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Hochschild Mining Posts Loss In H1; Interim Dividend Suspended - Quick Facts

Hochschild Mining plc (HOC.L) announced first-half 2013 pre-tax loss from continuing operations of $48.7 million, as against a profit of $92.26 million last year. Half-yearly loss attributable to equity shareholders of the company from continuing operations was $34.46 million, versus a $26.51 million profit a year before.

For the recent period, loss per ordinary share from continuing operations totaled $0.10, compared with an income of $0.08 in the 2012 period.

Revenue on continuing operations of $308.6 million for the six months, were lower than the prior-year figure of $354.5 million.

In first half of 2013, the company delivered attributable production of 9.7 million silver equivalent ounces, comprising 6.3 million ounces of silver and 57.9 thousand ounces of gold. Hochschild Mining said it remains on track to meet its full-year production target of 20.0 million attributable silver equivalent ounces.

In addition, the directors have not declared an interim dividend for the year 2013.

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