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Gold Resource leaves full-year production guidance unchanged

Monday, October 17, 2016 6:37
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The third quarter saw Gold Resource Corporation (NYSEMKT:GORO) close in on its full-year target of producing 26,000 ounces of gold.

The precious metals miner said it produced around 6,066 ounces of gold in the third quarter, and 431,335 ounces of silver.

In the first nine months of the year the company’s Aguila project in Mexico churned out 22,540 ounces of gold and 1.44mln ounces of silver; the company is targeting production of 1.9mln ounces over the full year.

Meanwhile, in the third quarter the mine also produced 213 tonnes of copper; 1,000 tonnes of lead; and 3,232 tonnes of gold.

Production of those base metals (with full-year targets in brackets) in the first nine months of the year were: 777 tonnes of copper (full year target: 1,000 tonnes); 2,847 tonnes of lead (3,200 tonnes); and 10,306 tonnes of zinc (12,900 tonnes).

The dividend-paying miner said it had left its full-year guidance levels unchanged after the preliminary third quarter figures.

Last week the company hinted it was close to making a decision on whether to go into production at its Gold Mesa asset after strong drilling results.

The gold and silver producer said multiple drill holes encountered surface and near surface high-grade gold mineralization.


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