Gold Resource (GORO) -2.8% AH after reporting lower than expected Q2 production of ~14,500 oz. precious metal gold equivalent at a 60:1 price ratio. GORO revises its 2012 outlook by ~15% to a targeted annual production range of 100K-120K oz. equivalent at a 53:1 price ratio. Development of the Arista mine will determine whether targets will be achieved in 2013-14.