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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.

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