Gold Resource Corp Is Not A Primary Precious Metals Producer Anymore
Today Gold Resource Corp (NYSE: GORO) released its 2Q 2017 production results. The company produced the following amounts of metals:
- Gold: 5,696 ounces
- Silver: 397,670 ounces
- Copper: 294 tonnes
- Lead: 1,207 tonnes
- Zinc: 4,176 tonnes
Now, assuming the following, average metal prices recorded in 2Q 2017:
- Gold: $1,258 per ounce
- Silver: $17.21 per ounce
- Copper: $5,662 per tonne
- Lead: $2,161 per tonne
- Zinc: $2,596 per tonne
the metals produced in 2Q 2017 were worth:
(Click on image to enlarge)
source: Simple Digressions
Or, look at another chart:
(Click on image to enlarge)
source: Simple Digressions
As the chart shows, the value of base metals produced in 2Q 2017 was higher than the value of precious metals.
So, GORO is not a primary precious metals producer anymore, which means that from now on the company's peers are base metals producers.
Disclaimer: This article is not an investment advice. I am not a registered investment advisor. Under no circumstances should any content from here be used or interpreted as a recommendation for ...
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