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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 Corporation (NYSE American: GORO) has entered into an arrangement agreement with Aquila Resources Inc. (OTCQB: AQARF) for the acquisition of all Aquila shares. The deal values Aquila at approximately C$30.9 million, with a 29% premium based on share prices from September 3, 2021. Post-transaction, GRC shareholders will hold 85.1% and Aquila shareholders 14.9% of the combined entity. GRC expects an increase of over 500% in gold resources and plans to maintain its dividend history.
Closing is anticipated in late November 2021, pending regulatory approvals.
Gold Resource Corporation (NYSE American: GORO) will release its financial and operating results for Q3 2021 on October 27, 2021, after market close. A conference call will be hosted on October 28, 2021, at 11:00 a.m. Eastern Time, featuring a Q&A session with key executives. The Company aims to capitalize on its resources, particularly focusing on the Don David Gold Mine in Mexico, and plans to acquire Aquila Resources Inc. and develop the Back Forty Project in Michigan. Further details will be available on their website.
Gold Resource Corporation (GORO) will present at the Gold Forum Americas / XPL-DEV 2021 Conference in Colorado Springs from September 12-15, 2021. CEO Allen Palmiere will discuss the company's recent acquisition of Aquila Resources during a live presentation on September 13 at 11:20 AM MT. GRC is focused on maximizing the potential of its existing infrastructure in Mexico while developing the Back Forty Project in Michigan. Interested parties can access the webcast through the provided link.
Aquila Resources Inc. has entered into a Letter Agreement with Gold Resource Corporation (GORO) for a proposed acquisition of Aquila's shares. GORO will acquire all common shares of Aquila at an exchange ratio of 0.0399 GORO shares per Aquila share, equating to a total acquisition value of approximately C$30.9 million. This transaction represents a 29% premium based on a 20-day VWAP. Both companies anticipate that the merger will accelerate production at Aquila's Back Forty Project and enhance their market presence, creating a diversified producer in the precious and base metals sector.
Gold Resource Corporation (NYSE American: GORO) has confirmed significant down-dip mineralization in the Switchback vein system, located approximately 80 meters below existing operations. Drilling results from Q2 and Q3 2021 indicate potential for short-term precious metal mining, with notable high-grade intercepts including 10.11 m at 14.95 g/t gold and 194 g/t silver. The exploration aims to expand reserves and enhance mine planning by identifying new areas and optimizing existing resources, thereby increasing potential revenue streams for shareholders.
Gold Resource Corporation (NYSE American: GORO) has recently prioritized the health and safety of its workforce amid COVID-19. A total of 332 employees returned to the mine site, with 329 testing negative. The company is implementing enhanced safety measures while restarting production, aiming to reach a throughput of 1,500 tonnes per day. However, updated guidance for 2021 includes a decrease in payable production estimates for both gold and silver. Cash and all-in sustaining costs have increased due to lower co-product credits and production challenges.
Gold Resource Corporation (NYSE American: GORO) has reported a significant rise in COVID-19 cases at its Don David Gold Mine in Mexico, leading to a temporary ramp-down of operations. Currently, 102 individuals are in isolation, prompting enhanced health protocols and restricted movement on-site. The company will reduce activities for at least the next ten days to mitigate infection spread and relieve medical personnel. Critical operations will continue under strict guidelines. The situation will be monitored daily, with updates to follow as conditions change.
Gold Resource Corporation (NYSE American: GORO) reported a significant spike in COVID-19 cases at its Don David Gold Mine, with 77 confirmed cases among workers. In response, the company has enhanced its COVID-19 safety protocols and extended medical assistance to local communities. Currently, 30% (292 individuals) of the workforce is fully vaccinated, with an expected increase of 200 in the coming week. The company cautions that operations might be constrained until mid to late September due to these protocols, although it has not withdrawn its production guidance for 2021.
Gold Resource Corporation (GORO) announced significant geological developments at the Don David Gold Mine. The company confirmed the up-dip extension of the Switchback vein system, revealing additional mineralization 30 meters above current mine workings. Drilling results indicate potential for new mineral resources, with positive drill highlights including up to 4.45 g/t gold and 4,460 g/t silver in recent tests. The Sandy vein system also showed continuity, paving the way for future exploration and resource expansion.
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