Business
Gold Resource Reports Mid-Year Operational Results
Maintains 2023 Production Guidance DENVER / Jul 26, 2023 / Business Wire / Gold Resource Corporation (NYSE American: GORO) (the “Company”) is pleased to announc
About this update from Gold Resource Corporation
[{"type":"text","content":"Maintains 2023 Production Guidance DENVER / Jul 26, 2023 / Business Wire / Gold Resource Corporation (NYSE American: GORO) (the “Company”) is pleased to announce its mid-year and quarterly operational results from its Don David Gold Mine (DDGM) near Oaxaca, Mexico, and a corporate update on its other activities. Year to Date Highlights Include: Produced and sold 10,795 ounces of gold and 569,072 ounces of silver Produced and sold 6,201 tonnes of zinc, 659 tonnes of copper, and 2,734 tonnes of lead Total cash cost after co-product credits for the quarter was $1,333 per gold equivalent ounce Cash balance of $18 million with no debt and working capital of $20.8 million at June 30, 2023 “While our quarterly results are lower when compared to last year’s environment of higher base metal prices, our operational results to date remain in line with our 2023 mine plan and guidance,” stated Allen Palmiere, President and CEO for the Company. “Factors that are out of our control and affect our bottom line include a strengthening Mexican Peso to the US dollar, increased local power costs and lower metal prices for our co-product metals of copper, lead and zinc. To offset these factors, we continue to identify and implement opportunities for other cost reductions and operational efficiencies. We are pleased to report that we continue to have encouraging drill results from our underground exploration program at DDGM with the goal to increase the average grade of our life of mine resources and that of our 2024 mine plan.” Second Quarter Operational Results Don David Gold Mine No lost time incidents during the quarter. Our year-to-date LTIFR safety record is 0.22 as compared to the Mexican average of 0.88 (in US equivalent). Safety at Gold Resource Corporation is paramount. Even with a good track record at the Don David Gold Mine (“DDGM”), the Company continues to strive each quarter for improved measures, awareness, and training. The DDGM diamond drilling program has progressed as planned during the second quarter with encouraging results. Drilling continues to advance at DDGM on two fronts: (1) Infill drilling with the objective of upgrading defined Inferred resources to the Indicated category; and (2) Exploration drilling with the objective of identifying additional Inferred resources via step-out drilling along the South Soledad, Sagrario, M...