Gold Resource (GORO) - 2024 Q2 - Quarterly Results

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].