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Gold Resource Corporation Reports Robust Financial Results and Strong Balance Sheet for the Year-Ended December 31, 2021
DENVER / Mar 10, 2022 / Business Wire / Gold Resource Corporation (NYSE American: GORO) (the “Company”, “We”, “Our” or “GRC”) produced and sold 22,644 gold ounc
About this update from Gold Resource Corporation
[{"type":"text","content":"DENVER / Mar 10, 2022 / Business Wire / Gold Resource Corporation (NYSE American: GORO) (the “Company”, “We”, “Our” or “GRC”) produced and sold 22,644 gold ounces, 1,066,581 silver ounces, 1,420 copper tonnes, 5,999 lead tonnes and 13,553 zinc tonnes. For the year ended December 31, 2021, we reported net income of $8.0 million with revenue of $125.2 million and mine gross profit of $36.7 million from operations. Allen Palmiere, President and CEO said, “Our operations delivered excellent results during a transformative year. We reinvested $6.6 million into exploration and infrastructure improvements at the Don David Gold Mine during the fourth quarter, bringing our year-to-date investment to $25.5 million. Our investment in Mexico is focused on favorably impacting our environment, social and governance programs while creating operational efficiencies and longevity. Construction of the filter press plant and dry stack tailings facilities is now complete. The dry stack facilities will conserve and recirculate water, eliminate risks related to traditional tailings facilities, accelerate reclamation of the open pit mine, and extend the life of the operations. Our strong operating cash flow per share and dividend yield puts us among the top of our peer group which is currently not reflected in our share price.” On December 10, 2021, The Company completed the acquisition of all the issued and outstanding common shares of Aquila Resources Inc. Aquila’s principal asset is its 100% interest in the Back Forty Project located in Menominee County, Michigan, USA. The Back Forty Project has a polymetallic (gold, silver, copper, silver, lead and zinc) Volcanogenic Massive Sulfide deposit. The Back Forty Project controls surface and mineral rights through ownership, leases with the State of Michigan, and royalties with private parties. 2021 HIGHLIGHTS Additional highlights for the year ended December 31, 2021, are summarized below: Strategic In December, the Company successfully completed the acquisition of all the issued and outstanding common shares of Aquila Resources Inc., the owner of the Back Forty Project. The Back Forty Project is an advanced exploration stage property in Michigan, USA, for which the Company is currently preparing a definitive feasibility study. $3.4 million was distributed in shareholder dividends, totaling over $119 mi...