Patagonia Gold Corp. has released its financial results for the third quarter of 2024, revealing a revenue of $2.4 million. The company produced 796 gold equivalent ounces and sold 955 ounces during this period. A notable achievement for Patagonia is obtaining the final permit on November 6, allowing them to advance with the construction and development of the Calcatreu project. The company also invested $0.9 million in exploration during Q3 2024.
In an important strategic move, on October 9, Patagonia entered into a definitive agreement with Compañía Inversora de Minas SAU to acquire four mineral properties, thereby consolidating the Mina Angela property block in Chubut.
Patagonia Gold Corp. is committed to growing shareholder value through the exploration and development of gold and silver projects in Argentina’s Patagonia region, focusing primarily on the Calcatreu project in Rio Negro and the Cap-Oeste underground project. Currently, the company holds mineral rights to over 430 properties across several Argentine provinces, making it one of the largest landholders in Santa Cruz.
Looking ahead, the management is optimistic about advancing their projects and increasing shareholder value, despite the inherent risks and uncertainties involved in the mining industry.
Overall, the progress made by Patagonia Gold signifies a positive trajectory for the company, especially with the recent permit acquisition and continued exploration efforts, suggesting potential growth in the future as these projects advance.