Purchase additional WTM stake

RNS Number : 1602C

Hochschild Mining PLC

06 November 2009

 



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6 November 2009 

Hochschild purchases an additional 4.2% of West Timmins Mining

Hochschild Mining plc ("Hochschild") has acquired a total of 26.1 million common shares in West Timmins Mining Inc. ("WTM") for a total cash consideration of C$61.6 million or a weighted average price of C$2.36 per common share through several market transactions.

Today, Hochschild triggered a disclosure requirement in accordance with Canadian regulations following its purchase of 6.2 million common shares in WTM for a total cash consideration of C$17.6 million (or C$2.85 per common share). As a result, Hochschild now owns 18.3% of WTM.

Hochschild has acquired ownership and control over WTM's common shares for investment purposes, and to acquire additional shares of Lake Shore Gold Corp. following the business combination between Lake Shore Gold and WTM. Hochschild may acquire ownership of and control over, further common shares in WTM. 

Enquiries:

Hochschild Mining plc

Isabel Lütgendorf                                              [phone]

Head of Investor Relations

Finsbury

Robin Walker                                                    [phone]

Public Relations

About Hochschild Mining plc:

Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over forty years' experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru, one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has numerous long-term prospects throughout the Americas. 

About West Timmins Mining Inc: 

WTM is focussed on the exploration and development of district-scale gold projects in the major gold camps of North America. West Timmins Mining is based in Vancouver, British Columbia, Canada and trades on the Toronto Stock Exchange under the symbol WTM.

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