SOURCE: Gold Resource Corporation

Gold Resource Corporation

June 10, 2010 09:00 ET

Gold Resource Corporation Ships Additional Concentrates Nearing Commercial Production

DENVER, CO--(Marketwire - June 10, 2010) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) ships additional concentrates for sale from its El Aguila Project as it ramps-up to Commercial Production. Gold Resource Corporation's El Aguila Project is located in Oaxaca, Mexico.

Gold Resource Corporation sold its first concentrates (52 tonnes) April 14, 2010, its second shipment (52 tonnes) May 12 and (102 tonnes) June 7 as it ramps-up towards Commercial Production levels. 

William W. Reid, president of Gold Resource Corporation, said, "We are approaching an acceptable balance between throughput, recovery and concentrate grades. If optimization continues this way, of which there is no guarantee, we see the possibility of declaring Commercial Production July 1st."

Until Commercial Production is declared, all concentrate sales are not considered revenue but are used to offset capital costs.

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 and no warrants. 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:
    Jason Reid
    VP / Corporate Development
    303-320-7708