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Additional Information
Market: NYSE AMEX
Sector: Gold Mining
EPIC: GORO
Gold Resource Corp
www.goldresourcecorp.com

Gold Resource Corporation is a mining company focused on production and pursuing development of select, high-grade gold and silver projects that feature low operation costs and produce high returns on capital. The Company has 100% interest in four high-grade gold and silver properties in Mexico's southern state of Oaxaca.

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Gold Resource Corp declares special cash dividend

29th Jul 2010, 2:45 pm
Gold Resource Corp declares special cash dividend

Gold Resource Corporation (GRC) (OTCBB: GORO, FSE: GIH) has declared an initial special cash dividend of US$0.03 per common share, just one month after it declared the start of commercial production at its El Aguila high-grade gold and silver mine in the southern state of Oaxaca, Mexico.

“This dividend declared just one month after commercial production commenced not only thanks shareholders for their continued support but underscores management’s longstanding dividend commitment,” the group said in a statement.

Since going public in September 2006, management has remained focused on a disciplined capital structure, generating cash flow from operations and on the potential for distribution of meaningful dividends, it said. 

The company is very pleased with El Aguila’s performance and by using cash flow generated from operations the board of directors declares the special dividend to be paid to those shareholders of record at the close of business on August 16 2010.

President Jason Reid stated: “Though there are no guarantees as to future dividends, we remain steadfast on our longstanding goal to return approximately one-third cash flow generated from operations back to the shareholders.” 

GRC is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital.  The Company has 100% interest in five potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. 

The company had been ramping up production at El Aguila since production initially began in February 2010, and it is projected to produce 70,000 ounces of gold in the first year of operation.

Last week, the group reported that El Aguila produced 4,390oz of gold in the period between June 3 and July 14.

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