final approval closure plan for Lomada on November 2019 and started with the works of remediation in late 2019.