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Gold Resource Corporation Celebrates Milestones of 10 Year Production, Over $1 Billion in Revenue and $114 Million in Dividends
Colorado Springs, July 01, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced the mile
About this update from Gold Resource Corporation
[{"type":"text","content":" Colorado Springs, July 01, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced the milestones of a decade of production, generating over $1 billion in revenue and distributing over $114 million in shareholder dividends from its Oaxaca Mining Unit in Mexico. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. The Company announced commercial production from its Oaxaca Mining Unit (OMU) on July 1, 2010 estimating the Arista Mine’s life of mine at a minimum of nine years while only having three to four years of internally delineated resource at that time. Today, July 1, 2020, marks the milestone of one full decade of production from the OMU exceeding the Company’s then nine-year 2010 mine life estimate. With approximately four years of current proven and probable reserves, there is a strong possibility of a second decade of production ahead for the OMU. The Arista mine has grown extensively over the past decade with the discovery of numerous vein systems and a geologic structural setting conducive for possible new vein system discoveries. Discoveries to date represent approximately only 2% of the Company’s 560 square kilometer land package along a 55-kilometer mineralized trend with potential to not only expand existing deposits but discover new ones as well. The Company’s philosophy of dividend distributions has remained intact over the last decade with 120 consecutive monthly dividend distributions since July 1, 2010. Shareholders have received over $114 million in dividends since July of 2010, which represents approximately 10% of revenues generated. “A decade of production success marks a milestone from our Oaxaca Mining Unit and is the ultimate triumph over the numerous mining industry challenges and metal market volatility over that time frame,” stated Gold Resource Corporation’s CEO and President, Mr. Jason Reid. “To return ten percent of total gross revenues back to shareholders in dividends is a second milestone few...