COLORADO SPRINGS, May 27, 2020 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced it has received written government approval to restart its Oaxaca Mining Unit (OMU) operations in Mexico. After nearly eight weeks of government mandated shutdown, the Company has begun to restart its operations for the gradual ramp up of production while focusing on workforce, contractor and community safety as the global pandemic continues. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $114 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The Company originally suspended OMU operations on April 1, 2020 after the Mexican Ministry of Health proclaimed a national health emergency closing all “non-essential” public and private sector businesses to mitigate the spread and transmission of the COVID-19 virus. In mid-May, the Mexican government designated mining as an essential activity and offered the potential for mining companies to restart operations prior to June 1, 2020 if companies submitted an acceptable restart safety protocol. After reviewing Gold Resource Corporation’s safety protocol documentation, the Instituto Mexicano del Seguro Social (IMMS) approved in writing the restart of the Company’s OMU operations on May 25, 2020.
The Company is not currently aware of any COVID-19 cases at its operations and will continue to train, promote, and utilize protective measures for workers and neighboring communities, including screening, physical distancing, deep cleaning, and avoiding exposure for at-risk individuals. The operational restart has begun in a secure, orderly and efficient manner, with the primary focus on safety. The Company is pleased to be back at work providing a strong economic impact and benefit to the local communities, the state of Oaxaca and the country of Mexico. The ability to be back at work will help counter the economic devastation caused by the pandemic and associated wide-spread business suspensions imposed by the Mexican Government.
About GRC:
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $114 million back to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. 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.
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, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Also, 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 SEC.
Contacts:
Corporate Development
Greg Patterson
303-320-7708
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