Gold Resource (US:GORO)2024-11-05 23:50Sales 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].