Welcome to the Gold Resource Corp. HUB on AGORACOM

NASDAQ : GORO / Low operating costs and producing high returns on capital.

Message: Production delays


Don't know if you listened to the conference call today. Both were discussed at length. The delay was cause by one of the permits being late. Production as a result will be a couple months behind schedule. The dilution issue will be determined by how soon they can get into production. If there are no further delays, there is a definite possibility no more financing will be needed as they are under budget for construction. In the event financing is needed, it's no big deal because the dilution would only be for 1 or 2 million shares. So I would call it a nonissue.

Overall, the conference was very upbeat and positive. They all continue to be more impressed by the drill results that increasingly show just how large and high grade the resource is. I thought an interesting side light when discussing the robustness of the system was Bill describing how anytime they allow a visiting geo to take a look at it, they go gaga. I remember reading that Touceville sent their company geo down to take a look for a few days. Soon as he got back they bought 10% of the GORO. What's that tell you.

One other thing stands out. Bill was discussing the profitability issue he described the grades of the ore as being so profitable that Goro will be very profitable even with gold at $600 or $700 an oz.

New Message
Please login to post a reply