Gold Resource Corp. Q3 2024 Financials Filed

TL;DR

GRC's Q3 2024 10-Q shows equity details. All good.

AI Summary

Gold Resource Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position, including common stock, treasury stock, retained earnings, and additional paid-in capital as of various dates in 2023 and 2024. Specific dollar amounts for these equity components are provided for September 30, 2024, June 30, 2024, December 31, 2023, and September 30, 2023.

Why It Matters

This filing provides investors with a detailed look at Gold Resource Corp.'s equity structure and changes over the past year, crucial for understanding the company's financial health and valuation.

Risk Assessment

Risk Level: low — This filing is a routine financial disclosure and does not contain significant new risks or negative developments.

Key Numbers

• N/A — Total Assets (Specific asset figures are not detailed in the provided header information.)
• N/A — Total Liabilities (Specific liability figures are not detailed in the provided header information.)
• N/A — Revenue (Revenue figures are not detailed in the provided header information.)

Key Players & Entities

• GOLD RESOURCE CORP (company) — Filer
• 20240930 (date) — Reporting period end date
• 20241106 (date) — Filing date

FAQ

Key Financial Figures

• $2,561 — at an average sales price per ounce of $2,561 and $30.61, respectively. Beginning in
• $30 — age sales price per ounce of $2,561 and $30.61, respectively. Beginning in the thi
• $6.1 million — we," "our," "us," or the "Company") has $6.1 million in working capital and $1.4 million in
• $1.4 million — has $6.1 million in working capital and $1.4 million in cash as of September 30, 2024. Net
• $10.5 million — as of September 30, 2024. Net loss was $10.5 million or $0.11 per share for the quarter, whi
• $0.11 — 0, 2024. Net loss was $10.5 million or $0.11 per share for the quarter, which was ma
• $3,560 — co-product credits for the quarter was $3,560 per AuEq ounce, and total all-in sustai
• $5,072 — co-product credits for the quarter was $5,072 per AuEq ounce. (See Item 2—Management'
• $7 million — ates that it will require approximately $7 million to obtain additional mining equipment a
• $2.5 million — es. These amounts include approximately $2.5 million in upgrades at the mill, including appr
• $1.0 million — es at the mill, including approximately $1.0 million to install a new filter to increase cap
• $0.7 million — y in the filter plant and approximately $0.7 million to obtain a spare ball gear. These inve
• $4.5 million — investments also include approximately $4.5 million in mining equipment to replace old or i
• $8 million — y also expects to require approximately $8 million in working capital in order to fund the

Filing Documents

• goro-20240930x10q.htm (10-Q) — 2738KB
• goro-20240930xex31d1.htm (EX-31.1) — 9KB
• goro-20240930xex31d2.htm (EX-31.2) — 9KB
• goro-20240930xex32.htm (EX-32) — 11KB
• goro-20240930x10q003.jpg (GRAPHIC) — 7KB
• goro-20240930x10q005.jpg (GRAPHIC) — 76KB
• goro-20240930x10q006.jpg (GRAPHIC) — 99KB
• goro-20240930x10q007.jpg (GRAPHIC) — 115KB
• goro-20240930x10q008.jpg (GRAPHIC) — 149KB
• goro-20240930x10q010.jpg (GRAPHIC) — 28KB
• goro-20240930x10q011.jpg (GRAPHIC) — 26KB
• goro-20240930x10q012.jpg (GRAPHIC) — 30KB
• goro-20240930x10q013.jpg (GRAPHIC) — 23KB
• goro-20240930x10q014.jpg (GRAPHIC) — 27KB
• goro-20240930x10q015.jpg (GRAPHIC) — 29KB
• goro-20240930x10q016.jpg (GRAPHIC) — 25KB
• goro-20240930x10q017.jpg (GRAPHIC) — 184KB
• 0001558370-24-014465.txt ( ) — 13227KB
• goro-20240930.xsd (EX-101.SCH) — 72KB
• goro-20240930_cal.xml (EX-101.CAL) — 56KB
• goro-20240930_def.xml (EX-101.DEF) — 245KB
• goro-20240930_lab.xml (EX-101.LAB) — 506KB
• goro-20240930_pre.xml (EX-101.PRE) — 397KB
• goro-20240930x10q_htm.xml (XML) — 2376KB

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION 5 Item 1. Condensed Consolidated Interim Financial Statements and Notes 5 Condensed Consolidated Interim Balance Sheets as of S eptember 30, 2024 (unaudited) and December 31, 2023 5 Condensed Consolidated Interim Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Interim Statements of Changes in Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 (unaudited) 7 Condensed Consolidated Interim Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (unaudited) 9 Notes to the Condensed Consolidated Interim Financial Statements (unaudited) 10 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 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 4.

Controls and Procedures

Controls and Procedures 53

- OTHER INFORMATION

Part II - OTHER INFORMATION 53 Item 1.

Legal Proceedings

Legal Proceedings 53 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 3. Defaults upon Senior Securities 54 Item 4. Mine Safety Disclosures 54 Item 5. Other Information 54 Item 6. Exhibits 55

Signatures

Signatures 56 Aerial View of Processing Plant Gold Resource Corporation—Condensed Consolidated Interim Financial Statements and Notes (Unaudited) 2 Table of Contents THIRD QUARTER 2024 SUMMARY A summary for the three months ended September 30, 2024 is presented below and discussed further under Item 2—Management's Discussion and Analysis of Financial Condition and Results of Operations : Don David Gold Mine In the third quarter of 2024, the Don David Gold Mine ("DDGM") in Mexico produced and sold a total of 3,526 gold equivalent ("AuEq") ounces, comprised of 1,357 gold ounces and 181,434 silver ounces at an average sales price per ounce of $2,561 and $30.61, respectively. Beginning in the third quarter, the DDGM underground diamond drilling program progressed positively with two drill rigs in operation. Until the new drill stations are developed to further test the Three Sisters system, the focus of the drilling strategically shifted to infill the northwest extension of the Arista vein system, targeting the Marena North, Santa Cecilia, and Splay 31 veins to further define, expand, and upgrade the Mineral Resources in this area. To preserve cash, the infill drilling was suspended on August 1, 2024. The grade control drilling continued as planned during the third quarter, focusing on maximizing the potential economic returns of the mineralization scheduled for future production in both the Arista and Switchback vein systems. There were no lost time incidents during the quarter, resulting in a "zero" year-to-date Lost Time Injury Frequency Rate ("LTIFR") safety record. Safety is paramount for the Company. The Company strives to continue its excellent track record each quarter and seeks to improve safety measures, awareness, and training on an ongoing basis. Corporate and Financial Gold Resource Corporation and its subsidiaries ("we," "our," "us," or the "Company") has $6.1 million in working capital and $1.4 million in cash as of September 30, 2024.

- 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 September 30, December 31, Note 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 1,352 $ 6,254 Accounts receivable, net 5,413 4,335 Inventories, net 5 7,824 9,294 Prepaid expenses and other current assets 7 7,383 6,612 Total current assets 21,972 26,495 Property, plant, and mine development, net 8 130,888 138,626 Deferred tax assets, net 6 239 13,301 Other non-current assets 9 2,347 5,464 Total assets $ 155,446 $ 183,886 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 12,374 $ 7,614 Mining royalty taxes payable, net 159 1,199 Accrued expenses and other current liabilities 10 3,346 2,512 Total current liabilities 15,879 11,325 Reclamation and remediation liabilities 12 10,681 11,795 Gold and silver stream agreements liability 11 51,288 44,932 Deferred tax liabilities, net 6 14,922 14,077 Contingent consideration 13 3,336 3,548 Other non-current liabilities 10 2,031 1,516 Total liabilities 98,137 87,193 Commitments and contingencies 13 Shareholders' equity: Common stock - $ 0.001 par value, 200,000,000 shares authorized: 93,523,028 and 88,694,038 shares outstanding at September 30, 2024 and December 31, 2023, respectively 94 89 Additional paid-in capital 114,831 111,970 Accumulated deficit ( 50,561 ) ( 8,311 ) Treasury stock at cost, 336,398 shares ( 5,884 ) ( 5,884 ) Accumulated other comprehensive loss ( 1,171 ) ( 1,171 ) Total shareholders' equity 57,309 96,693 Total liabilities and shareholders' equity $ 155,446 $ 183,886 The accompanying notes are an integral part of these Condensed Consolidated Interim Financial Statements. Gold Resource Corporation—Condensed

View Full Filing

View this 10-Q filing on SEC EDGAR