TORONTO, Sept. 17, 2012 /CNW/ - Patagonia Gold Plc (TSX: PAT, AIM: PGD) ("Patagonia Gold" or "the Company") today announced the release of the Company's interim report and unaudited consolidated financial statements and accompanying notes for the six-month period ended June 30, 2012.
The full report, together with additional information regarding Patagonia Gold, is available on the company website at www.patagoniagold.com or through SEDAR at www.sedar.com
About Patagonia Gold
Patagonia Gold Plc is an advanced mining exploration company that seeks to grow shareholder value through the acquisition, exploration and development of gold and silver projects in the southern Patagonia region of Argentina. The Company is primarily focused on the development of three projects: the flagship Cap-Oeste project, which has yielded large scale exploration results, the nearby COSE project, which is expected to begin generating free cash flow in 2013, and the Lomada project, which is expected to begin gold production in the fourth quarter of 2012. Patagonia Gold, indirectly through its subsidiaries or under option agreements, has mineral rights to over 220 properties in several provinces of Argentina and Chile, being one of the largest landholders in the province of Santa Cruz. The Company is headquartered in London, with subsidiary offices in Buenos Aires and Toronto.
Patagonia Gold is listed on the Toronto Stock Exchange (TSX) under the symbol PAT and has been listed on the AIM market of the London Stock Exchange under the symbol PGD since 2003.
Cautionary Statement Regarding Technical and Forward-Looking Information
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources in the Company's 2012 interim report as referred to in this news release may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. The quantity and grade of reported inferred resources in such estimates are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. The preliminary economic assessments in connection with each of the COSE project and the Lomada project referred to in the Company's 2012 interim report are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that either preliminary economic assessment will be realized. The Company's planned production decisions in respect of the COSE project and the Lomada project are not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore readers are cautioned that there is increased uncertainty and there are economic and technical risks of failure associated with such production decisions.
This news release includes certain information that may constitute "forward-looking information" under applicable securities legislation. Forward looking information includes, but is not limited to, statements about the commencement of production operations at certain of the Company's mineral projects, forecasts as to free-cash flow, strategic plans, mineral resources estimates, future operations, results of exploration, future works programs, capital expenditures and objectives. Forward-looking information is necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's public disclosure. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Patagonia Gold plc
