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Gold Resource Corporation Achieves Record Annual Gold Production, Ninth Consecutive Profitable Year, Delivers Earnings of $0.09 Per Share and Provides 2020 Production Outlook
COLORADO SPRINGS, March 02, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company” or “GRC”) today announce
About this update from Gold Resource Corporation
[{"type":"text","content":" COLORADO SPRINGS, March 02, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company” or “GRC”) today announced a ninth consecutive year of profitability, reporting net income of $5.8 million or $0.09 per share. The Company also confirmed its previously announced 2019 consolidated annual production record of 40,318 gold ounces along with 1,732,604 silver ounces. The Company announced its 2020 consolidated precious metal Outlook targeting 54,000 gold ounces and 1,700,000 silver ounces plus or minus a 10 percent range. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A. The Company has returned $113 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. 2019 ANNUAL HIGHLIGHTS Achieved its ninth consecutive year of profitability; Record consolidated annual gold production; Achieved 2019 Oaxaca Mining Unit gold production outlook range with 29,435 ounces; Achieved 2019 Oaxaca Mining Unit silver production outlook range with 1.72 million ounces; $135.4 million consolidated net sales, an increase of 17%; $5.8 million net income, or $0.09 per share; Oaxaca Mining Unit $264 total cash costs (after by-product credits) per precious metal gold equivalent ounce sold; Oaxaca Mining Unit $646 total all-in sustaining cost per precious metal gold equivalent ounce sold; Completed construction and commenced production at the Nevada Mining Unit, producing 10,883 gold ounces; 100% increase in annualized dividends from $0.02 to $0.04 per share, $1.5 million distributed in shareholder dividends, totaling over $113 million since 2010. 2019 Overview “I am very pleased to report Gold Resource Corporation delivered record gold production and its ninth consecutive year of profitability for 2019,” stated Gold Resource Corporation CEO and President, Mr. Jason Reid. “In addition to these achievements, just ten months after ground breaking we brought our Nevada Mining Unit online in April producing first gold from our Isabella Pearl Mine. We plan to continue ramping up production through 2020 to a targeted annual rate of 40,000 gold ounce...