I received the following note concerning Gold Resource Corp (GORO) from Peter Spina at Goldseek.com. He is very enthusiastic about the company, but I’ll leave the due diligence to you:
“In my 15 years as a gold investor, there are only a handful of companies that I have seen hold the vision and ability to execute a new gold deal, project like the management of Gold Resource Corp (GORO) has. After Rob McEwen purchased US Gold Corp. from the Reid brothers, they continued on with Gold Resource Corp., going public in late 2006. Just over 3 years later, they announced commercial production on July 1. With high-high grade gold and silver along with base metals, production costs are ultra-low. $200 an ounce and falling to around $0 as production moves to 200,000 gold eq. a year.
“Major points: GORO is now in production, significant dividends are likely to begin in the coming quarter or two (1/3 of cash flow targeted towards dividends going forward), and up-listing to NYSE: AMEX now underway. Unlike most gold deals put together, GORO has sustained an incredibly disciplined share structure, under 50 million shares and 53FD. No debt, cash flow beginning in a big way, the company is currently being revalued by the market.
“Here is my update on GORO, world-class ore grades, creating a world class deposit: