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Gold Resource Corporation reports more than 30,000 ounces of gold sold in 2022 after beating production guidance

Published: 11:49 17 Jan 2023 EST

Metals

Gold Resource Corporation (NYSE-A:GORO, ETR:GIH) announced its total sales of gold, silver and other metals in 2022 after the company surpassed its production guidance for the year. 

The company sold a total of 30,119 ounces of gold and 1,057,209 ounces of silver in 2022, for a gold equivalent total of 42,757 gold equivalent ounces. Gold Resource Corp also sold 14,157 tonnes of zinc, 1,348 tonnes of copper and 5,391 tonnes of lead, contributing to a strong cash balance of over $23 million.

“Despite global challenges faced this year, such as inflation, and localized challenges such as ground support and ventilation, gold and silver production at the Don David gold mine in Mexico still ended the year above guidance,” CEO Allen Palmiere said in a statement. 

READ: Gold Resource says it is on track to meet full year output guidance despite third quarter slowdown to improve safety

“While our grade profile is expected to decline in 2023, we continue to identify and implement improvement opportunities, including collaborating with local communities to ensure sustainability,” Palmiere said. 

“Work continues with the feasibility study to advance the Back Forty project in Michigan and once completed, preparation of state of Michigan permits will follow. In addition to the feasibility study work, we continue to focus on engaging with the local community.”

The company plans to host a conference call at 10 am ET on March 3. 

Gold Resource is unlocking what it calls the “significant upside potential” of its existing infrastructure and large land position surrounding the Don David mine.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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