Year: 2016

Hacia 2018, la minera subsidiaria de Peñoles invertirá alrededor de mil 900 millones de dólares para el desarrollo de nuevos proyectos y aprovechando los excedentes de sus flujos relacionados con la revaluación del oro.

Gold Resource Corporation reported production results for the second quarter ended June 30, 2016 of 10,011 ounces of gold and 572,499 ounces of silver, which along with base metal revenue generated $26.2 million in net revenue for the quarter. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

“Production during the second quarter remained steady and slightly improved from Q1,” stated Brendan Cahill, President and Chief Executive Officer. “As a result of drier underground conditions, we accessed the second level of the Rodilla Manto where further high grade mineralization was mined. With operations on firmer track as a result of our continued efforts to improve operational efficiencies, we expect these improvements to reflect well in our operating costs during the quarter, further benefitted by higher commodity prices. As we move into the third quarter of 2016, we intend to remain focused on improving our operations through the ongoing optimization program, while carrying out exploration drilling near existing infrastructure and following up on high priority, drill-ready targets.”

“Proyectos como Metates, en Durango; Cerro del Gallo, en Guanajuato; Camino Rojo, en Zacatecas y Esperanza en Puebla, que en principio mostraban indicios de buena rentabilidad, debido a la baja en los precios internacionales de los metales y una legislación fiscal menos favorable, decidieron retrasar sus planes y entrar en un proceso de reconfigurar alcances y objetivos, en búsqueda de alternativas que cumplan con las expectativas de los accionistas”, dijo la Cámara Minera de México (CAMIMEX).

“As we await the approval of the MIA for the ‘Don Diego’ project, we remain confident that the project will move forward and our Mexican subsidiary is continuing ongoing efforts to support the environmental approval process with a goal of approval in the second half of 2016. Our current focus is to continue to secure contract work that keeps our offshore team and tools engaged while generating revenue. Although many of these third-party marine service agreements require us to abide by a non-disclosure agreement, I am happy to say that we are currently working on an offshore project on a chartered vessel of opportunity, and we also have additional opportunities in our pipeline that we expect to come to fruition in the near term. We anticipate that our third quarter activities will again generate double the revenue we produced this quarter.”

Of the proceeds raised, $500,000 will be used to purchase the remaining 50% interest in the San Diego silver project announced April 12, 2016 and the remaining funds will be used for general working capital. Effective today the formal agreements to purchase the remaining 50% interest in the San Diego silver project in Mexico were agreed, signed in part and are expected to be notarized and registered next week.

“Despite some production issues in the past few months, we have consistently maintained a positive cash flow. This has allowed us to explore for and find additional higher grade zones at the mine, as we recently reported, as well as to commence an aggressive drill program on our Toiyabe project located in Nevada. With the ramp up of our Altiplano processing facility, we are fully active in exploration, mining and industrial milling of concentrates, covering all facets of mining activity.” reported Robert Eadie, President of the Company.