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Gold Resource Corporation (GORO) is a dynamic mining and metals company headquartered in Colorado Springs, Colorado, USA. Specializing in the production, development, and exploration of gold and silver, GORO operates significant projects in Oaxaca, Mexico, and Nevada, USA. The company focuses on low capital expenditure projects with the potential for high returns, ensuring efficient and profitable operations.
The company's flagship project, Don David Gold in Oaxaca, Mexico, is a prime example of its commitment to resource extraction and economic growth. Additionally, the Back Forty project in Michigan, USA, underscores GORO's strategic expansion and exploration efforts.
Gold Resource Corporation's approach balances operational efficiency with sustainable practices, aiming for minimal environmental impact while maximizing output. The company is known for its robust financial health, strategic partnerships, and a strong portfolio of valuable assets.
With a focus on delivering shareholder value, GORO continually seeks new opportunities to enhance its production capabilities and resource base. Its transparent business practices and commitment to community engagement further solidify its reputation in the industry. Stay updated with the latest news and developments from Gold Resource Corporation to understand its impact and future trajectory.
Gold Resource (NYSE American: GORO) reported Q3 2024 operational results from its Don David Gold Mine in Mexico. The company produced and sold 1,357 ounces of gold and 181,434 ounces of silver at average prices of $2,561 and $30.61 per ounce, respectively. Q3 performance was significantly impacted by equipment availability issues and mining faces. The company reported a net loss of $10.5 million ($0.11 per share) and ended the quarter with $6.1 million in working capital and $1.4 million in cash. Due to production challenges, the company warns operations may not be possible beyond November 2024 without additional capital of approximately $15 million for equipment upgrades and working capital.
Gold Resource (NYSE American: GORO) reported preliminary Q3 2024 results, with sales of 1,357 ounces of gold and 181,434 ounces of silver, totaling 3,526 gold equivalent ounces. The company faces significant operational challenges, including equipment availability issues and decreased production. Total tonnes milled declined to 83,690 in Q3 2024, with lower grades across all metals. The company requires approximately $15 million in additional capital ($7M for equipment/upgrades, $8M for working capital) to continue operations beyond November 2024, as current cash flow is insufficient to fund necessary improvements.
Gold Resource (NYSE American: GORO) reported its Q2 2024 financial results for the Don David Gold Mine in Mexico. Key highlights include:
- Production of 2,724 oz gold and 234,560 oz silver
- Production of 1,771 tonnes zinc, 197 tonnes copper, and 491 tonnes lead
- Cash balance of $5.3 million and working capital of $14.3 million
- Net loss of $27.7 million or $0.30 per share
- Total gold equivalent ounces sold: 5,625
- Total sales: $20.8 million
The company faced production delays due to excessive rains and social issues related to Mexico's presidential election. Positive factors included a stronger US Dollar and higher metal prices. The drilling program progressed with positive results, potentially expanding resources and reserves.
Gold Resource (NYSE American: GORO) has announced a conference call scheduled for Wednesday, August 7, 2024, at 12:00 p.m. Eastern Time. The call will feature prepared remarks followed by a live Q&A session with key executives, including Allen Palmiere (President and CEO), Alberto Reyes (COO), and Chet Holyoak (CFO). Participants can join via webcast or telephone, with the call being recorded and later posted on the company's website. This event provides an opportunity for investors and analysts to gain insights into GORO's performance and future outlook directly from its leadership team.
Gold Resource reported its financial results for the first quarter of 2024, highlighting the production and sale of gold, silver, zinc, copper, and lead. The company also provided a corporate update on its activities, including operational challenges, exploration programs, and safety measures. Despite a net loss of $4.0 million for the quarter, the company maintained a cash balance of $5.7 million with no debt. The first quarter saw successful progress in the underground drilling program at the Don David Gold Mine, with positive results in identifying high-grade ore shoots. The company continues to focus on improving recoveries and cost efficiency amidst challenges such as lower base metal prices.
Gold Resource (NYSE American: GORO) has rescheduled the release of its first quarter 2024 financial results to allow for completion of audit procedures. The conference call will take place on May 3, 2024, with the preliminary results remaining unchanged. The company is a gold and silver producer, developer, and explorer focusing on the Don David Gold Mine in Mexico and the Back Forty Project in the USA.
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