Gold Resource Corporation - GORO STOCK NEWS

Gold Resource Corporation (NYSE American: GORO) has successfully completed its acquisition of Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) through a statutory plan of arrangement. The acquisition was approved on November 17, 2021, and entails the exchange of 0.0399 GRC shares for each Aquila share, totaling approximately C$30.9 million. Former Aquila shareholders will receive further information for share transfers, while Aquila is expected to be delisted from the TSX soon. This acquisition supports GRC's strategy to develop the Back Forty Project in Michigan.

Gold Resource Corporation (GORO) is participating in the H.C. Wainwright Mining Conference on November 30 and December 1, 2021. CEO Allen Palmiere will present an overview of the company and engage in one-on-one meetings with investors. The presentation will be accessible online starting on December 1, at 1:30 PM ET, with an archival period of 90 days. The company's strategic direction includes enhancing the Don David Gold Mine in Mexico and progressing the Back Forty Project in Michigan. Interested investors can register for the conference via provided links.

Gold Resource Corporation (NYSE American: GORO) announced that at a special meeting, an overwhelming majority of Aquila Resources Inc. shareholders approved the acquisition plan. Specifically, 98.884% of votes supported the transaction, surpassing the necessary thresholds for approval. The deal is set to advance the Back Forty Project in Michigan, with closing anticipated shortly, pending certain conditions including court approval. President & CEO Allen Palmiere expressed gratitude for the shareholder support and eagerness to proceed with the integration.

Aquila Resources Inc. (AQARF) announced that its shareholders overwhelmingly approved the Arrangement Resolution for the acquisition by Gold Resource Corporation (GORO) at a special meeting. 98.884% of votes cast were in favor, exceeding the required 66⅔ percent approval. A total of 208,546,503 shares were represented, marking 60.701% of the total. The closing of the transaction is pending court approval from the Ontario Superior Court of Justice, with expectations to finalize the deal in the coming weeks. The merger aims to enhance growth potential as part of a diversified metal producer.

Aquila Resources (OTCQB: AQARF) announced its Q3 2021 financial results, reporting cash of $2.3 million and a net loss of $1.5 million. The company is in the process of being acquired by Gold Resource Corporation (AMEX: GORO), with a shareholder meeting scheduled for November 17, 2021, to vote on the transaction. The proposed exchange ratio offers a 29% premium based on share price averages. Additionally, Aquila is advancing its Back Forty Project, with an optimized feasibility study expected to be completed soon.

Gold Resource Corporation (GORO) announced a quarterly dividend of $0.01 per common share for Q4 2021, payable on December 29, 2021. Shareholders of record as of December 15, 2021 will receive this dividend. The Company noted that dividends may vary and could be discontinued based on factors such as operational cash flows and market conditions. Gold Resource Corporation operates primarily in gold and silver production, with significant activities at the Don David Gold Mine in Oaxaca, Mexico, and plans to develop the Back Forty Project in Michigan.

Gold Resource Corporation (GORO) announced a strong third quarter for 2021, achieving revenues of $29 million and a net income of $1.5 million ($0.02 per share). Despite operational challenges from COVID-19, operating cash flow reached $21.9 million year-to-date, with a cash balance of $29.5 million as of September 30, 2021. The company is heavily investing in its Don David Gold Mine, with $18.9 million allocated to infrastructure, including a water filtration plant and dry stack tailings facility, 95% complete. They are also set to finalize a significant acquisition.

Gold Resource Corporation (NYSE American: GORO) reported preliminary third quarter 2021 production of 9,170 gold equivalent ounces, comprising 5,809 gold ounces and 255,394 silver ounces despite a temporary shutdown due to COVID-19. The company noted improved gold grades and recoveries following ground support resolutions. For the nine months, sales showed significant increases with gold ounces up 41% YoY. However, production guidance for 2021 was revised downward with projected gold and silver production reduced to 21,000–23,000 ounces and 1,100,000–1,300,000 ounces respectively.

Aquila Resources Inc. has entered into an agreement for Gold Resource Corporation (GORO) to acquire all outstanding Aquila shares at an exchange ratio of 0.0399 GORO shares per Aquila share, equating to a 29% premium based on the 20-day VWAP as of September 3, 2021. Post-transaction, GORO and Aquila shareholders will own 85.1% and 14.9% of the combined entity, respectively. The arrangement aims to enhance market presence and de-risk the financing of the Back Forty Project. The transaction requires approval from Aquila shareholders, expected to close in late November 2021.