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Gold Resource (GORO) - 2025 Q2 - Quarterly Results
2025-07-31 00:11
Exhibit 99.1 NEWS - FOR IMMEDIATE RELEASE NYSE American: GORO July 30, 2025 Gold Resource Corporation Reports H1 2025 Drilling Results and Operational Improvements at the Don David Gold Mine DENVER – July 30, 2025 – Gold Resource Corporation (NYSE American: GORO) ("we," "us," "our" or the "Company") is pleased to report highlights to date from its 2025 underground drilling campaign and provide an operational update from the Company's Don David Gold Mine ("DDGM") in Oaxaca, Mexico. Highlights 2025 DRILLING S ...
异动盘点0709|Fortior首挂涨超12%;宁德时代涨超 3%;英特尔因大裁员涨超7%
贝塔投资智库· 2025-07-09 04:01
Key Points - The article highlights significant stock movements in the Hong Kong and US markets, with various companies experiencing notable gains and losses due to recent developments and announcements [1][2][3][4][5] Hong Kong Market Highlights - China Rare Earth Holdings (03788) surged nearly 20%, with a year-to-date increase of 320%, as the company proposed a spin-off of its gold segment for independent listing on the Hong Kong Stock Exchange [1] - Innovent Biologics (09969) rose nearly 4% after announcing the clinical approval of its new ADC innovative drug ICP-B794 [1] - North Sea Kangcheng - B (01228) increased over 50%, with its stock price doubling in three days, marking it as a rare disease stock in the Hong Kong market [1] - Hong Kong Travel (00308) saw a rise of over 24%, achieving a year-to-date stock price doubling, driven by market speculation on stablecoin cross-border payment scenarios [1] - CSPC Pharmaceutical Group (01093) gained nearly 3% after receiving drug registration approval for Mesalazine enteric-coated tablets, enhancing its product line in the immune system treatment sector [1] - Ruian Real Estate (00272) rose over 4%, with a cumulative contract property sales amount for the first six months increasing by 457% year-on-year [1] - Cornerstone Pharmaceuticals - B (02616) increased over 3%, planning to raise HKD 467 million for clinical research on CS2009 [1] - Q Technology (01478) rose over 7%, with mobile camera module sales of 32.648 million units in June, a year-on-year increase of 1.5% [1] - Dekang Agriculture and Animal Husbandry (02419) increased by 6%, with a new cycle logic continuing to strengthen, and Tianfeng Securities set a target price of HKD 154 [1] - Contemporary Amperex Technology (03750) rose over 3%, reaching a new high since its listing, following a deepened strategic cooperation agreement with Geely Automobile [2] - Gaming stocks continued to rise, with Wynn Macau (01128) up 6.49%, New World Development (00200) up 6.15%, and others showing similar gains [2] - Gold stocks faced declines, with Golden Resources (GORO.US) dropping nearly 10% and others following suit [4] US Market Highlights - Stablecoin concept stocks continued to rise, with Tiger Brokers (TIGR.US) increasing over 8% [4] - Trump Media & Technology Group (DJT.US) rose over 2% as the company seeks SEC approval for a blue-chip cryptocurrency ETF [4] - Wolfspeed (WOLF.US) continued to rise, with stock prices increasing over 9% [4] - Intel (INTC.US) rose over 7% after announcing company-wide layoffs [4] - JD.com (JD.US) increased over 2% as it launched its "Double Hundred Plan" for its delivery service [4]
Gold Resource (GORO) - 2025 Q1 - Quarterly Report
2025-05-12 21:15
Production and Sales - In Q1 2025, the company produced and sold a total of 3,394 gold equivalent ounces, including 859 gold ounces and 230,320 silver ounces, at average sales prices of $2,956 and $32.54 per ounce, respectively[13]. - Mechanical issues at the mill and aging mining equipment have significantly impacted production estimates, leading to a current inability to achieve production targets[11]. - The company has identified additional step-out targets for future drilling at the Three Sisters and Arista vein systems, with exploration drilling expected to resume once working capital improves[13]. Financial Performance - The net loss for the quarter was $8.3 million, or $0.07 per share, primarily due to lower production and decreased net sales[13]. - Total cash cost after co-product credits for the quarter was $2,494 per AuEq ounce, while the all-in sustaining cost (AISC) was $3,252 per AuEq ounce[13]. - The company has $6.2 million in working capital and $4.9 million in cash as of March 31, 2025[13]. - A tax refund of 79.6 million pesos (approximately $4.0 million) was received on May 7, 2025, from overpaid taxes in 2023[17]. Capital Requirements and Future Operations - The company requires approximately $7.0 million for additional mining equipment and mill upgrades, and an estimated $8.0 million in working capital over the next 12 months for initial development[15][16]. - If the company cannot secure additional capital and develop new mining areas, continued operation of the mine may not be feasible beyond Q3 2025[18]. Currency Exposure - Approximately 50% to 60% of the company's expenses are paid in currencies other than the U.S. dollar, exposing it to foreign currency exchange rate fluctuations[220].
Gold Resource (GORO) - 2024 Q4 - Earnings Call Transcript
2025-04-09 16:00
Financial Data and Key Metrics Changes - 2024 was a challenging year for the company, with a cash balance decrease of $4.7 million, attributed to exploration and overhead costs [23][20] - The company managed to cover operational costs despite lower production levels [24] Business Line Data and Key Metrics Changes - The introduction of the Three Sisters system is expected to improve mining efficiency and ore quality, with higher grades projected compared to existing areas [8][10] - The company plans to increase daily production from the current levels to 1,300 tons and eventually to 1,500 tons [13][18] Market Data and Key Metrics Changes - The company is currently negotiating with a contractor to enhance productivity and is evaluating funding sources to support operational improvements [11][13] Company Strategy and Development Direction - The company is focusing on exploration to increase reserves and has successfully discovered the Three Sisters system, which is expected to lower mining costs and improve profitability [8][10] - Plans are in place to mobilize a contractor in Q2 and to have new equipment operational by Q3, aiming to be cash positive by the end of Q3 [14][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the difficulties faced in 2024, including natural disasters and equipment constraints, but expressed confidence in the path forward with the Three Sisters development [6][25] - The company aims to restore profitability and shareholder value through planned operational improvements and increased production [25][74] Other Important Information - The company celebrated a milestone of one year without a lost time injury, reflecting a commitment to workplace safety [15] - A significant restatement of the BAC 40 project gold and silver stream liabilities was noted, which did not affect the company's cash position [21][22] Q&A Session Summary Question: Development cadence for the Three Sisters system - Management confirmed that they have already intersected the first vein structure and expect to ramp up production significantly by early next year [31][33] Question: Breakdown of the $8 million development capital - Development costs will be heavily weighted towards Q2 and Q3, with a total development budget exceeding $20 million for the year [36][37] Question: Long-term cost reduction strategies - Management discussed the contractor's role in increasing volume and reducing unit costs through fixed cost absorption and acquiring a new mining fleet to improve mechanical availability [43][44] Question: Dependence on buyers and insider buying - Management clarified that current buyers are not located in Asia and addressed concerns regarding insider buying, emphasizing the need for stability before executives can purchase shares [58][66] Question: Executive compensation tied to performance - Management confirmed that executive compensation includes performance-based incentives, but noted that there have been no awards in recent years due to the company's challenges [69]
Gold Resource (GORO) - 2025 Q1 - Quarterly Results
2025-05-12 23:30
Production and Sales - Gold Resource Corporation produced and sold a total of 18,580 gold equivalent ounces in 2024, comprising 8,598 gold ounces and 817,333 silver ounces, with average prices of $2,354 and $28.75 per ounce respectively[11]. - Gold Resource Corporation focuses on gold and silver production, with operations centered on the Don David Gold Mine in Oaxaca, Mexico[19]. Financial Performance - The company reported a cash and cash equivalent balance of $1.6 million as of December 31, 2024, a decrease of $4.6 million from the previous year, primarily due to capital investments of $6.4 million and operating cash outflows[11]. - Working capital decreased by 86% to $2.1 million from $15.2 million in 2023, driven by a decline in cash balance and lower annual gold production[11]. - Total cash costs per gold equivalent ounce sold were $2,330, while total all-in sustaining costs were $2,939[11]. - The company raised $2.5 million through a registered direct offering and $3.0 million through its ATM Program in early 2025 to support its financial needs[12]. Capital Expenditures and Development Plans - The company requires approximately $7.0 million for additional mining equipment and mill upgrades, along with $8.0 million in working capital over the next 12 months for initial development[10]. - The company plans to secure a third filter press to increase processing throughput from 1,300 tonnes/day to 1,500 tonnes/day, which is expected to significantly impact profitability due to fixed costs[5]. - Future development plans include the Back Forty Project in Michigan, USA[19]. - The company is negotiating with a contractor to develop and produce from the Three Sisters vein system, with operations expected to start in April 2025[5]. Safety and Operational Efficiency - The company achieved an Accident Free Full Year with a lost time injury frequency rate of zero, reflecting the effectiveness of its safety program[5]. - The exploration program successfully increased the potential resources and confidence in the Three Sisters vein system, despite suspending exploration drilling in August 2024 to conserve cash[6]. Strategic Initiatives and Leadership - The company has a dedicated leadership team to guide its strategic initiatives and operational goals[19]. - The company is currently negotiating with contractors and acquiring equipment, which are critical for its operations[20]. - Anticipated near-term capital needs and potential sources of capital are being evaluated[20]. - The company expects to maintain cash flow and productivity levels to support ongoing operations[20]. - There are risks and uncertainties associated with the company's forward-looking statements, which may affect actual results[20]. - The company will continue to file periodic reports with the SEC, providing updates on its financial status and operational performance[20]. Contact Information - For further inquiries, the Chief Financial Officer can be contacted directly[21].
Gold Resource (GORO) - 2024 Q4 - Annual Report
2025-04-08 20:46
Production and Sales - The Company produced and sold a total of 18,580 gold equivalent ounces, consisting of 8,598 gold ounces and 817,333 silver ounces, sold at average prices of $2,354 and $28.75 per ounce, respectively[22]. - The Company produced and sold a total of 18,580 gold equivalent ounces, including 8,598 gold ounces and 817,333 silver ounces, at average prices of $2,354 and $28.75 per ounce, respectively[22]. Financial Performance - The cash and cash equivalent balance at year-end 2024 was $1.6 million, a decrease of $4.6 million from the previous year, primarily due to $6.4 million in capital investments and $0.6 million in operating activities[22]. - The cash and cash equivalent balance decreased by $4.6 million to $1.6 million as of December 31, 2024, primarily due to a cash outflow of $6.4 million for capital investments and $0.6 million from operating activities[22]. - Working capital at December 31, 2024, was $2.1 million, reflecting an 86% decrease from $15.2 million at the end of 2023[22]. - Working capital at December 31, 2024, was $2.1 million, an 86% decrease from $15.2 million at December 31, 2023, driven by a decline in cash balance and lower annual gold production[22]. - Total cash costs per gold equivalent ounce sold for the year were $2,330, while the all-in sustaining cost was $2,939[22]. - Total cash costs per gold equivalent ounce sold for the year were $2,330, while total all-in sustaining costs were $2,939[22]. - The Company anticipates requiring approximately $7.0 million for additional mining equipment and mill upgrades, along with $8.0 million in working capital over the next 12 months[25]. - The Company requires approximately $7.0 million for additional mining equipment and mill upgrades, and expects to need about $8.0 million in working capital over the next 12 months for initial development[25]. - The Company raised $2.5 million through a registered direct offering and $3.0 million through its ATM Program in early 2025[25]. - The Company raised $2.5 million through a registered direct offering in January 2025 and $3.0 million through its ATM Program in January and February 2025[25]. Operational Challenges - The Company faced significant declines in tonnes and grade at the Don David Gold Mine due to equipment availability issues and mechanical problems, impacting production estimates[23]. - The Company is currently mining only one face at a time due to equipment availability issues, which has impacted production estimates[23]. - The Company believes that without investment in new areas, it will not generate sufficient free cash flow in the near term[24]. - If the Company cannot secure additional capital, continued operation of the mine may not be possible beyond the first half of 2025[26]. - The Company is evaluating various financing options to fund the development of new mining areas, as continued operation of the mine may not be possible beyond the first half of 2025 without additional capital[26]. Exploration and Development - The exploration program was suspended on August 1, 2024, but infill drilling completed in 2024 increased resource potential and confidence in the Three Sisters and North Arista vein systems[22]. - The exploration program showed positive results, particularly in the Three Sisters and North Arista vein systems, although exploration drilling was suspended on August 1, 2024, to preserve cash[22]. - The Company received the Mexican Empresa Socialmente Responsable ("ESR") award for the tenth consecutive year in 2024[22].
Gold Resource (GORO) - 2024 Q3 - Quarterly Results
2024-11-05 23:50
Sales Performance - In Q3 2024, Gold Resource Corporation sold 1,357 ounces of gold and 181,434 ounces of silver, totaling 3,526 gold equivalent ounces (AuEq) sold[1]. - For the nine months ending September 30, 2024, the company sold 15,325 AuEq ounces, a decrease from 24,306 AuEq ounces in the same period of 2023, representing a decline of approximately 37%[2]. Pricing Trends - Average realized gold price in Q3 2024 was $2,561 per ounce, up 32% from $1,934 per ounce in Q3 2023[2]. - Average realized silver price in Q3 2024 was $30.61 per ounce, an increase of 29.5% compared to $23.61 per ounce in Q3 2023[2]. Production Challenges - The company faced significant production challenges due to equipment availability issues and mechanical problems, leading to a decline in tonnes milled and average grades[4]. Financial Needs and Risks - The company anticipates needing approximately $7 million for mining equipment and mill upgrades, along with $8 million in working capital for initial development of new mining areas[6]. - If the company cannot secure additional capital, continued operation of the mine may not be feasible beyond November 2024[7]. - The company is evaluating various financing options to address short-term liquidity concerns due to production shortfalls[6]. Future Potential - The Don David Gold Mine has potential for positive cash flow, but requires investment in equipment and mine planning to access new areas[5]. Communication Decisions - The company has decided not to host a Q3 2024 conference call[8].
Gold Resource (GORO) - 2024 Q3 - Quarterly Report
2024-11-05 22:36
Production and Sales - In Q3 2024, the Don David Gold Mine produced and sold 3,526 gold equivalent ounces, including 1,357 gold ounces and 181,434 silver ounces, at average sales prices of $2,561 and $30.61 per ounce, respectively[6]. - The mine's production estimates have been significantly impacted by equipment availability issues and weather-related challenges, leading to mining only one face at a time[7]. - Gold sales in Q3 2024 were 1,357 ounces, down 66% from the same period in 2023; silver sales decreased by 13% to 181,434 ounces[123]. - Year-to-date gold sales for 2024 were 7,638 ounces, down 48% compared to the same period in 2023[126]. - For the nine months ended September 30, 2024, total tonnes milled were 276,266, a 20% decrease from the same period in 2023[117]. - In Q3 2024, total tonnes milled were 83,690, representing a 28% decrease compared to Q3 2023[114]. Financial Performance - The net loss for Q3 2024 was $10.5 million, or $0.11 per share, primarily due to decreased net sales from production challenges and unfavorable weather conditions[6]. - For the nine months ended September 30, 2024, the net loss was $42.25 million, compared to a net loss of $12.96 million for the same period in 2023[17]. - The company has encountered a mine gross loss of $8.67 million for Q3 2024, compared to a loss of $4.41 million in Q3 2023[12]. - The company recorded a net loss of $42.3 million for the nine months ended September 30, 2024, compared to a net loss of $13.0 million during the same period in 2023, reflecting a $29.3 million increase in net loss[143]. - The company reported a total other expense of $2.977 million for the three months ended September 30, 2024, compared to $1.967 million for the same period in 2023[74]. Costs and Expenses - Total cash cost after co-product credits was $3,560 per AuEq ounce, while the all-in sustaining cost (AISC) was $5,072 per AuEq ounce for the quarter[6]. - Total cost of sales for Q3 2024 was $21.9 million, a decrease of 12% from $25.0 million in Q3 2023[132]. - Total cash cost after co-product credits per AuEq ounce sold was $3,560 in Q3 2024, significantly higher than $1,839 in Q3 2023[130]. - Total consolidated all-in sustaining cost after co-product credits per AuEq oz sold for the nine months ended September 30, 2024, was $3,037, compared to $1,852 for the same period in 2023[161]. - General and administrative expenses for the nine months ended September 30, 2024, were $3.0 million, down 42% from $5.1 million for the same period in 2023 due to cost-saving measures[151]. Cash and Working Capital - The company has $6.1 million in working capital and $1.4 million in cash as of September 30, 2024[6]. - Cash and cash equivalents decreased to $1.35 million as of September 30, 2024, down from $6.71 million at the end of September 2023[17]. - As of September 30, 2024, working capital decreased by $9.1 million, or 60%, to $6.1 million from $15.2 million as of December 31, 2023[171]. - The company is currently seeking financing to raise cash for working capital due to substantial doubt about its ability to continue as a going concern[23]. Investments and Capital Expenditures - The company anticipates needing approximately $7 million for additional mining equipment and mill upgrades, including $2.5 million for mill upgrades and $4.5 million for mining equipment[8]. - The company reported capital expenditures of $6.35 million for the nine months ended September 30, 2024, compared to $9.75 million for the same period in 2023[17]. - Total capital and exploration investments for the nine months ended September 30, 2024, amounted to $9.964 million, a decrease from $14.990 million in the same period of 2023[163]. Safety and Compliance - The company has a zero Lost Time Injury Frequency Rate (LTIFR) safety record year-to-date, emphasizing its commitment to safety[6]. - The company has no liability for uncertain tax positions as of September 30, 2024, despite a sanction notification from the Mexican Tax Administration Services amounting to approximately $17 million[31]. Market and Economic Conditions - The company's operations and financial condition are significantly influenced by the market prices of gold, silver, copper, lead, and zinc, which are subject to wide fluctuations due to various external factors[190]. - The company faces risks from commodity price fluctuations, foreign currency exchange rates, and provisional sales contract risks, which could materially impact its financial results[189]. - The company does not currently utilize derivative financial instruments to manage market risks but may consider such strategies in the future[189]. Future Outlook - The company plans to adopt new segment reporting disclosures effective for fiscal years beginning after December 15, 2023, which may enhance transparency in financial reporting[20]. - The company plans to release a resource estimate update in Q1 2025, indicating a positive increase in tonnage and higher grades in the Three Sisters and Gloria vein systems[105]. - The company is evaluating various financing options to fund necessary developments in the near term to avoid placing the mine on "care and maintenance" status[8].
Gold Resource (GORO) - 2024 Q2 - Earnings Call Transcript
2024-08-10 01:17
Financial Data and Key Metrics Changes - The company reported a net loss of $27.7 million for Q2 2024, primarily due to a $16.5 million valuation allowance to write off deferred tax assets in Mexico and $3.7 million in interest on streaming liability [10][11] - Cash balance decreased to $5.3 million, attributed to lower sales and production [10] - Net sales for Q2 2024 were $20.8 million, a 16% decrease compared to the same period in 2023 [10] Business Line Data and Key Metrics Changes - Production for Q2 reached approximately 94,000 tonnes, with 2,724 ounces of gold and over 234,000 ounces of silver sold, equating to over 5,625 gold equivalent ounces [8][9] - Year-to-date production through June 30 included nearly 192,000 tonnes of ore processed, with 7,700 ounces of gold and over 514,000 ounces of silver sold [8] - Mining development costs decreased by 10% on a cost per meter basis, and infill drilling unit costs were reduced by 20% compared to 2023 [9][11] Market Data and Key Metrics Changes - The significant devaluation of the peso positively impacted operating costs, as approximately 50% of costs are denominated in pesos [4][5] - The company anticipates that the strengthening dollar against the peso will offset some negative impacts from lower metal prices [12] Company Strategy and Development Direction - The company is exploring various alternatives to increase productivity and profitability, with expectations of positive cash flow by Q4 2024 [4][5] - Long-term plans include accelerating access to new areas, specifically the Three Sisters and Gloria zones, with potential access expected in Q1 2026 [5][25] - The focus remains on exploration in Don David to generate cash flow rather than progressing with the Back Forty project due to current financial constraints [31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as lower mine production due to weather conditions and work stoppages but expressed confidence in the team's ability to navigate these issues [3][4] - The company is not anticipating significant weather-related impacts in Q3 or Q4, with expectations for improved throughput rates [14][18] - Management indicated that grades are expected to improve in Q3 and Q4, with a potential step change in grades anticipated when accessing the new mineralized zones [25][26] Other Important Information - The company maintained a strong safety record with zero lost time incidents during Q2 [6] - Cost-saving initiatives have been implemented, resulting in reduced development unit costs and improved efficiencies [7][9] Q&A Session Summary Question: Impact of heavy rain on throughput rates - Management explained that excessive rain in June caused operational disruptions but does not anticipate similar impacts in Q3 or Q4 [14] Question: Foreign exchange hedging programs - Management confirmed discussions on implementing hedges for the peso due to its significant impact on operating costs [15] Question: Weather impact in July and August - Management stated that while occasional rains continue, they do not expect significant production impacts [17] Question: Drilling costs and outlook - Management reported a decrease in drilling costs per meter due to a new contractor and does not foresee significant increases [20] Question: Potential for grade improvement - Management indicated that grades are expected to improve in Q3 and Q4, with significant improvements anticipated when accessing new mineralized zones [25][26] Question: Update on Back Forty project - Management noted that the project is currently not progressing due to financial constraints and will focus on generating cash flow from existing operations [31][32]
Gold Resource (GORO) - 2024 Q2 - Quarterly Results
2024-08-06 22:00
Production and Sales - In Q2 2024, Gold Resource Corporation produced and sold 2,724 ounces of gold and 234,560 ounces of silver, along with 1,771 tonnes of zinc, 197 tonnes of copper, and 491 tonnes of lead[2]. - The Don David Gold Mine produced a total of 5,625 gold equivalent ounces in Q2 2024, with 2,724 gold ounces and 234,560 silver ounces contributing to this total[4]. - The average grade of gold mined in Q2 2024 was 1.27 g/t, while silver averaged 102 g/t[6]. Financial Performance - The company reported a net loss of $27.7 million, or $0.30 per share, which included a $16.5 million tax expense related to deferred tax assets[3]. - The total cash balance was $5.3 million and working capital was $14.3 million as of June 30, 2024[2]. - The total capital and exploration investment for the first half of 2024 was $5.726 million, with full-year guidance set between $12.0 million and $16.2 million[5]. - The average sales price per ounce for gold was $2,465 and for silver was $30.49 during the second quarter[4]. Operational Challenges - The company experienced production delays due to excessive rains and social issues in Mexico, but offset these with higher-than-expected metal prices[2]. Strategic Focus and Risks - The company aims to expand resources and reserves through ongoing drilling programs, particularly in the Three Sisters and Gloria vein systems[4]. - The Company faces risks related to retaining key personnel and maintaining relationships with suppliers and shareholders, which could adversely affect operating results[10]. - There are potential unexpected costs or expenses arising from the strategic alternatives review process[10]. - The strategic alternatives review may divert management's attention and time from other critical business operations[10]. - The Company is exposed to risks of litigation related to the strategic alternatives review[10]. - The risks and uncertainties are detailed in "Item 1A. Risk Factors" of the Annual report on Form 10-K for the year ended December 31, 2023[10]. Safety Performance - Gold Resource Corporation continues to focus on safety, achieving a "ZERO" Lost Time Injury Frequency Rate year-to-date[4].