Patagonia Gold's Q3 2024 Financial Highlights
VANCOUVER, British Columbia — Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) has reported impressive financial results for the quarter ending September 30, 2024. The numbers reflect a steady rise in the Company’s operations and revenue, signalling a promising path forward for shareholders.
Key Financial Metrics
During the third quarter of 2024, Patagonia Gold reached a significant milestone, generating an impressive revenue of US$2.4 million. This achievement underscores the efficacy of their business strategies and operational execution.
Production and Sales Performance
In this quarter, the Company produced a total of 796 gold equivalent ounces, selling 955 ounces in total. This production feat not only highlights their operational capacity but also their ability to meet market demands effectively. The conversion of silver ounces to gold equivalents demonstrates a strong performance relative to market pricing.
Strategic Developments
Patagonia Gold continues to progress on several fronts. On November 6, the Company received the final permit required for the advancement of the Calcatreu project, a significant step toward enhancing their production capabilities.
Exploration and Acquisition Efforts
Exploration expenditures in Q3 totaled US$0.9 million, indicative of their commitment to unearthing additional resources. Furthermore, on October 9, Patagonia entered into a notable agreement with Compañía Inversora de Minas SAU, resulting in the acquisition of four mineral properties, thus consolidating the Mina Angela property block in Chubut.
Company Overview
Patagonia Gold Corp. is dedicated to the growth of shareholder value through the exploration and development of mining projects in South America, particularly in Argentina. Their primary focus lies in the Calcatreu project situated in Rio Negro and the development of the Cap-Oeste underground project. With rights to over 430 properties across various provinces of Argentina, Patagonia Gold stands as one of the largest landholders in Santa Cruz.
Contact Information
For any inquiries, please reach out to:
Christopher van Tienhoven,
Chief Executive Officer,
Patagonia Gold Corp.
T: +54 11 5278 6950
E: cvantienhoven@patagoniagold.com
Frequently Asked Questions
What were Patagonia Gold's revenue figures for Q3 2024?
The Company reported a revenue of US$2.4 million for Q3 2024.
How many gold equivalent ounces did Patagonia Gold produce in Q3 2024?
In Q3 2024, Patagonia Gold produced a total of 796 gold equivalent ounces.
What significant permit did Patagonia Gold receive in November 2024?
The Company received the final permit to advance with the construction and development of the Calcatreu project.
How much did Patagonia Gold invest in exploration during Q3 2024?
Patagonia Gold incurred exploration expenditures amounting to US$0.9 million in Q3 2024.
What strategic acquisition did Patagonia Gold make recently?
Patagonia entered into a definitive agreement with Compañía Inversora de Minas SAU to acquire four mineral properties and consolidate its Mina Angela property block.
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