Hochschild were recently noted as being on the lookout for acquisitions.....more.....
They have now announced a buy out of International Minerals and their 40% minority interest in two mines then spinning out a newco with cash in Nevada. STORY HERE
Hochschild's stock fell significantly.
Today's Market CAP of £GBP 520m for an experienced miner producing 20m oz pa silver and with growth plans to 30m oz pa by the end of 2014.
Clearly the stock is down 75% from peak levels. Profits have been hit hard by declining silver prices, and higher costs and lower volumes ! The profit reconciliation from the H1-13 results shows their issues.
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