Solid financial results are becoming the norm among Gold stocks in the aftermath of gold prices powering to record highs. Gold Resource Corporation (NYSEAMERICAN:GORO) is the latest to report impressive 1Q 2021 financial results on net income totaling $2.5 million and earnings per share tallying $0.03, in line with quarterly guidance.
Q1 Results
The Colorado-based gold and silver company produced 6,097 ounces of gold and 307,610 ounces of silver in the quarter leading to $27.3 million in revenues. The company ended the quarter with $1.8 million in cash.
During the quarter, Gold Resource reinvested $5 million into exploration and infrastructure improvements at its Don David Gold Mine. The investment is part of the company’s efforts to ramp up production to take advantage of the high gold and silver prices.
The board has also confirmed a change in the frequency in which the company will be paying dividends. Similarly, the dividends may vary in amount and consistency going forward.
Royalty Company
TNR Gold Corp (CVE:TNR) (OTCMKTS:TRRXF), on the other hand, has confirmed it is building a new kind of royalty company. Its plan with the new push is to give investors a new way of investing in both precious and green energy metals.
The setting up of the new company would be made possible by the fact that the company holds net smelter rerun royalties. It currently owns projects containing copper, gold, silver, and lithium metal. In 2009, the company unveiled International Lithium Corp, a green energy company that went public.
Separately Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) has confirmed work is going on well at the Hokusatsu region as part of its alliance with Barrick Gold. The company has already started geochemical sampling and geophysical gravity surveying in the area.
The company has applications and prospecting rights covering 96,733 in the region, which is one of Japan’s largest gold-producing regions. Barrick Gold has also committed $4 million in exploration efforts for the second year. The alliance between the two companies includes 29 projects.
