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Tahoe in damage control over Guatemala suspension

Friday, July 14, 2017

Tahoe Resources, whose flagship Guatemalan mine has been suspended, is taking steps to cut costs, including possibly slowing an expansion of a project in Peru and trimming exploration.

The Reno, Nevada-based company may also discuss halting its dividend at an August board meeting and might slow down the payment of bills, Chief Executive Officer Ron Clayton said.

The precious-metals producer has lost about a third of its market value and has been hit by a wave of analyst rating cuts since July 5, when Tahoe said its 2017 production guidance was in jeopardy after the Guatemalan Supreme Court suspended the operating license of the Escobal silver mine.

Source: Bloomberg