Gold Resource Corporation Reports Third Quarter Results of $19.4M in Net Revenue

Gold Resource Corporation (NYSE:GORO) announced production results for the third quarter ended September 30, 2015 of 6,825 ounces of gold, 561,985 ounces of silver ounces, or 14,133 precious metal gold equivalent (AuEq) ounces, which generated $19.4 million in net revenue for the quarter.
As quoted from the press release:

2015 Q3 HIGHLIGHTS

• 14,133 ounces AuEq mill production
• 12,773 ounces AuEq sold
• $19.4 million sales, net
• $603 total cash cost per ounce AuEq (after by-product credits)
• $6.4 million adjusted cash flow from mine site operations
• $8.3 million by-product credits, or $647 per ounce AuEq sold
• $1.6 million dividend distributions, or $0.03 per share for quarter

Overview of Q3 2015 Aguila Project Results
Gold Resource Corporation’s Aguila Project produced 14,133 ounces AuEq at a total cash cost of $603 per ounce (after by-product credits). Realized average metal price sales during the quarter were $1,115 per ounce gold and $14.50 per ounce silver. The Company recorded a net loss of $0.5 million, or $(0.01) per share. Adjusted cash flow from mine site operations totaled $6.4 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 $14.1 million. Realized gold and silver prices decreased 14% and 28%, respectively, compared to the third quarter of 2014.
Production for the first three quarters of 2015 totaled 21,960 ounces of gold and 1,932,611 ounces of silver. With the weaker than expected 2015 second and third quarter performance, the Company confirms its prior announcement related to the revised 2015 Outlook which reduced annual production targets to 29,600 gold ounces and 2,500,000 silver ounces, a reduction of 6% for gold ounces, and 16% for silver ounces.

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