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Patagonia Gold Corp. (HGLD)

Other OTC - Other OTC Delayed Price. Currency in USD
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Previous Close0.0771
Open0.0869
BidN/A x N/A
AskN/A x N/A
Day's Range0.0750 - 0.0880
52 Week Range0.0110 - 0.1500
Volume21,458
Avg. Volume15,486
Market Cap39.174M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.0140
Earnings DateApr 28, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Patagonia Gold 2020 Financial Results
    GlobeNewswire

    Patagonia Gold 2020 Financial Results

    VANCOUVER, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces its audited results for the fiscal year ended December 31, 2020 (“YE 2020”). The financial statements together with the related management’s discussion and analysis (“MD&A”) are available on the Company’s website and under the Company’s profile on SEDAR at www.sedar.com. Highlights Generated revenue of US$19.8 million and gross profit of US$6.6 million in 2020.Produced 10,233 gold equivalent ounces (1) and sold 11,174 gold equivalent ounces (1).Obtained the provisional permit for the development of the Cap-Oeste gold/silver underground project.Converted US $10.0 million of debt to common shares at $0.30.Advanced the Calcatreu environmental base line studies and pre-feasibility work on schedule.Signed a definitive agreement to acquire 100% interest in the Mina Angela Project located in Chubut Province, Argentina.Merged its wholly owned subsidiaries Patagonia Gold SA and Cerro Cazador SA into one legal entity achieving cost efficiencies. (1) Gold equivalent ounces include 191,152 silver ounces produced, and 193,476 silver ounces sold converted to a gold equivalent based on a ratio of the average spot market price for the commodities each period. The ratio for year ended December 31, 2020 was 85.99:1 (2019 – 85.29:1). Christopher van Tienhoven, CEO of the Company commented: “Despite the COVID-19 pandemic that has impacted economic activities around the world, Patagonia has safely advanced its development strategy for exploration, development and mining operations in Argentina. With the completion of a $9.3 million equity financing and continued accumulation of precious metals projects in South America, we believe we are well positioned to benefit from Company’s significant asset portfolio.” Qualified Person’s Statement Donald J. Birak, an independent geologist and Registered Member of SME and Fellow of AusIMM, is the qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical content of this news release. About Patagonia Gold Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 420 properties in several provinces of Argentina and Chile and is one of the largest landholders in the province of Santa Cruz, Argentina. For more information, please contact:Dean StuartT: 403 617 7609E: dean@boardmarker.net Christopher van Tienhoven, Chief Executive OfficerPatagonia Gold CorpT: +54 11 5278 6950E: cvantienhoven@patagoniagold.com FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including, but not limited to, statements with respect to, among other things, the anticipated increase in interest in the Argentina mining sector, advancement and development of gold and silver projects in the Patagonia region of Argentina and the anticipated growth in shareholder value. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

  • Patagonia Gold Enters into Definitive Agreements to Acquire the Homenaje and Nico Projects in Argentina
    GlobeNewswire

    Patagonia Gold Enters into Definitive Agreements to Acquire the Homenaje and Nico Projects in Argentina

    VANCOUVER, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (PGDC.TSXV) announces it has entered into definitive agreements to acquire two projects in the Deseado Massif of southern Argentina. Patagonia entered into a definitive option agreement dated April 15, 2021 (the “Option Agreement”) with Mirasol Resources Ltd. (“Mirasol”) and Mirasol’s wholly owned subsidiary Australis S.A. (“Australis” and together with Mirasol, the “Vendors”), which grants Patagonia an option to acquire a 75% undivided interest in and to Australis’ rights and interest in the Homenaje project (the “Homenaje Project” or “Homenaje”) located in Santa Cruz Province, Argentina. Patagonia also entered into a definitive transfer agreement dated April 15, 2021 (the “Transfer Agreement”) with the Vendors, which grants Patagonia a 100% undivided interest in and to Australis’ rights and interest in the Nico project (the “Nico Project” or “Nico”) located in Santa Cruz Province, Argentina. Summary of the Terms of the Definitive Agreements Homenaje Project Pursuant to the Option Agreement, Patagonia has an option to earn a 75% managing, joint venture interest in the Homenaje Project over six years upon achievement of the following (collectively, the “Earn-In Obligations”): an initial work program over six years of $2,550,000 in exploration expenditures, including 2,500 meters of drilling, on the Homenaje Project;expenditures on exploration activities with respect to the Homenaje Project (the “Exploration Expenditures”) of a minimum commitment of US$400,000 over the first 18-months;following completion of the initial Exploration Expenditures and drilling obligations due within the first 30 months, Patagonia must complete a minimum of $400,000 of Exploration Expenditures in any 12-month period, and a minimum of $200,000 of Exploration Expenditures in any six-month period; anda pre-feasibility study, prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects for a mineral resource of not less than 300,000 contained ounces of gold equivalent. Upon Patagonia completing the Earn-In Obligations, Patagonia and the Vendors will hold 75% and 25%, respectively, in a joint venture company holding the Homenaje Project. If either party’s equity interest is diluted below 10%, it will convert to a 2% net smelter return (“NSR”) royalty. Nico Project Pursuant to the terms of the Transfer Agreement, Patagonia has acquired the Vendors’ interest in the Nico Project in exchange for a 1.5% NSR royalty. If, by the end of the third year, the Nico Project has not been operated as a producing mine, or Patagonia has not produced and shipped minerals in commercial quantities (excluding bulk sampling or pilot plant operations, if any) from the Nico Project for a period of 30 consecutive days, Mirasol will have the right to regain full ownership of the Nico Project at no cost to Mirasol. Christopher van Tienhoven, CEO of the Company, stated “We are pleased to secure these properties and we look forward to our exploration and mining team commencing work on them. New discoveries at Homenaje and Nico are expected to have synergies with our nearby Cap-Oeste project and our Martha mine and mill, respectively”. Overview of the Projects Homenaje Project Homenaje occurs within a +11,050-hectare land package abutting the Company’s El Tranquilo block on the west-southwest. From its exploration activities, consisting of geologic and geophysical mapping, sampling and geochemical analyses, Mirasol defined several northwest-trending, anomalous areas within the favorable, Jurassic-aged Chon Aike Formation - the major host to mineral deposits in the Deseado Massif. Homenaje Project is just three kilometers south-southwest of Patagonia’s Cap-Oeste mine. No drilling has been conducted at Homenaje to date. Nico Project Nico occurs within a large (+77,700-hectare) land package in the central part of the Deseado Massif. It is traversed by a major, provincial highway and is situated about 45 kilometers north of Patagonia’s Mina Martha mine and mill. Work by Mirasol and others at Nico, consisting of geologic and geophysical mapping, sampling and geochemical analyses, has defined four (4) areas of interest: Endeavor, Aurora, Vittoria, and Resolution. Highly anomalous gold and silver values, up to 35 g/t Au and +6,100 g/t Ag, were defined from Mirasol's geochemical work. Eleven (11) core holes were completed on the Tito structures in the Endeavor target in 2009, which yielded values up to 2.25 grams per tonne (g/t) Au and 197 g/t Ag (within 1.25 meters, drill length). Qualified Person’s Statement Donald J. Birak, an independent geologist and Registered Member of SME and Fellow of AusIMM and the qualified person as defined by National Instrument 43- 101, has reviewed and approved the scientific and technical content of this press release. About Patagonia Gold Patagonia Gold Corp. is a mining and development company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 420 properties in several provinces of Argentina and Chile and is one of the largest landholders in the Province of Santa Cruz, Argentina. For more information, please contact: Dean StuartT: 403 617 7609E: dean@boardmarker.net Christopher van Tienhoven, Chief Executive OfficerPatagonia Gold Corp.E: cvantienhoven@patagoniagold.com FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including, but not limited to, statements with respect to the Company’s acquisitions of interests in the Homenaje Project and the Nico Project, including in respect of the Earn-In Obligations, and the conditions for it to retain its interest in the Nico Project, as well as development of the Company’s mining operations and the Company’s future plans, intentions and expectations. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Patagonia Exercises Option to Acquire the Mina Angela Property
    GlobeNewswire

    Patagonia Exercises Option to Acquire the Mina Angela Property

    VANCOUVER, British Columbia, March 12, 2021 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces the Company has exercised the option pursuant to the previously announced definitive option agreement (the “Definitive Agreement”) to acquire the Mina Angela property. As announced on September 15, 2020, Patagonia signed the Definitive Agreement with Latin Metals Inc. (“Latin Metals”), which granted Patagonia an irrevocable option to acquire a 100% interest in the Mina Angela property, which was subsequently assigned to its wholly-owned subsidiary, Huemules S.A. The Mina Angela property is situated in the Somuncura Massif of southern Argentina and is comprised of 44 individual mining claims. It covers 200 km² and is located approximately 50 km east-southeast of Patagonia’s 100% owned Calcatreu gold project. In connection with exercising the option, Patagonia (through its subsidiary) will pay Latin Metals the second earn-in payment of US$250,000. A final payment of US$500,000 is expected to be paid within 30 days of verification that the legal restrictions preventing development of mining activity in the Chubut Province and at the Mina Angela property have been lifted in such a manner that Patagonia thereafter has the ability to perform exploration and exploitation mining activities on Mina Angela property. In addition, Latin Metals will be entitled to receive a 1.25% NSR from future production, half of which can be repurchased by Patagonia for US$1 million. About Patagonia Gold Patagonia Gold Corp. is a mining and development company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 360 properties in several provinces of Argentina and Chile and is one of the largest landholders in the Province of Santa Cruz, Argentina. For more information, please contact: Dean StuartT: 403 617 7609E: dean@boardmarker.net Christopher van Tienhoven, Chief Executive OfficerPatagonia Gold CorpT: +54 11 5278 6950E: cvantienhoven@patagoniagold.com FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including, but not limited to, Patagonia making the payment to exercise the option and expectations as to future payments under the Definitive Agreement and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.