Monday, 29 July 2013

Gold Resource Corp reports fatality at La Arista mine

Gold Resource Corp (NYSE MKT: GORO) reported late Friday that an employee was fatally injured in a rock fall accident at its La Arista underground mine in Mexico. 
The company said at close to midnight Eastern time on Friday that underground operations were temporarily suspended until an investigation, conducted by Gold Resource Corp's management and the Mexican Ministry of Labor and Social Security, is completed over the next several days.    
“It is with great sadness that we report the death of a colleague at our Mexican operations,” said the company's president, Jason Reid, in a statement releasing news of the death. 
“Our thoughts and prayers go out to his family and friends and to everyone touched by this incident.  Safety procedures are being reviewed as employee health and safety is priority one for the company.”
Shares of Gold Resource Corp were down by two pennies Monday morning, at $8.18 in New York.
Earlier this month, the company reported its preliminary production results for the second quarter, maintaining its full year outlook. The U.S.-based gold producer with operations in Oaxaca, Mexico, reported production of about 20,500 ounces of precious metal gold equivalent for the three months to June 30. This compares with 14,488 ounces of gold equivalent in the same period last year.  It stood by its outlook for the full year, for output of between 80,000 to 100,000 ounces of gold equivalent. 
The planned expansion of the Aguila mill to a nominal 1,500 tonnes per day progressed well during the quarter, according to the company's statement, with the target to complete the project by year-end. 

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