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

Sales were US$31.1mln, compared to US$21.3mln in the same period last year.
Gold Resource Corporation reports higher net income and sales in third quarter
Output was 6,465 gold ounces versus 6,066 ounces last year and 392,153 silver ounces against 431,335 ounces last year

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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