Mexico Ministry of Health Orders Thirty-Day Suspension of All Non-Essential Business Including Mining
April 01 2020 - 5:01PM
via NEWWMEDIAWIRE -- Gold Resource Corporation (NYSE American:
GORO) (the “Company”)
announced today that
the Mexican Ministry of Health proclaimed a national health
emergency with an immediate suspension order of all “non-essential”
public and private sector business in order to mitigate the spread
and transmission of the COVID-19 virus. The order became
effective on its publication date in the Official Gazette of the
Federation (dated March 31, 2020) and remains in place for a period
of 30 days, from March 30 to April 30, 2020. This suspension
order temporarily closes the Company’s Oaxaca Mining Unit
operations in Mexico.
Gold Resource Corporation is in the process of
furloughing its Oaxaca Mining Unit workforce, none of whom have
been diagnosed with the virus. A limited operational staff
will maintain safety and environmental systems at the Oaxaca Mining
Unit along with performing care and maintenance with a goal to
return to production as quickly as possible once the thirty-day
suspension is lifted. Due to this mandated shutdown the
Company suspends its 2020 production outlook.
The Company’s Nevada Mining Unit is currently
operating while taking numerous precautionary measures to keep its
employees safe. As this unprecedented situation continues to
evolve on often an hourly basis, we appreciate our shareholders’
support as we navigate the impacts of the COVID-19 pandemic on the
business world.
About GRC:
Gold Resource Corporation is a gold and silver
producer, developer and explorer with operations in Oaxaca, Mexico
and Nevada, USA. The Company targets low capital expenditure
projects with potential for generating high returns on
capital. The Company has returned $113 million back to its
shareholders in consecutive monthly dividends since July 2010 and
offers its shareholders the option to convert their cash dividends
into physical gold and silver and take delivery. For more
information, please visit GRC’s website, located at
www.goldresourcecorp.com and read the Company’s 10-K for an
understanding of the risk factors involved.
Cautionary Statements:
This press release contains forward-looking
statements that involve risks and uncertainties. The statements
contained in this press release that are not purely historical are
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. When used in
this press release, the words “plan”, “target”, "anticipate,"
"believe," "estimate," "intend" and "expect" and similar
expressions are intended to identify such forward-looking
statements. Such forward-looking statements include, without
limitation, the statements regarding Gold Resource Corporation’s
strategy, future plans for production, future expenses and costs,
future liquidity and capital resources, and estimates of
mineralized material. All forward-looking statements in this press
release are based upon information available to Gold Resource
Corporation on the date of this press release, and the company
assumes no obligation to update any such forward-looking
statements. Forward looking statements involve a number of risks
and uncertainties, and there can be no assurance that such
statements will prove to be accurate. The Company's actual results
could differ materially from those discussed in this press release.
In particular, there can be no assurance that production will
continue at any specific rate. Factors that could cause or
contribute to such differences include, but are not limited to,
those discussed in the Company’s 10-K filed with the SEC.
Contacts:
Corporate Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com
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