Gold Resource Corp (NYSE MKT:GORO) says that gold production at its El Aguila mine in Mexico increased in the third quarter from the prior period but fell slightly year-over-year.
For the three months that ended September 30, the company produced approximately 21,200 ounces of gold equivalent, up from 20,574 ounces in the second quarter, but down from 22,336 ounces a year ago.
The gold producer said construction remains on track to deliver the complete Aguila mill expansion of 1,500 tonnes per day by the end of this year. The company continues to develop the Arista underground mine as it is expected to deliver increased daily tonnage to the Aguila mill at year-end into next year.
Gold Resource Corp also stood by its full year production outlook of between 80,000 to 100,000 gold equivalent ounces, producing 64,148 this year so far.
We are very close to completing our mill expansion and continue to focus on development of our Arista underground mine in preparation for pulling increased tonnes to feed our expanded new mill,” said president and CEO Jason Reid in the statement.
Since declaring production at the mine in July 2010, the U.S.-based gold producer has returned more than $90 million to shareholders in monthly dividends. Full financial results for the third quarter will be available when the company files its quarterly report with the SEC, Gold Resource Corp said.
Shares were higher by almost 2 per cent on Tuesday Morning, at $4.74.