Altius Minerals wins arbitration decision on Nevada gold royalty rights
Altius interprets the award as providing for significant expansion of its royalty rights on the Silicon project held by AngloGold.
Hochschild Mining PLC (HOC:LN) shares are down nearly 5% on the day and profits were down 50% the year ending December 2012.
2012 was not kind to Hochschild as the miner’s sales were also down 17% to $817 million.
Hochschild blames the slide on a 10% drop in the price of silver.
Production dipped 10% to 13.5 million ounces over the same time period, contributing to the profit decline.
The company’s shares are currently at a premium relative to the rest of the mining sector, trading at just over 14 times the earnings forecast for 2013.
Hochschild share price over one month closing March 12, 2013
