Metals explorer Gold Resource Corporation (NYSE:GORO) has told investors that gold production increased in the first quarter of the year.
Preliminary first quarter production at the firm’s Oaxaca mining unit in Mexico totalled approximately 6,746 ounces (oz) of gold, compared to 6,463oz for the same period in 2016.
Lead production also increased to 927 tonnes (Q1 2016: 838 tonnes), although silver production (Q1 2017: 427,890oz) and copper production (Q1 2017: 220 tonnes) posted slight year-on-year falls in the three months to March 31.
Gold Resource Corp said it is still on track to produce 27,500oz of gold and 1.85mln oz of silver in 2017.
Shares fell 4% to US$3.90 on Wednesday morning.