Thursday, 28 March 2013

Gold Resource Corp declares March dividend

Gold Resource Corp (NYSE MKT:GORO) has declared its monthly dividend of 6 cents per share for March, payable on April 25 to shareholders of record as of April 11.
Earlier this month, the company announced record mill production last year, and stood by its outlook for 2013, despite some challenges it experienced in 2012 with the first year of underground mining at its Arista deposit - part of its El Aguila mine in Mexico.
The U.S.-based gold and silver producer, with operations in the southern state of Oaxaca, Mexico, said it produced 90,432 ounces precious metal gold equivalent in 2012, and sold 72,399 ounces at a total cash cost of $419 per ounce. 
This compares with 60,690 ounces produced in 2011, and 58,514 ounces sold.
The company made record annual revenue of $131.8 million, compared to a $105.2 million in the prior year. 
Gross profit from its El Aguila mine was $87.8 million, up from 80.6 million in 2011. 
Net income for 2012 was $33.7 million, or 64 cents per share, versus $58.4 million, or $1.10 per share in the prior year. 
For 2013, the company is aiming to produce between 80,000 to 100,000 ounces gold equivalent, and is targeting to be in the lowest quartile of total cash costs, ranging from $300 to $500 per ounce. Gold Resource Corp is implementing cost cutting measures and production increases aimed at lowering costs.

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