Day: March 9, 2016

“We will seek more efficiency in our operations and will reinvest into a robust pipeline of existing organic growth opportunities. We believe this strategic renewal offers the best potential returns with the lowest risk profile,” said David Garofalo, President and Chief Executive Officer. “The changes in our team and streamlined reporting structure will support our strategy and accelerate our achievement of improved results.”

“The company anticipates that the process will take approximately six months,” continued Mr. Eadie. “Once completed, the transaction is yet another milestone for Starcore. It will enable the Company to pay its outstanding debt, and still have a healthy budget with additional funds to be allocated for exploration and geology programs at our San Martin mine and our other properties.”

“In this challenging commodity price environment our first priority is to reduce our debt risk,” said Darren Pylot, Capstone President and CEO. “The recent upward spike in the copper price allowed us to opportunistically lock in most of our revenue for the first half of the year to help ensure compliance with our debt covenants. Beyond the first half of 2016, when production from our high grade Minto North pit is expected to contribute significant EBITDA, we remain open to copper price changes.”

“Although 2015 proved to be another difficult and challenging year for both precious metals and precious metal producers, I am very proud that Gold Resource Corporation not only overcame many challenges, but delivered its fifth consecutive year of profitability, four of which were in bear markets,” stated Gold Resource Corporation CEO and President, Mr. Jason Reid. “While we watched several industry peers declare bankruptcy during 2015’s tough and volatile metal market, our Company posted annual net income of $3.1 million or $0.06 per share, returned $6.5 million back to our shareholders through dividends, and continued to invest in the Company’s future growth in Mexico and Nevada. We accomplished this without raising money and without going into debt…”