The following is a summary of the Gold Resource Corporation (GORO) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Gold Resource Corporation reported a net loss of $27.7 million in Q2 2024.

• Net sales of $20.8 million were 16% lower than the same period in 2023, primarily due to reduced metal sold volumes.

• Cash provided by operating activities was $1.4 million for the year, with $1.1 million dedicated to exploration.

• Total cash cost after co-product credits was $1,950 per gold equivalent ounce sold and all-in sustaining cost was $2,661 per ounce sold.

Business Progress:

• Implemented cost-saving initiatives, reducing mining development costs by 10% and infill drilling costs by 20% from the previous year.

• Navigated operational challenges such as roadblocks and tropical storms, maintaining production and employee safety with zero lost time incidents.

• Building on exploration success in the new mineralized zones of Three Sisters and Gloria, which indicate promising grades and potential future increases in production.

Opportunities:

• The weakening of the Mexican peso, which constitutes about 50% of operating costs, presents an opportunity to decrease expenses further and improve profitability.

• Exploring opportunities to enhance shareholder value through operational improvements and strategic initiatives.

Risks:

• Faced significant operational disruptions including roadblocks, extreme weather conditions, and work stoppages, impacting production negatively.

• Navigating market volatility with potential impacts on commodity prices and capital availability for projects like Back Forty.

• Dealing with deferred tax asset write-offs and interest accruals on streaming liability due to increased gold prices.

More details: Gold Resource IR

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