Gold Resource (GORO) - 2025 Q1 - Quarterly Results

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$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].