http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Sat, 22 Sep 2018 17:46:05 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Gold Resource Corp reports finding high-grade deposits and possible expansion of Mirador mine ]]> http://www.proactiveinvestors.com/companies/news/205135/gold-resource-corp-reports-finding-high-grade-deposits-and-possible-expansion-of-mirador-mine-205135.html Gold Resource Corporation (NYSEMKT:GORO) announced Tuesday the drill highlights from its 2018 Alta Gracia drill program at its Oaxaca mine in Mexico, which may lead to an expansion of its mining operations.

“Our 2018 drill campaign at Alta Gracia was a success on many fronts, particularly the discovery of a wide, high-grade zone within the Independencia vein system and the potential expansion to the Mirador mine," said Barry Devlin, the company's vice-president of exploration.

"We also continue to see elevated levels of silver in the Mirador vein, as well as high-grade gold and silver within the Victoria vein system. We look forward to returning to Alta Gracia in 2019 with another drill program to continue expanding on these positive drill results.”

The highlights of the program are a grading of 10.3 meters which revealed 0.85 grams per tonne (g/t) of gold and 1,052 g/t of silver, and 9.59 meters grading that showed 0.36 g/t gold and 430 g/t silver. 

The Alta Gracia Project, which hosts the Mirador mine, is located approximately 16 kilometers northwest of the company’s Aguila Project and mineral processing plant.

READ: Gold Resource second-quarter results driven by increased gold and silver production

The 2018 Alta Gracia surface drill campaign tested several target areas focusing primarily on the Independencia and Victoria veins, both of which were categorized as potential expansion areas for the actively producing Mirador Mine.

"The company believes it has discovered a wide, high-grade silver ore shoot within the Independencia vein, and a significant potential expansion to the Mirador mine. The company is evaluating whether to develop this portion of the Independencia vein for mineral exploitation by improving and extending historic mine workings in this area," Goro said in a statement.

Nine exploration drill holes targeted the Independencia vein, located approximately 500 meters southwest along strike from the Mirador mine. 

Three exploration drill holes targeted the Victoria vein system, all which intercepted high-grade silver. In addition, four exploration drill holes targeted the Mirador vein system, which included the Mirador, Jarillas and Pitayos veins. Each drill hole intercepted multiple parallel veins returning high-grade silver.

The Alta Gracia Project is one of six potential high-grade gold and silver properties in the Oaxaca Mining Unit, which includes over 684 square kilometers in southern Mexico. The Mirador mine is the company’s second operating mine, which began production in mid-2017.

Gold Resource Corp is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada.

The company targets low capital expenditure projects with potential for generating high returns on capital. Gold Resource is based in Colorado Springs, Colorado. 

The stock was up slightly to US$5.12 in morning trade.

--Updates shares--

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Tue, 18 Sep 2018 08:30:00 -0400 http://www.proactiveinvestors.com/companies/news/205135/gold-resource-corp-reports-finding-high-grade-deposits-and-possible-expansion-of-mirador-mine-205135.html
<![CDATA[News - Gold Resource second-quarter results driven by increased gold and silver production ]]> http://www.proactiveinvestors.com/companies/news/201958/gold-resource-second-quarter-results-driven-by-increased-gold-and-silver-production-201958.html Gold Resource Corp (NYSEAMERICAN:GORO) saw its earnings and revenue grow in its second quarter, driven by increased production of gold and silver, as well as strong base-metal sales.

The Colorado-based miner said late Tuesday that it produced 5,806 ounces of gold in the quarter ended June 30, up from 5,696 in the corresponding period a year earlier, and 593,955 ounces of silver, up from 397,670.  

Combined with sales of base metals, the company booked net income of US$3.8mln in the quarter, or US$0.07 per share, on revenue of US$30.8mln, compared with net income of US$864,000, or EPS of US$0.02, on sales of US$21.4mln.

BIG PICTURE: Gold Resource praises seventh consecutive year of profitability

The miner realized a $70 total cash cost per precious-metal-gold-equivalent ounce sold after by-product credits. Cash and equivalents came to US$26.6mln, accompanied by US$3.7mln worth of gold and silver bullion.

The company also maintained its 2018 outlook of plus or minus 10% production of 27,000 gold ounces and 1,700,000 silver ounces.

Finally, Gold Resource said it received the final permit to begin construction of its Isabella Pearl Gold Project in Nevada.

Shares of the mining company closed at US$6.55 Tuesday and were flat in extended trading.

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Tue, 31 Jul 2018 17:35:00 -0400 http://www.proactiveinvestors.com/companies/news/201958/gold-resource-second-quarter-results-driven-by-increased-gold-and-silver-production-201958.html
<![CDATA[News - Gold Resource expands Arista mine in Mexico with new drilling ]]> http://www.proactiveinvestors.com/companies/news/201063/gold-resource-expands-arista-mine-in-mexico-with-new-drilling-201063.html Gold Resource Corporation (NYSE:GORO) has announced the succesful expansion of the Arista and Switchback vein systems at its Arista mine in Oaxaca, Mexico.

The company’s progress included the extension of the Switchback vein’s strike length by 100 meters as well as the discovery of a new vein in its Arista vein system.

Drill hole intercepts at Switchback included 23.39 meters of 2.00 grams per tonne (g/t) gold and 200g/t silver; and 9.94 meters of 2.16 g/t gold and 95 g/t silver, which expands Switchback’s strike length by roughly 100 meters.

Elsewhere at the property, a new vein discovered in the Arista vein system hit 2.08 meters of 1.98 g/t gold and 1,583 g/t silver.

Gold Resource’s Arista underground mine is located at the company’s El Aguila project in the southern state of Oaxaca, Mexico.

Read: Gold Resource kicks off construction at its flagship Isabella Pearl gold project in Nevada

“Our exploration team continues to do an excellent job expanding the Arista Mine’s multiple vein systems,” said Jason Reid, president and CEO of Gold Resource.

“While the Switchback vein system continues to extend on strike, it is great to see new veins being discovered at the Arista vein system as well,” he added.

Read: Gold Resource Corp unveils encouraging latest drill results from Mina Gold property

In other news, Gold Resource is nearing the completion of its first underground drill station on the north-east side of the Switchback vein system.

The station will offer shorter drill distances and allow Gold Resource’s team to drill untested targets east and north-east of the current Switchback system.

Development of the Arista mine began in 2009, and initial production from the deposits started in March of 2011. The Arista deposit consists of two distinct vein systems- the Arista and the Switchback.

Gold Resource, which has operations in Oaxaca, Mexico and Nevada, has returned US$111mln to its shareholders in monthly dividends since its production efforts began in July of 2010. It offers shareholders the option to convert their cash dividends into physical gold and silver.

The company is maintaining its annual production outlook this year of 27,000 gold ounces and 1.7mln silver ounces, give or take 10%.

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Wed, 18 Jul 2018 09:16:00 -0400 http://www.proactiveinvestors.com/companies/news/201063/gold-resource-expands-arista-mine-in-mexico-with-new-drilling-201063.html
<![CDATA[News - Gold Resource Corp unveils encouraging latest drill results from Mina Gold property ]]> http://www.proactiveinvestors.com/companies/news/200863/gold-resource-corp-unveils-encouraging-latest-drill-results-from-mina-gold-property-200863.html Gold Resource Corp (NYSE:GORO) Monday announced phase two drill highlights from its Mina Gold property in  Nevada, which revealed high-grade gold.

Mina Gold’s near surface high-grade gold intercepts included 15.24 meters (m) of 3.34 grams per tonne (g/t) of gold from surface and 12.19m of 2.98 g/t gold from 6.10 m downhole.

“Phase two drill results from the Mina Gold property continue to validate the company's phase one and historic near surface, high-grade gold results," Barry Devlin, vice-president of exploration, told investors.

"It is encouraging to see the continued definition of high-grade gold associated with thicker zones at Mina," he added.

Mina Gold covers an area of roughly 825 acres consisting of 43 unpatented claims and five patented claims in central Nevada’s Walker Lane Mineral belt.

Gold Resource is currently developing a Phase three drill campaign to target and expand its mineralized zones at the property.

Read: Gold Resource’s Nevada project more than doubles group gold reserves

The firm also revealed today it was terminating its option to purchase the Gold Mesa property in Nevada and will instead focus its resources on its four Nevada Mining unit properties that are 100% company-owned.

“It is often difficult to walk away from a property with high-grade gold, but our analysis of the expansion potential of the known mineralization at Gold Mesa makes the decision for us,” explained CEO Jason Reid in a statement. “We feel we have more prospective properties in our portfolio to allocate capital towards.”

The company’s Nevada mining unit consists of its flagship Isabella Pearl project, which is set to see its first gold production by the second quarter of next year and the Mina Gold, East Camp Douglas and County Line properties, which are in various stages of exploration.

The Nevada unit covers more than 25,000 acres in south central Nevada’s Walker Lane Mineral belt.

Read: Gold Resource kicks off construction at its flagship Isabella Pearl gold project in Nevada

In a separate statement Monday, Gold Resource Corporation reported an array of preliminary productions results for its fiscal second quarter.

Over the three months until the close of June, the Colorado Springs, Colorado-based company produced 5,806 ounces of gold, 593,955 ounces of silver as well as 387 tonnes of copper, 1,540 tonnes of lead and 4,473 tonnes of zinc.

Looking at the first half of the year, the results are even more robust. In the first six months, Gold Resource produced 12,453 ounces of gold, 1,019,839 ounces of silver, 772 tonnes of copper, 3,155 tonnes of lead and 9,266 tonnes of zinc.

The company is maintaining its annual production outlook this year of 27,000 gold ounces and 1.7mln silver ounces, give or take 10%.

Gold Resource maintains operations in Oaxaca, Mexico as well as Nevada. It targets low capital expenditure projects that have the potential for generating high returns on capital.

Gold Resource has returned US$111mln to its shareholders in monthly dividends since it began production on July 1, 2010. It also offers shareholders the option to convert cash dividends into physical gold and silver.

Shares added over 4% to US$7.17.

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Mon, 16 Jul 2018 08:34:00 -0400 http://www.proactiveinvestors.com/companies/news/200863/gold-resource-corp-unveils-encouraging-latest-drill-results-from-mina-gold-property-200863.html
<![CDATA[News - Gold Resource kicks off construction at its flagship Isabella Pearl gold project in Nevada ]]> http://www.proactiveinvestors.com/companies/news/199139/gold-resource-kicks-off-construction-at-its-flagship-isabella-pearl-gold-project-in-nevada-199139.html Gold Resource Corporation (NYSE American:GORO) today announced that it has at last kicked off construction on its Isabella Pearl open pit heap leach gold project in Mineral County, Nevada.

With its operations now in full swing, gold production from Isabella Pearl is now expected within 12 months, according to Jason Reid, Gold Resource’s chief executive and president.

“Mine construction commencement at the Isabella Pearl Project marks a very exciting time for Gold Resource Corporation and its shareholders,” Reid said in a statement. “This Project is an important driver of Gold Resource Corporation’s growth profile, which includes targeting a more than 100% increase to our annual gold production from Isabella Pearl’s first full year of commercial production.”

Construction activities at the project began at the start of the week, with its contractor Ledcor Group starting clearing and grubbing operations in preparation for heap leach pad construction.

Processing equipment, including the crushing plant and radial stackers stored in a nearby laydown yard, are being prepared for transport to the Project site. Also, the first of two previously drilled water wells has had its pump set and is prepared to supply water on site.

The Isabella Pearl Gold project is Gold Resource’s flagship property in its Nevada mining division and is located in south-central Nevada’s Walker Lane Mineral Belt in Mineral County, Nevada. Proven and probable reserves at Isabella Pearl total 192,600 gold ounces and its targeted recovery is expected to be 153,000 gold ounces after dilution and recovery estimates over a current four-year mine life.

Read: Gold Resource wins key environmental permit for its Isabella Pearl gold project

Annual gold production estimates are set at 29,000 ounces in the first year and 41,000 ounces in the second and third years, respectively. That estimate rises to 42,000 ounces in the fourth year.

An average cost of roughly US$650 per ounce is estimated over the initial four-year mine life, with annual costs projected to decline year over year as higher grades are mined and strip ratios decrease.

The management team at Gold Resource expects to add to the Isabella Pearl Project’s reserves with future exploration drilling and has identified Scarlet and Civit Cat North, two new exploration targets within its permitted mine plan. There are also numerous exploration targets outside of the mine plan where historic open pits are located.

Gold Resource maintains operations in Oaxaca, Mexico and Nevada. It has returned US$111mln to shareholders since commercial production began in July of 2010 and it offers its shareholders the chance to convert their cash dividends into physical gold and silver.

Gold Resource shares are trading 2.4% lower at US$6.14 in pre-market trade.

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Tue, 19 Jun 2018 08:55:00 -0400 http://www.proactiveinvestors.com/companies/news/199139/gold-resource-kicks-off-construction-at-its-flagship-isabella-pearl-gold-project-in-nevada-199139.html
<![CDATA[Media files - Gold Resource CEO confident the Isabella Pearl project in Nevada will more than double its gold production ]]> http://www.proactiveinvestors.com/companies/stocktube/9542/gold-resource-ceo-confident-the-isabella-pearl-project-in-nevada-will-more-than-double-its-gold-production-9542.html Mon, 11 Jun 2018 13:23:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/9542/gold-resource-ceo-confident-the-isabella-pearl-project-in-nevada-will-more-than-double-its-gold-production-9542.html <![CDATA[News - Gold Resource wins key environmental permit for its Isabella Pearl gold project ]]> http://www.proactiveinvestors.com/companies/news/197017/gold-resource-wins-key-environmental-permit-for-its-isabella-pearl-gold-project-197017.html Gold Resource Corporation (NYSE American: GORO) is closer to kicking off production at its Isabella Pearl open pit heap leach gold project in Mineral County, Nevada as it now has its final permits in place.

The gold and silver producer today revealed that it has been granted a positive decision on the environmental assessment for the Isabella Pearl Project. This news means that it can move the project into production, which marks a big achievement.

In addition to obtaining the environmental permit, the Colorado-based company’s project has also been signed off on by the Bureau of Land Management and Nevada’s Department of Environmental Protection.

As a result, the company has all the regulatory approvals necessary to construct, operate and pour dore at the Isabella Pearl project.

The total construction time to build the Isabella Pearl project is estimated to take less than 12 months from the point of breaking ground.

“We are pleased to have successfully navigated the permitting process and now shift our efforts to construction of our first Nevada gold project, the Isabella Pearl,” said Jason Reid, Gold Resource’s chief executive and president. “We are currently in a strong cash position and focused on completing this project with cash and cash flow if possible.”

 Executives with Gold Resources say that Isabella Pearl project’s proven and probable gold reserve amount to 192,600 gold ounces and they are targeting it to produce roughly 153,000 gold ounces over an initial four-year life of the mine.

The company’s executives plan to add to Isabella Pearl’s reserves with exploration drilling and have identified two new exploration targets within the permitted mine plan, Scarlet and Civit Cat North.

Initial capital expenditure for the project is expected to be US$30mln and the company has already spent roughly US$10mln on the project, having paid for a new Telsmith crusher, conveyors and a dore process plant.

READ: Gold Resource announces positive first-quarter results as earnings, revenue and cash increase

The company’s board has approved moving the Isabella project forward immediately by at first drawing on its reserves of US$28.6mln. Any future capital expenditure is set be funded from cash and operational monthly cash flow.

The company’s management is inching towards the first ground-breaking at Isabella as soon as possible after the required project bond is in place. 

Gold Resource Corporation maintains operations in Oaxaca, Mexico and Nevada. It has returned US$110mln back to shareholders since its commercial production began back in July of 2010 and it offers its shareholders the chance to convert their cash dividends into physical gold and silver.

Its shares closed at US$5.40 on Monday.

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Tue, 15 May 2018 08:36:00 -0400 http://www.proactiveinvestors.com/companies/news/197017/gold-resource-wins-key-environmental-permit-for-its-isabella-pearl-gold-project-197017.html
<![CDATA[News - Gold Resource announces positive first-quarter results as earnings, revenue and cash increase ]]> http://www.proactiveinvestors.com/companies/news/196189/gold-resource-announces-positive-first-quarter-results-as-earnings-revenue-and-cash-increase-196189.html Gold Resource Corporation (NYSE:GORO) announced its first-quarter earnings after the bell on Tuesday.

The gold and silver producer reported earnings of US$0.10 per share on revenue of $32.2mln compared with US$0.08 EPS on revenue of US$24.3mln in the last year’s first quarter.

The company has US$28.6million in cash, an increase of US$6.2mln.

Gold Resource produced 6,647 gold ounces and 425,884 silver ounces.

READ: Gold Resource praises seventh consecutive year of profitability; updates mineral reserve at Oaxaca once again

In 2017, all of the production tonnage came from the Oaxaca Mining Unit, which consists of a group of six properties in the southern state of Oaxaca, Mexico, although it does operate in Nevada as well.

The Aguila project is the flagship operation and home to the Arista underground deposit – gold, silver, copper, lead and zinc – which accounted for 90% of production tonnage in 2017. The open pit mine at Aguila was responsible for about 8% of total production last year.

READ: Gold Resource shares higher as it expands Arista mineralisation; meets 2017 production targets

The Colorado-based company also has a second underground mine in operation known as the Mirador mine at the Alta Gracia project, which made up the remaining 2% of production tonnage.

In March, Gold Resource revealed an updated mineral reserve for Oaxaca.

Proven and probable reserves at Oaxaca now total 2.5mln tons grading 1.77 grams per ton (g/t) gold and 136 g/t silver. That equates to 142,400 gold ounces and almost 10.93mln silver ounces – a 32% year-on-year increase.

The company maintained its production outlook with a plus or minus 10% production of 27,000 gold ounces and 1.7 million silver ounces.

Shares of the company were up more than 3% to US$5.24 by the closing bell but were flat in pre-market trading.

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Tue, 01 May 2018 09:04:00 -0400 http://www.proactiveinvestors.com/companies/news/196189/gold-resource-announces-positive-first-quarter-results-as-earnings-revenue-and-cash-increase-196189.html
<![CDATA[News - Gold Resource rolls out another monthly dividend ]]> http://www.proactiveinvestors.com/companies/news/195977/gold-resource-rolls-out-another-monthly-dividend-195977.html Gold Resource Corporation (NYSEAmerican:GORO) has declared its monthly instituted dividend of 1/6 of a cent per common share for April 2018.

The dividend will be payable on May 23, 2018 to shareholders of record as of May 11, 2018.

READ Gold Resource praises seventh consecutive year of profitability; updates mineral reserve at Oaxaca once again

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

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Fri, 27 Apr 2018 06:02:00 -0400 http://www.proactiveinvestors.com/companies/news/195977/gold-resource-rolls-out-another-monthly-dividend-195977.html
<![CDATA[News - Gold Resource to present at Rocky Mountain Microcap Conference II in Denver ]]> http://www.proactiveinvestors.com/companies/news/195504/gold-resource-to-present-at-rocky-mountain-microcap-conference-ii-in-denver-195504.html Gold Resource Corp (NYSEAMERICA:GORO) has signed on as a presenter at The Rocky Mountain Microcap Conference II later this month in Denver.

The event, to be held at Coors Field, is hosted by GVC Capital and Dave Lavigne of Trickle Research.

Gold Resource is among a wide array of companies, including AmeriCann Inc. (OTCQX: ACAN), Social Reality Inc. (NASDAQ: SRAX) and OncoSec Medical Inc (NASDAQ: ONCS), scheduled to present before a microcap-centric audience of buyside portfolio managers and high net-worth individuals.

The event takes place April 24. Sponsors are Ibex Investors, Island Stock Transfer, Moss Adams LLP, Polsinelli PC and SMM.Global.

Gold Resource recently released preliminary production results for the first quarter that totaled about 6,647 ounces of gold, 425,884 ounces of silver and significant base metals.

READ: Gold Resource Corp eyeing 27,000 ounces of gold for full year 2018

 

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Fri, 20 Apr 2018 14:33:00 -0400 http://www.proactiveinvestors.com/companies/news/195504/gold-resource-to-present-at-rocky-mountain-microcap-conference-ii-in-denver-195504.html
<![CDATA[News - Gold Resource’s Nevada project more than doubles group gold reserves ]]> http://www.proactiveinvestors.com/companies/news/195376/gold-resources-nevada-project-more-than-doubles-group-gold-reserves-195376.html Gold Resource Corporation (NYSE:GORO), a Colorado-based gold and silver company, announced the results of its reserve reports on Thursday.

Gold Resource’s gold reserves have more than doubled, increasing 135% as a result of its Isabella Pearl gold project in Nevada and a maiden mineral reserve for the property.

“Increasing our gold reserves by 135% with this project will be an important driver of Gold Resource Corporation’s future revenues and growth profile which includes targeting a more than 100% increase to our annual gold production once Isabella Pearl is fully operational,” said CEO Jason Reid in a statement.

Proven and probable reserves for Isabella Pearl include 2,694,500 tonnes grading 2.22 grams per tonne (g/t) gold and 13 g/t silver, equating to 192,600 gold ounces and 1,129,100 silver ounces.

When combined with GORO's Mexico mining unit's December 31, 2017 mineral reserve, the company-wide proven and probable reserve tonnes now total 5,195,600, an increase of 108%, while gold ounces in the proven and probable category total 335,000, an increase of 135%.

READ: Gold Resource Corp eyeing 27,000 ounces of gold for full year 2018

Reid stated that the success of the project could translate to a positive impact on shareholder value. A total of US$110mln has been returned to investors via monthly dividends since the commencement of commercial product in 2010.

In the company’s first quarter, the preliminary production results total to around 6,647 ounces of gold.

Shares of the company jumped 2% in pre-market trading Thursday.

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Thu, 19 Apr 2018 08:19:00 -0400 http://www.proactiveinvestors.com/companies/news/195376/gold-resources-nevada-project-more-than-doubles-group-gold-reserves-195376.html
<![CDATA[News - Gold Resource Corp eyeing 27,000 ounces of gold for full year 2018 ]]> http://www.proactiveinvestors.com/companies/news/195088/gold-resource-corp-eyeing-27000-ounces-of-gold-for-full-year-2018-195088.html Gold Resource Corp. (NYSE:GORO) said its preliminary production results for the first quarter totaled about 6,647 ounces of gold, 425,884 ounces of silver and significant base metals.

The company also had prelminary production of 385 tonnes of copper, 1,615 tonnes of lead and 4,793 tonnes of zinc in the quarter, it said in a statement.   

READ THE BIG PIC - Gold Resource praises seventh consecutive year of profitability; updates mineral reserve at Oaxaca once again

Gold Resource, a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, has returned $110 million to shareholders in monthly dividends since commercial production began on July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

The firm maintains its full-year production outlook of 27,000 gold ounces and 1,700,000 silver ounces, plus or minus 10%. Full financial results for the first quarter will be available when Gold Resources files its quarterly report on Form 10-Q with the US Securities and Exchange Commission.  

 

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Mon, 16 Apr 2018 16:25:00 -0400 http://www.proactiveinvestors.com/companies/news/195088/gold-resource-corp-eyeing-27000-ounces-of-gold-for-full-year-2018-195088.html
<![CDATA[News - Gold Resource Corp expands Arista system with new drilling ]]> http://www.proactiveinvestors.com/companies/news/194629/gold-resource-corp-expands-arista-system-with-new-drilling-194629.html Gold Resource Corp (NYSE: GORO) announced the northwest expansion of the Arista mine’s vein system in Mexico with 12 additional holes.

The gold and silver producer and explorer, has two North American mining units in Mexico and Nevada.

On Monday, the company said it had extended the Arista Vein System with high grade intercepts including 2 meters of 6.68 g/t (grams per ton) gold and 864 g/t (grams per ton) silver.

Other highlights included 8.92m (meters) of 1.68 g/t gold, 51 g/t silver, 0.34% copper, 3.06% lead, and 8.91% zinc.

“It is great to see the Arista vein system’s mineralization expand again to the northwest and both up and down-dip within this swarm of veins, said Barry Devlin, the firm's vice president of exploration.

"The known veins in this area had previously pinched down in width and to see them begin to swell again to form a new ore-shoot, along with adding new additional veins, is exciting.  We look forward to testing the extensions of both these known and yet to be named veins as the Arista Mine continues to grow."

Gold Resource holds an interest in six properties in Oaxaca, Mexico, including the producing Arista mine and Aguila Mill at the El Aguila project.

The company 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.

Gold Resource hit its annual production targets last year, producing 28,117 gold ounces and 1,773,263 silver ounces in the 12 months ended December 31, 2017.

According to analysts, the miner presents a rare opportunity with an excellent balance sheet and high-octane growth anticipated with the new project in Nevada called the Isabella Pearl.

Shares advanced 3.82% to US$4.66 each.

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Tue, 10 Apr 2018 08:11:00 -0400 http://www.proactiveinvestors.com/companies/news/194629/gold-resource-corp-expands-arista-system-with-new-drilling-194629.html
<![CDATA[News - Gold Resource Corp boss praises latest acquisition in Nevada ]]> http://www.proactiveinvestors.com/companies/news/193085/gold-resource-corp-boss-praises-latest-acquisition-in-nevada-193085.html Gold Resource Corporation (NYSEMKT:GORO) boss Jason Reid has praised the recent acquisition of the County Line project in Nevada, claiming the miner has long held an interest in this particular part of the Silver State.

On Monday (March 12), GORO revealed it had paid US$300,000 to Ely Gold Royalties Inc (CVE:ELY) for a 100% interest in the project.

READ: Gold Resource buys County Line project in Nevada for US$300,000

The 2,320-acre plot of land sits around 14 miles north east of the Isabella Pearl project and becomes the fifth property in the company’s Nevada Mining Unit.

 “We are pleased to have acquired the County Line gold property from Ely Gold Royalties,” said Reid in a statement.

“We were very interested in exploring this area in the past, as we believe it to be the most prospective ground around County Line but could not obtain this core land position at that time.

“To be able to now acquire and strengthen this land package is a strong addition to our Nevada Mining Unit.”

History on GORO’s side

County Line is part of the Paradise Peak collection cluster of high sulphidation epithermal deposits.

The district historically produced a total of 1.5mln ounces of gold and 38.9mln ounces of silver, while the County Line open pit historically produced around 81,000 ounces gold and 760,000 ounces silver.

The Porphyry (East) Pit, which is 2,500 feet south east of the County Line pit, produced around 7,400 ounces of gold and 8,000 ounces silver.

While both open pits represent exploration targets, other targets include "Newman Ridge" and the "Jackpot Zone".

The plan for Gold Resource is to explore these new prospective areas of the property, as well as evaluate the potential of delineating and expanding mineralized material in the historic open pits.

During GORO’s due diligence, rock chip samples obtained from the bottom of the County Line pit averaged 2.2 grams per ton (g/t) gold.

Shares closed up 4.5% to US$4.56.

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Tue, 13 Mar 2018 08:26:00 -0400 http://www.proactiveinvestors.com/companies/news/193085/gold-resource-corp-boss-praises-latest-acquisition-in-nevada-193085.html
<![CDATA[News - Gold Resource Corp buys County Line project in Nevada for US$300,000 ]]> http://www.proactiveinvestors.com/companies/news/193013/gold-resource-corp-buys-county-line-project-in-nevada-for-us300000-193013.html Gold Resource Corporation's (NYSE:GORO) Nevada unit has bought a 100% interest in the County Line project in Nevada for USS$300,000 from Ely Gold Royalties Inc (CVE: ELY).

"This is the third high-quality project we have sold to Gold Resource for their Nevada Mining unit," said Jerry Baughman, the president of the subsidiary, which sold the project.

"In anticipation of receiving their final mine permit for the Isabella Pearl project, Gold Resource has acquired long lead-time equipment including a new crushing plant as well as new radial stacking and conveying equipment.

"They have also placed an order of an ADR (absorption, desorption, regeneration) plant, which is over 95% complete and expected to be delivered in mid-2018.

"Ely Gold holds royalties on the key exploration and expansion claims at Isabella Pearl as well as royalties on the historic resources at Mina Gold and County Line, both within hauling distance of Isabella."

The property is around 14 miles north east of the Isabella Pearl Project and becomes the fifth property in GORO's Nevada mining unit.

Ely's subsidiary will retain a net smelter returns royalty of 3% on the property.

GORO will have the right to buy-down 1% of the NSR for a total purchase price of US$1mln.

County Line is part of the Paradise Peak collection cluster of high sulphidation epithermal deposits.

The district historically produced a total of 1.5mln ounces of gold and 38.9mln ounces of silver, while the County Line open pit historically produced around 81,000 ounces gold and 760,000 ounces silver.

The Porphyry (East) Pit, which is 2,500 feet south east of the County Line pit, produced around 7,400 ounces of gold and 8,000 ounces silver.

While both open pits represent exploration targets, other targets include "Newman Ridge" and the "Jackpot Zone".

County Line covers an area of around 429 hectares (1,060 acres) and consists of 53 unpatented lode mining claims and one unpatented placer mining claim.

GORO shares in New York nudged 0.46% lower at US$4.34 each.

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Mon, 12 Mar 2018 12:35:00 -0400 http://www.proactiveinvestors.com/companies/news/193013/gold-resource-corp-buys-county-line-project-in-nevada-for-us300000-193013.html
<![CDATA[News - Gold Resource touts seventh consecutive year of profitability; updates mineral reserve at Oaxaca once again ]]> http://www.proactiveinvestors.com/companies/news/192936/gold-resource-touts-seventh-consecutive-year-of-profitability-updates-mineral-reserve-at-oaxaca-once-again-192936.html Gold Resource Corporation (NYSE:GORO) gave investors a two-for-one after the bell on Thursday after the metals producer heralded a seventh consecutive year of profitability in its 2017 results, while it also updated the mineral reserve at the Oaxaca Mining Unit in Mexico.

GORO – which has operations in Nevada as well – hit its annual production targets last year, producing 28,117 gold ounces and 1,773,263 silver ounces in the 12 months ended December 31.

Net sales of US$110mln

It sold 47,224 ounces of precious metal gold equivalent in 2017 at an average sale price of US$1,267 per ounce gold and US$17.10 per ounce silver, generating net sales of US$110.2mln.

For 2018, the company said it was targeting 27,000 ounces of gold and 1,700,000 ounces of silver plus or minus 10%.

Production results for the second quarter ending on June 30, 2018, reached 5,806 ounces of gold and 593,955 ounces of silver. The six-month total reached 12,453 ounces of gold and 1,019,839 ounces of silver.

The company said in a statement for its second quarter and six month results that the production target for 2018 remains on track. 

Chief executive and president Jason Reid told investors: “During 2017, our company posted annual net income of US$4.2mln or US$0.07 per share.

"That number factors in the US$7.3mln in non-cash new tax law adjustments that lowered our earnings by US$0.13 per share. We also returned US$1.1mln back to our shareholders through dividends and added $8.2mln to our bank accounts, all while continuing to invest in the Company’s future growth in both Mexico and Nevada.

"We once again accomplished all of these highlights without diluting shareholders through equity sales and without going into long-term debt.”

As for the other key numbers, the company recorded a mine gross profit of US$42.1mln, while base metal production generated US$57.6mln in revenue for 2017.

Updated mineral reserve for Oaxaca Mining Unit..

All of the production tonnage in 2017 came from GORO’s Oaxaca Mining Unit – a group of six properties in the southern state of Oaxaca, Mexico.

The Aguila project is the flagship operation and home to the Arista underground deposit – gold, silver, copper, lead and zinc – which accounted for 90% of production tonnage in 2017. The open pit mine at Aguila was responsible for about 8% of total production last year.

GORO also has a second underground mine in operation – the Mirador mine at the Alta Gracia project, which made up the remaining 2% of production tonnage.

In a separate statement after the market close on Thursday, the company revealed an updated mineral reserve for Oaxaca.

Proven and probable reserves at Oaxaca now total 2.5mln tons grading 1.77 grams per ton (g/t) gold and 136 g/t silver. That equates to 142,400 gold ounces and almost 10.93mln silver ounces – a 32% year-on-year increase.

“This is the strongest Oaxaca Mining Unit reserve report our company has recorded to date from a tonnage perspective, significantly increasing the proven and probable mine-life of our Mexican operations,” said CEO Reid.

“We now have an estimated proven and probable mine-life of over 4.5 years, an increase of a full year from the year-end 2016 reserve report.”

READ: Goro expands mineralization at Arista

GORO isn’t stopping there, though. It still holds around 1.8mln tons of mineralized material which it hopes to also convert into proven and probable reserves and exploration efforts are “off to a strong start” this year as it looks to do just that.

“The company recently reported a 300-meter step-out strike expansion to the Switchback vein system, also not included in the 2017 reserve,” added Reid.

“We took the last 15 months entering and developing the known bottom of this exciting vein system. If history is our guide, we look for future additions in both tonnage and grade as we explore and mine upwards on this large epithermal vein system within the expanding Arista Mine.”

The company added that it has also received final permit and began construction of the Isabella Pearl Gold Project, Nevada.

-- The story was updated with the latest production figures and other details --

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Fri, 09 Mar 2018 09:31:00 -0500 http://www.proactiveinvestors.com/companies/news/192936/gold-resource-touts-seventh-consecutive-year-of-profitability-updates-mineral-reserve-at-oaxaca-once-again-192936.html
<![CDATA[News - Gold Resource Corp announces seventh consecutive year of profitability ]]> http://www.proactiveinvestors.com/companies/news/192884/gold-resource-corp-announces-seventh-consecutive-year-of-profitability-192884.html Gold Resource Corporation (NYSE:GORO)  shares nudged up nearly 3% in New York as the metals producer posted 2017 results, which showed a  seventh consecutive year of profitability.

Looking ahead for 2018, the firm said it was targeting 27,000 ounces gold and 1,700,000 ounces silver plus or minus 10%.

Chief executive and president Jason Reid told investors: “During 2017, our company posted annual net income of $4.2mln or $0.07 per share. 

"That number factors in the $7.3mln in non-cash new tax law adjustments that lowered our earnings by $0.13 per share.  We also returned $1.1mln back to our shareholders through dividends and added $8.2mln to our bank accounts, all while continuing to invest in the Company’s future growth in both Mexico and Nevada.

"We once again accomplished all of these highlights without diluting shareholders through equity sales and without going into long-term debt.”

The group achieved annual targets, producing 28,117 gold ounces and 1,773,263 silver ounces.

For the year ended December 31, 2017,  GORO sold 47,224 precious metal gold equivalent ounces at a total cash cost of US$75 per gold equivalent ounce.

Realised 2017 average sales prices were US$1,267 per ounce gold and US$17.10 per ounce silver.

The company recorded revenues of US$110.2mln, mine gross profit of US$42.1mln, and net income of US$4.2mln, or US$0.07 per share. Base metal production generated US$57.6mln in revenue for 2017.

 

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Thu, 08 Mar 2018 17:04:00 -0500 http://www.proactiveinvestors.com/companies/news/192884/gold-resource-corp-announces-seventh-consecutive-year-of-profitability-192884.html
<![CDATA[News - Gold Resource shares higher as it expands Arista mineralisation; meets 2017 production targets ]]> http://www.proactiveinvestors.com/companies/news/190552/gold-resource-shares-higher-as-it-expands-arista-mineralisation-meets-2017-production-targets-190552.html Gold miner Gold Resource Corporation (NYSE:GORO) says latest drill assays have expanded its Arista mine’s Switchback vein system in Mexico to a total strike of over 900 metres (m).

That's an increase of 600m since the beginning of 2017.

READ: Gold Resource Corporation declares December dividend

Thirteen step-out holes were sunk and highlights included 11.35 meters of 4.19 grams per tonne (g/t) gold and 114 g/t silver and 5.53% zinc.

There was also 3.16 meters of 4.43 g/t gold, 184 g/t silver and 3.48% zinc.

"It is very encouraging to see the continued expansion of this system through multiple mineralized veins, as our drill program extends multiple mineralized veins to the north-west under Switchback ridge, where the surface expression of these vein structures was first observed," said Barry Devlin, vice-president of exploration at GORO.

"Our future exploration programs will continue to target the expansion and infill drilling of this growing epithermal vein system that remains open in all directions.”

READ: Gold Resource Corporation reports higher net income and sales in third quarter

Jason Reid, the president and chief executive of GORO, added: "At the beginning of 2017, this vein system had a defined strike length of just 300 meters. In just 12 months, this growing system’s strike length now extends to over 900 meters, an increase of 600 meters or 200%."

He said: "It is exciting to watch the Arista mine continue to grow and expand.”

On Monday this week, GORO said it saw output of around 28,117 gold ounces and 1,773,263 silver ounces for the 2017 year, which met its annual gold and silver production target ranges (with gold at the upper end).

“Our Oaxaca mining unit’s operations team delivered another year of solid production results for 2017,” Reid had said.

"In addition to achieving annual precious metal production targets, the team successfully targeted and mined base metal rich areas of the Arista mine to take advantage of multi-year high base metal prices which generated substantial additional revenue for the year. 

"The team also executed on the development of the Arista Mine’s Switchback vein system, delivering on our goal to achieve over one year of Switchback mine development prior to commissioning bulk tonnage mining techniques. With five levels now developed at Switchback, the company expects to begin first stoping operations during the first quarter of 2018.”

READ: Gold Resource Corp says Alta Gracia drill results augur well for Mirador mine

Reid also noted that in 2017, in Nevada, the firm acquired the highly prospective 5,500 acre East Camp Douglas exploration property, and added a significant number of additional claims to the Isabella pearl project, which now encompasses more than 9,000 acres. 

"Our Nevada team continues to work hard pushing the Isabella Pearl Project’s permitting forward, with a goal of pouring first gold by the end of 2018 subject to receiving the requisite permits in the near future," he said.

GORO shares added 1.41% to US$5.04 after hours in New York.

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Wed, 24 Jan 2018 08:46:00 -0500 http://www.proactiveinvestors.com/companies/news/190552/gold-resource-shares-higher-as-it-expands-arista-mineralisation-meets-2017-production-targets-190552.html
<![CDATA[News - Gold Resource Corporation declares December dividend ]]> http://www.proactiveinvestors.com/companies/news/189477/gold-resource-corporation-declares-december-dividend-189477.html Gold miner Gold Resource Corporation (NYSE: GORO) has declared its December 2017 dividend at one sixth of a cent per share.

The divi is payable  on January 23 this year to shareholders of record as at January  11  this year.

The miner has operations in Oaxaca, Mexico and Nevada, USA. and has returned an impressive $110 million to shareholders in monthly dividends since commercial production started on July 1, 2010.

It also offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

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Wed, 03 Jan 2018 14:59:00 -0500 http://www.proactiveinvestors.com/companies/news/189477/gold-resource-corporation-declares-december-dividend-189477.html
<![CDATA[News - Gold Resource Corporation reports higher net income and sales in third quarter ]]> http://www.proactiveinvestors.com/companies/news/186607/gold-resource-corporation-reports-higher-net-income-and-sales-in-third-quarter-186607.html Mexico and Nevada-focused miner Gold Resource Corporation (NYSE:GORO) reported net income of US$4.6mln in its third quarter, up from US$1.6mln in the same period last year.

Sales were US$31.1mln, compared to US$21.3mln in the same period last year.

Output was 6,465 gold ounces versus 6,066 ounces last year and 392,153 silver ounces against 431,335 ounces last year.

The total all-in sustaining cost (AISC) per precious metal gold equivalent ounce sold was US$639, compared to US$757 in the same period last year.

Its Aguila project sold 10,573 precious metal gold equivalent ounces at a total cash cost of US$2 per ounce (after by-product credits), benefiting from strong base metal production and sales.

The average realized metal prices during the quarter included US$1,289 per ounce of gold and $17.00 per ounce of silver.

Last month, the company said that for the first nine months of 2017, the miner produced around 18,908 ounces of gold, 1,217,713 ounces of silver, 804 tonnes of copper, 3,583 tonnes of lead and 11,447 tonnes of zinc.

Its annual outlook is 27,500 gold ounces and 1,850,000 silver ounces, plus or minus 5%.

GORO has returned US$110mln to shareholders in monthly dividends since commercial production began on July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

GORO shares were unchanged at US$3.63 at the time of writing.

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Wed, 01 Nov 2017 16:21:00 -0400 http://www.proactiveinvestors.com/companies/news/186607/gold-resource-corporation-reports-higher-net-income-and-sales-in-third-quarter-186607.html
<![CDATA[News - Gold Resource Corp declares October divi ]]> http://www.proactiveinvestors.com/companies/news/186445/gold-resource-corp-declares-october-divi-186445.html Gold miner Gold Resource Corporation (NYSE: GORO) has declared its October dividend at one sixth of a cent per share.

The divi is payable  on November 24 this year to shareholders of record as at November 13 this year.

The miner has operations in Oaxaca, Mexico and Nevada, USA. and has returned an impressive $110 million to shareholders in monthly dividends since commercial production started on July 1, 2010.

It also offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

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Mon, 30 Oct 2017 14:25:00 -0400 http://www.proactiveinvestors.com/companies/news/186445/gold-resource-corp-declares-october-divi-186445.html
<![CDATA[News - Gold Resource Corp says Alta Gracia drill results augur well for Mirador mine ]]> http://www.proactiveinvestors.com/companies/news/186209/gold-resource-corp-says-alta-gracia-drill-results-augur-well-for-mirador-mine-186209.html Miner Gold Resource Corporation (NYSE:GORO) said this year's drill program at the Alta Gracia property in Mexico had underscored the prospectivity of the site.

Alta Gracia is one of six potential high-grade gold and silver properties in the firm's Oaxaca mining unit, which includes over 684 sq km in southern Mexico and plays host to the Mirador Mine, GORO's second operating mine, which began production in mid-2017.

READ- Gold Resource Corporation produces 6,465 ounces of the yellow metal in third quarter READ - Gold Resource Corp finds more high grades at its Gold Mesa property

Highlights from Alta Gracia include 1.29 meters (m) at a grade of 4.33 grams per tonne (g/t) gold and 1,710 g/t silver, and 1.47 meters grading 2.29 g/t gold and 708 g/t silver.

"Our 2017 drill campaign at Alta Gracia was a success on many levels," said Barry Devlin, vice president of exploration.

"We continue to see elevated levels of gold and silver in multiple drill holes at Alta Gracia.

"Not only did our exploration efforts intercept all four targeted primary veins, but also discovered multiple new unnamed mineralized veins.

"We look forward to returning to Alta Gracia in 2018 with another drill program to build on our 2017 drill success."

The 2017 targets were generated from previous drilling by GORO and chip sampling from underground workings.

The data will be used to generate new drill targets for follow up in 2018, in a bid to define additional mineralization to support future mining in conjunction with the Mirador mine.

Shares added 0.81% to US$3.74.

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Wed, 25 Oct 2017 10:47:00 -0400 http://www.proactiveinvestors.com/companies/news/186209/gold-resource-corp-says-alta-gracia-drill-results-augur-well-for-mirador-mine-186209.html
<![CDATA[News - Gold Resource Corporation produces 6,465 ounces of the yellow metal in third quarter ]]> http://www.proactiveinvestors.com/companies/news/185643/gold-resource-corporation-produces-6465-ounces-of-the-yellow-metal-in-third-quarter-185643.html Mexico and Nevada focused Gold Resource Corporation (NYSE:GORO) repeated its 2017 annual production guidance after output was around 6,465 ounces of gold, 392,153 ounces of silver and significant base metals in the third quarter, it said.

Output for the three months to end September came in at 291 tonnes of copper, 1,449 tonnes of lead and 4,628 tonnes of zinc.

For the first nine months of 2017, the miner produced around 18,908 ounces of gold, 1,217,713 ounces of silver, 804 tonnes of copper, 3,583 tonnes of lead and 11,447 tonnes of zinc.

Its annual outlook is 27,500 gold ounces and 1,850,000 silver ounces, plus or minus 5%.

GORO has returned US$110mln to shareholders in monthly dividends since commercial production began on July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery

Shares in New York eased 2.89% to US$3.70 each.

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Mon, 16 Oct 2017 09:21:00 -0400 http://www.proactiveinvestors.com/companies/news/185643/gold-resource-corporation-produces-6465-ounces-of-the-yellow-metal-in-third-quarter-185643.html
<![CDATA[News - Gold Resource Corp declares September dividend ]]> http://www.proactiveinvestors.com/companies/news/184762/gold-resource-corp-declares-september-dividend-184762.html Gold miner Gold Resource Corporation (NYSE: GORO) has declared its September dividend at one sixth of a cent per share.

The divi is payable  on October 23 this year to shareholders of record as at October 11 this year.

The miner has operations in Oaxaca, Mexico and Nevada, USA. and has returned an impressive $110 million to shareholders in monthly dividends since commercial production started on July 1, 2010.

It also offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

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Thu, 28 Sep 2017 08:33:00 -0400 http://www.proactiveinvestors.com/companies/news/184762/gold-resource-corp-declares-september-dividend-184762.html
<![CDATA[News - Gold Resource Corp finds more high grades at its Gold Mesa property ]]> http://www.proactiveinvestors.com/companies/news/183190/gold-resource-corp-finds-more-high-grades-at-its-gold-mesa-property-183190.html Precious metals producer Gold Resource Corporation (NYSE:GORO) reported more positive drill findings from its phase five drill campaign at the Gold Mesa property in Nevada.

The latest assays continue to show high grades at or near the surface, the firm said.

Highlights included an intercept of 9.14m (meters) of 1.59 g/t (grams per ton) gold from surface, including 4.57m of 2.85 g/t gold from surface

Barry Devlin, the vice president of exploration, said: "We have now completed five successful phases of shallow drilling at Gold Mesa over the past sixteen months testing eight different targets.

"Each phase of drilling has encountered surface and near surface high-grade gold values, at depths typically less than 30 meters below surface.

"Our goal now is to begin connecting portions of these eight different targets at Gold Mesa into a larger near surface mineralized zone conducive to open pit mining, as well as test the mineralization at deeper depths."

Previous drill results at the property included 33.54 meters at 1.89 g/t gold, 15.24 meters grading 6.27 g/t gold and 12.19 meters grading 2.42 g/t gold.

GORO's Nevada mining unit covers more than 27,000 acres in south central Nevada's Walker Lane mineral belt.

There is also the development stage Isabella Pearl Project, the Mina Gold exploration property, and the East Camp Douglas exploration property.

All four Nevada properties have surface and, or near surface high-grade gold drill intercepts and potential for future high-grade open pit heap leach operations, the group said.

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Wed, 30 Aug 2017 13:48:00 -0400 http://www.proactiveinvestors.com/companies/news/183190/gold-resource-corp-finds-more-high-grades-at-its-gold-mesa-property-183190.html
<![CDATA[News - Gold Resource Corporation posts net income of $0.9mln in second quarter; maintains 2017 output guidance ]]> http://www.proactiveinvestors.com/companies/news/181878/gold-resource-corporation-posts-net-income-of-09mln-in-second-quarter-maintains-2017-output-guidance-181878.html 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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Wed, 02 Aug 2017 15:22:00 -0400 http://www.proactiveinvestors.com/companies/news/181878/gold-resource-corporation-posts-net-income-of-09mln-in-second-quarter-maintains-2017-output-guidance-181878.html
<![CDATA[News - Gold Resource Corporation declares July dividend ]]> http://www.proactiveinvestors.com/companies/news/181594/gold-resource-corporation-declares-july-dividend-181594.html Precious metals miner Gold Resource Corporation (NYSE: GORO) declared its July dividend, which will be paid on August 23 this year.

The miner has returned around $110mln to shareholders in monthly dividends since commercial production began in July 1, 2010.

Shareholders also have the option to convert their cash dividends and take delivery in physical gold and silver.

The latest dividend is for 1/6 of a cent per share.

Earlier this month, the miner repeated its annual guidance for 2017 of 27,500 ounces of gold and 1.85mln ounces of silver, plus or minus 5%.

Preliminary second quarter production at the firm's Aguila project in Mexico totalled around 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.

Through the first half of 2017, GORO'S preliminary production totals approximately 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 firm is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The output comes from Mexico.

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Thu, 27 Jul 2017 10:45:00 -0400 http://www.proactiveinvestors.com/companies/news/181594/gold-resource-corporation-declares-july-dividend-181594.html
<![CDATA[News - Gold Resource Corp shares up as it maintains 2017 output guidance ]]> http://www.proactiveinvestors.com/companies/news/181088/gold-resource-corp-shares-up-as-it-maintains-2017-output-guidance-181088.html Gold Resource Corporation (NYSE: GORO) shares added 4% as the precious metals miner repeated its annual guidance for 2017 of 27,500 ounces of gold and 1.85mln ounces of silver, plus or minus 5%.

Preliminary second quarter production at the firm's Aguila project in Mexico totalled around 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.

Through the first half of 2017, GORO'S preliminary production totals approximately 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.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The output comes from Mexico.

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.

Shares added 4.09% to US$4.33.

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Tue, 18 Jul 2017 15:43:00 -0400 http://www.proactiveinvestors.com/companies/news/181088/gold-resource-corp-shares-up-as-it-maintains-2017-output-guidance-181088.html
<![CDATA[News - Gold Resource Corp boosted by latest switchback drill results in Mexico ]]> http://www.proactiveinvestors.com/companies/news/179999/gold-resource-corp-boosted-by-latest-switchback-drill-results-in-mexico-179999.html Shares in Gold Resource Corporation (NYSE: GORO) advanced over 3% as it continues to expand the switchback vein system at its Arista mine at its Aguila project in Oaxaca, Mexico.

"Thus far during 2017, our drill programs have more than doubled the Switchback vein system's strike length to over 625 meters," Jason Reid, president and chief executive of Gold Resource Corporation, said.

And he added that the vein system could grow as large or even larger than the Arista system.

"Ongoing Switchback mine development is progressing nicely as we look forward to our first bulk tonnage stoping of Switchback near year-end or the first quarter of 2018."

The new drill assays extend known mineralization at Switchback to the southeast by around 50 metres on strike and elevation, hitting multiple veins including 2.33 meters of 6.16 grams per tonne (g/t) gold, 453 g/t silver and 9.29% zinc.

That was within a wider intercept of 5.08 meters of 3.20 g/t gold and 261 g/t silver and 11.85% zinc, the firm noted.

The Switchback system's total strike length now exceeds 625 meters and remains open in all directions, the company  told investors.

GORO is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

It's been busy recently. Last week shares rose as it reported high grades in its latest drilling at its Mesa property in Nevada.

The  fourth phase RC (reverse circulation) campaign followed-up on two targets previously tested at the site,  with multiple holes hitting near surface mineralization.

Highlights include 6.10 metres (m) of 1.20 g/t (grams per ton) gold, which was 10.67m downhole, including 1.52m of 3.13 g/t gold, 13.72 metres down.

Gold Mesa has the potential to be a  high-grade gold open pit, or multiple open pits, with surface and near surface mineralization.

A phase five drill program is currently underway in a bid to expand known high-grade gold zones and test new targets.

Today, GORO shares gained 3.24% to US$4.14 each.

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Wed, 28 Jun 2017 12:32:00 -0400 http://www.proactiveinvestors.com/companies/news/179999/gold-resource-corp-boosted-by-latest-switchback-drill-results-in-mexico-179999.html
<![CDATA[News - Gold Resource Corporation shares advance as Gold Mesa prospect continues to shine ]]> http://www.proactiveinvestors.com/companies/news/179700/gold-resource-corporation-shares-advance-as-gold-mesa-prospect-continues-to-shine-179700.html Shares in Gold Resource Corporation (NYSE:GORO) advanced 6% in early deals as it reported high grades in its latest drilling at the Mesa property in Nevada.

The  fourth phase RC (reverse circulation) campaign followed-up on two targets previously tested at the site,  with multiple holes hitting near surface mineralization.

Highlights include 6.10 metres (m) of 1.20 g/t (grams per ton) gold, which was 10.67m downhole, including 1.52m of 3.13 g/t gold, 13.72 metres down.

Another highlight, singled out by the firm was an intercept of 6.10 meters of 2.09 grams per tonne (g/t) gold and 6.10 meters of 1.20 g/t gold.

These results add to previously reported high-grade drill results at Gold Mesa, which included 33.54 meters grading 1.89 g/t gold, 15.24 meters grading 6.27 g/t gold.

The property has potential to be a  high-grade gold open pit, or multiple open pits, with surface and near surface mineralization.

A phase five drill program is currently underway in a bid to expand known high-grade gold zones and test new targets.

Barry Devlin,  GORO's vice president of exploration, said: "We have now completed four successful phases of shallow drilling at Gold Mesa, where each phase encountered significant surface and near surface gold values, at depths typically less than 30 meters below surface.

"We are excited to again be drilling the Gold Mesa property, with a goal to expand known mineralized zones."

The Gold Mesa property is part of GORO’s Nevada mining business unit, which also includes the development stage Isabella Pearl Project, the Mina Gold exploration property, and the East Camp Douglas exploration property.

All four have surface and, or near surface high-grade gold drill intercepts and potential for future high-grade open pit heap leach operations.

Shares added 3.78% to stand at US$3.985 each.

--Updates for share rise--- ]]>
Thu, 22 Jun 2017 11:00:00 -0400 http://www.proactiveinvestors.com/companies/news/179700/gold-resource-corporation-shares-advance-as-gold-mesa-prospect-continues-to-shine-179700.html
<![CDATA[News - Gold Resource Corp boosts gold production in first quarter ]]> http://www.proactiveinvestors.com/companies/news/176613/gold-resource-corp-boosts-gold-production-in-first-quarter-176613.html 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.

READ - Gold Resource Corp still glittering in 2017 after enjoying comeback year READ - Gold Resource Corp's Switchback drill results augur well for Arista mine growth

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.

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Wed, 19 Apr 2017 11:05:00 -0400 http://www.proactiveinvestors.com/companies/news/176613/gold-resource-corp-boosts-gold-production-in-first-quarter-176613.html
<![CDATA[News - Gold Resource Corp still glittering in 2017 after enjoying comeback year ]]> http://www.proactiveinvestors.com/companies/news/176256/gold-resource-corp-still-glittering-in-2017-after-enjoying-comeback-year-176256.html With the shares up in 165% in 2016, it was safe to say it was a comeback year for Gold Resource Corporation (NYSEMKT:GORO).

Sentiment towards the gold and silver producer, developer and explorer, which has operations in Oaxaca, Mexico and exploration assets in Nevada, USA, was certainly helped by the recovery in precious metals prices.

And 2017 is shaping up nicely..

Gold production has increased in the first quarter of the year, totalling around 6,746 ounces (oz) and it is on track to produce 27,500 ounces of gold and 1.85mln  ounces of silver in 2017.

That compares to 6,463oz for the same period in 2016.

Beyond Mexico and into Nevada

In October last year, the shares received a boost when the company announced level 460 ramp development had reached the Switchback vein system at the Aguila Project's Arista mine.

The Susana vein is the first of at least six veins the company expects to crosscut with continued development. This primary 460 level Switchback ramp bifurcated some 100 metres from the Switchback vein system with an inclining secondary ramp to access the veins on the 480 level, 20 metres higher in elevation.

The company targets long-term production from Switchback by developing and preparing multiple levels and ore blocks over the next year for future bulk tonnage mining.

Meanwhile, the company has recently added three Nevada assets to its portfolio, with the Isabella Pearl project being the closest to reaching gold production.

An earlier study completed by a third-party reported that the project contains proven and probable reserves of 191,400 gold ounces at an average grade of 2.18 grams per tonne (g/t) and it is in advanced stages of engineering and mine permitting.

Elsewhere in Nevada, the company also recently acquired the Mina Gold property located in Mineral County. The Mina Gold property contains an historic third-party estimate of mineralized material totaling 1,606,000 tonnes grading 1.88 g/t gold.

The third Nevada asset is the Gold Mesa, located in the Walker Lane mineral belt. News flow from this has also been encouraging, with the company reporting in October that phase II drilling results had not disappointed.

The company continues to encounter significant gold values at shallow depths.

The company tends not to hang about

GORO has a track record of moving fast and always keeping its eyes on low operating costs and high returns.

So, if your idea of a good investment proposition is a long shot explorer that might, repeat “might”, knock one out of the park at some dim and distant point in the future (assuming it does not run out of money before then), then GORO is not for you.

Instead of waiting for “jam tomorrow”, with GORO you can have jam today, with the prospect of even more jam in the not too distant future.

Chief executive Jason Reid says the intention at the Isabella Pearl project is to “hit the ground running” and, all being well, bring it on-stream as early as 2018.

Meanwhile, at the Mesa asset, Reid said: “The potential of minimal overburden to move, lower capital expenditures required to access gold mineralization and potentially attractive return on capital metrics has us eyeing a production decision if we continue to intercept similar results in future drill campaigns as we have achieved in our first two."

Sixth year of profitability...

In March this year, the miner announced its sixth consecutive year of profitability, reporting $4.4mln in net income or $0.08 per share and said it was targeting 2017 annual production of 27,500 ounces gold and 1.85mln ounces of silver.

The company also confirmed its previously announced 2016 annual mill production of 27,628 gold ounces and 1,857,658 silver ounces for 53,023 precious metal gold equivalent ounces (at a realized 73.1:1 silver-to-gold ratio).

For the year to end December, it sold 48,725 precious metal gold equivalent ounces at a total cash cost of $548 per gold equivalent ounce.

Realized 2016 average sales prices were $1,256 per ounce gold and $17.18 per ounce silver.

An updated reserves report

In February, the group updated its Mexico Probable (P&P) Reserve Report as of December 31, 2016 in which it not only replaced the tonnes mined during 2016, but increased reserve tonnage by 15% to 1,891,500 tonnes grading 2.75 grams per tonne ("g/t") gold and 165 g/t silver.

The updated report shows gold grades increased by 14%, gold ounces increased by 31%, silver grades increased by 2% and silver ounces increased by 17%.

Mine life based on P&P at the Company's Oaxaca Mining Unit has been increased from approximately three to more than four years, assuming 2016 annual processing levels. For historical reference, the company was in production for three and one half years prior to completing its first P&P reserve report in 2014 and has consistently replaced reserve tonnes year over year in reserve reports since.

Switchback exploration augurs well for Arista mine

The group has said its Arista mine in Mexico has been further boosted by latest drill results.

Latest assays from the Switchback vein system show high grades, including 4.29 meters (m) at 9.97 gold grams per tonne (g/t).

There was also 5.81 meters of 4.87 gold g/t and 7.69 meters of 3.87 g/t gold.

"We are excited for our Arista Mine's continued growth with these latest Switchback vein system high-grade gold and silver results," added Jason Reid, chief executive and president.

"This bodes well for the Switchback vein system growing as big as, if not larger than, the Arista vein system. Mine development on several levels of Switchback continues.

"We target bulk tonnage mining this area in 2018, as we intend to develop a substantial portion of this exciting expansion of the Arista Mine during 2017.

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Mon, 10 Apr 2017 16:55:00 -0400 http://www.proactiveinvestors.com/companies/news/176256/gold-resource-corp-still-glittering-in-2017-after-enjoying-comeback-year-176256.html
<![CDATA[News - Gold Resource Corp's Switchback drill results augur well for Arista mine growth ]]> http://www.proactiveinvestors.com/companies/news/176248/gold-resource-corp-s-switchback-drill-results-augur-well-for-arista-mine-growth-176248.html Gold Resource Corporation (NYSE:GORO) says its Arista mine in Mexico has been further boosted by latest drill results.

Latest assays from the Switchback vein system show high grades, including 4.29 meters (m) at 9.97 gold grams per tonne (g/t).

There was also 5.81 meters of 4.87 gold g/t and 7.69 meters of 3.87 g/t gold.

READ - Gold Resource lauds drill results from Gold Mesa READ - Gold Resource Corp reports sixth year of profitability

Switchback consists of multiple high-grade polymetallic, epithermal veins, making up the northeast portion of the Arista underground mine, the firm reminded investors.

Eight infill holes targeted the northwest, central and southeast portions of Switchback.

Seven holes hit multiple polymetallic veins, while an eighth  targeted the Soledad vein. The Switchback vein system remains open in all directions.

"The Switchback veins continue to show strength in grade, with both good underground mining widths and high-grade gold, silver and base metal intercepts," said Barry Devlin, vice president of exploration at Gold Resource Corporation.

"The continuation of multiple polymetallic en echelon veins speak to the tremendous power of this large epithermal system."

"We are excited for our Arista Mine's continued growth with these latest Switchback vein system high-grade gold and silver results," added Jason Reid, chief executive and president.

"This bodes well for the Switchback vein system growing as big as, if not larger than, the Arista vein system. Mine development on several levels of Switchback continues.

"We target bulk tonnage mining this area in 2018, as we intend to develop a substantial portion of this exciting expansion of the Arista Mine during 2017."

GORO shares added 0.93% in New York to $4.33.

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Mon, 10 Apr 2017 10:58:00 -0400 http://www.proactiveinvestors.com/companies/news/176248/gold-resource-corp-s-switchback-drill-results-augur-well-for-arista-mine-growth-176248.html
<![CDATA[News - Gold Resource Corp declares March divi ]]> http://www.proactiveinvestors.com/companies/news/175559/gold-resource-corp-declares-march-divi-175559.html Gold Resource Corporation (NYSE:GORO)  declared its monthly instituted dividend of 1/6 of a cent per common share for March payable on April 24 to shareholders.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

The Company has returned $109mln to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

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Tue, 28 Mar 2017 11:42:00 -0400 http://www.proactiveinvestors.com/companies/news/175559/gold-resource-corp-declares-march-divi-175559.html
<![CDATA[News - Gold Resource lauds drill results from Gold Mesa ]]> http://www.proactiveinvestors.com/companies/news/175241/gold-resource-lauds-drill-results-from-gold-mesa-175241.html Gold Resource Corporation (NYSE:GORO) has announced drill highlights from its phase three drill campaign at the Gold Mesa exploration property in Mineral County, Nevada.

Drill highlights include 12.19 metres (m) of 2.42 grams per tonne (g/t) gold and 7.62m of 2.26 g/t gold, both being near-surface intercepts beginning 9.14m downhole.

Gold Resource’s phase three reverse circulation drill campaign tested five targets at Gold Mesa, with multiple drill holes encountering surface and near-surface high-grade gold mineralization.

In all, the company has now tested a total of eight exploration targets at Gold Mesa.

"We have now completed three successful phases of drilling at Gold Mesa, where each phase encountered significant gold values at shallow depths, typically less than 35 metres. We are excited to resume drilling the Gold Mesa property this spring, with a goal to begin building a first resource estimate on this prospective high-grade gold property," revealed Barry Devlin, vice president of exploration.

Jason Reid, chief executive and president of the company, said the past 15 months had been “tremendously successful” for the exploration team.

"Surface and near-surface high-grade gold drill results should help us delineate an economic resource much sooner and with less estimated associated mining costs as a potential open pit heap leach operation. As we look to delineate a deposit or deposits and move toward a production decision at Gold Mesa, we have begun the process of environmental base line studies for future mine permitting,” Reid said.

“With continued drill success like we have had in our first three drill campaigns, we look forward to a future production decision at Gold Mesa," he added.

Shares in Gold Resource were down 10 cents at US$4.58 at noon.

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Wed, 22 Mar 2017 12:03:00 -0400 http://www.proactiveinvestors.com/companies/news/175241/gold-resource-lauds-drill-results-from-gold-mesa-175241.html
<![CDATA[News - Gold Resource Corp reports sixth year of profitability ]]> http://www.proactiveinvestors.com/companies/news/174062/gold-resource-corp-reports-sixth-year-of-profitability-174062.html Gold Resource Corporation (NYSEMKT:GORO) announced a sixth consecutive year of profitability on Wednesday, reporting $4.4mln in net income or $0.08 per share and said it was targeting 2017 annual production of 27,500 ounces gold and 1,850,000 ounces silver.

The company also confirmed its previously announced 2016 annual mill production of 27,628 gold ounces and 1,857,658 silver ounces for 53,023 precious metal gold equivalent ounces (at a realized 73.1:1 silver-to-gold ratio).

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

The Company has returned $109mln to its shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

 

2016 highlights

 

6th consecutive year of profitability $4.4 million net income, or $0.08 per share $83.2 million net sales 27,628 gold ounces produced; 1,857,658 silver ounces produced 53,023 precious metal gold equivalent ounces produced (73.1:1 realized silver-to-gold ratio) 48,725 precious metal gold equivalent ounces sold 1,035 tonnes copper, 4,049 tonnes lead and 14,302 tonnes zinc production $548 total cash cost per precious metal gold equivalent ounce $970 all in annual sustaining cash cost per ounce ("AISC") $14.2 million cash and cash equivalents $3.3 million physical gold and silver bullion treasury $1.7 million annual dividends paid, or $0.03 per share, including $0.01 per share special dividend $109 million total dividends paid over 77 consecutive monthly distributions Expanded Arista deposit, Aguila Project, Oaxaca, Mexico Significantly expanded size of the Switchback vein system, Arista deposit, Oaxaca Mexico Ramp development cross-cut Switchback vein system, Aguila Project, Oaxaca, Mexico Received final mine permit and commenced development at the "Mirador Mine", Alta Gracia Project, Oaxaca, Mexico Acquired high-grade Isabella Pearl project, Nevada, U.S.A. Acquired high-grade Mina Gold exploration property, Nevada, U.S.A. 2016 Proven & Probable gold and silver Reserves increased by 31% and 17% respectively 2016 Aguila Project Overview

 

"I am very proud to announce that 2016 delivered Gold Resource Corporation's sixth consecutive year of profitability, four years of which were in a difficult bear market," stated Gold Resource Corporation CEO and President, Mr. Jason Reid.

"Our Company posted annual net income of $4.4 million or $0.08 per share, returned $1.7 million back to our shareholders through dividends, and continued to invest in the Company's future growth in both Mexico and Nevada while adding cash from operations to our bank account. Our numerous successes during 2016 were accomplished without raising money, without diluting shareholders through equity sales and without going into debt."

For the year ended December 31, 2016, the Company sold 48,725 precious metal gold equivalent ounces at a total cash cost of $548 per gold equivalent ounce. Realized 2016 average sales prices were $1,256 per ounce gold and $17.18 per ounce silver. The Company recorded revenues of $83.2 million, mine gross profit of $22.4 million, and net income of $4.4 million, or $0.08 per share. Base metal production generated $37.8 million in revenue for 2016.

 

2017 Production Outlook

The Company is targeting 2017 annual production (with ranges based on plus or minus 5%) of 27,500 ounces gold and 1,850,000 ounces silver. The target range was estimated based on the Company's 2017 mine plan, the area of the deposit scheduled to be mined during the upcoming year, planned development during 2017 of the Switchback vein system and estimated grade fluctuations.

In 2017, the Company remains focused on mining tonnes based on net smelter return ("NSR") values per tonne of all metals to maximize cash flow. The Company will continue to focus on its overall margin from both precious and base metal production. Base metal production results in lower production costs per tonne and per ounce when used as a credit against production costs. The Company targets sufficient precious and base metal production in 2017 to support its plans for capital expenditures, exploration, dividends, taxes and future growth.

 

Year-End 2016 Oaxaca Mining Unit Proven & Probable Reserve Update

The Company recently updated its 2016 Oaxaca Mining Unit Proven and Probable ("P&P") Reserve Report as of December 31, 2016 in which it not only replaced the tonnes mined during 2016, but increased reserve tonnage by 15% to 1,891,500 tonnes grading 2.75 grams per tonne ("g/t") gold and 165 g/t silver.

The updated report shows gold grades increased by 14%, gold ounces increased by 31%, silver grades increased by 2% and silver ounces increased by 17%.

Mine life based on P&P at the Company's Oaxaca Mining Unit has been increased from approximately three to more than four years, assuming 2016 annual processing levels. For historical reference, the Company was in production for three and one half years prior to completing its first P&P reserve report in 2014 and has consistently replaced reserve tonnes year over year in reserve reports since.

 

Project Update

In 2016 mine production was centered in the Arista vein system between levels 16 and 20 with additional mill feed coming from the Aguila pit. Mine development accessed the Switchback vein system during the fourth quarter of 2016, and significant underground infrastructure including power, ventilation and pumping has been established for this new section of the Arista mine. In 2016, the Company averaged 1,295 tonnes per day milled or 450,221 tonnes for the year, a 9% increase over 2015 tonnages of 1,220 tonnes per day or 413,626 tonnes per year. The nominal design capacity at the Aguila mill is 1,500 tonnes per day.

The Arista vein system's primary decline ramp development has reached level 23 with continued stope development on multiple levels. Infill and step-out drilling continues to expand the mineralized horizon of the Arista deposit with continued plans to drill vein extensions along strike, at depth and parallel to the deposit.

During the fourth quarter of 2016, Arista Mine ramp development advanced to crosscut the Switchback vein system on level 24. In 2017 the Company plans to develop the Switchback vein system between levels 23 and 27 in preparation for mining in 2018. The Company targets long-term production from Switchback by developing and preparing numerous ore blocks over the next year for future bulk tonnage mining targeted for 2018. A modest amount of Switchback development ore is scheduled to be processed in the mill during 2017.

In October 2016, the Company announced it had received the final mine permit to begin development and production from the Mirador Mine, located at the Oaxaca Mining Unit's Alta Gracia Project. Development is underway and first production is expected from this new mine by the end of the first quarter 2017.

The Company's Nevada Mining Unit acquired 100% interest in two properties located in Mineral County, Nevada, U.S.A. in August 2016. The Isabella Pearl gold project, which contains a third party Proven and Probable Reserve of over 191,000 gold ounces grading 2.18 g/t gold, is in advanced engineering, design and mine permitting. The Company targets first Nevada gold production from Isabella Pearl at the earliest possible point in time subject to receiving a final mine permit, construction timing and funding. The Company also acquired the Mina Gold exploration property with a historic mineralized material estimate of 1,606,000 tonnes grading 1.88 g/t gold.

 

Exploration Program

The highlight of 2016's Oaxaca Mining Unit's exploration program was the continued expansion and delineation of the Arista Mine's Switchback vein system. Infill drilling at the Switchback vein system was successful in upgrading a significant portion of mineralized material into the proven and probable category. Step-out drilling at Switchback was also successful in expanding the vein system along strike as well.

A total of two exploration drills are currently in operation at the Company's Oaxaca Mining Unit, one underground at the Arista deposit and the other on surface at the Alta Gracia Project. The main exploration focus for 2017 continues to be the extensions of the Arista Mine's Arista vein system and the Switchback vein system, both polymetallic epithermal vein systems which remain open along strike and at depth. Exploration drilling at the Alta Gracia Project is being conducted in and around the Mirador Mine. The Company has budgeted approximately $4.3 million for exploration at its Oaxaca Mining Unit for 2017.

In 2016, the Company completed three successful phases of drilling at its Nevada Mining Unit's Gold Mesa property. High-grade gold was intercepted at or near surface in multiple drill holes at Gold Mesa. The Company plans a fourth phase of drilling at Gold Mesa for spring 2017 with a goal of expanding known mineralization. The Company also completed its first exploration and delineation drill program at the Mina Gold property in December 2016. A phase two drill program is planned at Mina Gold for spring 2017. The Company anticipates spending approximately $2.2 million on exploration in Nevada during 2017, primarily for surface drilling at its Gold Mesa and Mina Gold properties.

Gold Resource Corp shares were up 0.4% at $5.20 on Wednesday.

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Wed, 01 Mar 2017 15:20:00 -0500 http://www.proactiveinvestors.com/companies/news/174062/gold-resource-corp-reports-sixth-year-of-profitability-174062.html
<![CDATA[News - Gold Resource Corp declares February dividend ]]> http://www.proactiveinvestors.com/companies/news/173844/gold-resource-corp-declares-february-dividend Gold Resource Corporation (NYSEMKT:GORO) shares rose on Monday after it declared its monthly instituted dividend of 1/6 of a cent per common share for February payable on March 23 to shareholders.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

The Company has returned $109mln to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

Gold Resource shares were up 1.8% at $5.71 on Monday.

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Mon, 27 Feb 2017 11:24:00 -0500 http://www.proactiveinvestors.com/companies/news/173844/gold-resource-corp-declares-february-dividend
<![CDATA[News - Gold Resource Corporation reports increase in gold and silver reserves in Mexico ]]> http://www.proactiveinvestors.com/companies/news/173478/gold-resource-corporation-reports-increase-in-gold-and-silver-reserves-in-mexico-173478.html Gold Resource Corporation (NYSE:GORO) today said it has increased its gold and silver reserves at its mining operations in Oaxaca, Mexico.

Proven and probable gold reserves at the Oaxaca mining unit on 31 December 2016 rose by 31% to 167,300 ounces compared to 2015, while silver reserves climbed 17% to 10.1mln ounces.

Total reserves at the Oaxaca unit came to 1.9mln tonnes, up 15% on the previous year, with grades of 2.75 grams per tonne (g/t) in gold and 165 g/t.

The company also maintained 1.64mln proven and probable tonnes at the Arista vein system at the Aguila Project's Arista Mine in Oaxaca. It also added 203,500 tonnes at the Arista Mine's Switchback vein system.

For the first time, proven and probable reserves were reported from the Alta Gracia Project's recently commissioned Mirador Mine with 43,800 tonnes, including 1,500 gold ounces and 481,400 silver ounces at grades of 1.06 g/t gold and 342 g/t silver.

Meanwhile, the Arista vein system reported mineralised material of 773,900 tonnes with grades of  1.45 g/t gold, 153 g/t silver, 0.2% copper, 1.4% lead and 3.6% zinc. 

Gold Resource said the Switchback vein system mineralised material “increased significantly” from the prior year and now stands at 959,000 tonnes with grades 1.61 g/t gold, 97 g/t silver, 0.4% copper, 1.8% lead and 5.7% zinc.

The Alta Gracia Project saw mineralised material nearly doubled from the prior year with 296,900 tonnes and grades of 0.36 g/t gold and 232 g/t silver.

The Margaritas property reported initial mineralised material of 57,900 tonnes with grades of 0.72 g/t gold and 276 g/t silver.

"This is the strongest reserve report our company has recorded to date, significantly increasing the value of our Oaxaca mining unit," said Jason Reid, chief executive and President of Gold Resource Corporation.

"Not only did we replace all the tonnes we mined during 2016, proven and probable reserves increased on all fronts including a 14% increase to the gold grade, a 31% increase to our gold ounces and a 17% increase to our silver ounces.”

The group’s vice president Barry Devlin said goals for exploration in 2017 include replacing tonnes mined at Arista Mine’s Arista and Switchback vein systems along with expanding the mineralisation at the Mirador mine.

Shares advanced 0.84% to $5.97 in early US trading. 

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Tue, 21 Feb 2017 15:31:00 -0500 http://www.proactiveinvestors.com/companies/news/173478/gold-resource-corporation-reports-increase-in-gold-and-silver-reserves-in-mexico-173478.html
<![CDATA[News - Gold Resource expands Arista Mine, intercepts include 5 meters of 3.98 g/t gold ]]> http://www.proactiveinvestors.com/companies/news/172520/gold-resource-expands-arista-mine-intercepts-include-5-meters-of-398-gt-gold-172520.html Gold Resource Corporation (NYSEMKT:GORO) shares rose on Wednesday after the company announced the continued expansion of its Switchback vein system with additional step-out drill intercepts at the Aguila Project's Arista Mine.

Gold Resource Corp is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

These new results - which mark the company's farthest step-out drill hole to date - intercepted multiple veins including 5.01 meters of 3.98 grams per tonne (g/t) gold, and extends the Switchback system's total strike length to over 575 meters, a 275 meter expansion on strike since January 1, 2017.

From an underground exploration drill pad located on level 14 of the Arista Mine's Arista vein system, drill Holes 516150 and 516148 targeted extensions of the Switchback vein system. Multiple veins were intercepted in each hole significantly extending the Switchback vein system mineralization to the northwest.

Hole 516150 extended the system northwest by approximately 75 meters on strike beyond the recently released step-out Hole 516147, which added approximately 200 meters of strike length to Switchback. These new intercepts expand the Switchback system strike length from its previous 300 meters of strike length to now over 575 meters of total strike. The Switchback vein system remains open in all directions.

 

Recent step out drill Highlights include (m=meters, g/t=gram per tonne):

 

Hole# 516150, step-out hole extending strike length by 75 meters 5.01m of 3.98 g/t gold, 66 g/t silver, 0.52% copper, 4.33% lead, 5.89% zinc 1.88m of 5.69 g/t gold, 63 g/t silver, 0.95% copper, 2.51% lead, 7.88% zinc Hole# 516148, step-out drill hole validating numerous mineralized veins 8.78m of 1.46 g/t gold, 207g/t silver, 0.24% copper, 4.77% lead, 18.15% zinc

 

"These are substantial step-out drill holes into a powerful, growing epithermal vein system," said Barry Devlin, Vice President of Exploration for Gold Resource Corporation.

"Intercepts including 5 meters of 3.98 grams per tonne gold and 8.78 meters of 1.46 grams per tonne gold indicate substantial vein widths for underground mining along with excellent grades. We are very excited to be expanding the Switchback vein system as the Arista Mine continues to grow."

Gold Resource shares were up 1.1% at $5.44 on Wednesday.

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Wed, 01 Feb 2017 15:06:00 -0500 http://www.proactiveinvestors.com/companies/news/172520/gold-resource-expands-arista-mine-intercepts-include-5-meters-of-398-gt-gold-172520.html
<![CDATA[News - Gold Resource launches safety review after second fatality ]]> http://www.proactiveinvestors.com/companies/news/172380/gold-resource-launches-safety-review-after-second-fatality-172380.html Gold Resource Corporation (NYSE:GORO) has suspended operations for 48 hours and is to review safety procedures at all operations after two fatal accidents at its Arista mine in Mexico.

A member of staff was killed in a heavy equipment accident on 29 January, while a contract employee died in an earlier unrelated ground fall accident.

An initial investigation carried out by Mexico’s regulatory authorities attributed no blame to the company in the first incident.

Even so, it said the two–day suspension would give it time to review and strengthen safety policies, procedures and protocols at all operations. 

Investigations by both the company and the government into the circumstances surrounding the latest accident are currently underway.

"We are deeply saddened by these two tragic accidents," stated Jason Reid, chief executive.

“We will continue to work to provide the safest environment possible for our employees and contractors at all Company projects and although the causes of these accidents are unrelated, we have chosen to take some time to review and strengthen our safety protocols prior to resuming operations." 

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Mon, 30 Jan 2017 15:39:00 -0500 http://www.proactiveinvestors.com/companies/news/172380/gold-resource-launches-safety-review-after-second-fatality-172380.html
<![CDATA[News - Gold Resource Corp buys East Camp Douglas gold property in Mineral County, Nevada ]]> http://www.proactiveinvestors.com/companies/news/171825/gold-resource-corp-buys-east-camp-douglas-gold-property-in-mineral-county-nevada-171825.html  

The East Camp Douglas property covers an area of approximately 5,300 acres consisting of 277 unpatented claims, 12 patented claims and an additional 200 acres of fee lands in Mineral County, Nevada. The property is located approximately 14 miles southeast of the Company's Gold Mesa property (see map) and will be added to the Company's Nevada Mining Unit. Gold Resource Corporation's Nevada Mining Unit now controls approximately 27,300 acres of development and exploration lands in south central Nevada's Walker Lane Mineral Belt.

The Company acquired 100% of the East Camp Douglas property from Diversified Inholdings, LLC for US$2,000,000, which consisted of shares of restricted common stock valued at US$1,000,000 and cash of US$1,000,000. Diversified Inholdings, LLC retained a net smelter return royalty (NSR) of 3% on unpatented claims and fee lands and 1% on patented claims. The patented claims have an existing 2% NSR to an unrelated third party. 

East Camp Douglas is situated along strong structural controls and alignments within the Walker Lane mineral belt, which hosts numerous significant epithermal gold and silver deposits such as Paradise Peak, Borealis, Bodie, Goldfield and Tonopah. Precious metal epithermal mineralization at East Camp Douglas occurs as both widespread high sulfidation alteration areas and low sulfidation veins. 

Gold was first discovered at East Camp Douglas in low sulfidation quartz-adularia veins in 1893. Gold mining flourished in the district until 1902, with intermittent production through the 1980's. Historic district gold production is estimated at approximately 100,000 ounces. Modern exploration (post-1960s) by several mining and exploration companies has established modest gold resources in five separate areas in the district, with over 3,000 meters of drill core and a large exploration database.

Company management believes this large property has numerous untested targets and the high-grade drill results warrant an extensive exploration program.

"We have been watching the East Camp Douglas property for some time now and are excited to have acquired 100% interest in this large prospective exploration property. This property represents a district-scale exploration opportunity with the potential to host a deposit, similar to the neighboring Paradise Peak deposit, which produced over a million ounces of gold," said Barry Devlin, Vice President of Exploration.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $109mlnn 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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Wed, 18 Jan 2017 13:28:00 -0500 http://www.proactiveinvestors.com/companies/news/171825/gold-resource-corp-buys-east-camp-douglas-gold-property-in-mineral-county-nevada-171825.html
<![CDATA[News - Gold Resource Corp exceeds gold targets, achieves silver quota in 2016 ]]> http://www.proactiveinvestors.com/companies/news/171618/gold-resource-corp-exceeds-gold-targets-achieves-silver-quota-in-2016-171618.html Gold Resource Corporation (NYSEMKT:GORO) released its 2016 and fourth quarter mill production preliminary figures, showing 27,629 gold ounces and 1,857,777 silver ounces were produced last year, which exceeded its annual gold production target and achieved its annual silver production target.

Gold Resource Corp is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

The Company has returned $109mln 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.

The company set its 2016 annual production target ranges of 26,000 gold ounces and 1,900,000 silver ounces, plus or minus 5%.

Preliminary production for 2016 of approximately 27,629 gold ounces exceeded the upper targeted range for gold and 1,857,777 silver ounces achieved the silver production targeted range for the year. Fourth quarter gold and silver production totaled approximately 5,089 ounces and 419,800 ounces respectively. Preliminary annual base metal production included approximately 1,035 tonnes of copper, 4,049 tonnes of lead and 14,302 tonnes of zinc.

"Our Oaxaca Mining Unit's operations team once again delivered solid annual production results for 2016," said Gold Resource Corporation CEO and President, Jason Reid.

"In addition to achieving production, the team executed on mine development goals reaching the Arista Mine's Switchback Vein system on time and in a safe and efficient manner. Executing on this important aspect for our long-term mine development plan puts us in position to develop this new and exciting high-grade area of the mine during the 2017 year.”

He said that looking beyond 2017 into 2018, the company’s approach of developing Switchback for a year before commencing bulk tonnage mining in 2018 requires a disciplined approach of only processing development ore at Switchback before commencing long hole open stoping and cut and fill mining targeted at Switchback in 2018.

“This approach aims to set the company in a position with the largest amount of advanced mine development in its history. Adding to our mine team's success of reaching Switchback and solid annual production is the successful opening of our second operating mine at our Alta Gracia Project called the Mirador Mine during the fourth quarter of 2016, as well as the acquisition and advancement of the Nevada Mining Unit's Isabella Pearl gold project which targets first production in late 2017 or early 2018. Our mine team deserves the credit for executing on a number of fronts and I thank them for all their professional hard work," he added.

The company is currently finalising its 2017 production Outlook.

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Fri, 13 Jan 2017 14:14:00 -0500 http://www.proactiveinvestors.com/companies/news/171618/gold-resource-corp-exceeds-gold-targets-achieves-silver-quota-in-2016-171618.html
<![CDATA[News - Gold Resource Corporation adds substantially to mineralisation at Arista mine ]]> http://www.proactiveinvestors.com/companies/news/171548/gold-resource-corporation-adds-substantially-to-mineralisation-at-arista-mine-171548.html Gold Resource Corporation (NYSE MKT: GORO) has expanded the Switchback vein system at the Arista mine in Oaxaca state, Mexico.

A step-out intercept, drilled from underground at Arista, intercepted multiple high grade veins.

At least six veins were intercepted in one hole, significantly extending mineralisation to the northwest and extending the Switchback vein system from approximately 300 metres of strike length to over 500 metres.

Among the highlights from the drilling were 4.05m of 1.25 grams per tonne gold, 117 grams silver, 1% copper, 2.13% lead, 12.90% zinc, and 1.1m of 2.36 grams gold, 566 grams  silver, 0.55% copper, 0.70% lead, and 1.21% zinc.

"This is a powerful, growing epithermal vein system," stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. 

"It is very exciting to intercept multiple, parallel high-grade veins with such a significant step-out drill hole.”

 

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Thu, 12 Jan 2017 13:38:00 -0500 http://www.proactiveinvestors.com/companies/news/171548/gold-resource-corporation-adds-substantially-to-mineralisation-at-arista-mine-171548.html
<![CDATA[News - Gold Resource makes claim acquisition, consolidates mineralized trend at Isabella Pearl ]]> http://www.proactiveinvestors.com/companies/news/171343/gold-resource-makes-claim-acquisition-consolidates-mineralized-trend-at-isabella-pearl-171343.html Gold Resource Corporation (NYSEMKT:GORO) shares rose more than 5% on Monday after the company said its acquisition of additional exploration mining claims consolidate the mineralized trend of its Isabella Pearl gold development project in Mineral County, Nevada.

The claims were acquired from Nevada Select Royalty Inc., a wholly-owned subsidiary of Ely Gold and Minerals Inc. (CVE:ELY).

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $109mln 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.

The Company acquired 100% of 153 mining claims from Nevada Select for $460,000, which included shares of restricted common stock valued at $300,000, and cash of $100,000, plus a one-time advanced royalty cash payment of $60,000. Nevada Select retained a net smelter return royalty (NSR) of 2.5% on the claims. The Company has the right to buy down 0.5% percent of the NSR on the claims for $500,000.

The newly acquired mining claims bring the total number of mining claims at the project to 494, covering approximately 9,000 acres and which consolidate and eliminate many mine claim gaps along Isabella Pearl's mineralized trend. The claims extend exploration potential to the northwest along a geologic trend with mineralized outcrops and historic mine workings.

Gold Resource Corporation acquired the Isabella Pearl project in August from an unrelated party. The project contains third party proven and probable reserves estimated at 2,733,500 tonnes grading 2.18 grams per tonne, which equates to 191,400 gold ounces.

Future production development anticipates two adjacent open pits with the Isabella pit averaging around 1 gram per tonne gold with mineral outcropping at the surface, and the Pearl pit averaging around 3.7 grams per tonne gold with a higher-grade core averaging nearly 5 grams per tonne gold.

Since the recent acquisition of the Isabella Pearl project, the company has drilled a water well, retained several engineering firms out of Reno Nevada for additional engineering work, and is finalizing the company's in-house mine scheduling and capital expenditure requirement estimates for the project. The company targets the near-term resubmittal of the Environmental Assessment (EA) to the BLM for its mining operations permit.

The Isabella Pearl project is one of three properties the company controls in south central Nevada's Walker Lane Mineral Belt. The Company's Nevada Mining Unit now includes around 22,000 acres of development and exploration lands.

"We are pleased to add to and consolidate a much larger land package along the mineralized trend of our Isabella Pearl project," said Gold Resource Corporation's CEO and President Jason Reid.

"This acquisition provides for additional exploration potential to the northwest targeting open pit heap leach gold deposits, like those at Isabella Pearl."

Gold Resource shares were up 5.4% at $5.30 on Monday.

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Mon, 09 Jan 2017 09:50:00 -0500 http://www.proactiveinvestors.com/companies/news/171343/gold-resource-makes-claim-acquisition-consolidates-mineralized-trend-at-isabella-pearl-171343.html
<![CDATA[News - Glittering 2016 for Gold Resources ]]> http://www.proactiveinvestors.com/companies/news/171103/glittering-2016-for-gold-resources-171103.html With the shares up in 165% in 2016, it is safe to say it was a comeback year for Gold Resource Corporation (NYSEMKT:GORO).

Sentiment towards the gold and silver producer, developer and explorer, which has operations in Oaxaca, Mexico and exploration assets in Nevada, USA, was certainly helped by the recovery in precious metals prices.

There’s gold in them thar dividends

The fact it has steadily paid out dividends through lean times and good times is also a comfort to investors.

The company has returned US$108mln to shareholders in monthly dividends since commercial production commenced at its Aguila project in July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

The first nine months of 2016 saw the company post an improved net income of US$8.00mln, up from US$5.40mln the year before, on sales of US$21.37mln, up from US$19.44mln.

In the three months to Sept 30, net income was $1.6mln versus a loss of $469,000 in the same period in 2015; that translated into $0.03 per share.

Net sales or revenue also grew, to US$21.4mln from US$19.4mln in the same period a year ago. Mine gross profit was up at US$5.3mln from US$4.4mln in the same period.

Gold Resource Corp's Aguila Project sold 13,054 gold equivalent ounces at a total cash cost of US$623 per ounce (after by-product credits) in the third quarter.

Realized average metal price sales during the quarter were US$1,339 per ounce gold and $20.79 per ounce silver.

Realized gold and silver prices increased 20% and 43%, respectively, compared to the third quarter of 2015.

Production for the first three quarters of 2016 included 22,540 ounces of gold and 1,437,975 ounces of silver.

Beyond Mexico and into Nevada

The company’s Mexican assets in the southern state of Oaxaca, were targeting full year production of 26,000 gold ounces, 1,900,000 silver ounces, 1,100 tonnes of copper, 3,200 tonnes of lead and 12,900 tonnes of zinc in 2016, give or take five per cent either side.

In October, the shares received a boost when the company announced level 460 ramp development had reached the Switchback vein system at the Aguila Project's Arista mine.

The Susana vein is the first of at least six veins the company expects to crosscut with continued development. This primary 460 level Switchback ramp bifurcated some 100 metres from the Switchback vein system with an inclining secondary ramp to access the veins on the 480 level, 20 metres higher in elevation.

The company targets long-term production from Switchback by developing and preparing multiple levels and ore blocks over the next year for future bulk tonnage mining.

Meanwhile, the company has recently added three Nevada assets to its portfolio, with the Isabella Pearl project being the closest to reaching gold production.

An earlier study completed by a third-party reported that the project contains proven and probable reserves of 191,400 gold ounces at an average grade of 2.18 grams per tonne (g/t) and it is in advanced stages of engineering and mine permitting.

Elsewhere in Nevada, the company also recently acquired the Mina Gold property located in Mineral County. The Mina Gold property contains an historic third-party estimate of mineralized material totaling 1,606,000 tonnes grading 1.88 g/t gold.

The third Nevada asset is the Gold Mesa, located in the Walker Lane mineral belt. News flow from this has also been encouraging, with the company reporting in October that phase II drilling results had not disappointed.

The company continues to encounter significant gold values at shallow depths.

The company tends not to hang about

GORO has a track record of moving fast and always keeping its eyes on low operating costs and high returns.

So, if your idea of a good investment proposition is a long shot explorer that might, repeat “might”, knock one out of the park at some dim and distant point in the future (assuming it does not run out of money before then), then GORO is not for you.

Instead of waiting for “jam tomorrow”, with GORO you can have jam today, with the prospect of even more jam in the not too distant future.

Chief executive Jason Reid says the intention at the Isabella Pearl project is to “hit the ground running” and, all being well, bring it on-stream as early as 2018.

Meanwhile, at the Mesa asset, Reid said: “The potential of minimal overburden to move, lower capital expenditures required to access gold mineralization and potentially attractive return on capital metrics has us eyeing a production decision if we continue to intercept similar results in future drill campaigns as we have achieved in our first two."

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Tue, 03 Jan 2017 10:29:00 -0500 http://www.proactiveinvestors.com/companies/news/171103/glittering-2016-for-gold-resources-171103.html
<![CDATA[News - Gold Resource Corp declares December dividend ]]> http://www.proactiveinvestors.com/companies/news/170986/gold-resource-corp-declares-december-dividend-170986.html Gold Resource Corporation (NYSEMKT:GORO) has declared its monthly instituted dividend of 1/6 of a cent per common share for December 2016 payable on January 23 to shareholders of record on January 11, 2017.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

The Company has returned $109mln to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

Gold Resource shares were up 1% at $4.14 on Wednesday.

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Wed, 28 Dec 2016 14:07:00 -0500 http://www.proactiveinvestors.com/companies/news/170986/gold-resource-corp-declares-december-dividend-170986.html
<![CDATA[News - Gold Resource declares November dividend ]]> http://www.proactiveinvestors.com/companies/news/169616/gold-resource-declares-november-dividend-169616.html Gold Resource Corporation (NYSEMKT:GORO) on Monday declared its monthly dividend of 1/6 of a cent per common share for November, payable on December 23 to shareholders on December 12.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

The Company has returned $108mln to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

Gold Resource shares were up 2.1% at $4.40 on Monday.

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Mon, 28 Nov 2016 10:05:00 -0500 http://www.proactiveinvestors.com/companies/news/169616/gold-resource-declares-november-dividend-169616.html
<![CDATA[News - Gold Resource reports Q3 net income $1.6mln, maintains 2016 output outlook ]]> http://www.proactiveinvestors.com/companies/news/168503/gold-resource-reports-q3-net-income-16mln-maintains-2016-output-outlook-168503.html Gold Resource Corporation (NYSEMKT:GORO) has reported net income of $1.6mln in the third quarter, reversing the previous year’s loss, and maintained its 2016 output outlook.

In the three months to Sept 30, net income was $1.6mln versus a loss of $469,000 in the same period in 2015. That translated into $0.03 per share in the latest quarter.

Net sales or revenue also grew to $21.4mln from $19.4mln in the same period a year ago. Mine gross profit was up at $5.3mln from $4.4mln in the same period.

The company also reported that production results for the third quarter were 6,066 ounces of gold and 431,335 ounces of silver, which along with base metal revenue generated $21.4mln in net revenue.

Gold Resource Corp is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The company has returned $108mln 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.

Gold Resource Corp's Aguila Project sold 13,054 gold equivalent ounces at a total cash cost of $623 per ounce (after by-product credits). Realised average metal price sales during the quarter were $1,339 per ounce gold and $20.79 per ounce silver.

Realised gold and silver prices increased 20% and 43%, respectively, compared to the third quarter of 2015.

Production for the first three quarters of 2016 included 22,540 ounces of gold and 1,437,975 ounces of silver. The company maintains its 2016 Annual Outlook, targeting a plus or minus 5 percent production, of 26,000 gold ounces, 1,900,000 silver ounces, 1,100 tonnes of copper, 3,200 tonnes of lead and 12,900 tonnes of zinc.

As previously announced, during the third quarter, the Company purchased a 100% interest in the Isabella Pearl high-grade gold potential open pit heap leach project located in Nevada, U.S.A. See video.

An earlier study completed by a third-party reported that the project contains Proven and Probable Reserves of 191,400 gold ounces at an average grade of 2.18 grams per tonne (g/t) and it is in advanced stages of engineering and mine permitting. The Company also acquired the Mina Gold property located in Mineral County, Nevada. The Mina Gold property contains an historic third-party estimate of mineralized material totaling 1,606,000 tonnes grading 1.88 gram per tonne (g/t) gold.

Gold Resource shares closed up 2.1% at $5.89 on Thursday.

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Thu, 03 Nov 2016 16:29:00 -0400 http://www.proactiveinvestors.com/companies/news/168503/gold-resource-reports-q3-net-income-16mln-maintains-2016-output-outlook-168503.html
<![CDATA[News - Gold Resource Corporation declares October dividend ]]> http://www.proactiveinvestors.com/companies/news/168158/gold-resource-corporation-declares-october-dividend-168158.html Gold Resource Corporation (NYSEMKT:GORO) declared its monthly instituted dividend on Monday, of 1/6 of a cent per common share for October payable on November 23 to shareholders of record as of November 11.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

The company has returned $108mln to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

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Thu, 27 Oct 2016 10:18:00 -0400 http://www.proactiveinvestors.com/companies/news/168158/gold-resource-corporation-declares-october-dividend-168158.html
<![CDATA[News - Gold Resource Corporation Arista Mine Development Crosscuts Switchback Vein System ]]> http://www.proactiveinvestors.com/companies/news/167592/gold-resource-corporation-arista-mine-development-crosscuts-switchback-vein-system-167592.html Gold Resource Corporation (NYSEMKT:GORO) shares raced 6% higher on Tuesday after the company announced level 460 ramp development has reached the Switchback vein system at the Aguila Project's Arista mine.

Arista Mine ramp development has advanced over 680 meters to reach the Switchback vein system's Susana vein on the 460 level. The Susana vein is the first of at least six veins the Company expects to crosscut with continued development. This primary 460 level Switchback ramp bifurcated approximately 100 meters from the Switchback vein system with an inclining secondary ramp to access the veins on the 480 level, 20 meters higher in elevation.

This secondary ramp is targeted to reach additional mineralization on the 480 level in November 2016. A 3.1-meter diameter raise bore is being drilled to connect the 460 level ramp with the previously constructed 600 level ramp, around 140 meters higher up in the deposit for mine safety and ventilation. The Company expects to pull development ore from Switchback during the fourth quarter 2016 and will either process or stockpile the mineralization for 2017.

The Company targets long-term production from Switchback by developing and preparing multiple levels and ore blocks over the next year for future bulk tonnage mining.

The Switchback vein system adds to the Arista Mine's longevity with high-grade, polymetallic mineralization. 2016 exploration drilling has expanded the overall size of the Switchback vein system, including expansions to the strike length of the Soledad vein by ~170 meters from 200 to 370 meters and the Sagrario vein by ~100 meters from 180 to 280 meters in length.

The additional exploration drilling conducted at Switchback in 2016, as announced in numerous previous Switchback drill result press releases, is targeted to be included in future reserve reports. Reserve additions are dependent in large part on achieving tight enough drill hole spacing together with channel sampling in development headings adequate to classify the mineralized material as Proven and Probable reserves. The Switchback vein system remains open in all directions.

"With well over a year of allocating Company resources to extend decline ramps to the Arista Mine's Switchback vein system, we are pleased and excited to now be developing the Switchback veins," said Jason Reid, CEO and President of Gold Resource Corporation.

"Using cash flow from operations, we have gained access to this exciting new area of the mine and can begin to see the much awaited return on our invested capital. I am optimistic the Arista Mine's Switchback vein system could one day be as large as, or perhaps larger than, the Arista Mine's Arista vein system, and that we may in the future find additional parallel vein systems like Arista and Switchback. It will require time and additional capital to fully determine the size of Switchback, but now cash flow from Switchback production can be leveraged in our endeavor to continue to expand this large epithermal system," he added.

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $108ml 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.

Gold Resource shares were up 6.1% at $5.77 on Tuesday.

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Tue, 18 Oct 2016 14:04:00 -0400 http://www.proactiveinvestors.com/companies/news/167592/gold-resource-corporation-arista-mine-development-crosscuts-switchback-vein-system-167592.html