Gold Resource Corporation Announces Preliminary Results of Over 10,000 Gold Equivalent Ounces Produced and Sold in Q1 2023
April 12 2023 - 4:37PM
Business Wire
Gold Resource Corporation (NYSE American: GORO) (the “Company”)
sold a total of 6,508 ounces of gold and 294,815 ounces of silver
in Q1 2023 for a gold equivalent total of 10,055 ounces.
Additionally, the Company sold 3,060 tonnes of zinc, 332 tonnes of
copper, and 1,417 tonnes of lead.
“Our 2023 annual production at the Don David Gold Mine is off to
a good start. This achievement is due to mining higher average
grades as a result of targeted infill drilling and mine
sequencing,” stated Allen Palmiere, President and CEO. “Underground
resource expansion drilling is progressing as planned. In addition,
the mine is managed by a new leadership team that is already
realizing improvements to maximize efficiencies and safety
protocols. At the Back Forty Project in Michigan, feasibility study
work related to metallurgical testing and refinement of capital
cost estimates continues.”
Sales Statistics
Three months ended March 31,
2023
2022
Metal sold
Gold (ozs.)
6,508
8,381
Silver (ozs.)
294,815
265,407
Copper (tones)
332
408
Lead (tonnes)
1,417
1,639
Zinc (tonnes)
3,060
4,359
Average metal prices
realized(1)
Gold ($ per oz.)
1,915
1,898
Silver ($ per oz.)
23
24
Copper ($ per tonne)
9,172
10,144
Lead ($ per tonne)
2,158
2,347
Zinc ($ per tonne)
3,195
3,842
Precious metal gold equivalent ounces
sold
Gold Ounces
6,508
8,381
Gold Equivalent Ounces from Silver
3,547
3,348
Total AuEq Ounces
10,055
11,729
(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 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Arista Mine
Tonnes Milled
135,398
135,801
128,884
110,682
116,616
116,721
Average Gold Grade (g/t)
1.93
3.00
2.63
1.98
2.51
2.33
Average Silver Grade (g/t)
82
81
64
80
109
94
Average Copper Grade (%)
0.38
0.41
0.32
0.37
0.45
0.37
Average Lead Grade (%)
2.17
1.97
1.99
1.59
1.58
1.73
Average Zinc Grade (%)
4.77
4.89
4.00
4.21
4.27
3.88
Combined
Tonnes milled(1)
135,398
136,844
129,099
110,682
116,616
117,781
Tonnes Milled per Day(2)
1,559
1,590
1,516
1,361
1,389
1,420
Metal production (before payable metal
deductions)(3)
Gold (ozs.)
6,853
11,187
9,317
5,851
7,767
7,171
Silver (ozs.)
330,873
332,292
249,088
261,256
370,768
322,676
Copper (tonnes)
413
431
303
296
406
336
Lead (tonnes)
2,345
2,073
2,020
1,249
1,323
1,559
Zinc (tonnes)
5,349
5,562
4,282
3,901
4,198
3,837
(1)
Combined tonnes milled in Q1 and Q2 2022 and Q1 2023
includes 1,043, 215, and 1,060 purchased tonnes, respectively,
related to a collaborative initiative with a local community to
ensure the proper environmental treatment and storage of the
material.
(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 2023 Conference Call
The Company will host a conference call Wednesday, April 26,
2023, at 10:00 a.m. Mountain 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: Click Here To Join Webcast
To join the call via telephone, please use the following dial-in
details:
Participant Toll Free:
+1 (888) 396-8049
International:
+1 (416) 764-8646
Conference ID:
13462059
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
deposit, 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/20230412005757/en/
Kim Perry Chief Financial Officer Kim.Perry@GRC-USA.com
www.GoldResourceCorp.com
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