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Gold Resource Corporation Reports Second Quarter Results
COLORADO SPRINGS, CO, Aug. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company” or “GRC”) reported co
About this update from Gold Resource Corporation
[{"type":"text","content":" COLORADO SPRINGS, CO, Aug. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company” or “GRC”) reported consolidated production results for the second quarter ended June 30, 2020 of 7,649 ounces of gold and 191,232 ounces of silver. In addition to precious metals, the Company produced base metals resulting in consolidated net revenue of $21.1 million for the quarter. At the beginning of the second quarter, the Company’s Oaxaca Mining Unit was placed on care and maintenance as the Mexican government declared a country-wide health emergency and mandatory non-essential business suspension due to the novel coronavirus (COVID-19) global pandemic. The Company was granted approval to restart operations on May 27, 2020 after nearly eight weeks of being shut down during the second quarter. Operations were reinstated, along with a stringent employee illness protocol and screening process, and have gradually ramped up during the months of June and July. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $114 million to its shareholders in 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. Q2 2020 HIGHLIGHTS $21.1 million net sales; $13.3 million cash balance at June 30, 2020, an increase from the December 31, 2019 balance of $11.1 million; Working capital of $33.6 million, an increase of 48% from December 31, 2019; Maintained a strong balance sheet during Mexico operations suspension; Consolidated production of 7,649 gold ounces and 191,232 silver ounces; Successful restart of Mexican operations following nearly two-month suspension; Acquisition of the Golden Mile project in Nevada, an advanced exploration property in the highly prospective Walker Lane Trend; Isabella Pearl gold production increase of 41% over Q1 2020; $4.7 million gold and silver bullion inventory; and $0.01 per share dividend distribution for quarter. Overview of Q2 2020 Results Second quarter production from the Company’s Nevada Mining Unit (NMU) totaled 5,208 ounces of gold, an increase of 41...