breakout of this nice base...i like charts like that
a weekly look of the chart :o
now it seems time to go higher ;D ;D ;D
nice updated presentation:
http://www.goldseek.com/goldcasts/GORO/
chart:
Goro update:
Webcast:
http://www.wsw.com/webcast/wsaf6/goro.ob/
&
Transcript:
http://seekingalpha.com/article/70078-gold-resource-corporation-wall-street-analyst-forum-transcript?source=yahoo
Chart:
link:
http://www.goldresourcecorp.com./presentation/company/player.html
chart >:D >:D ::)
Gold Resource Corporation -- Update Letter to Shareholders
Monday , September 14, 2009 14:56ET
http://media.marketwire.com/attachments/200802/405426_GORO.jpg
DENVER, CO -- (Marketwire) -- 09/14/09 -- Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) updates shareholders on its 3rd anniversary as a public company. GRC targets production at its El Aguila Project, in the southern state of Oaxaca, Mexico, in 2009.
September 14th marks the 3rd anniversary of Gold Resource Corporation as a public company and a look back at its accomplishments is in order. Our IPO was completed at $1.00 per share so we are pleased to see the stock trading currently around $7.00 per share. We believe this creation of shareholder value is just the beginning and reflects our specific approach to the mining business and Gold Resource Corporation's focus on executing its business plan.
We have not wavered from our core values underlying our strategy to maximize shareholder value:
-- Decisions based on financial performance
-- Projects must have a capital payback of 1 year or less
-- Production at the earliest possible date
-- Build the company with cash flow
-- Limit shareholder dilution
-- Distribute a meaningful dividend if possible
We are pleased with the team of professionals we have and are assembling. Their competence, excitement and commitment to the project are reflected in the Company's performance and in its accomplishments.
We are in the final stages of completing the mill and are stockpiling ore from the open pit mine almost daily. The capital costs for the El Aguila Project and the time frame to production are certainly at the low end of the spectrum for the mining business yet we believe that the Company's return on that investment will be at the upper most realms for mining companies. In addition, our growth curve from a targeted 70,000 ounces of gold in the first 12 months building to around 200,000 ounces of precious metal gold equivalent in the third year is significant especially when coupled with the very low costs anticipated for this production.
Our El Aguila Project mill has been designed to be very flexible and have the ability to handle differing types of mineralization. Essentially two mills in one, it can handle oxide ore and produce dore bars for sale and/or handle sulfide ore with the ability to produce three different concentrates for sale. With a capital cost of approximately $30 million for this 400,000 tonne per year mill including main infrastructure such as roads, water and Phase 1 tailings dam, we anticipate capital payback in the first year of operation.
We have compiled a land position in the southern state of Oaxaca, Mexico of over 117 square miles centered on 5 high-grade properties, one of which is our El Aguila Project where we are building the mill. An important part of our approach to this mining business is the ability to have high-grade ore from any one of these properties trucked to the El Aguila mill. This has the potential of increasing the longevity of our Oaxaca operations with minimal additional capital.
The geologic model developing around the deposits discovered at our El Aguila Project is truly exciting. First, we have consistent high-grade ore that is of world class tenor. Secondly, the geologic setting and geologic history that is unfolding of nested calderas, serial doming and vent breccias certainly has the possibility of a world class geologic system. Coupling this with the fact that this system is young for Mexico's deposits, 10-15 million years old as opposed to 20-30 million years, the erosion of our ore forming system has been limited. Because of that lack of erosion we believe the bulk of our mineralizing system's treasures are still hidden. Our high-grade Arista vein system is called a "blind discovery" as it did not start until about 100 meters below the surface. Consequently, we are fortunate that it appears we have the complete mineralized system encompassing the tops of these intermediate epithermal deposits. Equally as important, we have yet to find the bottoms of these deposits. Potential exists from epithermal models that these deposits could have a mineralized horizon over 1000 meters. At Arista, the epithermal veins have a current mineralized horizon of approximately 500 meters so it is possible they could in fact double with additional depth of drilling. Lateral extensions of the vein mineralization continue as well. These are a very significant set of circumstances that bodes well for our exploration and ultimate operation.
Because one of our key precepts is to achieve cash flow at the earliest possible point, we see that cash flow can more quickly be achieved by utilizing our flotation circuit on the Aguila open pit gold ore first followed by transition to using the agitated leach circuit upon that circuit's completion. It is a testament to the excellent metallurgical quality of our open pit gold ore that we can achieve +90% recovery through either flotation producing a concentrate or through agitated leach producing a dore bar. The flotation section will be operable before the agitated leach section due to its simpler flowsheet and construction. Therefore we will begin making concentrates and selling them to a smelter until the agitated leach section is ready for the switch. Targeted costs to produce an ounce of gold using agitated leach are approximately $100 per ounce (with silver revenues used as byproduct credits). While initially producing and selling concentrates we have the added smelter costs which will add to that cost target until we switch over to the agitated leach. Even though it will cost a little more starting with flotation, we believe achieving cash flow at the earliest possible point makes good economic and business sense.
Management is committed to building Gold Resource Corporation into a mid-tier gold producer that has above average financial performance and with a bias to distribute a portion of cash flow back to the owners, possibly as much as 1/3 cash flow. We believe the management that created this company is also the management that can bring maximum value to shareholders. Only managements that can't bring a superior value to their shareholders are at risk of being taken over and probably for good reason. We are in this for the long haul with the view that generating cash flow from one mine is the catalyst to build the next.
We are pleased to be joined in our endeavors in a strategic alliance by Hochschild Mining, a leading precious metals company listed on the London Stock Exchange with a primary focus on the exploration, mining, processing and sale of silver and gold. Our strategic partner has over forty years experience in the mining of precious metal epithermal vein deposits and currently operate five underground mines in the Americas. Hochschild have been instrumental in our equity funding as a shareholder. We have appreciated their help and advice and look forward to a continuing good relationship.
We believe we have an exceptional property position that can provide years of production and growth; we believe we have an exceptional high-grade geologic system that is only beginning to share with us what treasures it holds; and we believe we have a strategy well suited to maximize shareholder value.
At a time when world financial systems are uncertain, gold and gold mining stocks provide a prudent alternative to this financial uncertainty. At a time when the gold cycle may be on one of its historical upward trends, Gold Resource Corporation has a small group of very competent, very motivated people whose vision is to create a new mid-tier gold producer focused on cash flow and dividends. This is the time, we believe, to be a shareholder of Gold Resource Corporation.
We appreciate your confidence and support. Thank you.
William W. Reid
President
nice:
Gold Resource Corporation Updates Mineralized Material Estimate for El Aguila Project
Tuesday , December 01, 2009 13:16ET
http://media.marketwire.com/attachments/200802/405426_GORO.jpg
DENVER, CO -- (Marketwire) -- 12/01/09 -- Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) is pleased to announce results from an internal analysis of step-out drilling at its Arista deposit. The Arista deposit's vein system is part of GRC's 100% owned El Aguila Project in Oaxaca, Mexico. Estimates of in-place mineralized material at the Arista deposit, based on the Company's modeling of the Arista and Baja veins, equals 2,962,000 tonnes grading 6.50 g/t gold (Au), 506 g/t silver (Ag), 0.60% copper (Cu), 2.24% Lead (Pb), 6.75% zinc (Zn) over a nominal 3.6 meters true width. Total metal values yield a 23.02 g/t gold equivalent (AuEq*) (0.74 oz/t AuEq*) using the metal prices given in the Mineralized Material Estimate table below. This AuEq* per tonne value multiplied by the estimated 2,962,000 tonnes equates to an estimated 2,192,000 AuEq* ounces. This Mineralized Material Estimate does not meet the United States SEC definitions of Proven and Probable Reserves. GRC targets production at its El Aguila Project in 2009.
El Aguila Project's Arista Vein System
Internal Mineralized Material Estimate
Updated: Dec. 1, 2009
Specific Gravity: 2.6
Mineralized Envelope Limit Projected: 50 meters
Mineralized True
Material Width Gold Au Silver Ag Copper Cu Lead Zinc
Meter g/t g/t % Pb % Zn % Tonnes
----- --------- ----------- ---------- ------ ------ ---------
La Arista
Vein System 3.64 6.50 506 0.60 2.24 6.75 2,962,000
----- --------- ----------- ---------- ------ ------ ---------
Metal Values
Used in $ 1.00 $ 0.95
AuEq* $ 950 /oz $ 17.00 /oz $ 2.70 /lb /lb /lb
----- --------- ----------- ---------- ------ ------ ---------
Internal Estimate: Not SEC Proven & Probable Reserves; see Risk Factors
in Company's 10K
http://media.marketwire.com/attachments/200912/TN-591502_GOROpic2.jpg
(Click here for details)
The Arista deposit's estimated 2,192,000 AuEq* ounces is an internal estimate of in-place metal values using a simple polygonal method of calculation, uncut assay values and with a 0.30 oz/t AuEq* cutoff grade* (see Longitudinal Sections of Baja and Arista veins below). The Arista vein system remains open laterally as well as with depth. The Aguila Project's open pit deposit, from which the first 12 months of production is targeted, and the El Aire vein system deposit add an additional 200,000 gold equivalent ounces, resulting in a total internal estimate for the Aguila Project of approximately 2,392,000 AuEq* ounces.
Gold Resource Corporation's president William W. Reid stated, "We made our production decision in 2007 with just a mineralized material estimate of 300,000 AuEq ounces. We could do that because we followed our financial performance criteria of being able to pay back the project capital in one year or less. By October of 2008 we announced our mineralized material estimate of 1.6 million AuEq ounces (metal prices used at that time were different from those used in the present calculation). This allowed for an expanded production profile with mine life of 4.7 years. We are pleased that drilling over the past year, with only one drill, has allowed that estimate to now increase to approximately 2.4 million AuEq* ounces and an estimated 9 year mine life. Based on our increased understanding of this exciting, high-grade geologic system, which we believe we have only just begun to test with drilling, we have no hesitation increasing our near term mineralized material target to 3.5 million gold equivalent ounces."
Mr. Reid continued, "Our first year production target of 70,000 ounces of gold comes from the El Aguila open pit's gold and silver deposit which contains no base metals. Our second year through year nine production targets come from our Arista deposit's polymetallic veins with a breakdown of values of approximately 68% precious metals (gold and silver) and 32% base metals (copper, lead and zinc). We are fortunate that these base metal revenues, when used as byproduct credits, are anticipated to pay for the project's total cash operating costs so we are targeting our gold and silver cash costs to be 'zero' from the second year of operations. Production targets are 110,000 oz/AuEq** in the second year with a target of 180,000 to 200,000 oz/AuEq** in the third through ninth year."
The estimated mineralized material number is an in-place number without regard to recoveries, mining dilution or mining economics. These internal estimates are dependent on many assumptions that may differ from actuality when mined. This mineralized material estimate is not equivalent to U.S. SEC Proven and Probable Reserves and should not be considered as such. The geologic interpretation and modeling by the Company has suggested two veins but may actually be several en echelon veins or could be interpreted differently by different modelers.
AuEq* is a gold equivalent for aggregate in situ value of all metals. Gold Resource, like many in the industry, subscribe to the use of gold equivalent (AuEq*) as a means to present the aggregate value of polymetallic (gold, silver, copper, lead, zinc) mineralization in the ground. Gold equivalent valuation quantifies the precious metal ounces and base metal percentages of the mineralization into one gold equivalent (AuEq*) value. This calculation converts the metals quantity into its dollar value and converts that dollar value back into an equivalent gold value. Gold equivalent is a valuation calculation that places the emphasis on the total dollar value per tonne of the mineralization. The company believes this AuEq* calculation best conveys the aggregate, in-place estimate of the deposit's hypothetical value. The following mineral values were used in this gold equivalent conversion: gold at $950/ounce, silver at $17/ounce, copper at $2.70/pound, lead at $1.00/pound, and zinc at $0.95/pound. Different metal prices will result in different gold equivalent values.
AuEq** is a gold equivalent for production targets. AuEq** gold equivalent production targets are calculated using only precious metals (gold and silver) as the AuEq**gold equivalent.
nice:
close to new 52 weeks high and major BO >:D ;)
now @ AMEX !! ;)
attached latest research file >:D >:D
cheers
OLIVER
:D
nice chart update
(setravis, as AMEX is now AMEX traded, wil you change the Board?)
cheers
Oliver
Quote from: la-onda on October 09, 2010, 09:05:00 AM
:D
nice chart update
(setravis, as AMEX is now AMEX traded, will you change the Board?)
cheers
Oliver
la-onda,
Glad to see you on the boards!!! Consider it done!
Thanks for the update...Gives me something to look at, and maybe opening a position...
Good trading to you, Have a great weekend!
chart update >:D
updated IR presentation:
http://www.goldresourcecorp.com/presentation/company/player.html
awesome! >:D >:D >:D
new presentation!
http://www.goldresourcecorp.com/presentation/company/player.html
;)
>:D close to new 52 weeks high >:D
Gold broke 1447.30 resistance on April 5th., but GORO needs another 53 cents to BO
with nice uptrend.
Let´s wait and see how Gold opens in Far East considering US Budget approval .
Anyway GORO is showing high CCI, RSI 52.5 is OK - fast STO also high and on friday broke upper BB
GLTA
;)
reason for latest chart action & rebound:
Gold Resource Corporation's CFO Steps Down
Tuesday , April 12, 2011 06:22ET
DENVER, April 12, 2011 /PRNewswire/ -- Gold Resource Corporation (GORO) (NYSE Amex: GORO) today announced the acceptance of its CFO's resignation who has taken a full-time position with another company. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.
Gold Resource Corporation's management would like to personally thank Mr. Monty Jennings for his years of excellent service as the Company's contract CFO and wishes Mr. Jennings well in his new full-time position with another company.
Mr. Jennings stated, "It has been my pleasure working with the Company. I wish the Company continued success."
Gold Resource Corporation's CEO will be the interim CFO until a replacement CFO is found.