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Dec 31, 2020
Gold Resource Q4 2020 Earnings Report
Reported net income and revenue for the year ended December 31, 2020.
Key Takeaways
Gold Resource Corporation reported a net income of $4.4 million and revenue of $90.7 million for the year ended December 31, 2020. The Don David Gold Mine delivered solid production results despite a two-month mandatory government shut-down.
Net income of $4.4 million reported.
Revenue of $90.7 million reported.
Mine gross profit of $12.5 million from continuing operations reported.
Cash and cash equivalents of $25.4 million reported.
Gold Resource
Gold Resource
Forward Guidance
The Company plans to make significant investments in Oaxaca, Mexico for infrastructure and exploration in 2021, with the majority of exploration work expected to be spent on drilling and exploration drifts at the Aguila project.
Positive Outlook
- Metal production is expected to increase slightly over 2020.
- Focus on operational excellence.
- Improved operating margins reflected in a reduced cash cost per ounce after by-product credits.
- Capital Investment of $22.0 million planned.
- Exploration Commitment of $7.2 million planned.