Gold Resource Corporation - GORO STOCK NEWS

Gold Resource Corporation (NYSE American: GORO) reported 42,757 gold equivalent ounces sold in 2022, exceeding guidance. Despite a net loss of $6.3 million, the company generated $138.7 million in revenue and achieved an EBITDA of $29.5 million. The year-end cash balance stood at $23.7 million. Key investments included $31.3 million in the Don David Gold Mine and Back Forty Project. The company continues to face challenges like inflation and localized operational issues but remains optimistic about future drilling results. Plans for 2023 include significant capital investments and a focus on community collaboration for project sustainability.

Gold Resource Corporation (NYSE American: GORO) has announced promising drilling results from its Three Sisters, Marena, South Soledad, and Sagrario vein systems. These findings indicate potential for higher-grade resources and expanded mineralization, with drill intercepts revealing significant precious and base metal mineralization within 100 to 120 meters of existing workings. Highlights include notable gold and silver grades from various drill holes, particularly in the Three Sisters vein system. The company is advancing its 2023 exploration objectives to identify and define additional mineral resources while continuing infill drilling to upgrade inferred resources.

Gold Resource Corporation (GORO) is focusing on enhancing the value of its Mexican mine and the Back Forty Project while facing challenges from lower-grade mineral resources impacting cash flows and earnings. In 2022, the company experienced declines in production and increased cash costs due to these lower grades, projecting continued effects into 2023. GRC plans to suspend its quarterly dividend to safeguard its balance sheet, concentrating on exploration and growth opportunities. Guidance for 2023 includes 17,000 to 19,000 gold ounces and all-in sustaining costs estimated between $1,650 and $1,750 per gold equivalent ounce.

Gold Resource Corporation (GORO) reported strong sales for 2022, including 30,119 ounces of gold and 1,057,209 ounces of silver, totaling 42,757 gold equivalent ounces. The company also sold 14,157 tonnes of zinc, 1,348 tonnes of copper, and 5,391 tonnes of lead, contributing to a cash balance of over $23 million. CEO Allen Palmiere noted production exceeded guidance despite challenges. However, a decline in grade profile is expected in 2023. The company is advancing its Back Forty Project in Michigan while maintaining community engagement.

Gold Resource Corporation (GORO) announced the receipt of 12,250,000 common shares of Green Light Metals Inc. upon converting a C$4.9 million promissory note. This conversion, executed on December 28, 2022, occurred at a price of C$0.40 per share, granting GORO approximately 28.51% ownership in Green Light. The note was linked to the C$7.0 million sale of exploration assets in Wisconsin. GORO plans to monitor and potentially adjust its stake in Green Light based on various business factors.

Gold Resource Corporation (NYSE American: GORO) has announced a quarterly dividend of $0.01 per common share for Q4 2022, payable on December 30, 2022, to shareholders on record as of December 15, 2022. The dividend's amount and consistency may change at the Board's discretion based on operational cash flows, company strategies, and market conditions. GRC operates the Don David Gold Mine in Oaxaca, Mexico, and is focused on leveraging its land position and developing the Back Forty Project in Michigan, USA.

Gold Resource Corporation (GORO) reported a third quarter 2022 loss of $9.7 million, impacted by lower metal prices and increased depreciation costs. The company sold 5,478 ounces of gold and 225,012 ounces of silver, totaling 8,042 gold equivalent ounces. Despite a cash balance of $22.5 million, capital investments exceeded $24 million, primarily in the Back Forty Project feasibility and permitting. Safety improvements delayed production, but the company remains on track with its 2022 guidance. The conference call is scheduled for November 1, 2022.

Gold Resource Corporation (GORO) reported sales of 5,478 ounces of gold and 225,012 ounces of silver in Q3 2022, totaling 8,042 gold equivalent ounces. The company also sold 2,943 tonnes of zinc, 282 tonnes of copper, and 1,056 tonnes of lead, contributing to a cash balance exceeding $22 million. Production at the Don David Gold Mine in Mexico is on track with ongoing feasibility studies at the Back Forty Project in Michigan. A conference call is scheduled for November 1, 2022.

Gold Resource Corporation (NYSE American: GORO) has been invited to a Scoping Environmental Impact Assessment (SEIA) Meeting by Michigan's Department of Environment, Great Lakes and Energy on August 5, 2022. The meeting will allow the company to present the initial site plan and discuss the permitting process for the Back Forty Project. Key improvements include a combined open pit and underground mine, reduced wetland impacts, and a filtered tails facility. CEO Allen Palmiere emphasized the company's commitment to environmental and community concerns.