New gold producer for Patagonia

Gold and silver miner Patagonia Gold narrowed its losses in 2012, raising $12.4m (£8m) in equity capital to develop a new gold processing facility and making $4.9m on the purchase and sale of Argentine bonds during the year. “During 2012, Patagonia Gold turned the corner from an exploration and development company to a gold producer,” said Carlos Miguens. Gold production is expected to commence in the second quarter of 2013.