Boston, MA 05/14/2014 (wallstreetpr) – Gold Resource Corporation (NYSEMKT:GORO) announced its quarterly earnings report on May 12, 2014. The company, after the declaration, stated that the outstanding performance will guide the company for a better expected production in the coming days.
Gold production
The economic statistics were released for the period that ended March 31, 2014. Within the tenure of three months from the last quarterly earnings, the result of Gold Resources was appreciable. The Mexico based gold and silver producer stated that it has excavated 23,734 ounces of the precious yellow metal, Gold.
Strong operating result: CEO said
During the first quarter of 2014, Gold Resource Corporation (NYSEMKT:GORO) delivered strong operating result with 15% increase in the production from the previous quarter. The report shared by the Chief Executive Officer and President of Gold Resource, Jason Reid also mentioned 38% decrease in total cash cost compared to the last quarter. Reid stated that the company holds much more potential to generate more profits through its excellent team and various schemes.
Production and sale
Gold Resource pictured a wonderful statistics of gold. In the 1Q2014, it produced 23,734 ounces of gold and could manage to sell 20,600 ounces of gold. The total cash cost on per ounce of gold is $422, which includes 5% of royalty. The total cost decreased 18% from the last year’s first quarter and 38% from the last year’s last quarter.
Other figures
The company also reported $17.4 million of cash flow from the operations in mining sites. However, it was pleasing for Gold Resource to report a net income of $17.1 million or $0.13 per share. The board of directors have decided to announce a total dividend of $1.6 million or $0.03 per share for the first quarter of 2014. The cash and cash equivalents also showed a significant rise from the prior quarter, which has been reported to be $4.5 million. Gold Resource Corporation (NYSEMKT:GORO) has also increased the milled capacity by 28% than 4Q2013. However, it needs mention that the gold and silver price decreased this quarter than a year ago.
