Gold Resource Corporation Executes $55.6 Million Private Placement to Accelerate Production Profile and Exploration

Gold Resource Corporation (NYSE Amex: GORO) announced the execution of agreements for a $55.6 million private placement of its common stock to increase the development of its Oaxaca Mining Unit’s production profile, accelerate its exploration programs, initiate a formal reserve report and to capitalize on new property acquisition opportunities.

The press release is quoted as saying:

Gold Resource Corporation’s private placement consists of 3.475 million shares of restricted common stock at $16.00 per share with no warrants. Jefferies & Company, Inc. served as sole placement agent for Gold Resource Corporation in the private placement. The Company intends to increase mill capacity by potentially 50% in anticipation of expansion of its known mineralization at the La Arista vein system and thereby correspondingly increase the Project’s production profile.

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