DENVER--(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.”
Precious metal gold equivalent ounces sold
Gold Equivalent Ounces from Silver
(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.
For the three months ended:
Average Gold Grade (g/t)
Average Silver Grade (g/t)
Metal production (before payable metal deductions)(3)
(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.
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:
Please connect to the conference call at least 10 minutes prior to the start time using one of the connection options listed above.
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.
Kim Perry Chief Financial Officer Kim.Perry@GRC-USA.com www.GoldResourcecorp.com
Kim Perry Chief Financial Officer Kim.Perry@GRC-USA.com www.GoldResourcecorp.com