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Gold Resource Corporation

Gold Resource Corporation boosts 2019 production outlook

The firm unveiled production results for the second quarter ended June 30, 2019 of 9,559 ounces of gold and 467,484 ounces of silver

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

Gold Resource Corporation (NYSEAMERICAN:GORO) announced promising results Tuesday as it reported on its 2Q fiscal results, showing 9,559 ounces of gold and 467,484 ounces of silver, generating US$29.4 million in revenue for the quarter. 

The firm reported US$1.8 million, or US$0.03 per share, in net income for the quarter. 

“Gold Resource Corporation has now achieved dual-jurisdictional precious metal producer status in two mining friendly jurisdictions in North America," said president and CEO Jason Reid.  “We now approach important near-term catalysts to increase shareholder value, including our targeted 100% increase to the company’s gold production profile once the Nevada mine is fully operational, and possible future monthly dividend increases.”

READ: Gold Resource Corp looking to shine this year as Isabella Pearl poised to add near term production

The firm said it maintains its 2019 Oaxaca Mining Unit (OMU) production outlook and plans to increase its global production outlook once commercial production levels are reached at its Nevada Mining Unit Isabella Pearl mine.  The firm said it maintains its 2019 OMU annual outlook, targeting a plus or minus 10% production range of 27,000 gold ounces and 1,700,000 silver ounces. 

The firm has had a promising start to 2019, after producing gold at Isabella Pearl in just over 10 months of breaking ground on the project, with the project now in the gold production ramp-up phase. 

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

Contact Katie Lewis at [email protected]

Quick facts: Gold Resource Corporation

Price: $3.72

Market: NYSEMKT
Market Cap: $243.98 m
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Gold Resource reports Q2 production numbers at Mexican and Nevada mines

Gold Resource Corporation (NYSEMKT:GORO) CEO Jason Reid offered Proactive Investors a glimpse into the gold miner's 2Q production numbers at its Oaxaca Mexican mining project and its Isabella Pearl project in Nevada. Reid says Isabella Pearl is ramping up production, and looking forward...

on 07/25/2019

2 min read