Gold Resource Corporation (NYSE American: GORO) is a gold and silver producer targeting projects that feature low operating costs and high returns on capital. The Company's "Oaxaca Mining Unit" consists of 100% interest in six potential high-grade gold and silver properties in the southern state of Oaxaca, Mexico.
GORO successfully declared commercial production from its Oaxaca Mining Unit July 1, 2010 from a shallow, high-grade open pit at its Aguila project, which enabled the Company to reach production and cash flow in the shortest amount of time with one of the tightest capital structures for a producer. In March of 2011, GORO announced production from its polymetallic Arista mine. The Arista deposit is comprised of the Arista and Switchback vein systems, both which contain high-grade gold and silver as well as copper, lead and zinc. In 2017, GORO began mining operations from the Mirador Mine located on the Alta Gracia property. Mirador is the second operating mine within the Company's Oaxaca Mining Unit. The Company targets the extensions of these deposit and is exploring for additional deposits at its Oaxaca Mining Unit to add to its production profile.
The Company has distributed consecutive monthly dividends since commercial production totaling over $116 million as of January 2021. The corporate philosophy is to invest cash flow from operations back into exploration and development, while also returning a monthly dividend to shareholders. The Company has remained profitable for nine consecutive years, four of which were during bear markets in the precious metal space.
Mexico is one of the leading venues for mineral potential and production with an extensive history of mining.