-- Posted Thursday, 29 July 2010 | Digg This Article
| | Source: GoldSeek.com
DENVER, CO--(Marketwire - 07/29/10) - Gold Resource Corporation (GRC) (OTC.BB:GORO) (Frankfurt:GIH) is pleased to announce it has declared an initial Special Cash Dividend of $0.03 per common share to its shareholders of record August 16th, 2010. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.
Gold Resource Corporation was created, in part, to return money to the owners of the Company, its shareholders. Since going public in September of 2006, management has remained focused on a disciplined capital structure, generating cash flow from operations and on the potential for distribution of meaningful dividends.
Gold Resource Corporation commenced Commercial Production July 1, 2010 from its El Aguila Project's operations in the southern state of Oaxaca, Mexico. The Company is very pleased with the Project's performance and by using cash flow generated from operations the Board of Directors declares a Special Cash Dividend in the amount of $0.03 per common share to be paid to those shareholders of record at the close of business on August 16th, 2010 and payable on or about August 26th.
Gold Resource Corporation's President, Mr. Jason Reid, stated, "We are proud to announce this initial Special Cash Dividend to our shareholders. Though there are no guarantees as to future dividends, we remain steadfast on our longstanding goal to return approximately one-third cash flow generated from operations back to the shareholders. This dividend declared just one month after Commercial Production commenced not only thanks shareholders for their continued support but underscores management's longstanding dividend commitment."
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 five potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 49,380,404 shares outstanding and no warrants. 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. In full disclosure, this initial dividend should not be considered a guarantee of future dividends. Potential special dividends may vary in amount and consistency or be discontinued at management's discretion depending on variables including but not limited to operational cash flows, Company development requirements and strategies, spot gold and silver prices, taxation policies and general market conditions. 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.
Contact:
Greg Patterson
Corporate Development
303-320-7708
-- Posted Thursday, 29 July 2010 | Digg This Article | Source: GoldSeek.com
