Gold Resource Corporation Reports First Quarter 2021 Net Income of $2.5 Million or $0.03 per Share on Revenue of $27.3 Million
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GRC") produced 6,097 gold ounces and 307,610 silver ounces or a total of 10,750 gold equivalent ounces at a cash cost of $408 per ounce, of which 5,019 gold ounces and 253,061 silver ounces were payable ounces sold or a total of 8,810 gold equivalent ounces. For the three months ended March 31, 2021, we reported net income of $2.5 million and earnings per share of $0.03 on revenues of $27.3 million.
Allen Palmiere, President and CEO, said "Our operations team continues to demonstrate their ability to be nimble and disciplined operators all while focusing on excellent environmental, social and governance practices. For the seventh consecutive year, the Don David Gold Mine earned the prestigious Empresa Socialmente Responsable award from the Mexican Center for Philanthropy. Gold production in the first quarter was as expected while silver and base metal production were modestly behind forecast as the team proactively addressed challenging ground conditions with a change in mine sequencing and the use of paste fill. Our all-in sustaining cost per ounce were $937 per ounce of gold equivalent, due largely to the nearly 30% reduction in treatment charges. This allowed us to reinvest $5.0 million into exploration and infrastructure improvements at the Don David Gold Mine and still end the quarter with an additional $1.8 million and a cash balance of $27.2 million as at March 31, 2021."