Gold Resource Corporation

Published : April 21st, 2011

(angl) ANOMALOUS STORM IMPACTS GOLD RESOURCE CORPORATION’S AGUILA PROJECT; GOLD PRODUCTION EXPECTED

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Keywords :   Gold Producer | Gold Production |



ANOMALOUS STORM IMPACTS GOLD RESOURCE CORPORATION�S AGUILA PROJECT; GOLD PRODUCTION EXPECTED TO REMAIN UNAFFECTED

DENVER � Thursday, April 21, 2011 � Gold Resource Corporation�s (GORO) (NYSE Amex: GORO) El Aguila Project experienced an anomalous regional hail and rain storm which ended in the early morning hours of Wednesday, April 20th.  The storm is estimated to have produced over 10 inches of rain within three hours causing regional and mine power outages, flooding and some equipment damage at the Company�s underground Arista mine.  The Company is pleased to report no serious injuries to its personnel were sustained and mill production is expected to be unaffected by the incident.  Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.

The regional storm around the Company�s El Aguila Project lasted approximately three hours with heavy rain and uncharacteristic hail, some hail in excess of � inch in diameter.  The Company�s operations sustained hail damage to automobiles and limited roof damage to various structures.  In general, the mill remains unharmed and operational.

The unusual storm�s greatest impact was sustained to the Company�s Arista underground mine which experienced flooding of its lower levels along with some equipment damage.  The cleanup is expected to last two to three weeks after which mine development will continue.

Gold Resource Corporation�s President Mr. Jason Reid stated, �We are very pleased that no one was seriously injured in what amounted to be a freak hail storm for a region unaccustomed to hail, let alone hail and rain of this magnitude.  Though we expect a two to three week delay of Arista underground mine development from this incident, we also expect our Arista underground ore stockpiles currently at the mill to sustain continued and uninterrupted production of concentrates from our operation.  The most important aspect of this incident is the safety and wellbeing of our people, and thankfully they are all fine.  Clean up is underway and production of gold and silver are continuing.�    


Gold Resource Corporation
2886 Carriage Manor Point
Colorado Springs, CO 80906
USA


Gold Resource Corporation

PRODUCER
CODE : GORO
ISIN : US38068T1051
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Gold Resource Corp. is a gold exploration company based in United states of america.

Gold Resource Corp. produces gold, silver in Mexico.

Its main assets in production are EL AGUILA and ARISTA in Mexico and its main exploration properties are LAS MARGARITAS, EL REY, SOLAGA and ALTA GRACIA in Mexico.

Gold Resource Corp. is listed in United States of America. Its market capitalisation is US$ 26.1 millions as of today (€ 24.5 millions).

Its stock quote reached its highest recent level on June 11, 2010 at US$ 9.91, and its lowest recent point on September 15, 2023 at US$ 0.44.

Gold Resource Corp. has 57 107 884 shares outstanding.

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