Tuesday, 26 February 2013

Gold Resource Corp declares February dividend as production on the rise

Gold Resource Corp (NYSE MKT: GORO) has declared its monthly dividend of six cents per share for February, payable on March 25 to shareholders of record as of March 11. 
The low-cost gold and silver producer, with operations in Oaxaca, Mexico, offers shareholders the option to convert their monthly cash dividends into physical gold or silver. 
Earlier this month, Gold Resource Corp saw its shares rise after it said it boosted its board of directors to six members, with the addition of Dr. Gary Huber. 
Dr. Huber brings more than 35 years of diversified natural resource experience to the board, having been the president and CEO of Neutron Energy, a private uranium development company, and a founder and CFO of Canyon Resources Corp. 
His experience in the mining business includes operations management, business development, merger and acquisitions, financings, strategic planning, and minerals marketing, whichGold Resource Corp says brings "additional depth" to its board. 
In January, the gold producer posted its preliminary production results for last year, achieving record full year output for 2012. 
For 2012, it produced 90,432 ounces of gold equivalent, up 37% from 2011. The latest figure included 23,783 ounces in the fourth quarter, up from 22,336 ounces in the third quarter.
Looking ahead, the company set its production range for 2013 between 80,000 and 100,000 ounces of gold equivalent, which at the high end would be an increase of around 11% over 2012 figures. 
Also in January, the company revealed high gold and silver grades at its Las Margaritas property in Mexico, saying the results confirmed mineralization at depth and bolstered the company's confidence in the mineralized trend. 
Gold Resource Corp added the property to its portfolio as it consolidated land along the structural corridor in this region. As with all six of its Oaxaca, Mexico properties, the company is targeting additional deposit discoveries at Las Margaritas where high-grade ore could be trucked to its strategically located mill at its El Aguila project.

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