COLORADO SPRINGS, July 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) reports preliminary production results for the second quarter ended June 30, 2019 of 9,559 ounces of gold, 467,484 ounces of silver and significant base metals. The Company currently maintains its 2019 Oaxaca Mining Unit production outlook and plans to increase its global production outlook once commercial production levels are reached at its Nevada Mining Unit’s Isabella Pearl gold project. The Isabella Pearl project reported the commencement of first gold production during the second quarter. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $112 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Preliminary second quarter production from the Company’s Oaxaca Mining Unit totaled 7,881 ounces of gold, 466,512 ounces of silver, 482 tonnes of copper, 2,304 tonnes of lead and 6,054 tonnes of zinc. Through the first half of 2019, the Company’s Oaxaca Mining Unit’s preliminary production numbers total 14,419 ounces of gold, 831,165 ounces of silver, 915 tonnes of copper, 4,457 tonnes of lead and 11,892 tonnes of zinc.
Preliminary second quarter production from the Company’s Nevada Mining Unit totaled 1,678 ounces of gold and 972 ounces of silver. The Company announced on April 29, 2019 that its Isabella Pearl mine had produced its first dore, and since then the project has produced gold on a consistent basis. The Company continues to ramp up production at Isabella Pearl and expects the project to reach commercial production levels during the second half of 2019.
The Company maintains its 2019 Oaxaca Mining Unit Annual Production Outlook of 27,000 gold ounces and 1,700,000 silver ounces, plus or minus 10%. In addition, the Company’s Nevada Mining Unit 2019 annual production outlook is expected to be announced in the near future once the project has reached commercial production levels. Full financial results for the second quarter will be available at the time the Company files its quarterly report on Form 10-Q with the Securities and Exchange Commission.
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $112 million back to its shareholders since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company’s 10-K filed with the SEC.