Hochschild sells 1.8mn Gold Resource shares

Bnamericas Published: Tuesday, December 17, 2013

Peruvian precious metals miner Hochschild Mining (LSE: HOC) has sold 1.8mn shares in Mexico-focused Gold Resource (NYSE MKT: GORO), according to a filing on the US Securities and Exchange Commission website.

The shares were sold at a price of US$4.36 or a total of US$7.85mn.

Following the sale, Hochschild holds 9.45mn Gold Resource shares, the filing said. Gold Resource has a total of 54.1mn outstanding shares, according to information from the company website.

Gold Resource has the El Águila gold mine in Mexico's Oaxaca state, where the company announced completion of a mill expansion project to 1,500t/d capacity on Monday (Dec 16).

The company also has six other silver and gold projects in Mexico's Oaxaca state.

The company's stock was trading at US$4.92 on the NYSE MKT exchange shortly after 1pm New York time on Tuesday (Dec 17), up 2.71% from the previous day.

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