Business
Gold Resource Corporation Reports Robust Financial Results For Q3 and First Nine Months of 2021
$18.9 MILLION INVESTED IN DON DAVID GOLD MINE WATER FILTRATION PLANT AND DRY STACK TAILINGS FACILITY 95% COMPLETE - COMMISSIONING EXPECTED BEFORE YEAR END OPERA
About this update from Gold Resource Corporation
[{"type":"text","content":" $18.9 MILLION INVESTED IN DON DAVID GOLD MINE WATER FILTRATION PLANT AND DRY STACK TAILINGS FACILITY 95% COMPLETE - COMMISSIONING EXPECTED BEFORE YEAR END OPERATING CASH FLOW OF $21.9 MILLION YEAR-TO-DATE CASH OF $29.5 MILLION AT SEPTEMBER 30, 2021 FULLY FUNDED GROWTH WITH ACQUISITION OF BACK FORTY PROJECT DENVER, CO / ACCESSWIRE / October 27, 2021 / Gold Resource Corporation (NYSE American:GORO) (the \"Company\", \"We\", \"Our\" or \"GRC\") earned net income of $1.5 million or earnings of $0.02 per share reflecting the significantly higher gold grades mined and processed during the quarter, offset by fewer tonnes processed due to the temporary shutdown of operations due to COVID-19. Revenues were strong at $29.0 million. Cash flow from operating activities was $5.7 million in the third quarter of 2021 bringing our cash balance at September 30, 2021 to $29.5 million, an increase of $4.1 million for the first nine months of 2021. The Don David Gold Mine produced and sold a total of 9,170 gold equivalent ounces, comprising 5,809 gold ounces and 255,394 silver ounces sold at an average price per ounce of $1,762 and $23, respectively. Total cash cost was $466 per ounce of gold equivalent (after co-product credits) and all-in sustaining cost was $1,031 per ounce of gold equivalent (after co-product credits) for the third quarter 2021. Allen Palmiere, President and CEO said \"Our operations team rose to the challenge this quarter when a spike in COVID-19 cases led us to temporarily ramp down operations in mid-August and early September to keep everyone healthy and safe. In addition, we reinvested $7.7 million into exploration and infrastructure improvements at the Don David Gold Mine, bringing our year-to-date investment to $18.9 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 water filtration plant and dry stack tailings facilities is 95% complete. The dry stack facilities will conserve and recirculate water, eliminate risks related to traditional tailings facilities, accelerate reclamation of certain areas of the open pit mine, and extend the life of the operations. While I've said this before it bears repeating, our strong operating cash flow per share and dividend yield puts us among the t...