COLORADO SPRINGS, CO, Aug 25, 2011 -- Gold Resource Corporation (NYSE Amex: GORO) is pleased to announce it has increased its monthly dividend declared for August to $0.05 per common share payable on September 23, 2011 to shareholders of record as of September 12, 2011. The Company has now instituted a regular monthly dividend policy to replace its special dividend policy. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.
Gold Resource Corporation commenced Commercial Production July 1, 2010 from its El Aguila Project's operations in the southern state of Oaxaca, Mexico. The Board of Directors have now declared the August Dividend, the fourteenth dividend in as many months of commercial production and eighth of 2011. The August Dividend, increased to $0.05 from $0.04, brings the total dividends declared since commencing Commercial Production to $0.48 per share to date ($0.30 per share for 2011), returning to shareholders over $24.6 million.
Gold Resource Corporation's President, Mr. Jason Reid, stated, "With record production, record revenue and record dividends paid in the second quarter, the increased August dividend to five cents per share per month, coupled with the fact that it has now been instituted, speaks to the positive outlook we have for the continued success and current production trajectory of the Aguila Project. Monthly production is increasing, ore grades are increasing and we continue making good strides on the underground mine development. Our dividends reward the owners of the Company, its long term shareholders."
About GRC: Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 52,998,303 shares outstanding, no warrants and no debt and has returned over $24.6 million to shareholders in dividends since declaring commercial production July 2010. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's 10-K filed with the Securities and Exchange Commission
SOURCE: Gold Resource Corporation