Gold Resource Corp
AMEX:GORO
Gold Resource Corp
Gold Resource Corp. engages in the production of metal concentrates. The company is headquartered in Denver, Colorado and currently employs 6 full-time employees. The company went IPO on 2006-09-14. The firm is focused on its existing infrastructure and land position surrounding the mine, and to develop the Back Forty Project in Michigan, United States. Its Oaxaca Mining Unit consists of 100% interest in six potential gold and silver properties in the southern state of Oaxaca, Mexico. GRC controls approximately 684 square kilometers, including 55 kilometers of a structural fault corridor running North 70 West. Its flagship operation is the Aguila Project, where the Arista underground polymetallic deposit is in production. The Arista deposit produces gold and silver, as well as the base metals copper, lead and zinc. GRC's second operating mine is the Mirador Mine on the Alta Gracia Project. Its additional four exploration properties consists of Margaritas Property, Chamizo Property, Fuego Property and Rey Property.
Gold Resource Corp. engages in the production of metal concentrates. The company is headquartered in Denver, Colorado and currently employs 6 full-time employees. The company went IPO on 2006-09-14. The firm is focused on its existing infrastructure and land position surrounding the mine, and to develop the Back Forty Project in Michigan, United States. Its Oaxaca Mining Unit consists of 100% interest in six potential gold and silver properties in the southern state of Oaxaca, Mexico. GRC controls approximately 684 square kilometers, including 55 kilometers of a structural fault corridor running North 70 West. Its flagship operation is the Aguila Project, where the Arista underground polymetallic deposit is in production. The Arista deposit produces gold and silver, as well as the base metals copper, lead and zinc. GRC's second operating mine is the Mirador Mine on the Alta Gracia Project. Its additional four exploration properties consists of Margaritas Property, Chamizo Property, Fuego Property and Rey Property.
Turnaround Progress: Gold Resource Corporation is seeing early signs of operational improvement at its Mexican mine, following equipment upgrades and new mining methods.
Production Ramp-Up: Production ramped up significantly toward the end of Q3, with September and October both exceeding internal forecasts for tonnes produced.
Profitability Milestone: The company achieved mining gross profit in Q3, signaling progress on its return to profitability.
Cost Trends: Cash cost per gold equivalent ounce and all-in sustaining cost per gold equivalent ounce remain above targets, but both showed a downward trend during the quarter.
Record Metal Prices: Elevated precious metal prices, especially in silver, are positively impacting cash flow and financial performance.
Three Sisters Contribution: The Three Sisters area is expected to contribute at least 40% of total production by Q1 2026, potentially rising to 50% by Q2.
Capital Investments: Over $2.6 million invested in underground development and $6.5 million in exploration, with new mining equipment arriving and improving operational control.
Safety Initiatives: Lost time injuries prompted a third-party safety audit to improve workplace safety.
Back Forty Project Restart: Improved cash position allows funding of permitting and feasibility for the Back Forty Project, with work expected to begin in the coming months.
