Gold Resource Corporation Announces Preliminary Results of 11,475 Gold Equivalent Ounces Produced and Sold in Q2 2022
July 13 2022 - 1:08PM
Business Wire
Gold Resource Corporation (NYSE American: GORO) (the “Company”)
sold a total of 8,746 ounces of gold and 231,622 ounces of silver
in Q2 2022 for a gold equivalent total of 11,475 ounces.
Additionally, the Company sold 3,590 tonnes of zinc, 286 tonnes of
copper, and 1,755 tonnes of lead contributing to a strong cash
balance of over $33 million.
Allen Palmiere, President and CEO said “Production remains solid
at the Don David Gold Mine in Mexico and the feasibility study
continues to advance at the Back Forty Project in Michigan. While
the volume of tonnes processed during the quarter dipped at DDGM,
grades and recoveries helped ensure we delivered another quarter of
over 10 thousand gold equivalent ounces.”
Sales Statistics
Three months ended June 30,
Six months ended June 30,
2022
2021
2022
2021
Metal sold
Gold (ozs.)
8,746
5,697
17,127
10,716
Silver (ozs.)
231,622
270,321
497,029
523,382
Copper (tones)
286
365
694
747
Lead (tonnes)
1,755
1,214
3,394
2,390
Zinc (tonnes)
3,590
3,193
7,949
6,327
Average metal prices
realized(1)
Gold ($ per oz.)
1,874
1,822
1,886
1,806
Silver ($ per oz.)
22.05
26.88
23.06
26.83
Copper ($ per tonne)
9,275
10,375
9,786
9,595
Lead ($ per tonne)
2,168
2,162
2,254
2,123
Zinc ($ per tonne)
4,338
2,945
4,066
2,871
Precious metal gold equivalent ounces
sold
Gold Ounces
8,746
5,697
17,127
10,716
Gold Equivalent Ounces from Silver
2,729
3,988
6,077
7,775
Total AuEq Ounces
11,475
9,685
23,204
18,491
(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
Q2 2022
Arista Mine
Tonnes Milled
127,403
126,363
97,806
135,398
135,801
128,884
Average Gold Grade (g/t)
1.68
1.91
2.68
1.93
3.00
2.63
Average Silver Grade (g/t)
78
79
91
82
81
64
Average Copper Grade (%)
0.43
0.36
0.37
0.38
0.41
0.32
Average Lead Grade (%)
1.70
1.63
2.29
2.17
1.97
1.99
Average Zinc Grade (%)
4.29
3.64
4.79
4.77
4.89
4.00
Combined
Tonnes milled(1)
138,980
129,590
98,010
135,398
136,844
129,099
Tonnes Milled per Day(2)
1,604
1,506
1,353
1,559
1,590
1,516
Metal production (before payable metal
deductions)(3)
Gold (ozs.)
6,097
6,555
6,933
6,853
11,187
9,317
Silver (ozs.)
307,610
295,979
265,829
330,873
332,292
249,088
Copper (tonnes)
441
368
284
413
431
303
Lead (tonnes)
1,737
1,654
1,808
2,345
2,073
2,020
Zinc (tonnes)
4,377
3,683
3,920
5,349
5,562
4,282
(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 and Q2 2022 combined tonnes milled includes 1,043
and 215 purchased tonnes, respectively, related to an environmental
initiative with a local community.
(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.
Q2 2022 Conference Call
The Company will host a conference call Thursday, July 28, 2022
at 10:00 a.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 Kim
Perry, 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://app.webinar.net/AgbarDeZeBK
To join the call via telephone, please use the following dial-in
details:
Participant Toll Free:
(888) 440-2094
International:
(438) 803-0544
Conference ID:
1047419
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. Under the direction of an
experienced board and senior leadership team, the company’s focus
is to unlock the significant upside potential of its existing
infrastructure and large land position surrounding the mine in
Oaxaca, Mexico 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/20220713005711/en/
Kim Perry Chief Financial Officer Kim.Perry@GRC-USA.com
www.GoldResourcecorp.com
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