COLORADO SPRINGS, Colo., April 16, 2013 /PRNewswire/ -- Gold Resource Corporation (NYSE MKT: GORO) (the "Company") reported its preliminary production results for the first quarter ended March 31, 2013 of approximately 22,300 ounces precious metal gold equivalent ("AuEq", calculated at actual sales price ratio of 54:1). Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $78 million to shareholders in monthly dividends since declaring commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The Company produced approximately 22,300 ounces AuEq during the first quarter of 2013 and maintains its Outlook for the full year at 80,000–100,000 ounces AuEq. Arista underground mine development has reached level 14. The 2013 mill expansion to a nominal 1,500 tonnes per day progressed during the first quarter. The concrete foundation for the new ball mill is complete, foundations for the new thickener surge tanks are effectively complete and the new flotation cells have been ordered.
Gold Resource Corporation's President, Jason Reid, stated, "We are pleased with production results which were in line with our targets. Mine development advanced well, exploration during the quarter further defined new mineralized areas outside of the Baja/Arista veins in the Arista Deposit, including Splay #5, and the Company acquired new prospective land concessions, further consolidating our North 70 West mineralized structural corridor."
Full financial results for the first quarter will be available at the time the Company files its quarterly report on Form 10-Q with the Securities and Exchange Commission.About GRC: Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 53,279,369 shares outstanding, no warrants and no debt. Gold Resource Corporation offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved. Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's 10-K filed with the SEC. Contacts: Corporate Development Greg Patterson 303-320-7708 www.Goldresourcecorp.com SOURCE Gold Resource Corporation
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV