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Gold Resource Corp Declares Monthly Dividend For July

Gold Resource Corp. (AMEX:GORO) declared its instituted monthly dividend of six cents per common share for July late Monday.

The payout of the monthly dividend will be on August 23, to shareholders of record as of August 10, 2012.

Gold Resource is the only company that offers its shareholders the option to convert their monthly cash dividend into physical gold and or silver.

The company released its final resource report yesterday from drilling data at its La Arista vein system, part of the El Aguila project in the southern state of Oaxaca, Mexico.

The El Aguila project is located 120 kilometres southeast of the capital city of Oaxaca, and is a newly discovered high-grade gold and silver system.

Indicated and inferred resources stood at 1.4 million gold equivalent ounces at a one gram per tonne gold cut-off, confirming the previously announced preliminary results in April.

The property consists of 23 contiguous mining concessions in the El Aguila to El Rey project area as well as two adjacent concessions in the Solaga project area covering 60,912-hectares.

A large exploration budget for 2012 has been allocated to continue drilling and investigate other targets where high grade precious metal concentrations have been found, stated Gold Resource.

For the quarter that ended March 31, the gold producer made around 30,500 ounces of precious metal gold equivalent from El Aguila, a growth of 308 percent from the first quarter of 2011.

Gold Resource also reported in early April that its first quarter output was in line with its 2012 outlook for annual production of between 120,000 to 140,000 ounces of gold equivalent.

Gold Resource is a mining company focused on the low-cost production and development of gold and silver projects in Oaxaca, Mexico.

Company shares were up almost 2 per cent at $17.39 Tuesday Morning.