Gold Resource Corporation Announces Preliminary First Quarter Production Results
April 15 2024 - 9:02PM
Business Wire
Gold Resource Corporation (NYSE American: GORO) (the “Company”)
announces its preliminary first quarter results that includes the
sale of 3,557 ounces of gold and 216,535 ounces of silver resulting
in total gold equivalent (“AuEq”) ounces of 5,965. Additionally,
the company sold 1,682 tonnes of zinc, 264 tonnes of copper, and
667 tonnes of lead.
“During the first quarter we continued our process to identify
and implement opportunities for cost reductions and operational
efficiencies in order to improve profitability. We are also moving
forward with our 2024 drill program with the purpose of increasing
our resources and reserves that could lead to future production
improvements.” stated Allen Palmiere, President and CEO. “The
Mexican peso has continued to remain strong against the US dollar,
but we have seen substantial increases in the metals prices that
are more than offsetting the impact of the exchange rate. With the
enhancements we are making with our operations and the improvements
we are seeing in the metal prices, we are moving in the right
direction.”
Sales Statistics
Three months ended March 31,
2024
2023
Metal sold
Gold (ozs.)
3,557
6,508
Silver (ozs.)
216,535
294,815
Copper (tonnes)
264
332
Lead (tonnes)
667
1,417
Zinc (tonnes)
1,682
3,060
Average metal prices
realized(1)
Gold ($ per oz.)
2,094
1,915
Silver ($ per oz.)
23
23
Copper ($ per tonne)
8,546
9,172
Lead ($ per tonne)
1,977
2,158
Zinc ($ per tonne)
2,483
3,195
Precious metal gold equivalent ounces
sold
Gold Ounces
3,557
6,508
Gold Equivalent Ounces from Silver
2,408
3,547
Total AuEq Ounces
5,965
10,055
(1) Average metal prices realized vary from
the market metal prices due to final settlement adjustments from
our provisional invoices. Our average metal prices realized will
therefore differ from the average market metal prices in most
cases.
Trending Production Statistics
For the three months ended:
Q4 2022
Q1 2023
Q2 2023
Q3 2023
Q4 2023
Q1 2024
Arista Mine
Tonnes Milled
116,616
116,721
113,510
116,626
111,255
98,889
Average Gold Grade (g/t)
2.51
2.33
1.59
1.52
1.44
1.89
Average Silver Grade (g/t)
109
94
86
73
85
88
Average Copper Grade (%)
0.45
0.37
0.37
0.32
0.39
0.37
Average Lead Grade (%)
1.58
1.73
1.64
1.29
1.39
1.25
Average Zinc Grade (%)
4.27
3.88
3.72
3.24
2.95
2.82
Combined
Tonnes milled
116,616
117,781
113,510
116,626
111,255
98,889
Tonnes Milled per Day(2)
1,389
1,420
1,395
1,557
1,379
1,328
Metal production (before payable metal
deductions)(3)
Gold (ozs.)
7,767
7,171
4,637
4,443
4,077
4,757
Silver (ozs.)
370,768
322,676
289,816
247,159
282,488
251,707
Copper (tonnes)
406
336
334
276
341
280
Lead (tonnes)
1,323
1,559
1,389
1,048
1,072
812
Zinc (tonnes)
4,198
3,837
3,569
3,223
2,884
2,310
(2) Based on actual days the mill operated
during the period. (3) The difference between what we report as
"Metal Production" and "Metal Sold" is attributable to the
difference between the quantities of metals contained in the
concentrates we produce versus the portion of those metals actually
paid for according to the terms of our sales contracts. Differences
can also arise from inventory changes related to shipping
schedules, or variances in ore grades and recoveries which impact
the amount of metals contained in concentrates produced and
sold.
Q1 2024 Conference Call
The Company will host a conference call Wednesday, May 1, 2024
at 12:00 p.m. Eastern Time.
The conference call will be recorded and posted to the Company’s
website later in the day following the conclusion of the call.
Following prepared remarks, Allen Palmiere, President and Chief
Executive Officer, Alberto Reyes, Chief Operating Officer and Chet
Holyoak, Chief Financial Officer will host a live question and
answer (Q&A) session. There are two ways to join the conference
call.
To join the conference via webcast, please click on the
following link:
https://onlinexperiences.com/Launch/QReg/ShowUUID=617944F2-FF66-4B11-A082-3804BF9CF029
To join the call via telephone, please use the following dial-in
details: Participant Toll Free: +1 (800) 717-1738 International: +1
(289) 514-5100 Conference ID: 45398
Please connect to the conference call at least 10 minutes prior
to the start time using one of the connection options listed
above.
About GRC:
Gold Resource Corporation is a gold and silver producer,
developer, and explorer with its operations centered on the Don
David Gold Mine in Oaxaca, Mexico. The company’s focus is to unlock
the significant upside potential of its existing infrastructure and
large land position surrounding the Don David mine and to develop
the Back Forty Project in Michigan, USA. For more information,
please visit GRC’s website, located at www.goldresourcecorp.com and
read the company’s Form 10-K for an understanding of the risk
factors associated with its business.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240415920849/en/
Chet Holyoak Chief Financial Officer Chet.Holyoak@GRC-USA.com
www.GoldResourceCorp.com
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