Gold Resource Corporation Granted Government Approval to Restart Oaxaca Mining Unit
May 27 2020 - 7:55AM
via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO)
(the “Company”)
today announced it has
received written government approval to restart its Oaxaca Mining
Unit (OMU) operations in Mexico. After nearly eight weeks of
government mandated shutdown, the Company has begun to restart its
operations for the gradual ramp up of production while focusing on
workforce, contractor and community safety as the global pandemic
continues. Gold Resource Corporation is a gold and silver
producer, developer and explorer with operations in Oaxaca, Mexico
and Nevada, USA. The Company has returned $114 million 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.
The Company originally suspended OMU operations on April 1, 2020
after the Mexican Ministry of Health proclaimed a national health
emergency closing all “non-essential” public and private sector
businesses to mitigate the spread and transmission of the COVID-19
virus. In mid-May, the Mexican government designated mining
as an essential activity and offered the potential for mining
companies to restart operations prior to June 1, 2020 if companies
submitted an acceptable restart safety protocol. After
reviewing Gold Resource Corporation’s safety protocol
documentation, the Instituto Mexicano del Seguro Social (IMMS)
approved in writing the restart of the Company’s OMU operations on
May 25, 2020.
The Company is not currently aware of any COVID-19 cases at its
operations and will continue to train, promote, and utilize
protective measures for workers and neighboring communities,
including screening, physical distancing, deep cleaning, and
avoiding exposure for at-risk individuals. The operational
restart has begun in a secure, orderly and efficient manner, with
the primary focus on safety. The Company is pleased to be
back at work providing a strong economic impact and benefit to the
local communities, the state of Oaxaca and the country of
Mexico. The ability to be back at work will help counter the
economic devastation caused by the pandemic and associated
wide-spread business suspensions imposed by the Mexican
Government.
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 $114 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, the scope,
duration, and impact of the COVID-19 pandemic on mining operations,
Company employees, and supply chains as well as the scope, duration
and impact of government action aimed at mitigating the pandemic
may cause the actual results and future events to differ materially
from those expressed or implied by such forward-looking
information. Also, 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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