8-K - GORO - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 14, 2022

GOLD RESOURCE CORP ORATION

(Exact name of registrant as specified in its charter)


Colorado		001-34857		84-1473173
(State or other jurisdiction of<br><br>incorporation)		(Commission<br>File Number)		(I.R.S. Employer<br>Identification Number)

7900 E. Union Ave , Suite 320 Denver , Colorado		80237
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (303) 320-7708

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class		Trading Symbol(s)		Name of each exchange on which<br><br>registered
Common stock		GORO		NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

1.01

Item 2.02 Results of Operations and Financial Condition.

On April 14, 2022, Gold Resource Corporation issued a news release reporting its preliminary production and select financial results for the first quarter of 2022. A copy of the news release is attached as Exhibit 99.1 to this report.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any of the Company’s filings or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits. The following exhibits are furnished with this report:


99.1			News Release dated April 14, 2022
104			Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	GOLD RESOURCE CORPORATION

Date: April 14, 2022	By:	/s/ Allen Palmiere
	Name:	Allen Palmiere
	Title:	Chief Executive Officer and President

Microsoft Word - Jan 25 2021 Preliminary production_FINAL (1).docx

Exhibit 99.1

NEWS - FOR **** IMMEDIATE **** RELEASE NYSE **** American: **** GORO

GOLD **** RESOURCE **** CORPORATION ANNOUNCES PRELIMINARY RESULTS OF

11,729 GOLD EQUIVALENT OUNCES PRODUCED AND SOLD IN Q1 2022

Denver, Colorado – April 14, 2022 – Gold Resource Corporation (NYSE American: GORO) (the “Company”) sold a total of 8,381 ounces of gold and 265,407 ounces of silver in Q 1 2022 for a gold equivalent total of 11,729 ounces. Additionally, the Company sold 4,359 tonnes of zinc, 408 tonnes of copper, and 1,639 tonnes of lead contributing to a strong cash balance of over $31 million.

Allen Palmiere, President and CEO said “2022 is off to a good start with strong production results at the Don David Gold Mine in Mexico and the feasibility study advancing at the Back Forty Project in Michigan. Our investment in capital and exploration progressed during the quarter, including the completion of the filtration plant and dry stack facilities in January accelerating our environmental stewardship efforts.”

Sales Statistics

	Three months ended March 31,
	2022	2021
Metal sold
Gold (ozs.)	8,381	5,019
Silver (ozs.)	265,407	253,061
Copper (tonnes)	408	382
Lead (tonnes)	1,639	1,176
Zinc (tonnes)	4,359	3,134
Average metal prices realized^(1)^
Gold ($ per oz.)	1,898	1,787
Silver ($ per oz.)	23.94	26.77
Copper ($ per tonne)	10,144	8,873
Lead ($ per tonne)	2,347	2,082
Zinc ($ per tonne)	3,842	2,797
Precious metal gold equivalent ounces sold
Gold Ounces	8,381	5,019
Gold Equivalent Ounces from Silver	3,348	3,791
Total AuEq Ounces	11,729	8,810

(1) Average metal prices realized vary from the market metal prices due to final settlement adjustments from our provisional invoices. Our average metal prices realized will therefore differ from the average market metal prices in most cases.

Trending Production Statistics

	For the three months ended:
	Q1 2021	Q2 2021	Q3 2021	Q4 2021	Q1 2022
Arista Mine
Tonnes Milled	127,403	126,363	97,806	135,398	135,801
Average Gold Grade (g/t)	1.68	1.91	2.68	1.93	3.00
Average Silver Grade (g/t)	78	79	91	82	81
Average Copper Grade (%)	0.43	0.36	0.37	0.38	0.41
Average Lead Grade (%)	1.7	1.63	2.29	2.17	1.97
Average Zinc Grade (%)	4.29	3.64	4.79	4.77	4.89
Combined
Tonnes milled^(1)^	138,980	129,590	98,010	135,398	136,844
Tonnes Milled per Day^(2)^	1,604	1,506	1,353	1,559	1,590
Metal production (before payable metal deductions)^(^^3)^
Gold (ozs.)	6,097	6,555	6,933	6,853	11,187
Silver (ozs.)	307,610	295,979	265,829	330,873	332,292
Copper (tonnes)	441	368	284	413	431
Lead (tonnes)	1,737	1,654	1,808	2,345	2,073
Zinc (tonnes)	4,377	3,683	3,920	5,349	5,562

(1) Combined tonnes milled in Q1, Q2 and Q3 2021 included 11,577, 3,227 and 204 tonnes from the Open Pit Mine, respectively. The Open Pit Mine is no longer in production as of Q3 2021. Additionally, Q1 2022 combined tonnes milled includes 1,043 purchased tonnes related to an environmental initiative with a local community.

(2) Based on actual days the mill operated during the period.

(2) The difference between what we report as "Metal Production" and "Metal Sold" is attributable to the difference between the quantities of metals contained in the concentrates we produce versus the portion of those metals actually paid for according to the terms of our sales contracts. Differences can also arise from inventory changes related to shipping schedules, or variances in ore grades and recoveries which impact the amount of metals contained in concentrates produced and sold.

Q1 2022 Conference Call

The Company will issue a supplemental news release providing additional details regarding timing of the 10-Q filing with EDGAR for the period ended March 31, 2022 financial and operating results and details for a hosted conference call.

About GRC:

Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the company’s focus has been to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine and now that our acquisition of Aquila Resources Inc. is closed, to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the company’s Form 10-Q for an understanding of the risk factors associated with its business.

Contacts:

Kim Perry

Chief Financial Officer

Kim.Perry@GRC-USA.com