Gold Resource Corporation (NYSEAMERICAN:GORO) announced promising results Tuesday as it reported on its 2Q fiscal results, showing 9,559 ounces of gold and 467,484 ounces of silver, generating US$29.4 million in revenue for the quarter.
The firm reported US$1.8 million, or US$0.03 per share, in net income for the quarter.
“Gold Resource Corporation has now achieved dual-jurisdictional precious metal producer status in two mining friendly jurisdictions in North America," said president and CEO Jason Reid. “We now approach important near-term catalysts to increase shareholder value, including our targeted 100% increase to the company’s gold production profile once the Nevada mine is fully operational, and possible future monthly dividend increases.”
READ: Gold Resource Corp looking to shine this year as Isabella Pearl poised to add near term production
The firm said it maintains its 2019 Oaxaca Mining Unit (OMU) production outlook and plans to increase its global production outlook once commercial production levels are reached at its Nevada Mining Unit Isabella Pearl mine. The firm said it maintains its 2019 OMU annual outlook, targeting a plus or minus 10% production range of 27,000 gold ounces and 1,700,000 silver ounces.
The firm has had a promising start to 2019, after producing gold at Isabella Pearl in just over 10 months of breaking ground on the project, with the project now in the gold production ramp-up phase.
The firm is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.
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