Gold Resource Corporation’s Preliminary Results
Gold Resource Corporation (GORO) recently revealed its preliminary fourth-quarter results, including the sale of 3,757 ounces of gold and 258,252 ounces of silver (6,768 ounces of gold equivalent).
The company also reported the sale of 2,182 tons of zinc, 327 tons of copper, and 820 tons of lead. President and CEO, Allen Palmiere, stated that the production during the quarter was lower than the last four quarters due to lower average grades, as expected in their 2023 mine plan. He emphasized their pursuit of cost reductions and operational efficiencies.
Furthermore, Palmiere highlighted the encouraging results of the company’s 2023 drill program, which signify the potential for increased resources and reserves, leading to future enhanced production. Despite challenges presented by lower metal prices and a strong Mexican peso against the U.S. dollar, Palmiere expressed gratitude for a late-year gold price increase that eased some of the negative pressure from other metal prices.
5E Advanced Materials, Inc.’s Equity Financing
5E Advanced Materials, Inc. (FEAM) sealed its second tranche of equity financing, securing $7.75 million in new equity capital from 5ECAP, LLC. This follows the recent closure of $10 million in equity financing, earmarked to initiate the production of boric acid and lithium carbonate. The funding will also support the completion of the final stages of its processing plant.
Hecla Mining Company’s Expansion Plans
U.S. silver producer Hecla Mining Company (HL) expressed optimism about its expansion plans into regions such as Mexico, Peru, Bolivia, or Argentina, with a focus on the importance of silver in solar panels. CEO Phillips J. Baker is positive about the company’s acquisition of the Keno Hill Silver District in Canada, which produced 1.5 million ounces of silver in 2023 with reserves of 200 million ounces.
After facing production disruptions in 2023, Hecla aims to increase its annual silver production to 20 million ounces by 2025 through various operations.
