SOURCE: Gold Resource Corporation
COLORADO SPRINGS, CO--(Marketwired - Jan 21, 2014) - Gold Resource Corporation (NYSE MKT: GORO) (the Company) today announced preliminary 2013 fourth quarter and year-end mill production of approximately 84,835 precious metal gold equivalent (AuEq) ounces, in-line with 2013 annual production target range. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $92 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Gold Resource Corporation's preliminary mill production results for 2013 totaled approximately 84,835 ounces AuEq, which included approximately 20,687 ounces AuEq produced during the fourth quarter. Full financial results for the fourth quarter and fiscal year-end 2013 will be available in the Company's annual report on Form 10-K to be filed with the Securities and Exchange Commission.
"We are pleased 2013 production was within our targeted annual production range," Gold Resource Corporation CEO and President, Mr. Jason Reid, stated. "We achieved this in spite of a weakening gold to silver ratio working against our precious metal gold equivalent production for the year. We also achieved our goal during a significant expansion year for both the Aguila mill and Arista mine, while sustaining various mill shut down days for construction and maintenance during the fourth quarter. With nominal mill production capacity increased to 1,500 tonnes per day, our primary focus continues on mine development targeting increased tonnages over the 2013 average processing rate of approximately 866 tonnes per day. We are finalizing the Company's 2014 Outlook and targeted production range and remain optimistic our excellent Oaxaca team will continue to achieve our future production goals."
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 six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 53,779,369 shares outstanding, no warrants and no debt. Gold Resource Corporation offers 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.
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 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.