Gold Resource Corporation Reports Strong Year to Date Operating Cash Flow of $16.1 Million
ACCESSWIRE
REVENUE STRONG AT $30.8 million
Cash of $30.5 Million at June 30, 2021
IMPLEMENTED PROFIT SHARING WITH OUR EMPLOYEES
FILTRATION PLANT AND DRY STACK EXPECTED TO BE ON BUDGET AND DELIVERED IN Q3 2021
DENVER, CO / ACCESSWIRE / July 27, 2021 / Gold Resource Corporation (NYSE American:GORO) (the '
Company ', '
Our ' or '
GRC ') earned net income of $1.3 million or earnings of $0.02 per share reflecting the adoption of the new Mexican labor reform, effective June 2021, pursuant to which we onboarded all employees from the outsourced third-party provider to our wholly owned subsidiary, Don David Gold Mexico, resulting in a $1.9 million impact on net income. Revenues were strong at $30.8 million and were greater than both the same period in 2020, which had an interruption in production due to COVID-19 and the same period in 2019, which was a more normal year of mining. Cash flow from operating activities was $9.3 million in the second quarter of 2021 bringing our cash at June 30, 2021 to $30.5 million, an increase of $5.1 million for the first six months. The Company produced and sold 9,685 gold equivalent ounces, comprising 5,697 gold ounces and 270,321 silver ounces at an average price per ounce of $1,822 and $26.88, respectively resulting in a total cash cost of $713 per ounce of gold equivalent and an all-in sustaining cost of $1,280 per ounce of gold equivalent.