Proactive Investors - Run By Investors For Investors

Gold Resource Corporation posts net income of $0.9mln in second quarter; maintains 2017 output guidance

GORO repeated guidance of 27,500 ounces of gold and 1.85mln ounces of silver, plus or minus 5%.
Gold Resource Corporation posts net income of $0.9mln in second quarter; maintains 2017 output guidance
Pictured - a gold pour

Precious metals producer Gold Resource Corporation (NYSE: GORO) milled 113,790 tonnes in the three months to end June, compared to 104,333 tonnes in the same period last year.

The second quarter saw the firm's Aguila mine in Mexico produce 5,696 ounces of gold, 397,670 ounces of silver, 294 tonnes of copper, 1,207 tonnes of lead and 4,176 tonnes of zinc.

This was down on the same period last year, apart from lead and zinc of which there was an increase in tonnage.

GORO has repeated its annual guidance for 2017 of 27,500 ounces of gold and 1.85mln ounces of silver, plus or minus 5%.

Sales for the three months came in at $21,391 (2016: $26,198), while net income was $864,000 (2016: $5,608).

The total all in cost of precious metal gold equivalent ounce sold was $770 against $547 in the same period last year.

Production totals for the first six months included 12,443 ounces of gold, 825,560 ounces of silver, 514 tonnes of copper, 2,134 tonnes of lead and 6,820 tonnes of zinc.

The group has returned $110 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

View full GORO profile View Profile

Gold Resource Corporation Timeline

October 30 2017

Related Articles

July 27 2017
David Busch discussed exploration plans at Proactive's CEO Sessions.
gold bars
September 18 2017
Shanta Gold's recent production ramp-up in Tanzania is unlikely to be derailed by the current uncertainty there
molten gold being poured
October 20 2017
Pan African hopes to be in production at Elikhulu in the final quarter of next year.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use