The following is a summary of the Gold Resource Corporation (GORO) Q1 2024 Earnings Call Transcript:
Financial Performance:
Gold Resource Corporation reported a Q1 net loss of $4 million or $0.05 per share with net sales of $18.7 million, a 40% reduction compared to the same period in 2023 due to lower volumes of metals sold and a lower zinc price.
Production costs for the quarter were slightly lower than the previous year at $16.1 million.
Despite difficulties, the company managed to process nearly 98,900 tonnes of ore and sold approximately 3,567 ounces of gold and 216,000 ounces of silver.
Business Progress:
Despite encountering equipment availability issues due to an aging fleet and unexpected poor ground conditions that forced a mine plan redevelopment, the company has taken initiatives for grade control and identified opportunities to improve recoveries.
Future plans include replacing certain mining equipment to reduce operating costs significantly, exploring the Three Sisters to add higher grade material to its resources, and increasing productivity by selectively mining higher-grade ore veins.
More details: Gold Resource IR
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