Gold Resource Corp Reports Unaudited Consolidated Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 7 14
Gold Resource Corp. reported unaudited consolidated earnings and operating results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported operating loss of USD 0.415 million compared to USD 1.884 million a year ago. Loss before income taxes was USD 0.346 million compared to USD 2.544 million a year ago. Net loss was USD 1.455 million compared to USD 1.830 million a year ago. Basic loss per common share was USD 0.03 compared to USD 0.03 a year ago.
For the quarter, the company reported that tonnes milled were 79,568 compared to 84,017 a year ago. Tonnes milled per day were 865 compared to 913 a year ago. Gold production was 6,523 ozs compared to 9,063 ozs a year ago. Silver production was 687,240 ozs compared to 796,028 ozs a year ago. Copper production was 284 tonnes compared to 252 tonnes a year ago. Lead production was 1,350 tonnes compared to 627 tonnes a year ago. Zinc production was 3,816 tonnes compared to 1,851 tonnes a year ago. The company reported precious metal gold ounces of 6,523 compared to 9,063 a year ago. Gold equivalent ounces from silver were 10,739 compared to 12,181 a year ago.
For the nine months, the company reported operating income of USD 24.388 million compared to USD 9.694 million a year ago. Income before income taxes was USD 25.154 million compared to USD 7.136 million a year ago. Net income was USD 12.890 million compared to USD 4.183 million a year ago. Basic and diluted income per common share was USD 0.24 compared to USD 0.08 a year ago. Net cash provided by operating activities were USD 26.296 million compared to USD 3.664 million a year ago. Capital expenditures were USD 10.524 million compared to USD 5.891 million a year ago.
For the nine months, the company reported tonnes milled were 283,793 compared to 232,940 a year ago. Tonnes milled per day were 1,040 compared to 853 a year ago. Gold production was 26,687 ozs compared to 24,976 ozs a year ago. Silver production was 2,506,466 ozs compared to 2,321,345 ozs a year ago. Copper production was 891 tonnes compared to 702 tonnes a year ago. Lead production was 3,273 tonnes compared to 1,786 tonnes a year ago. Zinc production was 9,340 tonnes compared to 4,932 tonnes a year ago. Precious metal gold equivalent ounces produced gold ounces of 26,687 compared to 24,976 a year ago. Gold equivalent ounces from Silver were 38,495 compared to 39,172 a year ago. Total precious metal gold equivalent ounces were 65,182 compared to 64,148 a year ago.
Gold Resource Corporation Appoints Oscar Zelaya as El Aguila Project General Manager
Oct 20 14
Gold Resource Corporation announced the appointment of Mr. Oscar Zelaya as General Manager of its El Aguila Project, succeeding Mr. Jesus Rivera who will pursue other interests. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. Mr. Zelaya has over twenty-nine years of industry experience and joins Gold Resource Corporation most recently from Endeavour Silver Corporation, where he served as General Manager. Prior to joining Endeavour, Mr. Zelaya served as Nyrstar's Peruvian Country and General Manager, where he was responsible for the Coricancha and Contonga operations as well as the Pucarrajo Project. The company's Chief Operating Officer Mr. Rick Irvine will act as interim General Manager until November 4, 2014 when Mr. Zelaya is scheduled to join the team at the mine.
Gold Resource Corporation Reports Preliminary Production Results for the Third Quarter Ended September 30, 2014; Reaffirms Production Guidance for 2014
Oct 20 14
Gold Resource Corporation reported preliminary production results for the third quarter ended September 30, 2014 of approximately 17,200 ounces precious metal gold equivalent (AuEq). Slower than expected mine development resulted in fewer tonnes delivered to the Aguila Mill during the quarter. These production issues revealed some needed managerial changes at the Arista mine, which are currently underway. Production levels were approximately 28% lower in the quarter compared to the first half quarterly average.
The company's third quarter production of approximately 17,200 ounces precious metal gold equivalent (actual 64:1 silver-to-gold ratio) brings the company's annual production total to approximately 65,100 ounces AuEq. The company maintains its 2014 annual outlook at 85,000-100,000 ounces AuEq (63:1 silver-to-gold ratio) as budgeted.