Gold Resource Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Gold Resource Corp has filed its Q1 2024 10-Q report, detailing financial positions and asset information as of March 31, 2024.</b>

AI Summary

GOLD RESOURCE CORP (GORO) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Gold Resource Corp filed a 10-Q report for the period ending March 31, 2024. The filing includes financial data for the first quarter of 2024. Key financial statement components like Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income are reported as of March 31, 2024. The company's fiscal year ends on December 31st. The filing references various asset categories including Mineral Interests and Mineral Rights, Mill Facilities and Infrastructure, and Construction in Progress as of March 31, 2024.

Why It Matters

For investors and stakeholders tracking GOLD RESOURCE CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial snapshot of Gold Resource Corp, crucial for understanding the company's performance and financial health. The detailed asset information, including mineral interests and infrastructure, offers insight into the company's operational base and potential future resource development.

Risk Assessment

Risk Level: low — GOLD RESOURCE CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Monitor future filings for revenue trends, net income changes, and updates on asset development projects mentioned in this report.

Key Numbers

• 2024-03-31 — Period of Report (10-Q Filing)
• 2024-05-02 — Filed As Of Date (10-Q Filing)
• 1231 — Fiscal Year End (Company Data)
• 841473173 — IRS Number (Company Data)

Key Players & Entities

• GOLD RESOURCE CORP (company) — Filer
• 0001160791 (company) — Central Index Key
• CO (company) — State of Incorporation
• 2024-03-31 (date) — Period of Report
• 2024-05-02 (date) — Filed as of Date
• 10-Q (document) — Form Type
• 001-34857 (document) — SEC File Number
• OSISKO BERMUDA LIMITED (company) — Gold And Silver Streaming Agreement

FAQ

Risk Factors

• Financial Statement Information [medium — financial]: The 10-Q report contains detailed financial statements, including balance sheets, income statements, and cash flow statements, as of and for the periods presented.
• Mineral Interests and Mineral Rights [medium — operational]: The company reports significant mineral interests and mineral rights, which are subject to exploration, development, and production risks inherent in the mining industry.
• Mill Facilities and Infrastructure [medium — operational]: The company's operations rely on mill facilities and infrastructure, which are subject to operational risks, maintenance requirements, and potential disruptions.

Key Dates

• 2024-03-31: Quarterly Period End — Financial data reported in the 10-Q is as of this date.
• 2024-05-02: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a continuing disclosure by public companies. (This filing provides the most recent quarterly financial and operational update for Gold Resource Corp.)

Key Financial Figures

• $5.7 million — rporate and Financial The Company has $5.7 million in cash as of March 31, 2024, and zero
• $4.0 million — 31, 2024, and zero debt. Net loss was $4.0 million or $0.05 per share for the quarter, whi
• $0.05 — ero debt. Net loss was $4.0 million or $0.05 per share for the quarter, which was af
• $0.9 million — share for the quarter, which was after $0.9 million in expenses for the Don David Gold Mine
• $13.6 million — erground drilling. Working capital was $13.6 million as of March 31, 2024. Total cash cost
• $1,667 — co-product credits for the quarter was $1,667 per gold equivalent ("AuEq") ounce and
• $2,295 — co-product credits for the quarter was $2,295 per AuEq ounce. (See Item 2—Management'
• $2,094 — at an average sales price per ounce of $2,094 and $23.29, respectively. The undergro
• $23 — age sales price per ounce of $2,094 and $23.29, respectively. The underground diam

Filing Documents

• goro-20240331x10q.htm (10-Q) — 1828KB
• goro-20240331xex31d1.htm (EX-31.1) — 9KB
• goro-20240331xex31d2.htm (EX-31.2) — 9KB
• goro-20240331xex32.htm (EX-32) — 11KB
• goro-20240331x10q003.jpg (GRAPHIC) — 7KB
• goro-20240331x10q005.jpg (GRAPHIC) — 54KB
• goro-20240331x10q007.jpg (GRAPHIC) — 38KB
• goro-20240331x10q008.jpg (GRAPHIC) — 105KB
• goro-20240331x10q009.jpg (GRAPHIC) — 161KB
• goro-20240331x10q011.jpg (GRAPHIC) — 38KB
• goro-20240331x10q012.jpg (GRAPHIC) — 42KB
• goro-20240331x10q013.jpg (GRAPHIC) — 43KB
• goro-20240331x10q014.jpg (GRAPHIC) — 38KB
• goro-20240331x10q015.jpg (GRAPHIC) — 43KB
• goro-20240331x10q016.jpg (GRAPHIC) — 30KB
• goro-20240331x10q017.jpg (GRAPHIC) — 126KB
• 0001558370-24-006560.txt (&nbsp;) — 10102KB
• goro-20240331.xsd (EX-101.SCH) — 68KB
• goro-20240331_cal.xml (EX-101.CAL) — 52KB
• goro-20240331_def.xml (EX-101.DEF) — 230KB
• goro-20240331_lab.xml (EX-101.LAB) — 484KB
• goro-20240331_pre.xml (EX-101.PRE) — 360KB
• goro-20240331x10q_htm.xml (XML) — 1504KB

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION 4 Item 1. Condensed Consolidated Interim Financial Statements and Notes 4 Condensed Consolidated Interim Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Interim Statements of Operations for the three months ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Interim Statements of Changes in Shareholders' Equity for the three months ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Interim Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 7 Notes to the Condensed Consolidated Interim Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 44

- OTHER INFORMATION

Part II - OTHER INFORMATION 44 Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 45

Signatures

Signatures 46 Processing Plant at Night Gold Resource Corporation—Condensed Consolidated Interim Financial Statements and Notes (Unaudited) 2 Table of Contents FIRST QUARTER 2024 HIGHLIGHTS Highlights for the three months ended March 31, 2024 are summarized below and discussed further under Item 2—Management's Discussion and Analysis of Financial Condition and Results of Operations : Corporate and Financial The Company has $5.7 million in cash as of March 31, 2024, and zero debt. Net loss was $4.0 million or $0.05 per share for the quarter, which was after $0.9 million in expenses for the Don David Gold Mine ("DDGM") exploration development and underground drilling. Working capital was $13.6 million as of March 31, 2024. Total cash cost after co-product credits for the quarter was $1,667 per gold equivalent ("AuEq") ounce and total all-in sustaining cost ("AISC") after co-product credits for the quarter was $2,295 per AuEq ounce. (See Item 2—Management's Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Measures for a reconciliation of non-GAAP measures to applicable GAAP measures). Don David Gold Mine In the first quarter of 2024, DDGM produced and sold a total of 5,965 gold equivalent ounces, comprised of 3,557 gold ounces and 216,535 silver ounces at an average sales price per ounce of $2,094 and $23.29, respectively. The underground diamond drilling program progressed as planned and on schedule during the first quarter, using two drill rigs with continued positive results. During the first quarter, infill drilling focused mainly on upgrading inferred resources to the measured and indicated resource categories with a specific focus on the recently discovered Three Sisters and Gloria vein systems. Infill drilling during the first quarter was successful in identifying and defining high-grade ore shoots specifically in the Sandy 1 and Sandy 2 veins of the Three Sisters system. Grade control drilling continued on

- FINANCIAL INFORMATIO N

PART I - FINANCIAL INFORMATIO N

Financial Statement s

ITEM 1. Financial Statement s GOLD RESOURCE CORPORATION CONDENSED CONSOLIDATED INTERIM BALANCE SHEET S (U.S. dollars in thousands, except share and per share amounts) (Unaudited) As of As of March 31, December 31, Note 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 5,662 $ 6,254 Accounts receivable, net 4,161 4,335 Inventories, net 4 9,849 9,294 Prepaid expenses and other current assets 6 6,033 6,612 Total current assets 25,705 26,495 Property, plant, and mine development, net 7 135,775 138,626 Deferred tax assets, net 5 15,569 13,301 Other non-current assets 8 5,669 5,464 Total assets $ 182,718 $ 183,886 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 9,082 $ 8,378 Mining royalty taxes payable, net 1,462 1,199 Accrued expenses and other current liabilities 9 1,555 1,748 Total current liabilities 12,099 11,325 Reclamation and remediation liabilities 11 12,128 11,795 Gold and silver stream agreements liability 10 46,341 44,932 Deferred tax liabilities, net 5 13,926 14,077 Contingent consideration 12 3,598 3,548 Other non-current liabilities 9 1,851 1,516 Total liabilities 89,943 87,193 Commitments and contingencies 12 Shareholders' equity: Common stock - $ 0.001 par value, 200,000,000 shares authorized: 88,790,474 and 88,694,038 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 89 89 Additional paid-in capital 112,073 111,970 Accumulated deficit ( 12,332 ) ( 8,311 ) Treasury stock at cost, 336,398 shares ( 5,884 ) ( 5,884 ) Accumulated other comprehensive loss ( 1,171 ) ( 1,171 ) Total shareholders' equity 92,775 96,693 Total liabilities and shareholders' equity $ 182,718 $ 183,886 The accompanying notes are an integral part of these Condensed Consolidated Interim Financial Statements. Gold Resource Corporation—Cond

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