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  • Gold Resource Corp Declares January Dividend 0 comments
    Feb 4, 2013 12:57 PM

    Gold Resource Corp (NYSE MKT: GORO) has declared its January dividend of 6 cents per share.

    The payout is payable on February 25, to shareholders of record as of February 11.

    Earlier this month, the gold producer posted its preliminary production results for last year, achieving record full year output for 2012 that rose 37% over the prior year.

    For 2012, the low-cost gold and silver producer with operations in Oaxaca, Mexico, 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.

    The company said it believes it may be the first to ever drill the prospective high grade Las Margaritas property, which historically was mined on a small scale prior to the 1910 Mexican Revolution, and has mostly remained dormant since.

    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.

    Its strategy is to bring multiple properties within trucking distance online to feed ore to the mill, keeping capital costs to a minimum and maximizing head grades processed through the mill. The company said the Las Margaritas gold and silver mineralization could be processed through El Aguila's agitated leach circuit, which would add to its current production from the flotation circuit.

    The company, which has returned over $69 million to shareholders in monthly dividends since declaring commercial production in July 2010, said full financial results for the fourth quarter and fiscal year 2012 will be available in its annual report.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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