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COLORADO SPRINGS, CO -- (Marketwire) -- 08/17/11 -- Gold Resource Corporation (NYSE Amex: GORO) reports holding a portion of the Company's treasury in physical gold and silver. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $22 million to shareholders in special monthly dividends since declaring commercial production July 1, 2010.
Gold Resource Corporation's second quarter 2011 results included record production, record revenue and record dividends and the Company's treasury has increased. The Board of Directors has approved minting the Company's first tranche of Gold Resource Corporation Double Eagle one ounce gold and silver coins. This initial minting will diversify approximately $1,000,000 of the Company's treasury into physical precious metals. To the extent the Company's production increases and the treasury expands, the Company anticipates it will hold an increasing portion of its assets in physical gold and silver.
The Company is focused on its comprehensive business plan to become the "go to" gold investment. Part of that multipronged approach consists of holding a portion of its treasury in physical gold and silver as well as possibly offering shareholders holding certain minimum positions the ability to someday receive their dividends in-kind.
"Holding physical gold and silver in our treasury provides an excellent means of diversification in light of today's world economic conditions and not only provides that diversification to shareholders but underscores Gold Resource Corporation's commitment to precious metals," stated Jason Reid, Gold Resource Corporation's President. "Minting Gold Resource Corporation's Double Eagle precious metal coins, currently underway, not only marks the next Company milestone but takes a large step towards potentially offering our shareholders a future in-kind dividend. With the unprecedented printing of Fiat currencies around the world and the potential negative impact of governmental policies of various nations around the globe, Gold Resource Corporation provides investors excellent precious metal exposure from an increasing production profile, from dividends and now with physical exposure in the Company's treasury."
About GRC
