Gold Resource Corporation - GORO STOCK NEWS

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.

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.