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Gold Resource Corporation (NYSE:GORO) reported production results for the second quarter ending June 30, 2015. Results showed 6,788 ounces of gold, 580,326 ounces of silver ounces, or 14,858 precious metal gold equivalent (AuEq) ounces (calculated at actual sales price ratio of 72:1), which generated $23.3 million in net revenue for the quarter.
Gold Resource Corporation (NYSE:GORO) reported production results for the second quarter ending June 30, 2015. Results showed 6,788 ounces of gold, 580,326 ounces of silver ounces, or 14,858 precious metal gold equivalent (AuEq) ounces (calculated at actual sales price ratio of 72:1), which generated $23.3 million in net revenue for the quarter.
As quoted in the press release:
2015 Q2 HIGHLIGHTS
- 14,858 ounces AuEq mill production
- 14,589 ounces AuEq sold
- $23.3 million sales, net
- $1.6 million operating income
- $533 total cash cost per ounce AuEq (after by-product credits)
- $9.4 million Cash Flow from Mine Site Operations
- $9.2 million by-product credits, or $629 per ounce AuEq sold
- $1.6 million dividend distributions, or $0.03 per share for quarter
Overview of Q2 2015 Aguila Project Results
Gold Resource Corporation’s Aguila Project produced 14,858 ounces AuEq at a total cash cost of
$533 per ounce (after by-product credits). Realized average metal price sales during the quarter
were $1,201 per ounce gold and $16.70 per ounce silver. The Company recorded net income of
$0.8 million, or $0.01 per share. Cash Flow from Mine Site Operations totaled $9.4 million. The
Company paid $1.6 million to shareholders in dividends, or $0.03 per share during the quarter.
Cash and cash equivalents at quarter end totaled $21.0 million. Realized gold and silver prices
decreased 5.9% and 11.9%, respectively, compared to the second quarter of 2014.
Gold Resource Corporation’s CEO and President, Mr. Jason Reid stated:
“Halfway through the 2015 production year, the Company has produced 15,135 ounces of gold and 1,370,625 ounces of silver, delivering approximately 96% of expected gold production and 92% of 2 expected silver production of the Company’s lower range 2015 annual Outlook. Many of the challenges during the second quarter are behind us, such as the ancillary effects of the protest and work stoppage and third quarter mine improvements are underway, including implementing longterm solutions to help remediate the excess water issues. The Company believes the lower range of its 2015 annual production Outlook is within reach.”
Click here for the full Gold Resource Corporation (NYSE:GORO) press release.
Click here for the Gold Resource Corporation (NYSE:GORO) press profile.