Patagonia Gold Corp., a mining company focused on gold and silver projects in South America, has released its financial results for the third quarter of 2024, ending September 30. The report highlights several key achievements for the company during this period.
In Q3 2024, Patagonia Gold generated revenue amounting to US$2.4 million. The company produced 796 gold equivalent ounces and sold 955 gold equivalent ounces. Additionally, on November 6, Patagonia received the final permit needed to move forward with the construction and development of its Calcatreu project, which is a significant milestone for the company’s growth. Exploration expenditures for the quarter totaled US$0.9 million. Furthermore, on October 9, the company entered into a definitive agreement with Compañía Inversora de Minas SAU to acquire four mineral properties and consolidate its Mina Angela property block located in Chubut.
The breakdown of production included 526 gold ounces and 22,683 silver ounces, while sales consisted of 625 gold ounces and 27,109 silver ounces. The conversion ratio used for gold equivalent calculations was 82.49:1 for the quarter.
Donald J. Birak, an independent consulting geologist, has reviewed and approved the scientific and technical information shared in the announcement, demonstrating the company’s adherence to industry standards.
Patagonia Gold is focused on enhancing shareholder value through its diverse portfolio of mining properties in Argentina. Currently, the company holds mineral rights to over 430 properties across various provinces and boasts a strong presence in the province of Santa Cruz.
In conclusion, Patagonia Gold’s recent achievements and developments reflect a positive trajectory for the company, particularly with the advancement of the Calcatreu project and the strategic acquisition of additional properties. These steps not only bolster its resources but also position Patagonia for future growth in an important mining region. Overall, the company is optimistic about its ongoing projects and their potential to yield value for both shareholders and the broader community.
This publication showcases Patagonia Gold’s financial resilience and commitment to advancing its projects, which is promising for stakeholders looking for growth in the mining sector.