Gold Resource Corporation (NYSE American: GORO) is a gold and silver producer targeting projects that feature low operating costs and high returns on capital. The Company's primary focus is on cash flow, with a priority to return meaningful dividends back to the owners of the Company, its shareholders. The Company has two mining units located in mining friendly jurisdictions of North America. The "Oaxaca Mining Unit" consists of 100% interest in 6 potential high-grade gold and silver properties in the southern state of Oaxaca, Mexico. The "Nevada Mining Unit" consists of 100% interest in three, with an option to acquire 100% interest in a fourth, potential high-grade gold properties in the Walker Lane Mineral Belt in western Nevada, U.S.A.
GORO successfully declared commercial production from its Oaxaca Mining Unit July 1, 2010 from a shallow, high-grade open pit at its Aguila project, which enabled the Company to reach production and cash flow in the shortest amount of time with one of the tightest capital structures for a producer. In March of 2011, GORO announced production from its polymetallic Arista mine. The Arista deposit is comprised of the Arista and Switchback vein systems, both contain high-grade gold and silver as well as the base metals of copper, lead and zinc. The Company targets the extensions of this deposit and is exploring for additional deposits at its Oaxaca Mining Unit to add to its production profile.
GORO received a mine permit for the Mirador Mine in October 2016 located on the Alta Gracia property, and expects first production from this operation during 2017. The Mirador Mine will be the second operating mine within the Company's Oaxaca Mining Unit.
The Company's Nevada Mining Unit consists of four properties with the Isabella Pearl Project being the closest to reaching gold production. The project is in advanced stage engineering and permitting and the Company is working towards production at the earliest possible point in time. Gold Resource Corporation's Nevada Mining Unit now controls approximately 27,300 acres of development and exploration lands in south central Nevada's Walker Lane Mineral Belt.
The Company has distributed consecutive monthly dividends since commercial production totaling over $109 million as of January 2017. The Company's dividend target is to return as much back to shareholders as soon as possible, while balancing the needs of the operations and paying taxes. The Company has remained profitable for six consecutive years, four of which were during bear markets in the precious metal space.
Mexico and Nevada U.S.A. are among the leading venues for mineral potential each with an extensive history of mining. Gold Resource Corporation is positioning to add to its current production profile from its Mexican operations by rapidly advancing its Nevada Mining Unit's potential for open pit heap leach operations.