Tuesday, 20 March 2012

Gold Resource Corp hires new CFO

Gold Resource Corp. (AMEX:GORO) announced Monday it has hired Brad Blacketor as chief financial officer.
With a background of more than 30 years in management and financials, he served as vice-president, CFO and secretary for Metallica Resources for 11 years.
Prior to that, Blacketor worked for Bear Creek Mining (CVE:BCM), where he also held the role of CFO.
Additionally, he has held senior management positions with companies like Pincock, Allen & Holt Inc., and Touche Ross & Co.
A graduate from Indiana University, Blacketor holds a Master's of Business Administration and is also a certified public account in Colorado.
"Blacketor’s extensive mining industry experience strengthens our management team and will make an important contribution to the company’s aggressive growth profile," president Jason Reid said in a press release.
In February, the gold producer reported record annual results, with 2011 marking its first full year of production from its El Aguila operations in Oaxaca, Mexico.
The gold company, which began commercial production from its El Aguila project in Oaxaca, Mexico in July 2010, posted net income of $58.37 million, or $1.10 per share in the year to December 31, 2011, versus a loss of $23.07 million, or 46 cents per share in 2010.
El Aguila is located 120 kilometres southeast of the state capital city of Oaxaca, Mexico and has yielded several strong metal samples, including 36.0 grams per tonne (g/t) gold, and 3,100 g/t silver.
Gold Resource is a low cost gold producer focused on pursuing development of gold and silver projects.
The company has a majority stake in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca.
Shares of the company rose 72 cents, or 3.03 percent, to reach $24.47 each in trade on the AMEX Exchange on Monday afternoon.

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