8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 30, 2024

GOLD RESOURCE CORPORATION

(Exact name of registrant as specified in its charter)

Colorado	001-34857	84-1473173
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

7900 E. Union Ave, Suite 320 Denver, Colorado	80237
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (303) 320-7708

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	GORO	NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

1.01

Item 2.02  Results of Operations and Financial Condition.

On January 30, 2024, Gold Resource Corporation issued a news release reporting its preliminary production and select financial results for the fourth quarter of 2023. A copy of the news release is attached as Exhibit 99.1 to this report.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any of the Company’s filings or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits

(d)  Exhibits. The following exhibits are furnished with this report:

99.1	News Release dated January 30, 2024
104	Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GOLD RESOURCE CORPORATION
Date: January 30, 2024	By:	/s/ Allen Palmiere
	Name:	Allen Palmiere
	Title:	Chief Executive Officer and President

3

EX-99.1

Exhibit 99.1

NEWS - FOR IMMEDIATE RELEASE NYSE American: GORO

GOLD RESOURCE CORPORATION ANNOUNCES PRELIMINARY FOURTH QUARTER AND YEAR-END RESULTS

Denver, Colorado - January 30, 2024 – Gold Resource Corporation (NYSE American: GORO) (the “Company”) announces its preliminary fourth quarter results that includes the sale of 3,757 ounces of gold and 258,252 ounces of silver resulting in total gold equivalent (AuEq) ounces of 6,768. Additionally, the company sold 2,182 tonnes of zinc, 327 tonnes of copper, and 820 tonnes of lead. During the year ending December 31, 2023, the company sold 31,085 AuEq ounces, 10,954 tonnes of zinc, 1,231 tonnes of copper, and 4,501 tonnes of lead.

“Production during the quarter was lower than the last four quarters mainly due to lower average grades as was expected in our 2023 mine plan. We continue to identify and implement opportunities for cost reductions and operational efficiencies. Our 2023 drill program resulted in encouraging positive results that demonstrate the potential to increase our resources and reserves that could lead to future increased production⁽¹⁾” stated Allen Palmiere, President and CEO. “The last quarter has continued to present challenges beyond our control as the most metal prices have continued to be lower than planned and the Mexican peso has remained strong against the US Dollar. We did see an increase above plan in the gold price towards the end of the year which has helped to relieve some of the negative pressure from other metal prices.”

Sales Statistics	Three months ended December 31,		Twelve months ended December 31,
	2023	2022	2023	2022
Metal sold
Gold (ozs.)	3,757	7,514	18,534	30,119
Silver (ozs.)	258,252	335,168	1,036,229	1,057,209
Copper (tones)	327	372	1,231	1,348
Lead (tonnes)	820	941	4,501	5,391
Zinc (tonnes)	2,182	3,265	10,954	14,157
Average metal prices realized(2)
Gold ($ per oz.)	1,985	1,734	1,955	1,801
Silver ($ per oz.)	23.14	21.25	23.68	21.53
Copper ($ per tonne)	8,205	8,221	8,513	8,795
Lead ($ per tonne)	2,122	1,954	2,158	2,129
Zinc ($ per tonne)	2,516	2,577	2,621	3,539
Precious metal gold equivalent ounces sold
Gold Ounces	3,757	7,514	18,534	30,119
Gold Equivalent Ounces from Silver	3,011	4,107	12,551	12,638
Total AuEq Ounces	6,768	11,621	31,085	42,757

(1) See the press release titled “Gold Resource Corporation Reports Continued Positive Drill Results at Don David Gold Mine” published September 12, 2023. The press release can be found at https://goldresourcecorp.com/news-releases/gold-resource-corporation-reports-continued-positi-6343/.

(2) Average metal prices realized vary from the market metal prices due to final settlement adjustments from our provisional invoices. Our average metal prices realized will therefore differ from the average market metal prices in most cases.

Trending Production Statistics

3)
	For the three months ended:
	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023
Arista Mine
Tonnes Milled	110,682	116,616	116,721	113,510	116,626	111,255
Average Gold Grade (g/t)	1.98	2.51	2.33	1.59	1.52	1.44
Average Silver Grade (g/t)	80	109	94	86	73	85
Average Copper Grade (%)	0.37	0.45	0.37	0.37	0.32	0.39
Average Lead Grade (%)	1.59	1.58	1.73	1.64	1.29	1.39
Average Zinc Grade (%)	4.21	4.27	3.88	3.72	3.24	2.95
Combined
Tonnes milled(3)	110,682	116,616	117,781	113,510	116,626	111,255
Tonnes Milled per Day(4)	1,361	1,389	1,420	1,395	1,557	1,379
Metal production (before payable metal deductions)(5)
Gold (ozs.)	5,851	7,767	7,171	4,637	4,443	4,077
Silver (ozs.)	261,256	370,768	322,676	289,816	247,159	282,488
Copper (tonnes)	296	406	336	334	276	341
Lead (tonnes)	1,249	1,323	1,559	1,389	1,048	1,072
Zinc (tonnes)	3,901	4,198	3,837	3,569	3,223	2,884

(3) Combined tonnes milled in Q1 and Q2 2022 and Q1 2023 includes 1,043, 215, and 1,060 purchased tonnes, respectively, related to a collaborative initiative with a local community to ensure the proper environmental treatment and storage of the material.

(4) Based on actual days the mill operated during the period.

(5) The difference between what we report as "Metal Production" and "Metal Sold" is attributable to the difference between the quantities of metals contained in the concentrates we produce versus the portion of those metals actually paid for according to the terms of our sales contracts. Differences can also arise from inventory changes related to shipping schedules, or variances in ore grades and recoveries which impact the amount of metals contained in concentrates produced and sold.

Year-End 2023 Conference Call

The Company will host a conference call Thursday, March 14, 2024 at 10:00 a.m. Eastern Time.

The conference call will be recorded and posted to the Company’s website later in the day following the conclusion of the call. Following prepared remarks, Allen Palmiere, President and Chief Executive Officer, Alberto Reyes, Chief Operating Officer and Chet Holyoak, Chief Financial Officer will host a live question and answer (Q&A) session. There are two ways to join the conference call.

To join the conference via webcast, please click on the following link:

https://onlinexperiences.com/Launch/QReg/ShowUUID=F24608AC-00ED-4198-B37C-E83FCE95DDEB

To join the call via telephone, please use the following dial-in details:  

Participant Toll Free: +1 (888) 886-7786

International:             +1 (416) 764-8658

Conference ID: 34193701

Please connect to the conference call at least 10 minutes prior to the start time using one of the connection options listed above.

About GRC:

Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico.  The company’s focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the Don David mine and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the company’s Form 10-K for an understanding of the risk factors associated with its business.

Contacts:

Chet Holyoak

Chief Financial Officer

Chet.Holyoak@GRC-USA.com

www.GoldResourceCorp.com 

XML

Document and Entity Information	Jan. 30, 2024
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Jan. 30, 2024
Entity File Number	001-34857
Entity Registrant Name	GOLD RESOURCE CORP
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	84-1473173
Entity Address, Address Line One	7900 E. Union Ave
Entity Address, Adress Line Two	Suite 320
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80237
City Area Code	303
Local Phone Number	320-7708
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock
Trading Symbol	GORO
Security Exchange Name	NYSEAMER
Entity Emerging Growth Company	false
Entity Central Index Key	0001160791
Amendment Flag	false