Gold Resources (GORO +1.3%) reports record annual production of 90K-plus in gold equivalent oz....

Gold Resources (GORO +1.3%) reports record annual production of 90K-plus in gold equivalent oz. for 2012. Sold 72.4K oz. gold equivalent at a total cash cost of $419/oz. Confirms 2013 production outlook of 80K-100K gold equivalent oz., and is targeting to finish in the lowest quartile of total cash cost at $300-$500/oz.

From other sites
Comments (5)
  • Chucklesg
    , contributor
    Comments (100) | Send Message
    Anyone know why this stock is so volatile? I thought it might be a good growth with income opportunity, but the daily price fluctuation make me wonder about the trading.
    18 Mar 2013, 03:52 PM Reply Like
  • mikeyaffe
    , contributor
    Comments (55) | Send Message
    Back in July of 2011 Barrons wrote a very negative article on GORO. The short interest exploded to 5 million shares. There are still close to that number of shares short now. The stock only trades 200,000 shares on a good day. There is no way to cover.


    The shorts have hired some paid bashers. You will notice that they almost instantly refute any positive posts on the company.


    The shorts are also behind the class action suit. There has been no word on that for awhile. The lawyers posted a bunch of times looking for a lead plaintiff.


    GORO has hired some more professional mine operators and marketing people. This should stabilize the share price.


    Gold is going much higher and so will the shares. While I wait, I am happy to collect my 5+% dividend paid monthly.
    18 Mar 2013, 04:12 PM Reply Like
  • David White
    , contributor
    Comments (5027) | Send Message
    I wrote an article on it that explains why people developed a negative view of the company. Basically it had just about everything bad happen to it in one year that a company can experience. However, the company overall looks like a good company to invest in long term. Here is a link to my article.



    It's worth a read if you are thinking of investing in the GORO stock.
    19 Mar 2013, 05:39 AM Reply Like
  • Chucklesg
    , contributor
    Comments (100) | Send Message
    Thanks David for pointing me to your article. Unfortunately the price continues to deteriorate and while I dislike the concept of negativity expressed by shorts, the comments about the Reid family being less than honest is hard to prove or disprove. Given the performance of another Reid (Harry), I do wonder!


    Anyway, GORO has approached my exit benchmark of 5% loss, and I will give it a little more time as my total investment not that great. But I also noted your positive article on AAR, another of my losses that I did not honor with the 5% rule. To old to start over, but to tired of bad advice and bad own. Got to find a mattress that pays about 5-6% with less risk, less opinions of the "street" which is so corrupt, less dependency on the useless US gov't, but there is no where to go!
    Thanks for your thought though!
    20 Mar 2013, 02:54 PM Reply Like
  • mikeyaffe
    , contributor
    Comments (55) | Send Message
    Final shakeout at the open appears to be over.


    In Gold We Trust.
    19 Mar 2013, 10:34 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs