• Gold: 1,247.16 -0.74
  • Silver: 17.52 -0.01
  • Euro: 1.080 0.000
  • USDX: 99.677 -0.136
  • Oil: 48.15 0

Silver and Gold Dividends to be Paid by Gold Resource Corp. (NYSE-AMEX: GORO)

Gold Resource Corporation
|
Tuesday, March 13th

COLORADO SPRINGS, CO--(03/12/12)- Gold Resource Corporation (the Company) (AMEX: GORO) is pleased to announce the scheduled launch of its innovative gold and silver dividend program. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has paid 20 consecutive monthly dividends since declaring commercial production totaling over $41 million returned to shareholders.

Gold Resource Corporation is scheduled to launch its gold and silver dividend program April 10th, 2012. The default company dividend will continue to be in cash, but this unique option will give shareholders the ability to convert their cash dividends into physical gold and/or silver. Shareholders may establish an "individual bullion account," whereby cash dividends are converted into Gold Resource Corporation "Double Eagle" one ounce .999 fine gold and/or one ounce .999 fine silver rounds (see image). Gold Bullion International (GBI), a leading institutional precious metals provider to individual investors and the wealth management industry, is facilitating the Company's cash dividend to physical conversion. The Company will direct GBI to draw gold and silver Gold Resource Corporation Double Eagles from the Company's minted physical treasury and distribute precious metals as directed by Company shareholders.

"A convenient and simple way of delivering precious metal dividends to shareholders has been a long-term goal of the Company," stated Jason Reid, President of Gold Resource Corporation. "With innovative assistance from Gold Bullion International, management of Gold Resource Corporation is pleased and excited to announce the launch of the Company's gold and silver dividend program, a dividend program unlike any other known program offered of its kind."

The program powered by Gold Bullion International's operational and technology platform will allow shareholders to fully manage their cash dividend conversions into gold, silver, or a desired percentage of each metal. After conversion into a physical metal dividend, shareholders may elect to store their physical within GBI's fully insured and audited storage facilities (for a nominal fee), take direct delivery of their precious metals, or direct the shipping of the metals to a vault of their choice.

For shareholders with monthly dividends totaling less than one ounce of silver or gold, the program will allow the shareholder's cash dividends to accrue until such time their account balance allows for conversion into one ounce denominations of silver and/or gold based on the investor's set allocation. For larger shareholders the accounts will allow percentage allocation between gold and silver or a focus on either.

The conversion date and price will be set at the London PM Fix on the Company's Record Date of dividend distribution (Record Dates are noted in each press release regarding dividend distribution). The shareholder must direct their individual bullion account for desired gold and silver allocation by midnight EST the day before the Record Date. Once the cash to physical conversion takes place, shareholder directed bullion accounts distribute the gold and silver on the dividend Pay Date (Pay Dates are noted in each press release regarding dividend distribution).

Shareholders interested in participating will be required to hold their shares directly with the Company's transfer agent, Computershare. This may entail moving shares from a brokerage account to Computershare by the Direct Registration System (DRS). After a DRS transfer is made and the shareholder's stock is registered with Computershare, they will be eligible to open an on-line Gold Resource Corporation "individual bullion" account with GBI. These steps will allow shareholder and position size verification. This verification will be required to participate in the Company's gold and silver dividend program. Shareholders will manage their own on-line "individual bullion" account and may opt-out at any time. Those choosing not to participate will continue to receive cash dividends as usual.

The gold and silver dividend program is not targeted as a revenue stream for the Company. Only the basic costs associated with owning physical metals which include minting, storage, shipping and handling are targeted to be passed to the shareholder. By offering cash to precious metal conversion at the London PM Fix, without adding a premium above the Company's own minting cost, the Company strives to offer its shareholders a competitive and attractive option for direct physical gold and silver ownership.

Mr. Reid stated, "Gold Resource Corporation provides premier precious metal exposure with an aggressive production growth profile of low cost ounces, growing cash and physical precious metal treasury, high-grade exploration prospects, distribution of a monthly dividend and in April 2012 another major milestone for the Company is being set as we prepare to launch the option for shareholders to receive gold and silver dividends."

Mr. Reid continued, "Gold Bullion International and Gold Resource Corporation are on the verge of a groundbreaking and monumental shift in how mining Companies may distribute dividends to their shareholders in gold and silver."

For additional details on Gold Resource Corporation's gold and silver dividend program, please visit the Program specific page on the Company's website at http://www.goldresourcecorp.com/gold-silver-dividends.php.

About GRC:
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 52,902,620 shares outstanding, no warrants and no debt. For more information please visit GRC's website located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

About Gold Bullion International:
Gold Bullion International (GBI) is a leading institutional precious metal provider to Individual Investors and the wealth management industry. GBI's technology platform allows clients to acquire and manage their precious metals assets directly through GBI or through their existing wealth management account relationships. GBI facilitates the physical precious metal platform for some of the largest Broker Dealers in addition to serving the overall wealth management industry. Precious metals manufactured by refiners recognized by the LBMA (London Bullion Market Association) for their production of good delivery bars are acquired from approved dealers and stored on behalf of clients in protected and insured vaults in New York, Salt Lake City, London and Zurich. GBI is the safest and most reliable option for precious metal owners. For more information please visit GBI's website at www.Goldbullioninternational.com

Cautionary Statements:

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan," "target," "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's 10-K filed with the Securities and Exchange Commission.

Contact:

Corporate Development
Greg Patterson
303-320-7708
www.Goldresourcecorp.com
Your rating: None Average: 5 (2 votes)

Article Comments

Sponsored Links

Live SilverSeek Map