November 08, 2006
Hochschild Gives A South American Boost To Londons Mining Sector


Quite a feather in Londons cap to have Hochschild Mining taking a full listing. At first glance Toronto or New York might have seemed a more logical destination, but the Sabanes-Oxley Act has meant that compliance requirements in North America have reached stratospheric levels and London looked more attractive, though a full listing on the LSE is certainly no walkover. Geographically, also, it has advantages as both JP Morgan Cazenove and Goldman Sachs International, the joint sponsors, joint global co-ordinators and joint bookrunners for the IPO are both based in London, as are Canaccord Adams the co-lead manager and Nomura International, the co-manager. The shares were placed at 350 p each to raise around 270 million from institutional investors in the UK, Europe, the US and Canada. On this basis its market capitalisation is just over 1 billion which takes it straight to 99th position in the FTSE 250 Index and makes it worthy of consideration by all types of investors.

The history of this Peruvian mining company is fascinating as it comprises the mining operations of the Hochschild Group which was founded in Chile in 1911 by Mauricio Hochschild. After World War 1 it expanded into Bolivia where the target was tin and it did not start its Peruvian operations until 1925. Even then it stuck to metal trading and beneficiation until the 1940s and during the 2nd World War the Group was a key supplier of tin and other metals to the allied forces. The next major advance came in the 1960s when the Arcata mine was developed in Peru and it is still in production today. Over the next ten years or so more mines were opened in Brazil, Peru and Chile such as the well known Mantos Blancos copper mine in Chile.

It is here that the history gets a bit complicated as in November 1984 Anglo American bought the South African mining operations of Hochschild Group and immediately sold the Peruvian operations to Luis Hochschild who is clearly a descendant of the founder, though the exact relationship is not clear. Anyway it is his son Eduardo who is now executive chairman of the company, having started as a safety assistant at Arcata in 1987 and working his way up to be boss of the company 12 years later. At the executive level he is supported by Roberto Danino as deputy chairman and Alberto Beeck which is director of strategy and corporate development.

The operations sold back to Luis became the basis of Hochschild Mining which then launched an aggressive expansion campaign in Peru as well as in Mexico, Argentina and Chile. In order to spread the financial risk joint ventures were agreed with other local and overseas mining partners to develop the San Jose, Pallacanta, Mina Moris and San Felipe projects. Hochschild Mining is now the fourth largest silver producer in the world with an output of around 10.5 million ounces plus just under 250,000 ounces of gold in 2005. In that year its cash costs of production amounted to US$2.65/oz for silver and US$169/oz for gold which puts it in the first quartile of the 2005 global cost curve for both metals.

Its specialisation is in epithermal vein deposits and it currently has three underground mines Arcata, Ares and Salene - in production in southern Peru. Next up are two advanced and two early stage development projects in Argentina, Mexico and Peru and then a swathe of prospects at various stages. The overall strategy is to bring a sequence of these projects into production and the aim is to push towards annual production of 50 million silver equivalent ounces, or 830,000 gold equivalent ounces if preferred, by 2011. This is quite an uplift from the 2005 figures, but Hochschild is not the sort of company which would risk undershooting a declared target, so it may err on the conservative side.





Powered by IST's

This is an excellent stock in my opinion also benefitting from being fully ISA/Pepable. I expect to see substantial moves higher and it is highly profitable.

The Independent


The mining sector has been on fire since 2004. But there are some pockets of value left and given global political tension, the precious metals end of the market is particularly attractive. Hochschild Mining is a low-cost producer because it follows seams of silver, rather than proving reserves before starting. The shares trade on 10 times forecast 2009 earnings so investors with a healthy appetite for risk should, within reason, ignore the lack of liquidity. Buy

Also think this has been tipped in the Momentum Investor recently, if anyone can confirm?

Bucking the trend with another 5% rise so far today. Anyone else in on this?

Rising nicely in the turbulence. Details of Q3 results from their website below:-

http://www.hochschildmining.com/press/HOC_Production_Report_Q307_Final.pdf

unquestionably a stunning performance in a grim market .... and it's a decent sized company too!

Well I'm glad you had a look Cynic! Very profitable and running low cost mines. I have this one nicely wrapped away in the ISA, hopefully as a long term hold. It reminds me of POG a few years ago and therefore I find the potential here quite exciting. Cash generative too.

certainly one worth watching, though arguably only about 50p upside before it runs into quite heavy resistance at all-time high point.

though HOC is heavily silver biased and POG is gold, the latter may have further to run in the immediate future, as it has been hit quite hard and without cause in the latest shambles

Drilling taking place in Azuca in Peru, Gonzalito and Claudia in Argentina. An update is expected by year end.

Another very good start to the day here.

Back to start testing the highs probably today at this rate. I suspect mining updates and possible further acquisitions are not too far away.

Citigroup have buy rec out today, target 535p

will be interesting to see what happens next

It will, 535p target is hardly sticking your neck out, the way this moves around. I've read about some dramatic profit increases in the next couple of years. It would be nice to pick up a good 5 year stock to hold, with the characteristics of RIO, POG...I'm overdue one!! And I don't mean something like Sola that's up 400% and gives us a rocky ride.

don't knock SOLA .... i think it must be the only stock where i have consistently made money either on long or short tack ...... and you think POG isn't a roller coaster? ..... look at their chart!

That's so true, likewise!

New closing highs today. With gold and silver up over 2.3% right now and a nice inverted head and shoulders pattern, we could look to see a break over 500p next week.

closing all-time high looks to have been 504 on 7/11/07

Take it back you're quite right.

Strong gold today so looks good for a break here today. Not yet got much of a following but I think that will change gradually.

surely this is primarily a silver play, even though HOC have some gold interests ..... from a chart point of view, sp has challenged all-time high of 504 but fallen off each time .... you could argue either that next time it will push straight through, or that it is relatively too high and needs to consolidate further

You are right of course from a charting perspective, although a nice inverted head and shoulders now could well indicate a break. The reasons I see this going substanially higher is that Moris, Pallancata and San Jose mines should ramp up in Q407. They are also sitting on substantial cash which will be used for further acquisitions before too long. The market of course may see things differently.

I took the opportunity earlier to top up while we were off 20p. I don't see this generally going much lower and whilst we're currently seeing a stronger dollar/weaker gold/silver, I still think it's only a correction. Pretty soon we'll be back to selling the dollar and in volatile December markets I expect to see EUR/USD 1.50, cable 1.10+ and gold $850 etc...

http://biz.yahoo.com/iw/071129/0333716.html

Inmaculada joint venture project commences drilling in Peru


Ventura Gold Commences Drilling at Inmaculada Gold Project in Peru
Thursday November 29, 8:00 am ET


SCOTTSDALE, AZ--(MARKET WIRE)--Nov 29, 2007 -- Ventura Gold Corp. (CDNX:VGO.V - News) (the "Company") has commenced a core drilling program at the Inmaculada gold-silver project in Southern Peru. The Inmaculada Project is a joint venture with Compaa Minera Ares S.A.C., a wholly owned subsidiary of Hochschild Mining PLC ("Hochschild"). The terms of the joint venture agreement, under which the Company can acquire up to a 70% interest, were outlined in a news release dated February 22, 2007.
Source: Ventura Gold Corp


(click to enlarge)
Appendix: Inmaculada Project -- Quellopata Area Drill Location Map



The Company plans to complete a total program of 3,000 meters drilled by early January 2008.The Inmaculada property contains three principal target areas, which were identified by Hochschild during previous exploration campaigns (see attached map).

Quellopata -- hosting over 25km of gold/silver-bearing quartz veins of the low-sulfidation type. Hochschild reported positive drill results from their drilling campaign, which comprised 31 drill holes totaling 7,188m. Drill assay results from five different veins included intercepts of 3.6m at 6.7 g/t gold and 63 g/t silver, 2.1m at 8.1 g/t gold and 151 g/t silver, and 1.5m at 5.9 g/t gold and 272 g/t silver.

Minascucho-San Salvador -- hosting mineralized breccias of the high-sulfidation type. Hochschild's drilling results were positive for this zone, with one of two drill holes (total 440m of drilling) which tested the area reporting a 40m intercept at an average grade of 1.9 g/t gold and 20 g/t silver.

Tararunqui -- hosting disseminated mineralization of the high sulfidation type. Hochschild drilled 11 holes totaling 1,479m in two widely separated portions of the mineralized zone. In one of these areas, three holes were drilled which returned anomalous but sub-economic gold values (in the 100-600 ppb gold range). Much of the mineralized system remains to be tested.

The current drill campaign will focus on the Quellopata target area. Eleven drill holes totaling 3,000 meters will be drilled to test the Martha, Roxana/Angela and Shakira veins at depths of up to 350 meters below surface (see attached map).

Sample preparation and analytical work for Ventura's drilling program will be carried out by SGS in Lima, Peru using industry-standard sampling practices and analytical methods for silver and gold. Ventura's drilling program will be supervised by Qualified Person, Ventura Exploration Manager, Mark Cannuli.

Ventura Gold Corp. is a United States-based precious metals exploration and development company with a business plan to a) acquire, evaluate and develop high-grade, low-cost gold-silver and base-metal deposits with a view to establishing strategic alliances and/or joint ventures with larger companies, and b) acquire strategic investments and/or alliances with pre-IPO exploration companies and listed junior companies where Ventura believes those companies and management have the resources and expertise to optimize the potential value of their asset bases. In addition to exploration projects in Peru, Arizona and Nevada, Ventura has over $1 million in strategic investments in emerging exploration companies with exposure to projects in Mexico, China, Africa and Ecuador.

Neither Hochschild Mining plc nor any of its subsidiaries accept any responsibility for the adequacy or inadequacy of the disclosure made in this news release and any such responsibility is hereby disclaimed in all respects.

The TSX Venture Exchange neither approves nor disapproves the information contained in this News Release.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=636954

http://www.newswire.ca/en/releases/archive/November2007/26/c4494.html


Minera Andes announces the San Jose mine increases silver and gold mineral reserves by 100 percent
< <
TSX: MAI NASD-OTCBB: MNEAF
>>

SPOKANE, WA, Nov. 26 /CNW/ - Minera Andes Inc. (TSX: MAI and US OTC:
MNEAF) is pleased to announce results of a NI 43-101 Technical Report to be
filed that includes new mineral resources identified from 2007 exploration
drilling, underground development and conversion of 2006 mineral resources
into mineral reserves at the San Josproject in Santa Cruz province, southern
Argentina. In addition the report also quantifies areas of mineral potential
based on drilling. The San Josmining operation is expected to reach full
production of 750 tonnes per day (t/d) by year-end and the process plant in
commissioning is forecast by Minera Andes to reach full capacity in first half
of 2008. The San Josproject is operated by Minera Santa Cruz S.A. ("MSC")
(owned 51% by Hochschild Mining plc ("Hochschild") (HOC.L Reuters, HOC.LN
Bloomberg, London Stock Exchange) and 49% by Minera Andes).
Some highlights of the new Technical Report by AMEC Americas Limited
(AMEC) are as follows (all amounts are expressed in U.S. dollars, unless
otherwise indicated):

< <
- Proven and Probable Mineral Reserves: at June 30, 2007 are:
2.4 million tonnes grading 6.79 g/t gold and 430 g/t silver. The
economic cutoff used to calculate the reserves is $94/t (using a price
of $500 for gold and $9.00 for silver and taking into account
metallurgical recoveries).
- Gold contained: 521,000 ounces of Proven and Probable Mineral Reserves
- Silver contained: 38 million ounces of Proven and Probable Mineral
Reserves
- Production: 750 t/day at full production mining rate
- Forecast average operating costs of: $3.92 per ounce silver equivalent
- Mine life increased from 5.2 yrs to 9 yrs
- Forecast average gold production: 64,000 ounces per year at full
production
- Forecast average silver production: 3.9 million ounces per year at
full production
- Mineral potential was estimated for three targets to total:
1.6-3.4 million tonnes, with 6-10 g/t gold and 200-600 g/t silver
>>

The new Technical Report by AMEC entitled "San JosProperty San Cruz
Province, Argentina NI 43-101 Technical Report", was authored by Pierre Rocque
(P. Eng.), William Colquhoun (FSAIMM), Emmanuel Henry MAusIMM (C.P.), and
Armando Simon, R.P. Geol., AIG, appropriately qualified persons according to
NI 43-101. The results from the new report indicate that the 2006 core
drilling program (128 holes totaling 22,047 meters) and 2007 development and
drilling on the Kospi and Frea veins at San Josincreased silver and gold
reserves by 100% (on a tonnage basis) from the level announced in the our
September 2007 Technical Report. Work at San Josin 2007 has increased the
mineral resources and mineral reserves from a 38,000-meter exploration
drilling campaign currently underway, and development of the underground
workings. We expect further increases in the mineral reserves and mineral
resources from these programs. At the current mining production rate of
750 t/d the new mineral reserves that include the Kospi vein indicate a mine
life of 9 years at San Jos an increase of 73 percent over the existing mine
life of 5.2 years.
Allen Ambrose, president of Minera Andes, said "Even with the new
drilling, less than 15% of the known 40 kilometers of the vein trends at San
Joshave been drilled. The drilling in 2006-2007 has increased the mine's
mineral reserves by 100% (on a tonnage basis). The joint venture is drilling
38,000 meters in the current exploration program to define new mineral
reserves and continue evaluating new targets. With commissioning of the mine
and the ramping up of production it is an exciting time for Minera Andes. Now
we are developing the mineral reserves to support the plans of MSC to double
production to 1,500 t/d. The mineral potential estimates on drilled targets
further highlights the potential to increase the mineral reserves."

Mineral Potential

The new Technical Report also estimates the mineral potential at San Josbased on drilling outside the existing mineral reserves/resources. Mineral
potential was estimated using long section based blocks with 2 to 8 drill
holes per target for the Odin, Aylen, and Frea extension targets. The mineral
potential for these targets based on the current drilling is estimated to
total 1.6 to 3.4 million tonnes ranging from 6 to 10 g/t gold and 200 to
600 g/t silver.
The estimation used a conventional method, based on the interpretation of
mineralized blocks on vertical longitudinal sections, the calculation of block
areas, average horizontal widths and weighted average grades of the
mineralized intersections, and the subsequent calculation of block tonnages
and weighted average grades.
AMEC's estimation has also considered the following procedures and
assumptions:
< <
- For Ayel and Odin, AMEC used the composite vein true thicknesses and
grades provided by Minera Andes. Composite grades were capped at
10 g/t Au and 500 g/t Ag.
- For Frea, AMEC used the individual sample lengths and assays.
Individual assays were capped at 25 g/t Au and 1,000 g/t Ag. In such
cases where splits were present in the proximity of the main vein
(less than 10 m along the hole), the estimation considered the
combined thickness and weighted average grade of the split and the
vein. Splits located at greater distances were not included in the
estimation.
- For the estimation of horizontal thicknesses, AMEC assumed that all
veins dip 70 degrees, and that all holes were drilled with 50 degrees
dip.
- Whenever necessary, horizontal thicknesses were diluted to 1 m minimum
mining width.
- AMEC considered a 2.65 t/m(3) bulk density.
>>

It should be emphasized that this estimation is conceptual in nature,
that there has been insufficient exploration to define a mineral resource, and
that it is uncertain if further exploration will result in the target being
delineated as a mineral resource.

Looking better again here again, some late gains coming in.

Silver putting in quite a strong performance today, up 1.6% breaking above $14.50. Uptrend looks firmly intact and I see HOC benefitting.

HOC takes an additional stake in Exmin, increasing stake to just short of 20%.

HOC sp has tumbled recently, but if you scroll up to the chart in the header you will note the encouraging support of 25 dma

Yes had seen that thanks. It does move sharply up and down but think they'll be adding some nice niche acquisitions in due course. Both silver and gold had a further turnaround yesterday. Greater volatility to come in the next 3 weeks too.

charts are a bit iffy for HOC anyway because it is so illiquid and thus volatile ..... good to see POG doing its bit at last, albeit without much impetus

Yes very illiquid. HOC's investment in Exmin is more a gold play in Mexico so indirectly starts to be bit more of a gold play (though still silver is the main business).

Silver showing bullish gains this afternoon and the graph looks positive to retest highs. Not yet influencing the share price!

Now we appear to be off. Dollar getting sold strongly. Gold and silver rising sharply. Equities to gain strongly on the Dow open I suspect

Nice gains coming through today with silver and gold continuing their run higher.

Would be good to see gradual rise to nearer 500p for nice inverted head and shoulders. HOC sitting on a lot of cash so I expect further silver/gold acquisitions to come.

Would be good to see gradual rise to nearer 500p for nice inverted head and shoulders. HOC sitting on a lot of cash so I expect further silver/gold acquisitions to come.

Disappointing outlook for Ares/Selene in 2008. That said they are sitting on substantial cash so hopefully the future strategy remains intact.

horrid .... may well get out

I wanted to hold for medium term; looks like I'll have to! I wonder now to what extent it's overdone only for the big boys to make some quick bucks on a correction.

Some info:

"It looks like they are attempting to curb some of the more bullish market earnings forecasts" Damien Hackett, an analyst at Canaccord Adams Ltd in London, said today by telephone. "The reaction seems a bit excessive as we were already looking for higher depreciation charges."

The company's 2008 net income will be $150m according to mediun of 4 estimates compiled by Bloomberg. That's 69% higher than the $93m profit forecast for 2007.

Goldman have come out today with price target of 425p - neutral/attractive.

well i have dumped mine ..... it was HOC who came out with the profit warning and no one else ..... experience shows that bad news follows bad news ..... sounds like an attempt at damage limitation for their clients by Canaccord and Goldman

Maybe.

Luckily not in this one, but could have been, hope you guys live to fight another day, see you on other threads.

I've been out a couple of weeks, but see we continue to head back from early Jan falls. The Lake Shore gold alliance also looks very encouraging for the business.

Very robust rise in silver taking us over $19. That should underpin the share price here now.

On our way back to 500p highs now I'd have thought.

.

Poor management, increasing production at the wrong time would only sees its shares go down further. SELL at 135p.

Latin American silver and gold producer Hochschild Mining Plc posted a 2 percent rise in attributable third-quarter output on Wednesday and said it was on track to meet its full-year target, boosting its shares.

justyi, good call for selling at 135p. It is at 98p now

New article, click HERE

BROKER NEWS UBS raises Hochschild Mining from neutral to buy, target price up at 195p from 100p
M AM

METALS STOCKS
Gold rises on speculation plans may boost inflation

By Moming Zhou, MarketWatch
Last update: 12:08 p.m. EST Feb. 10, 2009

http://www.marketwatch.com/news/story/gold-rises-above-900-inflation/story.aspx?guid=%7BF3C150DB%2DFE21%2D4F99%2D9B2B%2DEA0E05672D03%7D&dist=news

http://www.marketwatch.com/news/story/gold-rises-above-900-inflation/story.aspx?guid=%7BF3C150DB%2DFE21%2D4F99%2D9B2B%2DEA0E05672D03%7D&dist=news

Broker update yesterday buy...

Hochschild Mining PLC

FORECASTS
2008 2009

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
10-02-09 BUY 126.55 20.66 5.06 76.26 11.44
5.06

Canaccord Adams
19-12-08 BUY 19.60 5.41 31.09 6.08

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 126.55 20.21 5.21 76.26 19.81 5.50
1 Month Change 1.97 0.06 0.24 -18.63 -3.13 0.20
3 Month Change 7.56 1.11 -0.01 -4.30 7.67 -0.17


GROWTH
2007 (A) 2008 (E) 2009 (E)

Norm. EPS 37.35% 47.97% -1.98%
DPS % 277.54% 5.57%

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)

EBITDA 65.75m 173.73m 148.23m

EBIT 53.19m m m

Dividend Yield 0.88% 3.32% 3.51%

Dividend Cover 9.90x 3.88x 3.60x

PER 11.48x 7.76x 7.91x

PEG 0.31f 0.16f -4.00f

Net Asset Value PS 91.26p p p

http://www.moneyweek.com/investments/precious-metals-and-gems/the-best-asset-class-for-the-next-few-years-gold-miners-14616.aspx


By Dominic Frisby Feb 11, 2009

Put your faith in gold miners

surely HOC is not a gold mining company at all

cynic how do they manage to produce gold then? Read their accounts.

unlike many, i don't mind owning up if i am in the wrong ..... this is not a stock i have followed for a long time, but GF asked me to have a look ... i was under the impression that HOC was predominantly into silver

I think our favourite Guru had a senior moment! ;o)
From HOC web page intro:
"Hochschild Mining is a leading underground precious metals producer operating in the Americas with a primary focus on silver and gold."

not really .... just a lazy dopehead!

LOL, who cares as long as we are going upwards........NICE.

METALS STOCKS

Gold rises to near $930 as safety buying continues

By Moming Zhou, MarketWatch
Last update: 9:43 a.m. EST Feb. 11, 2009

Gold futures rose Wednesday for a second session, climbing near $930 an ounce to the highest level in nearly two weeks as investors continued to buy the metal amid doubts on new economic rescue plans unveiled in the U.S.
Gold for February delivery was last up $11.30, or 1.2%, at $925 an ounce on the Comex division of the New York Mercantile Exchange. It rose to $929 earlier, the loftiest intraday level since Jan. 30. Trading more actively, the April contract rose 1.3% to $926 an ounce.

Gold gained more than 2% in the previous session after the Treasury Secretary Timothy Geithner introduced a new plan to rescue the ailing banking sector. The Senate also passed an $838 billion stimulus package Tuesday by a 61-37 vote.

Markets, however, cast doubts on the plans. Stocks and crude oil prices tumbled, while safe haven buying pushed up gold and Treasury securities, as well as the U.S. dollar.
It's the "flight to safety, pure and simple," said Jon Nadler, senior analyst at Kitco Bullion Dealers.
Crude oil rebounded Wednesday, recouping part of Tuesday's losses, while U.S. stock futures were flat as unease continued over the lack of details surrounding the Treasury's plan.

If gold breaks the $930 mark, it could rise to as high as $950 an ounce in the short term, said Ashraf Laidi, chief market strategist at London-based CMC Markets. Most analysts are projecting gold to rise above $1,000 this year, as safe-haven buying and demand for gold as a hedge against inflation are expected to continue.

Holdings of SPDR Gold Trust, the largest exchange-traded fund backed by gold, hit a new record high of 894.72 tons as of Tuesday, up 1.5% from a day earlier, according to the latest data from the fund. The total was higher than that reported a month earlier by a margin of nearly 110 tons, or 14%.
Other metals were mixed Tuesday. March copper slid 2.9% to $1.53 a pound, while March silver rose 1% to $13.255 an ounce. March palladium gained 0.5% to $213.15 an ounce, and the April contract for sister metal platinum added 2% to $1,056 an ounce.
Moming Zhou is a MarketWatch reporter based in New York.

Positive..

http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20090211\ACQRTT200902111557RTTRADERUSEQUITY_1230.htm&selected=9999&selecteddisplaysymbol=9999&StoryTargetFrame=_top&mkt=WORLD&chk=unchecked〈=&link=&headlinereturnpage=http://www.international.nasd

bought a few this morning ... would have been more, but somewhat self-immolated with nymex yesterday

Well done, good to have you onboard cyners.

Hochschild Mining PLC

FORECASTS WIRES
2008 2009
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
10-02-09 BUY 126.55 20.66 5.06 76.26 11.44 5.06

Canaccord Adams
19-12-08 BUY 19.60 5.41 31.09 6.08

Earnings per share of 20p concensus would put the stock on circa of 8.5 P/E for 2008 results, far too cheap imho.

Should be at least double that and I can only conclude the stock is way undervalued.

Excelent article here for a bullish read on gold...

The prospects for $1,200-1,300 gold by the end of Q3 remain underpinned by a set of cogent fundamental variables involving currencies, interest rates and the global economy. Meanwhile, even as the divergence between gold and oil begins to fade, any oil-friendly dynamics are seen as a positive for gold's luster

http://seekingalpha.com/article/120130-oil-gold-ratio-surges

Recognia software as used by Institutions is now flagging up a BUY signal and a target price of 250p to 271p.

Event Date: 09 Feb 2009
Opportunity Type: Intermediate-Term Bullish
Close Price: 165.00
Target Price Range: 250.00 - 271.00

Price Period: Daily
Volume: 205,790
Pattern Duration: 85 days
Inbound Trend Duration: 88 days


https://site.recognia.com/interactiveinvestor/serve.shtml?page=chart&event_id=UKvskmAAdTWQAOgABAACAAABYCRg&instrument_type=S&symbol=HOCM.L&exchange=LONDON&ref=chart_eid&sid=492537475

And I can say that during the period sept 2008 to present they have been VERY accurate with there forecasts.

bought just a modest number at 171 ..... greed tempts me to top up, but sp already 195

You should have made a bob or two then Cyners.

I reckon theres broker upgrades to come and very soon.

Its been a lot higher than this earlier in the year.

Talking about Gold....noticed that quite a few producers,minors,and explorers rose today...!.

Hochschild Mining extends deadline of Minera Andes offer - Update
precious metal company Hochschild Mining PLC said it agreed to extend the deadline of its proposals to the board of Minera Andes Inc., or MAI to purchase either the whole company or 49% stake in Minera Santa Cruz, the joint venture company of Hochschild and MAI. The terms of the extended offer remains unchanged.
The company said that the offer is now open for acceptance until 10pm GMT on 13 February 2009.

10 oclock it is then.

Just wondering what the sp action will be if they get rejected. Then again if they arent?.

Boyo .... so why no announcement? .... i'm sure you must have the CEO-sec's inside leg measurement and thus should know these things!

have decided to bank my profit (thanks GF!) on the basis that delayed news is never good news

(Cyners tipped by that chap who gave us the hunting winner. Evils sidekick))

Every Cloud Has a Silver Lining Argues Lucian Miers, the Bard of the Boleyn
Buy Hochschild Mining (HOC) at 200p

If you believe, as I do that the recovery in the silver price will continue, then Hochschild represents an excellent opportunity to benefit. The company mines silver and to a lesser extent gold in South America and is profitable and growing fast. By coincidence its share price has until recently mirrored that of Fresnillo the worlds largest silver producer. Both collapsed from last years 500p to around 80p in December and then started to rally. Fresnillo, however, has now reached around 400p while HOC is available at 200p. I expect it to reach 300p in short order.

I attach a table of my Sharecrazy tips and would like to provide a brief update for those who followed them:

London Asia Private Equity Fund(LCP) now known as China Growth(yes Growth)(COGP) has collapsed as predicted and I would buy back for a 88% profit
Meldex (MDX) is a zero. Buy back off the shareholder register for 1p for a 99% profit
Rightmove (RMV) (down 32%) in my opinion has further to fall: stay short
Manganeze Bronze (MGNS) has fallen 80% and I would close at 72p for a healthy profit.
Sainsbury (SBRY) is up 35% and I would hold for further gains.
Capital and regional (CAL) has fallen 70% I would stay short.
Severfield Rowen (SFR) has fallen 2% since I tipped it as a buy. I would still hold but put a stop loss in at 140p
Aero Inventory (AI.) has risen 3% since I tipped it as a buy and I would sell it as its recent announcement seems inconsistent with its stated business model and makes me nervous. (I hope to update on this one soon)
Hunting(HTG) has risen 13% since I tipped it as a buy and I predict has much further to rise.
Big Yellow Group (BGY) down 5% remains a short.
Pursuit Dynamics(PDX) down 14% has much further to fall.
Climate Exchange (CLE) down 28% remains ludicrously over valued and still represents excellent value on the short tack.
New Star Asset Management (NSAM) halved as predicted and can be bought back at sub 2p.
As you can see from this I am a very clever chap. Indeed one might say that the former apprentice to Londons most boastful bear now has a right to be rather boastful in how own right. But unlike Evil I am a modest man, though with little to be modest about. So I suggest that you tuck away a few Hothschild and if you are grateful send a case of lager over to the Newham penthouse.

The bard of the Boleyn, Lucian Miers is East Londons most infamous short seller

Posted by Lucian Miers on Fri Feb 13, 04:27 PM in Comment

Comment

thanks GF, but am happy to be out for the moment until the result of t/o is known .... as i said, delayed announcements are never good news

PRECIOUS-Gold strikes 7-mth high as funds buy, ETF at record
Tue Feb 17, 2009 2:13am EST

http://www.reuters.com/article/goldMktRpt/idUST34487720090217

Just posted by pro TAer Zak Mir:

Zak Mir



Reged: 28/06/07
Posts: 643
Re: HOCHSCHILD MINING (HOC)- Bad Day-but opportun
#439779 - 17/02/09 08:37 AM Edit Reply Quote



A great looking U shaped charting recovery since December, and while the stock remains above the initial September support at 200p the upside here should be to the last intraday high of that month at 334p.

http://seekingalpha.com/article/120796-will-silver-now-outperform-gold

Will Silver Now Outperform Gold? 14 comments
by: Peter Cooper February 16, 2009 | about stocks: GLD / IAU / SLV

"However, there has been plenty of evidence recently to suggest that the control of the spot price of silver by the futures market is about to break down. And when that happens silver prices will go to the moon".

This will have been a tremendous CFD for some people...danger is of a temporary drop followed by a sharp recovery in the event of non acceptance (see latest RNS)....otherwise 3 here we come (I think) !.

Think the takeover offer was cheeky and half hearted IMHO RF.

anyway....









http://seekingalpha.com/article/120862-don-t-kick-yourself-later-for-not-buying-gold-and-silver-now?source=article_lb_articles

Don't Kick Yourself Later for Not Buying Gold and Silver Now 2
by: Peter Cooper February 17, 2009

Gold is powering up towards $1,000 an ounce, and while the odd hesitation along the way is possible it will shortly cross this boundary, hit a new all-time high and then head upwards again.

A trend is your friend, especially if you take advantage of it. For gold the question is how best to leverage the up trend.

Gold and silver stocks are the answer. Conveniently precious metal stocks got really thrashed last autumn - along with gold and silver and every other asset class except bonds. So they are dirt cheap.

Rising prices

But will gold and silver equities not fall again if global stock markets tank, as they surely must with profit forecasts for the non-financials still ludicrously optimistic (face facts, for many major companies there will be losses and not profits in 2009)?

No they will not if precious metal prices are rising - and not falling as they did last autumn. And why will gold and silver prices keep on rising this time?

Well, investors are now very worried about bonds and currency rates, and that leaves gold and silver as the last safe haven in the investment universe. If there is only one investment class left to buy that ought to simplify things for investors.

Rising profits

Gold and silver producers are also big beneficiaries of falling energy prices this year, as up to a quarter of production costs go on energy. In addition, most mines are in non-dollar economies, so manufacturers have costs in depreciated currencies and income in the strong dollar.

That means that even if precious metal prices stagnate - and that looks highly unlikely - gold and silver producers are among the only commodity producers that will see profits jump in 2009.

My blog contains many articles on gold and silver which can point you towards some of the better, and riskier equity investments in this sector, and taking a risk in a rising market usually pays off handsomely.

The people who will be kicking themselves later in the year will be those who do not buy gold and silver stocks now.

This reminds me of my warning to those who did not buy Dubai property when they first had the chance, and even after a 50 per cent fall in house prices they are still 300 per cent up on their original investment!

http://seekingalpha.com/article/120907-bullish-long-term-outlook-for-gold

Thanks GF, HOC still in the rising trend !.

If this carries on to 3, I shall have to open a bottle of hock....german wine....very nice !.

do you like the modern trend of the germans making trocken? ..... personally i hate it, though to find traditionally made is not so easy ..... Berry Bros certainly used to carry a very good range and the auctions are a good source, especially if you can split the batch

Euhhhh !, not sure cynic,..... offer withdrawn...sp not affected !.

prob good new for HOC, but hard to know if price has been supported behind the scenes to make the offer look more attractive

Cyners. youl be sorryyyyyyyyyyyyyyyyyyyy.

maybe ..... certainly no bad thing that HOC did not get the deal, but gold is likely to have a pullback after its recent heady run, and with it HOC and similar .... shall continue to monitor, even when in Dubai on biz for the next week .... eat your heart out - lol!

Doing fine at the moment....I'm still in.

loads err money RF.

Missing out here cyners, dont say i didnt tell you.

loads err money.

Looks like someones tipped them ????.

get thee behind me Satan!

A $1000 an ounce soon....and after a morning tree shake, now a climb = 250p...wooosshhh !.

satan here satan....

comment from Zak Mir pro TAer this morning.

Zak Mir



Reged: 28/06/07
Posts: 652
Re: HOCHSCHILD MINING (HOC)- Bad Day-but opportun
#440004 - 20/02/09 07:57 AM Edit Reply Quote



Above the stock's 10 day moving average now at 192p it seems it should hit the old September high of 334p.

piss off you old tart - lol! ..... bt you weren't quite so chirpy earlier in the day!

Cynic, when you are in Dubai, take a good look around; is it a dying god?

Cyners loads err money.

Looks like you left the party way too early.

Think theres quite a bit left in aswell. Using daily bets to hedge my risk.

Certainly looks like there s been a slow drip out of fresnillo into this one as the rating is lower. FRES at around P/E of 21 looks a bit topy in comparison.

Expecting much of the same next week to around 330p old september high.

ps, it tends to fall away in the morning and come to life after 12.30.

dubai ..... certainly it's got some pretty serious probs at the moment, but in due course it will come around and no doubt fulfil its dream of being the commercial capital of M/E ..... but don't ever buy (residential) property here!

Great week for this stock ......hey ! Cynic !....just come out of that Dubai gold market....you'll affect the prices, and then on second thoughts no !, just go ahead and snap up some the yellow stuff...it'll make the price go higher...yummy !.

Silver and Gold but predominately silver

Quite a Sterling performance over the past few months if you'll pardon the pun!

Entered again long on weakness late morning 259p.

Still think in the medium term 300p and above is on the cards

Feb 23 2009 10:08AM

Silver Is Again Outperforming Gold

http://www.kitco.com/ind/Turk/turk_feb232009.html

Suprised its been so negative today, Investec gave it a Buy late yesterday..

Hochschild Mining PLC

FORECASTS
2008 2009
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
23-02-09 BUY 126.55 20.66 5.06 76.26 11.44 5.06

I expect the fact that the price has done nothing but rise from 160 must be the main reason for 10% fall

yep the slope on the chart is rather extreme.

Looks like buyers coming back in though in strength.

Still expect it to go through 300p medium term.

DOW dropping like a lead weight silver sp rising fast.

25/2/2009
Broker Snaps

Mining

Hochschild Mining UBS increased its target price from 195p to 270p.

Fresnillo UBS has - increased its target price from 395p to 480p.

Hochschild Mining PLC

FORECASTS
2008 2009

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
23-02-09 BUY 126.55 20.66 5.06 76.26 11.44 5.06

Canaccord Adams
19-12-08 BUY 19.60 5.41 31.09 6.08

2008 2009

Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 126.55 20.21 5.21 76.26 19.72 5.49
1 Month Change 0.00 0.01 -0.00 0.00 -0.25 -0.01
3 Month Change 28.02 0.06 -0.30 27.54 4.53 -0.14


GROWTH
2007 (A) 2008 (E) 2009 (E)

Norm. EPS 37.35% 47.99% -2.43%
DPS % 277.25% 5.47%

INVESTMENT RATIOS

2007 (A) 2008 (E) 2009 (E)

EBITDA 65.75m 173.65m 147.85m
EBIT 53.19m m m
Dividend Yield 0.55% 2.08% 2.20%
Dividend Cover 9.90x 3.88x 3.59x
PER 18.30x 12.37x 12.68x
PEG 0.49f 0.26f -5.21f
Net Asset Value PS 91.26p p p

you left out a bit .... HOC downgraded by UBS though target price increased .... good political statement from them!

Dont agree see this cynic...

UBS: Will Silver Outperform Gold?

by: FP Trading Desk February 25, 2009

http://seekingalpha.com/article/122511-ubs-will-silver-outperform-gold

i wasn't guessing .... UBS have downgraded HOC to neutral from buy

Gf, for every article you post, there is a contrary article somewhere else.
Ironically a 'Contra Gold' article appears on the same website:
http://seekingalpha.com/article/122537-gold-correction-now-more-likely-than-not?source=article_lb_articles
Tricky one to call at the moment (Gold/silver), but beware of being steamrollered by your own enthusiasm.

Thanks for the cautionary word Harry.

Got a hedge in Banks in place so risk is limited...... well hopefully.

You cant talk down what you see before your very own eyes though.

Dow was tanking fast this afternoon, silver and gold pulled off lows and started to really accelerate and I mean accelerate upwards.

I had both life charts up along with the DOW.

God knows where we are going from here.

regards.

Hi Harry again,

after the heat of the day and now having had time to digest your post above.. 118.

Do you not feel it would have been far better for you to post a life link???????????.

Im all for both Bull and Bear persuations (and free speech) but your response gives the impression of half - heartedness, in fact some would say its robbing them of the whole picture re- Bull/Bear debate on the future price of Silver and the related direction of the markets going forward.

Im sure this is not due to idleness on your part but a fuller contra view posted by your goodself would be much appreciated Im sure In future by myself and other posters.

regards

GF.

GF For what it is worth,what you say makes good sense to me at any rate.After all,the price of silver was worth $20. an ounce a year ago.Surely the criteria for the price being higher is rather stronger now!

Gf, my intention was to just moderate your stance on Gold, which you have been promoting on nearly all of the gold miner BBs. You seem to regularly post articles which support your bull stance, but rarely any articles which express a contrary view. Of course you are entitled to your view, but I felt you were becoming a victim of your own hype (i.e you wanted it to happen so much that you may have become blinkered to other factors). My link above was merely an example of a contrary view from the same page as the one you posted.
As for posting hyperlinks, I am sure you are capable of copying & pasting, which you should really always do, as a hyperlink can take you absolutley anywhere regardless of what it says in the text.

Harry...." moderate my stance on gold" !!!!!!!!!!!!!!!!!!!!!!!!

Hadnt realised you were a Money AM board moderator.

And why on earth should I post contra views to my own, surely thats up to other posters like your goodself if one disagrees.

Well that is when you can be assed to post a life link.

Surely the individual poster here on this board can DYOR. Remember this Im not here to hold ones hand.

Ive been in this business for 28 years thankyou and am quite capable of looking after myself. I make mistakes we all do.

During a day when Im intra day trading do you really expect me to go into great depth on a subject and give every angle?????, stop talking bloody silly.

Stop being a 'jobsworth' or I might just turn the tables and track you and then put my pro accountancy experience to work on your posts as you post them.

what's up "shitty digit"? .... sense of humour failure? ..... surely not made a bad call somewhere?

can't wait to return to the cold and gloom of UK this evening!

he he, thought you might love this situ and was waiting.

No sorry cynic enoughs enough, if Harrys got a problem with me then he can put if forward here in the open on the board and Ill take on his views.

I wouldnt mind but the bloke goes on about links but cant even be bothered to post a live link, now what does that say for his respect for fellow board members????????.

It says to me the man as his head in the clouds and is playing silly devils
and is self interested.

Looks like Hochschild is starting to show a downward trend...sell now at 230p.

I don't have a problem with anyone, on this board or anywhere else. Thankfully I left all that behind with my teen years.

Well thats good to see Harry.

Lets get on with making money.

Glad to see you guys are friends again.

Bailed out on the drop....!...would have made more 2 days ago !.

Spot gold price fell sub $935. This drop was predicted & RRS, FRES, CEY, HOC etc all suffered as a result. Shorters came out in force. I also took late profit. However gold price predicted by some to test the $1000 level again within a week or two.

but POG was well up on the day, for an interesting reason

Yes, I saw that. Something to do with the ORE RNS today?

go to ORE thread ... have just posted the relevant article from Reuters

News, click HERE

Gone back in HOC long again.

The sp of silver at the moment is booming upwards along with gold re the dollar and quantative easing.

Good report here..

Short Squeeze in Silver - How to Profit

by: Jason Hamlin March 19, 2009

http://seekingalpha.com/article/126743-short-squeeze-in-silver-how-to-profit

Gold SP moving up very strongly aswell.

HOC is the place to be tomorrow I reckon especially with there being a sell off on the DOW and the FTSE this afternoon...



--------------------------------------------------------------------------------

John Embry: Gold and Silver Are the Ultimate Insurance Policy

by: Andrew Mickey March 11, 2009

http://seekingalpha.com/article/125324-john-embry-gold-and-silver-are-the-ultimate-insurance-policy

The Mother of All Depressions (MOAD)

http://www.321gold.com/editorials/moria ... 1909a.html

Bob Moriarty
Archives
Mar 19, 2009

The US government lit the fuse to the $683 trillion dollar derivative's debt bomb on Wednesday March 18, 2009 with the announcement the Fed would purchase $300 billion dollars worth of US Treasury used toilet paper and an additional $750 billion dollars worth of mortgage backed used toilet paper. In total the commitment to counterfeit over a trillion dollars leaves only $682 trillion dollars worth of derivatives to sort out.

Economics is all about price discovery. No one knows what the real value is of the $683 trillion dollars in derivatives. No one knows who owns what. No one knows who owes what. If left to its own devices, the market would lower prices until all assets had a value to someone. The government in its infinite wisdom has just short-circuited this discovery mechanism.

This is the end of the dollar. Everyone with any sense on earth will be unloading both their treasuries and mortgage-backed cr?p on the Fed. The Fed has just p????d $1 trillion of counterfeit money into a $683 trillion dollar cesspit. It can't possibly fix the problem. When the world realizes the impact of the Fed monetizing all debt, there will be a total default. And then what happens?

The Mother of All Depressions.

The ability to publicly fund its debt has been what has kept the US government spending. Once that ability is dead, so is the government.

The meeting of the G20 in London on April 2, 2009 will be the most important financial meeting in history. If the delegates do not adopt a new gold standard of honest money, the dollar will totally default within a few months. The fuse has been lit. There is nothing the government can do beyond what they have already done. Nothing has worked. Nothing can work.

Bob Moriarty
President: 321gold

Hoc are presenting in London next week!

These evenings are great for private investors, and the venue is superb!

----------

Proactive Investors One2One Forums

The directors of Hochschild LSE:HOC) Noventa (AIM: NVTA), Avalon Rare Metals (TSX: AVL) and London Mining (OSEBX: LOND) will be presenting:

Thursday the 26th March 2009
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canape and wine reception. Details on the presenting companies and FREE registration can be found by clicking the link below.

To register for this FREE event, CLICK HERE


Nearest tube stations are Green Park, 5 minutes walk, (Piccadilly / Jubilee / Victoria lines) and Bond Street, 7 minutes walk (Central Line).

Im hoping fpr a big day from HOC friday.

Hochschild Mining posts full year loss of $19m - MoneyAM


Hochschild Mining posts an after-tax loss of $19m despite the firm achieving its production target of 26.1 million silver equivalent ounces last year.

The firm made an after-tax profit of $85.1m in 2007.

Results to the end of December were hit by $45m of exceptional items, including an impairment of $34.7m relating to fixed assets, despite revenue rising 42% to $433.8m.

But the frim said it ended the year in a solid financial position with a cash balance of $116.1m and it had acted swiftly to address volatile market conditions by reducing costs and conserving cash holdings.

Executive chairman Eduardo Hochschild said: "We may face volatile markets but the cost saving measures we swiftly implemented at the end of last year ensure that we are in a sound financial position and well placed to deliver our long term growth strategy.

"With solid assets, an excellent project pipeline and an enthusiastic and dedicated management team, we are well positioned for the coming year."

surely sp will get hammered?

Don't forget!click HERE for details and to register, HOC are presenting tomorrow night in London!

why is it that companys looking for savings start with the dividend every time - surely HOC has plenty in the kitty and will settle with their workers by paying them a bonus at least as good as last year and directors, of course, will not notice any difference in their own fees. time was when many coys took pride in supporting share holders who were prepared to risk their own hard earned money.

HOC has locked in it's gold production for 2009 at $972 / oz.
Tricky to say if that's a good strategy or not as some say gold has had it's day, others talk of $1500 / oz. For HOC it assures them of a known revenue stream, but maybe restricts their growth potential.

surely it is only a smallish proportion of output and in present markets very sensible

Bought a few of these as an hedge against small caps turning a little stale.

Broker seems to like them with a Buy recommendation.....

Hochschild Mining PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax
) EPS (p) DPS (p)

Canaccord Adams
05-05-09 BUY 57.14 6.72 2.69 160.00 23.53 7.40

Big breakout here....been in and out of this one...back in !.

News and analysis, click HERE

Looks like $ weakening & gold price strengthening. Can't decide where the HOC price is going next though. Seems to trade sideways for quite a while.

Interesting RNS....looks like HOC in one way or another will be producing loads of gold as well as silver...

Lovely increase again......one of the best at the moment !.

An absolute corker of a Broker note here and from Goldman Sachs with a 425p SP target......

Goldman sees 39% upside in Hochschild Mining
10 September, 2009 09:30:20 AM


Goldman Sachs believes Hochschild Mining is a golden opportunity, initiating coverage of the miner with Buy rating and 425p price target. The broker expects rising silver and gold prices to drive strong earnings growth through 2010 and 2011 as well as volume growth from equity mines and associated ventures.

HOC Chart Looks Very Bullish

With all lower indicators positive and momentum behind the stock on a rising gold and silver price.

Initially targeting a SP of 400p here.

Hochschild Mining PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
10-09-09 BUY 74.78 9.62 2.45 101.65 14.63 2.45

Canaccord Adams
12-08-09 BUY 6.06 2.42 23.03 6.67

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 74.78 7.97 2.44 101.65 18.51 4.40

1 Month Change 17.39 1.59 -0.02 -9.48 -2.31 -0.29
3 Month Change 17.64 1.25 -0.25 -58.35 -5.02 -3.00


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS -56.71% 34.83% 132.25%
DPS 244.20% -48.63% 80.33%

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 48.37m 118.97m 169.58m

EBIT 47.60m m m

Dividend Yield 1.41% 0.72% 1.30%

Dividend Cover 1.24x 3.27x 4.21x

PER 57.11x 42.36x 18.24x

PEG -1.01f 1.22f 0.14f

Net Asset Value PS 105.20p p p

LONDON, Oct 7 (Reuters) - "London-listed Latin American precious metal producer Hochschild Mining Plc unveiled plans on Wednesday to raise $250 million by issuing shares and bonds so it can invest in new mines and more takeovers, hitting its share price.

Shares in the London-listed firm slid 10.4 percent to 295.5 pence by 1505 GMT, just below the implied price of the new shares.

'We are well positioned to benefit from further investment in our asset base as well as further selective M&A opportunities,' Chief Executive Miguel Aramburu said.

'There are currently some exciting opportunities on the market,' he told a conference call.

Cazenove said the use of proceeds seemed sensible. 'The company could have done this via a rights issue but the cost and timing would likely have been greater and longer respectively,' it said in a note.

Some of the cash would be used to bump the firm's stake in Lake Shore Gold Corp back up to its previous 40 percent level after a transaction by Lake Shore diluted Hochschild's holding to 27 percent.

The firm, which cannot boost its stake to over 40 percent until November 2010, may buy Lake Shore shares on the open market or participate in any fund raising by the company, Aramburu said.

Hochschild said it also planned to use some of the proceeds to pay off $85 million of its $200 million syndicated loan facility.

FIRM'S FREEFLOAT TO RISE

Hochschild said it planned to issue up to 30.735 million shares -- representing 9.9 percent of its existing share capital -- to raise about $150 million.

Majority shareholder Eduardo Hochschild will be committing only $5 million to the placing and will therefore be diluted, increasing the freefloat, the firm said. His stake is expected to fall from about 59 percent to just over 50 percent, a spokesman said.

Hochschild -- which has six operating mines in Peru, Mexico and Argentina -- also plans to issue about $100 million of convertible bonds due 2014.

The bonds were expected to have a coupon of 5.75-6.5 percent and the initial conversion price was expected to be at a 30-35 percent premium. Pricing was due later on Wednesday"

Been creeping up since the open from 3

Surely though, sp will hit 295 again when the placing happens?

I confess, not really one I've followed but wasn't the placing price around 295p?

If that represented just 10% of the stock then I wouldn't expect the sp to go to that. Generally speaking the sp will settle below the price before placing at a % relevent to the dilution.

I took my eye off the ball there. Apologies. Placing has already happened, so onwards & upwards hopefully.

Disappointing news for Hochschild Mining...


Hochschild Mining: The FTSE 250 silver and goldmining business, which operates in Latin America, reported disappointing fourth-quarter output figures, pushing its shares lower even as it announced that full-year productin had risen by 8 per cent to a record level. Total silver equivalent output for the fourth quarter fell by 10 per cent from a year ago and by 8.8 per cent from the preceding quarter.

.

Will it breach the 300p support level tomorrow? We will see.

.

293p now. Agree with you 270-280p a fair price but if silver price falls further with reduced demand, 260p very likely.

.

I feel this is not tree shaking.

RIO, XTA, KAZ, FRES and LMI will all have a significant downward move.

.

Closed at 276p today.

.

.

.

.

Extract from Canaccord broker note:
"The announced resignations of the CEO and CFO will rightfully send concerns through the investment community. We understand Ignacio Rosado joined the Group three years ago on the basis that he would be considered for CEO and has been overlooked. Ignacio is very ambitious and capable, and clearly has ambitions elsewhere. We did not expect either of these announcements and need to look further behind the headlines."

.

.

.

Flippin' heck, the divi is a bit mean at 2 !!!

.

.

.

.

.

.

I see Citigroup have downgraded this from hold to sell, has anyone read the full report?

Gone long on HOC on back of increasing silver price.

HOC ForecastsYear Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS Grth. Div Yield

31-Dec-11 570.90 284.24 42.40p 11.7 0.1 +144% 5.97p 1.2%


144% increase in earnings by year end DEC.

Wonder what it is now with the new high of silver!!!!!!!!!!!


(digital look)

Solid update.


http://www.proactiveinvestors.co.uk/companies/news/30895/hochschild-mining-firmly-on-track-despite-fall-in-silver-output--30895.html

FLASH: Numis upgrades Hochschild Mining from reduce to hold, target price unchanged at 550p
Story provided by StockMarketWire.com

Collins Stewart responded positively to Hochschild Minings (LON:HOC) production update, saying it is bang in line and contained no surprises.

In a note to clients, analyst John Mcgloin said: The company can take a particular positive out of the fact that the high grade San Jose mine in Argentina performed well despite a work stoppage at the mine due to a pay dispute. The shares have rebounded well recently on a rally in silver and gold prices but Mcgloin reckons that, outside metal price appreciation, Hochschild now lacks short to medium share price catalysts.

Meanwhile John Meyer, mining analyst at Fairfax Securities, said: These production results put the company on track to achieve their full year numbers the company should benefit from higher prices which should offset some of the slowing production



http://www.proactiveinvestors.co.uk/columns/broker-spotlight/5957/

Broker note out............... lovely

Hochschild Mining
FTSE 250
Basic Materials
Buy
617
507.5
21.6%
Fox-Davies Capital

Target SP 617p 21.6% upside.

Been tempted back in here and opened a long . Silver price is heading higher it would seem.

Recent broker note


http://www.uploadlibrary.com/foxdavies/HochschildFlashnote2February2012.pdf

HOC Hochschild (silver and gold producer)

We have a breakout of the SP from
a bullish FLAG pattern on the chart.

First SP target is the last high around
545p and then further highs as silver
and gold prices increase.

HOC Hochschild Mining

Brokers recommendations bullish.

Forward P/E for 2013 19.2 compared to
Fresnilo its peer of 27 to 2013 shows
the stock to be significantly undervalued.

Hochschild Mining PLC

FORECASTS 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Numis Securities Ltd
27-01-12 HOLD 257.26 27.25 8.98 184.55 19.94 7.05
Broker Name Withheld 3 (Bank Of America)
18-01-12 BUY 31.91 33.86

2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 257.26 29.54 8.98 184.55 26.77 7.05

1 Month Change 0.00 0.00 0.00 0.00 0.00 0.00
3 Month Change -0.95 1.06 2.88 -126.14 -8.30 1.83


GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS 38.85% 33.76% -9.38%
DPS 0.77% 244.74% -21.42%

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA £136.64m £320.04m £221.87m
EBIT £135.33m £257.78m £163.51m
Dividend Yield 0.50% 1.73% 1.36%
Dividend Cover 8.48x 3.29x 3.80x
PER 23.50x 17.57x 19.39x
PEG 0.60f 0.52f -2.07f
Net Asset Value PS 167.75p p p

Hemscott premium.

Ouch! Brokers' recommendations of a year ago a country mile off!

Like the look of these as they seem to be bouncing from a 155p low. Have bought 4000 at 156p as results out tomorrow. Also strong director buying and rising RSI.

Good day for HOC up 8.1p (5.13%) at 166.
First target price 180
Stop at 150

Down today after Fridays good rise. Still in profit with a finish of 163.90.
I firmly believe (hope!) that the 155p was a floor for this share. The silver price has been priced in but not the potential.

Gone long today and already well into profit.

Just check the chart.

London’s leading gold forecaster: gold to average $1321 in 2015
By Tom Winnifrith | Saturday 17 January 2015

Over the past 15 years Ross Norman of Sharps Pixley has been the forecaster with the best record in the LBMA for predicting gold price moves so you should take his gold price forecasts seriously. Ross writes, "We are going out on a limb this year." Indeed.

AVERAGE : $1321

HIGH : $1450

LOW : $1170

If markets move on what you don't know today, but will know tomorrow then it follows that many factors such as a US interest rate rises should already be factored into the current price... it also begs the question what the new drivers for 2015 will be. We see ongoing declines in economic growth prompting central banks to fight deflation by resorting to inflationary pressures in H2.

If our outlook for gold in dollar terms is bullish, in emerging currencies it may be even more so as investors seek to insure or hedge against currency debasement. As such, we foresee good demand for the physical.

Most annoyingly for bulls in 2014, gold exhibited 'rally fade' despite a global economy that was as fragile as ever. Our forecast is predicated on gold becoming price inelastic (as it was in the early 2000's) and able to sustain the momentum. I say annoyingly because arguably never before have savers potentially so needed an asset with the wealth preservation qualities that gold provides ... yet the price performance these last few years has disappointed.

In short, we see gold demonstrating that it has turned a corner and investor flows return with a vengeance, aided by short covering and fresh longs in the futures markets. Perhaps most disappointingly though we are unlikely to see runaway prices beyond the $1450 level without either significant new product innovations or without the sort of black swan events in the economy that few of us would wish for.

SILVER

AVERAGE : $18.56

HIGH : $21.75

LOW : $14.50

With a firm outlook for gold, it follows that our expectations for silver would be similar ... and a little more so... such is silver's propensity to follow gold in a exaggerated fashion. Investors will take comfort from

silver ETF holdings which have remained firm (unlike gold) coupled with retail sales of the physical coins and bars which have remained robust.

Even mine production looks set for a modest decline back to levels last seen in 1999. With 75% of silver being produced as a by-product of base metals mining, the weaker global economy may well prompt some cut-backs in mining those host metals. Equally, demand from industrial applications will be correspondingly weaker, but investors (... or more likely speculators) are normally on hand to fill the void.

Like gold, silver does seem to struggle to sustain momentum to the upside as it experiences 'rally fade' for this reason we do not see the likelihood of runaway prices just yet.

Gold miners are starting to look good again – but expect a rough ride

By: Dominic Frisby
14/01/2015

http://moneyweek.com/gold-miners-look-good-again-but-expect-a-rough-ride/

CHARLES STANLEY BROKERS

Commodities

Gold (1279.81) – the surge in the gold price continues, aided by the Swiss currency move
(the Swiss are widely seen as buyers of the precious metal) and by its safe-haven
characteristics. Last week’s 4.66% advance is notable for the fact that it resulted in a clear
move above the long-term downtrend and the extent of the break has changed the basis
somewhat, to the extent that further strength now appears to be a realistic expectation
(notwithstanding the fact that the price has become somewhat overbought of late). The next
upside target is last August’s intermediate high, at $1313 or so.

Going great guns, good call gf.
2517

well done sticks

Loads errrrrrr money doodlemug.

Cheers lads.

HOC

24 Oct Numis Hold 128.50 140.00 140.00 Reiterates

RESULTS AHEAD OF FORECASTS........

Hochschild Mining Q4 Production Report

RNS

RNS Number : 6872C
Hochschild Mining PLC
21 January 2015






__________________________________________________________________________________

21 January 2015

Production Report for the 12 months ended 31 December 2014


2014 Highlights

§ Full year production of 22.2 million attrib. silver equivalent ounces substantially exceeding 21.0 million target
§ Main operation all-in sustaining costs per silver equivalent ounce expected to fall by up to 5% in 2014, within guidance (2013:$18.6/oz)
§ Total cash of approximately $115 million as at 31 December 2014

2015 Outlook

§ Further progress achieved at Inmaculada Advanced Project:
o 2015 production target of 6-7 million silver equivalent ounces remains in place despite some construction delays
o Overall project 86% complete
o Plant construction 85% complete vs 57% in Q3; contractor expected to commission plant in Q2 2015
o Key underground development plan ahead of schedule - 157,449 tonnes of development mineral already stockpiled
o Remaining construction capital expenditure of $72 million in 2015
§ Core operation mine plans revised to deliver profitable ounces in lower precious metal price environment
§ 2015 attributable production target of 24.0 million silver equivalent ounces
§ 2015 all-in sustaining costs expected to be $15-16 per silver equivalent ounce
§ 6.0 million silver ounces sold forward for 2015 at $17.75 per ounce
§ 38,000 gold ounces already sold forward for 2015 at $1,300 per ounce

Ignacio Bustamante, Chief Executive Officer commented:
"Despite the complex precious metal environment, our core assets have once again surpassed their annual target, this time by almost 6%. Several cost cutting initiatives were also successfully implemented during the year materially improving our operations' competitiveness for the year ahead. The Company will grow its production to 24 million silver equivalent ounces in 2015 while maintaining the management´s focus on reducing costs and improving efficiencies.

Our flagship Inmaculada project is close to completion, with the mine itself already ramping up and the plant construction moving towards its final stages. We are excited about Inmaculada as it will not only be the cornerstone of our production base in Peru but also will contribute significantly to reinforcing our strong cash cost position."
__________________________________________________________________________________

A conference call will be held at 2.30pm (London time) on Wednesday 21 January 2015 for analysts and investors.

Dial in details as follows:
UK: +44 (0) 20 3139 4830
Pin: 16963109#

BRIEF – Hochschild says exceeds 2014 production target
21 Jan 2015 - 07:20

Jan 21 (Reuters) – Hochschild Mining Plc

2015 production target of 6-7 million silver equivalent ounces for Inmaculada mine (not whole co) remains in place despite some construction delay
Full year production of 22.2 million attributable silver equivalent ounces substantially exceeding 21.0 million target
Main operation all-in sustaining costs per silver equivalent ounce expected to fall by up to 5 pct in 2014, within guidance
2015 all-in sustaining costs expected to be $15-$16 per silver equivalent ounce
Source text for Eikon: ... Further company coverage: HOCM.L

((Bengaluru Newsroom +91 806 749 1136);)

The market is not impressed.

HOCHSCHILD MINING



Last Signal:SELL


Last Pattern:BEARISH THREE GAP UPS



Last Close:
115.5000


Change:
-15.0000

Percent change
-11.49%






Signal Update

Our system’s recommendation today is to SELL. The BEARISH THREE GAP UPS pattern finally received a confirmation because the prices crossed below the confirmation level which was at 126.1250, and our valid average selling price stands now at 125.9250. The previous BUY signal was issued on 24/12/2014, 28 days ago, when the stock price was 81.3500. Since then HOC.L has risen by +54.79%.

Market Outlook

The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. The bearish pattern that was previously identified is finally confirmed and a SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.

21/01/2015

hope gf sold out at 130p...... otherwise his 7 digit profit is going to suffer......

No didnt sell out BB, but took a large chunk. Would have been daft not too on such a fast rise over such a small time frame.

Looking for Draghi now to put this one back on the map.

If you are thinking of buying watch it like an hawk.

Was out of these 2 days ago with a big net gain.

Will return probably after greek elections.

Hmmm.....some porkies going on here.,.

Yep never believe doodlebug 3 1/2, hes still very bitter of how FLYB bankrupt him and in fact its falling again today.

Gold and silver should do well post Greek elections.

Dont say I didnt warn you.

was referring to post 217.,.

217 - Billy Liar Tribute Act!!!!! LOL!!!!!

He just can't help it. They say compulsive liars actually start believing their own lies.

BB heres a cheaper alternative for Doodlebug 3 1/4....... he he pissing myself.

Signal Update Our system’s recommendation today is to STAY IN CASH. The previous SELL signal was issued on 21/01/2015, 2 days ago, when the stock price was 125.9250. Since then HOC.L has fallen by -17.61%.Market Outlook The bears still have the upper hand in the market. A more cautious attitude may be required, but there is no definite sign to urge you into action and to disturb your comfort of being on the sidelines.

British Bulls

.

drip, drip,drip

Fallen back sharply since it's recent 130p ish high, whilst it was a good call by gf originally, the window of opportunity was minute.
2517

I topped up my holding a couple of days ago.

22 Jan 2016
Numis today upgrades its investment rating on Hochschild Mining PLC (LON:HOC) to buy (from hold) and cut its price target to 50p (from 80p).

given that precious metals are generally regarded as a safe haven in times of volatile markets, i'm surprised you chaps have neglected this one

Time to buy gold and silver.

The share is on a downtrend since late August last year on reaching 315p
With time could change but after 2 heavy days of rising last week, today is very weak again
Will need to break over 250p on the next 2 month to change direction after holding over the 50MA

15 minutes delayed

Moving higher in the last few days.

Would have been a good purchase early Jan.

Anyone know why the sp has fallen since early 2011? Rising well now.

Results not good an a large drop this morning after yesterday's one
Wonder if ready for a bounce and take a punt.
180p good be a very good price but shorter time frame 238p would be right, but maybe only coming donw to 245p soon

There is weakness after 12.02 UT
order book DEPTH at 40 v 69

now looking for an intraday double bottom ?
264.50p was the price erlier

the intraday low has gone to 262.80p, and the order book is still very weak or much weaker yet

DEPTH at 34 v 74

still on new lows earlier 255p

silver chart

more charts as a new intraday low 255p was recorded earlier
RSI is reaching oversold territory