Financial Position - As of June 30, 2024, the company has $5.3 million in cash and $14.3 million in working capital[3]. - The total shareholders' equity as of June 30, 2024, is $67.0 million, down from $106.7 million a year earlier[11]. - As of June 30, 2024, total inventories were $8,979,000, a slight decrease from $9,294,000 as of December 31, 2023[19]. - The total liabilities and shareholders' equity as of June 30, 2024 were $162,730,000, consistent with the previous reporting period[77]. - Total current assets as of June 30, 2024 were $26,601,000, an increase from $26,495,000 as of December 31, 2023[77]. - The company had cash and cash equivalents of $5.3 million as of June 30, 2024, down from $6.3 million as of December 31, 2023[72]. - Working capital as of June 30, 2024, was $14.3 million, a decrease of 6% from $15.2 million as of December 31, 2023[144]. Revenue and Sales Performance - For the three months ended June 30, 2024, total net sales were $20,782,000, a decrease of 16.4% compared to $24,807,000 in the same period of 2023[18]. - For the six months ended June 30, 2024, total net sales were $39,484,000, down 29.6% from $56,035,000 in the same period of 2023[18]. - Net sales for the three months ended June 30, 2024, were $20.8 million, a decrease of 16% from $24.8 million in the same period in 2023[114]. - Gold sales decreased by 36% to 2,724 ounces, and silver sales decreased by 14% to 234,560 ounces during the second quarter of 2024[103]. - The financial results were negatively impacted by a stronger Mexican peso and lower zinc and lead prices realized in 2024 compared to 2023[105]. Losses and Expenses - The net loss for the quarter was $27.7 million, or $0.30 per share, which includes a $16.5 million tax expense and $3.7 million in additional interest on streaming liabilities[4]. - The company reported a net loss of $31,755,000 for the three months ended June 30, 2024, compared to a net loss of $5,619,000 for the same period in 2023[13]. - The company recorded a net loss of $27.7 million for the three months ended June 30, 2024, compared to a net loss of $4.6 million in the same period in 2023[114]. - The company reported a net loss of $31.8 million for the six months ended June 30, 2024, compared to a net loss of $5.6 million in the same period in 2023, reflecting a $26.1 million increase in losses[125]. - Total other expenses for the three months ended June 30, 2024, amounted to $6.4 million, a substantial increase from $0.7 million in the same period of 2023[65]. Production and Costs - The company produced and sold a total of 5,625 gold equivalent ounces during the second quarter, with an average sales price of $2,465 per gold ounce and $30.49 per silver ounce[5]. - Total cash cost after co-product credits was $1,950 per gold equivalent ounce, while the all-in sustaining cost was $2,661 per AuEq ounce[4]. - The total cost of sales for the six months ended June 30, 2024, was $45.2 million, compared to $54.3 million in 2023[114]. - The total cost of sales for Q2 2024 was $24.4 million, a decrease of 10% from $27.0 million in Q2 2023, primarily due to a $2.5 million decrease in production costs[115]. - The total all-in cost after co-product credits for Q2 2024 was $15,295,000, compared to $16,888,000 in Q2 2023, showing a decrease of approximately 9.4%[142]. Tax and Regulatory Matters - The company recorded income tax provisions of $16.5 million and $14.6 million for the three and six months ended June 30, 2024, respectively[20]. - The company has a valuation allowance on Mexico Income Tax net deferred tax assets amounting to $12.8 million as of June 30, 2024[22]. - The company received a notification from the Mexican Tax Administration Services with a sanction of approximately $18 million as a result of a 2015 tax audit[25]. - The consolidated effective tax rate for the company is influenced by the tax rates in Mexico (37.5%) and Canada (26.5%) which are higher than the U.S. federal rate of 21%[21]. Operational Updates - The underground diamond drilling program is progressing as planned, focusing on upgrading Inferred resources to Measured and Indicated categories[5]. - The exploration drilling program aims to identify new mineralization and upgrade existing resources, with a resource estimate update scheduled for Q4 2024[89]. - The company has implemented cost reduction initiatives that have proven effective despite external challenges, maintaining operational stability[86]. - The company continues to evaluate strategic alternatives to enhance shareholder value and improve operations[83]. Market and Currency Risks - The company’s operations and financial condition are significantly influenced by the market prices of gold, silver, copper, lead, and zinc, which can fluctuate widely due to various external factors[154]. - Fluctuations in foreign currency exchange rates can materially affect operating results, particularly when the value of the Mexican peso changes relative to the U.S. dollar[157]. - The company does not currently utilize derivative financial instruments to manage market risks but may consider such arrangements in the future[153]. - Changes in commodity prices can lead to significant fluctuations in revenues, potentially requiring reassessment of project feasibility[155].

Financial Data and Key Metrics Changes - For Q1 2024, the company reported a net loss of $4 million or $0.05 per share, with net sales of $18.7 million, which is 40% lower than the same period in 2023 due to lower volumes of all metals sold and a 22% decrease in zinc prices [11][12][36] - Cash provided by operating activities was $1.5 million, including $900,000 spent on exploration in Mexico and over $200,000 on the Back Forty optimization project in Michigan [25] - The cash balance at the end of the quarter was $5.7 million, reflecting a decline primarily due to lower sales and increased cash costs [34] Business Line Data and Key Metrics Changes - The company processed nearly 98,900 tonnes of ore, selling approximately 3,567 ounces of gold and 216,000 ounces of silver, equating to over 5,965 gold equivalent ounces [9] - Total cash cost after co-product credit was $1,667 per gold equivalent ounce sold, with all-in sustaining cash cost at $2,295 per ounce [39] - Production costs for the quarter were approximately $16.1 million, slightly lower than the prior year, but lower tonnes processed and gold equivalent ounces sold negatively impacted unit costs [35] Market Data and Key Metrics Changes - The Mexican peso remained stronger than planned against the US dollar, adversely affecting production and capital costs [6] - The company noted a lower-than-forecast price of zinc, which negatively impacted byproduct revenues [6] Company Strategy and Development Direction - The company is focused on reducing costs and increasing productivity while exploring strategic alternatives to unlock shareholder value [14] - Exploration efforts are concentrated in areas known as the Three Sisters: Gloria, Marena, and Splay 31, which are critical for future development [21] - The company plans to replace aging mining equipment to reduce operating costs significantly [66] Management Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in the quarter, including fluctuating commodity prices and foreign exchange rates, but expressed optimism about improving cash generation due to rising commodity prices and a softening peso [14][27] - The management team is confident in the exploration results and believes they point to a bright future for the company [14] Other Important Information - The company experienced equipment availability issues due to an aging fleet and unexpected poor ground conditions, necessitating a redevelopment of the mine plan [41] - The company is undertaking a process review in the concentrator to improve recoveries, which initially resulted in lower-than-anticipated recoveries but showed positive results by the end of the quarter [7][27] Q&A Session Summary Question: What improvements have been seen regarding throughput and recoveries in Q2? - Management indicated that throughput was down primarily due to design, but they are on budget aiming for about 1,200 tonnes per day throughput this year. Recoveries were down due to optimization efforts affecting circuit balance, but stability was achieved in Q1, with anticipated improvements in Q2 [45][56] Question: Can you discuss your hedging strategies regarding the peso and base metal prices? - Management noted that the peso is volatile, and while they are monitoring the situation, they would consider hedging if the peso softens further. They have hedged zinc in the past but currently see no opportunity to hedge due to low prices [62][74] Question: Have you identified opportunities to target more precious metal-rich areas? - Management stated that while they will target higher precious metal grades, flexibility is limited due to the current mine plan. They anticipate better results from exploration in 2025 [69]

Production and Sales - Gold Resource Corporation produced and sold 3,557 ounces of gold and 216,535 ounces of silver in Q1 2024[5] - Total tonnes milled in Q1 2024 reached 117,781, an increase from 113,510 in Q4 2023[10] - Gold production in Q1 2024 was 7,171 ounces, up from 4,637 ounces in Q4 2023[10] - Silver production in Q1 2024 was 322,676 ounces, compared to 289,816 ounces in Q4 2023[10] - Total sales for Q1 2024 amounted to $31,228,000, an increase from $24,807,000 in Q4 2023[10] Financial Performance - The company reported a net loss of $4.0 million, equating to $0.05 per share, after incurring $0.9 million in exploration development expenses[6] - Net loss for Q1 2024 was $1,035,000, an improvement from a net loss of $4,584,000 in Q4 2023[10] - Total cash cost after co-product credits was $1,667 per gold equivalent ounce, while total all-in sustaining cost was $2,295 per gold equivalent ounce[6] - The average sales price per ounce for gold was $2,094 and for silver was $23.29 during the quarter[6] - The company had a cash balance of $5.7 million and working capital of $13.6 million as of March 31, 2024[5] Capital and Investment - Total capital and exploration investment for Q1 2024 was $3.179 million, with full-year guidance set between $12.0 million and $16.2 million[9] - Sustaining investments totaled $2.075 million, while growth investments amounted to $1.104 million in Q1 2024[9] Exploration and Development - The underground diamond drilling program progressed as planned, focusing on upgrading Inferred Resources to Measured and Indicated categories[6] - The company continued its exploration program, yielding positive results in the recently discovered Three Sisters and Gloria vein systems[2] - The company is focused on expanding its operations in Oaxaca, Mexico, and developing the Back Forty Project in Michigan, USA[13] Safety and Operational Efficiency - There were no lost time incidents during the quarter, maintaining a year-to-date Lost Time Injury Frequency Rate of Zero[6] - Production costs per tonne milled in Q1 2024 were $169, compared to $179 in Q4 2023[10] Strategic Alternatives and Risks - The company is exploring strategic alternatives, including a potential sale, which may impact its financial condition and results[14] - There are risks associated with the strategic alternatives review that could affect the company's ability to retain key personnel and maintain business relationships[15] - The strategic alternatives review may divert management's attention and could incur unexpected costs or expenses[15] - The company faces risks of litigation related to the strategic alternatives review[15] - The risks and uncertainties associated with the review are detailed in the company's Annual report on Form 10-K for the year ended December 31, 2023[15] Forward-Looking Statements - The management believes that the forward-looking statements made are reasonable at the time but cautions against undue reliance on them[14] - The company has no obligation to update or revise any forward-looking statements unless required by law[14] - The company emphasizes that forward-looking statements involve known and unknown risks that could lead to actual results differing materially from projections[14] - The strategic alternatives review process is not guaranteed to achieve its objectives[15] - The timing and structure of any potential transaction remain uncertain[14] Upcoming Events - The conference call for Q1 2024 earnings will be held on May 3, 2024, at 10:00 a.m. Mountain Time[11]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-34857 Gold Resource Corporation (Exact Name of Registrant as Specified in its charter) Colorado 84 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission File Number: 001-34857 Gold Resource Corporation (Exact name of registrant as specified in its charter) Colorad ...

Subtotal of Growth Investments 571 6,166 $6,000 – 7,000 Q4 2023 Conference Call Allen Palmiere, President & Chief Executive Officer Alberto Reyes, Chief Operating Officer Chet Holyoak, Chief Financial Officer Cautionary Note Regarding Forward-Looking Statements Forward-looking statements in this presentation are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue relia ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Securities registered pursuant to Section 12(b) of the Act: | a | Title of each class | Trading Symbol | Name of each exchange where registered | | --- | --- | --- | --- | | | Common Stock | GORO | NYSE American | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 1 ...

Gold Resource Corporation (NYSE:GORO) Q2 2023 Earnings Conference Call July 27, 2023 12:00 PM ET Company Participants Allen Palmiere - President, Chief Executive Officer & Director Kimberly Perry - Chief Financial Officer Alberto Reyes - Chief Operating Officer Conference Call Participants Heiko Ihle - H.C. Wainwright Operator Good morning, and welcome to the Gold Resource Corporation Second Quarter 2023 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mod ...

Financial Performance - Net sales for the three months ended June 30, 2023, were $24,807,000, a decrease of 32.9% compared to $37,064,000 for the same period in 2022[15]. - The company reported a net loss of $4,584,000 for the three months ended June 30, 2023, compared to a net income of $2,673,000 for the same period in 2022[15]. - For the six months ended June 30, 2023, the company reported a net loss of $5.619 million compared to a net income of $6.692 million for the same period in 2022[25]. - Total sales for the six months ended June 30, 2023, were $56.035 million, down from $82.481 million in 2022, representing a decline of approximately 32%[31]. - Mine gross profit decreased by $25.6 million, or 94%, for the six months ended June 30, 2023, primarily due to a $26.4 million decrease in net sales[161]. - The company recorded a net loss of $5.6 million for the six months ended June 30, 2023, compared to net income of $6.7 million during the same period in 2022[165]. Assets and Liabilities - Total assets decreased from $204,171,000 as of December 31, 2022, to $191,072,000 as of June 30, 2023, representing a decline of approximately 6.4%[13]. - The company's retained earnings decreased from $7,706,000 as of December 31, 2022, to $2,087,000 as of June 30, 2023, reflecting a decline of approximately 72.9%[13]. - Total current liabilities decreased from $24,682,000 as of December 31, 2022, to $19,115,000 as of June 30, 2023, a reduction of about 22.5%[13]. - Total current assets as of June 30, 2023, were $39,962,000, a decrease from $46,099,000 as of December 31, 2022, representing a decline of approximately 13.5%[108]. - Total shareholders' equity as of June 30, 2023, was $106,701,000, a decrease from $111,764,000 as of December 31, 2022, reflecting a decline of approximately 4.5%[108]. Cash Flow and Investments - Net cash provided by operating activities decreased significantly to $473 thousand from $12.206 million in the prior year[25]. - As of June 30, 2023, cash and cash equivalents were $17.957 million, down from $33.335 million at the end of the previous year[25]. - The investment in Maritime Resources Corp. was valued at $1.4 million as of June 30, 2023, down from $1.6 million at the end of 2022, representing a 12.8% decrease[42]. - The value of the investment in Green Light Metals was $3.7 million as of June 30, 2023, compared to $3.6 million as of December 31, 2022, reflecting a 2.8% increase[45]. Production and Operational Metrics - Gold production in Q2 2023 was 4,637 ounces, down 50% from 9,317 ounces in Q2 2022[130]. - Silver production increased by 16% to 289,816 ounces in Q2 2023 compared to 249,088 ounces in Q2 2022[130]. - Total tonnes milled in Q2 2023 were 113,510, a 12% decrease compared to Q2 2022[130]. - Gold equivalent ounces sold decreased to 7,689 oz in Q2 2023 from 11,475 oz in Q2 2022, representing a 32.4% decline[202]. Costs and Expenses - Total cost of sales decreased by 2% to $54.3 million for the six months ended June 30, 2023, primarily due to a $1.6 million decrease in production costs[160]. - General and administrative expenses increased by 11% to $2.1 million for the three months ended June 30, 2023, compared to $1.9 million for the same period in 2022[167]. - Total cash cost after co-product credits per AuEq oz sold increased to $1,333 for the three months ended June 30, 2023, from $247 in the same period of 2022, attributed to lower co-product credits and a 33% decrease in AuEq ounces sold[183]. - Total consolidated all-in sustaining cost after co-product credits per AuEq oz sold rose to $1,990 for the three months ended June 30, 2023, compared to $805 for the same period in 2022[184]. Future Outlook and Strategic Initiatives - The company suspended future quarterly dividends on February 13, 2023, to protect its balance sheet and focus on exploration and growth opportunities[18]. - The exploration focus for 2023 includes the Three Sisters and Gloria vein systems, with ongoing drilling aimed at expanding mineral reserves and resources[124]. - Work on optimizing feasibility for the Back Forty Project is ongoing, with current initiatives focused on finalizing financial models and considering environmental factors[195]. - The company has implemented several operational initiatives resulting in cost savings and improved efficiencies, partially offsetting increased costs due to currency fluctuations[115].

Gold Resource Corporation (NYSE:GORO) Q1 2023 Earnings Conference Call April 26, 2023 12:00 PM ET Company Participants Kim Perry - Chief Financial Officer Allen Palmiere - President and Chief Executive Officer Alberto Reyes - Chief Operating Officer Conference Call Participants Marcus Giannini - H.C. Wainwright Operator Good morning, and welcome to the Q1 2023 Earnings Call. At this time, all lines are in listen-only mode. Following management’s presentation, there will be a question-and-answer session. Ins ...