SOURCE: Gold Resource Corporation

Gold Resource Corporation

August 26, 2010 05:00 ET

Gold Resource Corporation Approved to Trade on NYSE Amex

DENVER, CO--(Marketwire - August 26, 2010) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH), a low cost gold producer with operations in southern Mexico, announced today that it has been authorized to list its shares of common stock on the NYSE Amex stock exchange. GRC anticipates the shares of its common stock to begin trading on the NYSE Amex on Monday, August 30, 2010, using the symbol GORO. Prior to that date the Company's common shares trade on the OTC Bulletin Board under the same symbol GORO.

Gold Resource Corporation entered commercial production July 1, 2010 at its El Aguila Project's high-grade open pit deposit. The Company targets 70,000 ounces of gold over the first 12 months of commercial production at ~$200 cash cost per ounce from its El Aguila mill's flotation circuit. The Company's aggressive growth curve targets production ramp up by year 3 to 200,000 ounces of gold equivalent (gold and silver) at ~$0 cash cost per ounce using industry standard base metal byproduct credits. The Company declared its initial special cash dividend on July 29th in the amount of $0.03 per common share paid to its shareholders of record on August 16, 2010.

Gold Resource Corporation's President, Mr. Jason Reid, stated, "We are pleased to move our trading platform to the NYSE Amex exchange and see it as the Company's logical progression as a publically traded precious metals producer. We believe this new listing will provide greater market exposure, increased liquidity and additional long-term shareholder value. Gold Resource Corporation provides unique exposure to the gold space through its recently initiated commercial production, its aggressive growth profile, its focus on adding low-cost ounces and its potential to distribute meaningful dividends."

"We are pleased to welcome Gold Resource Corporation to list its shares on NYSE Amex," said Scott Cutler, NYSE Euronext Executive Vice President. "We look forward to partnering with Gold Resource Corporation on NYSE Amex, the premier U.S. equities market for listing and trading small- and mid-cap growth companies, and to providing the highest levels of market quality to the company and its shareholders."

About GRC:
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in five potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 49,380,404 shares outstanding, no warrants and no debt. 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.

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 commercial production at the El Aguila Project will be achieved in the time frames estimated, at the rates and costs estimated, or even at all. 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 Securities and Exchange Commission

Contact Information

  • Contact:
    Greg Patterson
    Corporate Development
    303-320-7708