Gold Resource Corporation Reports Preliminary Q2 Production Results

Gold Resource Corporation (NYSEMKT:GORO) has announced preliminary second quarter production results, reporting roughly 6,788 ounces of gold production and 580,326 ounces of silver.
As quoted in the press release:

Preliminary second quarter production at the Company’s Arista mine totaled approximately 6,788 ounces of gold, 580,326 ounces of silver and significant base metals of copper, lead and zinc. In addition to falling metal prices, second quarter challenges included water inflow management, slower than expected mine development and an illegal mine protest and work stoppage. These challenges delayed mine development and required the Company to mine lower grade ore blocks outside of the original mine plan. Many of the challenges during the second quarter have passed, such as the ancillary effects of the protest and work stoppage. Third quarter improvements in water management, mining conditions and mine development are underway.
During the first half of 2015, the Company’s preliminary production numbers totaled approximately 15,135 ounces of gold and approximately 1,370,625 ounces of silver, delivering 48.0% and 46.1%, respectively of the lower range 2015 annual Outlook. Though the Company is slightly below its annual production target at the half-way point of the year, it is maintaining the lower range of its 2015 Outlook of producing approximately 31,500 gold ounces and 2,970,000 silver ounces. On an actual realized sales precious metal gold equivalent (AuEq) silver to gold ratio of 72:1, the Company has produced approximately 34,204 ounces for the first half of 2015, compared to 36,551 ounces AuEq when using the original beginning of year budgeted silver to gold ratio of 64.1:1 which reflects the drop in precious metal prices.
Full financial results for the second quarter will be available at the time the Company files its quarterly report on Form 10-Q with the Securities and Exchange Commission.

Click here to read the Gold Resource Corporation (NYSE:GORO) press release
Click here to see the Gold Resource Corporation (NYSE:GORO) profile.