Gold Resource Corporation (GRC) (OTC BB: GORO) has been engineered to maximize shareholder value by emerging in the elite class of low-cost gold producers and focusing on cash flow and potential dividends. GRC targets gold production at the low cash cost of $100 per ounce by mid-2009. Cash flow from near term gold production coupled with tremendous exploration potential position Gold Resource Corporation as a premier investment for exposure to the gold space.
Company Statement:
Focusing on financial performance, Gold Resource Corporation has been engineered from day one to maximize shareholder value with:
• Tight capital structure resulting in only 36 million shares outstanding
• High-grade, low cost mining projects that must be able to repay the capital invested in
those projects in one year or less (100% IRR)
• Establishing production at the earliest point in time so the Company can be built with
cash flow and not continued equity sales
• Increasing resources, increasing production and increasing cash flow
Production funding for the Company’s flagship El Aguila Project, in southern state of Oaxaca, Mexico, include well known gold funds like Tocqueville Gold Fund (U.S. based) as well as Hochschild Mining Plc (premier precious metals producer). Other institutional investors include Heemskirk Consolidated (an Australian global mining house), Range Capital and Golden Prospect (both London based resource funds), as well as many other resource focused institutions.
It is also important to note that GRC’s management team is not only a large shareholder of Gold Resource Corporation but they have also put 6 mines into production with their previous company. GRC’s El Aguila Project will be management’s 7th producing mine.
Gold Resource's Objective
Gold Resource Corporation's objective is to create shareholder value by establishing production and generating superior financial performance through the development of gold and silver projects that feature low operating costs and produce high returns on capital. Management's commitment to shareholder value is reflected in the disciplined approach it has taken to the Company's capital structure, its focus on rapid project execution and its goal of meaningful dividend distributions.
GRC's initial exploration efforts have been focused on the El Aguila project, a property featuring high-grade gold and silver mineralization located in Oaxaca, Mexico. Recent discoveries indicate the project is well suited for GRC's performance targets. An independent scoping study indicated cash production costs of approximately $100 per ounce of gold, and an annual return-on-capital of greater than 100%, indicating a capital payback of less than one year.
Management has established an aggressive schedule for the El Aguila project and targets production the second half of 2008.
Three additional project opportunities have been established in relatively close proximity to El Aguila: the Las Margaritas silver property, the El Rey gold property, and the Solaga silver property. Collectively, they provide the Company with a pipeline of potential projects that would expand and diversify the Company's precious metal production profile. The Company plans to have four high-grade properties feeding one mill.
GRC's project opportunities are enhanced by the very favorable price environment for gold and silver. The Company's high-grade projects also offer the opportunity to maintain profitability when the metal-price cycle turns downward.
Why Mexico? : Mexico is one of the world's leading venues for mineral potential and has a 500 year history of mining. The Fraser Institute's 2004/2005 Mining Survey ranked Mexico fifth out of 64 worldwide venues in current mineral potential. Additionally, Mexico ranked eighth in the same survey for composite policy and mineral potential.
Current Operations:
El Aguila Project: Exploration: The El Aguila Project, located 120 kilometers southeast of the capital city of Oaxaca, Mexico, is a significant, newly discovered high-grade gold and silver system. The property has yielded several exceptional gold and silver surface samples, including a 36 grams-per-ton (g/t) gold sample and a 3,100 g/t silver sample. (Read More)
Las Margaritas Project: Las Margaritas is a high-grade silver property in which GRC holds a 100% interest. It comprises the four northwest kilometers of the important N 70 W structural corridor, which is an extension of the El Aguila system. In addition, Las Margaritas occupies ground within an inferred caldera (collapsed volcanic center). (Read More.. http://www.goldresourcecorp.com/project-lm.php)
El Rey Project: El Rey is a high-grade gold property in which GRC has a 100% interest. While the site has been mined previously, very little information is known about the property. GRC has taken two selective grab samples from the dump material around the original shaft. The two samples assayed 80 and 85 g/t of gold, indicating that the samples are of potential vein material. (Read More.. http://www.goldresourcecorp.com/project-er.php)
Solaga Project: Solaga is a high-grade silver property in which GRC holds a 100% interest. The 400 hectare property was previously mined in the 1980's. Initial high-grade selective sampling ran 15 kilo's (15,000 grams / tonne or 488 oz/ton or 1.5%) silver per tonne. (Read More.. http://www.goldresourcecorp.com/project-so.php)
Management
William (Bill) Reid - President, CEO and Director
David Reid - Vice President of Exploration and Director
Jose (Pepe) Perez Reynoso - Manager of Mexican Operations
Jason Reid - Vice President of Corporate Development
Monty Jennings - CFO
Bill M. Conrad - Director
Gold Resource Corporation
Jason Reid, Vice President / Corporate Development
222 Milwaukee Street, Suite 301
Denver, Colorado 80206
303-320-7708 Office
303-320-7835 Fax
719-330-0258 Cell
Source: http://www.goldresourcecorp.com/ and http://www.proactiveinvestors.co.uk/companies/sponsors_landing/8777/gold-resource-corp-8777.html
Company Statement:
Focusing on financial performance, Gold Resource Corporation has been engineered from day one to maximize shareholder value with:
• Tight capital structure resulting in only 36 million shares outstanding
• High-grade, low cost mining projects that must be able to repay the capital invested in
those projects in one year or less (100% IRR)
• Establishing production at the earliest point in time so the Company can be built with
cash flow and not continued equity sales
• Increasing resources, increasing production and increasing cash flow
Production funding for the Company’s flagship El Aguila Project, in southern state of Oaxaca, Mexico, include well known gold funds like Tocqueville Gold Fund (U.S. based) as well as Hochschild Mining Plc (premier precious metals producer). Other institutional investors include Heemskirk Consolidated (an Australian global mining house), Range Capital and Golden Prospect (both London based resource funds), as well as many other resource focused institutions.
It is also important to note that GRC’s management team is not only a large shareholder of Gold Resource Corporation but they have also put 6 mines into production with their previous company. GRC’s El Aguila Project will be management’s 7th producing mine.
Gold Resource's Objective
Gold Resource Corporation's objective is to create shareholder value by establishing production and generating superior financial performance through the development of gold and silver projects that feature low operating costs and produce high returns on capital. Management's commitment to shareholder value is reflected in the disciplined approach it has taken to the Company's capital structure, its focus on rapid project execution and its goal of meaningful dividend distributions.
GRC's initial exploration efforts have been focused on the El Aguila project, a property featuring high-grade gold and silver mineralization located in Oaxaca, Mexico. Recent discoveries indicate the project is well suited for GRC's performance targets. An independent scoping study indicated cash production costs of approximately $100 per ounce of gold, and an annual return-on-capital of greater than 100%, indicating a capital payback of less than one year.
Management has established an aggressive schedule for the El Aguila project and targets production the second half of 2008.
Three additional project opportunities have been established in relatively close proximity to El Aguila: the Las Margaritas silver property, the El Rey gold property, and the Solaga silver property. Collectively, they provide the Company with a pipeline of potential projects that would expand and diversify the Company's precious metal production profile. The Company plans to have four high-grade properties feeding one mill.
GRC's project opportunities are enhanced by the very favorable price environment for gold and silver. The Company's high-grade projects also offer the opportunity to maintain profitability when the metal-price cycle turns downward.
Why Mexico? : Mexico is one of the world's leading venues for mineral potential and has a 500 year history of mining. The Fraser Institute's 2004/2005 Mining Survey ranked Mexico fifth out of 64 worldwide venues in current mineral potential. Additionally, Mexico ranked eighth in the same survey for composite policy and mineral potential.
Current Operations:
El Aguila Project: Exploration: The El Aguila Project, located 120 kilometers southeast of the capital city of Oaxaca, Mexico, is a significant, newly discovered high-grade gold and silver system. The property has yielded several exceptional gold and silver surface samples, including a 36 grams-per-ton (g/t) gold sample and a 3,100 g/t silver sample. (Read More)
Las Margaritas Project: Las Margaritas is a high-grade silver property in which GRC holds a 100% interest. It comprises the four northwest kilometers of the important N 70 W structural corridor, which is an extension of the El Aguila system. In addition, Las Margaritas occupies ground within an inferred caldera (collapsed volcanic center). (Read More.. http://www.goldresourcecorp.com/project-lm.php)
El Rey Project: El Rey is a high-grade gold property in which GRC has a 100% interest. While the site has been mined previously, very little information is known about the property. GRC has taken two selective grab samples from the dump material around the original shaft. The two samples assayed 80 and 85 g/t of gold, indicating that the samples are of potential vein material. (Read More.. http://www.goldresourcecorp.com/project-er.php)
Solaga Project: Solaga is a high-grade silver property in which GRC holds a 100% interest. The 400 hectare property was previously mined in the 1980's. Initial high-grade selective sampling ran 15 kilo's (15,000 grams / tonne or 488 oz/ton or 1.5%) silver per tonne. (Read More.. http://www.goldresourcecorp.com/project-so.php)
Management
William (Bill) Reid - President, CEO and Director
David Reid - Vice President of Exploration and Director
Jose (Pepe) Perez Reynoso - Manager of Mexican Operations
Jason Reid - Vice President of Corporate Development
Monty Jennings - CFO
Bill M. Conrad - Director
Gold Resource Corporation
Jason Reid, Vice President / Corporate Development
222 Milwaukee Street, Suite 301
Denver, Colorado 80206
303-320-7708 Office
303-320-7835 Fax
719-330-0258 Cell
Source: http://www.goldresourcecorp.com/ and http://www.proactiveinvestors.co.uk/companies/sponsors_landing/8777/gold-resource-corp-8777.html
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