Mexico Ministry of Health Orders Thirty-Day Suspension of All Non-Essential Business Including Mining
Colorado Springs, CO - (NewMediaWire) - April 01, 2020 - Gold Resource Corporation (NYSE American: GORO) (the
“Company”) announced today that the Mexican Ministry of Health
proclaimed a national health emergency with an immediate suspension order of
all “non-essential” public and private sector business in order to mitigate the
spread and transmission of the COVID-19 virus. The order became effective
on its publication date in the Official Gazette of the Federation (dated March
31, 2020) and remains in place for a period of 30 days, from March 30 to April
30, 2020. This suspension order temporarily closes the Company’s Oaxaca
Mining Unit operations in Mexico.
Gold Resource Corporation is in the
process of furloughing its Oaxaca Mining Unit workforce, none of whom have been
diagnosed with the virus. A limited operational staff will maintain
safety and environmental systems at the Oaxaca Mining Unit along with
performing care and maintenance with a goal to return to production as quickly
as possible once the thirty-day suspension is lifted. Due to this
mandated shutdown the Company suspends its 2020 production outlook.
The Company’s Nevada Mining Unit is
currently operating while taking numerous precautionary measures to keep its
employees safe. As this unprecedented situation continues to evolve on
often an hourly basis, we appreciate our shareholders’ support as we navigate
the impacts of the COVID-19 pandemic on the business world.
About GRC:
Gold Resource Corporation is a gold
and silver producer, developer and explorer with operations in Oaxaca, Mexico
and Nevada, USA. The Company targets low capital expenditure projects
with potential for generating high returns on capital. The Company has
returned $113 million back to its shareholders in consecutive monthly dividends
since July 2010 and offers its shareholders the option to convert their cash
dividends into physical gold and silver and take delivery. 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.
Cautionary Statements:
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 SEC.
Contacts:
Corporate Development
Greg Patterson
303-320-7708