Gold Resource Corp (AMEX:GORO) declared late Thursday its monthly dividend of five cents per share for February.
The Mexico-focused producer, which began commercial production from
its El Aguila project in Oaxaca, Mexico in July 2010, said the dividend
is payable on March 23, 2012, to shareholders of record as of March 12,
The payment represents the twentieth dividend in as many months of commercial production.
The company has now returned over $36 million to its shareholders
through dividends since the start of commercial production in 2010.
In late January, the company unveiled preliminary fourth quarter and
record full year production numbers, paving the way for a robust outlook
The gold company said it produced around 66,125 ounces of precious
metal gold equivalent in 2011, in line with its own outlook of between
60,000 to 70,000 ounces for the year.
Of the total 2011 output, 19,900 ounces of gold equivalent was produced in the fourth quarter, Gold Resource Corp said.
The company also said that as part of its normal operating procedure,
the Aguila mill was shut down during the last 10 days of 2011 and the
first five days of 2012 for routine maintenance, holidays and the
installation of an expanded cleaner flotation circuit.
The new circuit is part of the gold producer's ongoing mill optimization, and could provide opportunities for future expansion.
The Aguila mill is now back online and based on the company’s prior
and current performance, it has set its 2012 outlook for production in
the range of 120,000 to 140,000 ounces gold equivalent.
It is also targeting a cash cost between $50 to $150 per ounce of gold equivalent in 2012.