Gold Resource Corporation Announces Preliminary Results of 11,729 Gold Equivalent Ounces Produced and Sold in Q1 2022
April 14 2022 - 3:12PM
Business Wire
Gold Resource Corporation (NYSE American: GORO) (the “Company”)
sold a total of 8,381 ounces of gold and 265,407 ounces of silver
in Q 1 2022 for a gold equivalent total of 11,729 ounces.
Additionally, the Company sold 4,359 tonnes of zinc, 408 tonnes of
copper, and 1,639 tonnes of lead contributing to a strong cash
balance of over $31 million.
Allen Palmiere, President and CEO said “2022 is off to a good
start with strong production results at the Don David Gold Mine in
Mexico and the feasibility study advancing at the Back Forty
Project in Michigan. Our investment in capital and exploration
progressed during the quarter, including the completion of the
filtration plant and dry stack facilities in January accelerating
our environmental stewardship efforts.”
Sales Statistics
Three months ended March 31,
2022
2021
Metal sold
Gold (ozs.)
8,381
5,019
Silver (ozs.)
265,407
253,061
Copper (tonnes)
408
382
Lead (tonnes)
1,639
1,176
Zinc (tonnes)
4,359
3,134
Average metal prices
realized(1)
Gold ($ per oz.)
1,898
1,787
Silver ($ per oz.)
23.94
26.77
Copper ($ per tonne)
10,144
8,873
Lead ($ per tonne)
2,347
2,082
Zinc ($ per tonne)
3,842
2,797
Precious metal gold equivalent ounces
sold
Gold Ounces
8,381
5,019
Gold Equivalent Ounces from Silver
3,348
3,791
Total AuEq Ounces
11,729
8,810
(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:
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Arista Mine
Tonnes Milled
127,403
126,363
97,806
135,398
135,801
Average Gold Grade (g/t)
1.68
1.91
2.68
1.93
3.00
Average Silver Grade (g/t)
78
79
91
82
81
Average Copper Grade (%)
0.43
0.36
0.37
0.38
0.41
Average Lead Grade (%)
1.7
1.63
2.29
2.17
1.97
Average Zinc Grade (%)
4.29
3.64
4.79
4.77
4.89
Combined
Tonnes milled(1)
138,980
129,590
98,010
135,398
136,844
Tonnes Milled per Day(2)
1,604
1,506
1,353
1,559
1,590
Metal production (before payable metal
deductions)(3)
Gold (ozs.)
6,097
6,555
6,933
6,853
11,187
Silver (ozs.)
307,610
295,979
265,829
330,873
332,292
Copper (tonnes)
441
368
284
413
431
Lead (tonnes)
1,737
1,654
1,808
2,345
2,073
Zinc (tonnes)
4,377
3,683
3,920
5,349
5,562
(1) Combined tonnes milled in Q1, Q2 and Q3 2021 included
11,577, 3,227 and 204 tonnes from the Open Pit Mine, respectively.
The Open Pit Mine is no longer in production as of Q3 2021.
Additionally, Q1 2022 combined tonnes milled includes 1,043
purchased tonnes related to an environmental initiative with a
local community. (2) Based on actual days the mill operated during
the period. (2) 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 2022 Conference Call
The Company will issue a supplemental news release providing
additional details regarding timing of the 10-Q filing with EDGAR
for the period ended March 31, 2022 financial and operating results
and details for a hosted conference call.
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. Under the direction of a new
board and senior leadership, the company’s focus has been to unlock
the significant upside potential of its existing infrastructure and
large land position surrounding the mine and now that our
acquisition of Aquila Resources Inc. is closed, 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-Q for an understanding of the risk factors
associated with its business.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220414005847/en/
Kim Perry Chief Financial Officer Kim.Perry@GRC-USA.com
www.GoldResourcecorp.com
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