Gold Resource Corp (GORO)

[honestlybusy]

Thanks Checkmate. I sent off an email to Greg yesterday and he replied back rather quickly. Everything you posted was spot on to what he told me. I will add that they haven't made a decision on how they will finance the 25-30 million capex for Isabella Pearl. He stated in the email:

"we see three (3) potential ways to pay for Isabella Pearl development/build:

1. Cash from the Company treasury as well as cash provided from daily Mexico operations
2. Debt financing from equipment manufacturers (such as crusher/conveyor equipment). We have zero debt today.
3. Equity sales (note last equity sales for cash was in August of 2010)

We very well may use a bit of all three (3) of the above to finance the Isabella Pearl Project."



Daily production has not yet started at the Mirador Mine but he did state that production should be within the next 2-4 weeks. Initially it will provide 100-200 tons per day. This will be a silver producer. At full production he felt it would bring 500,000 silver ounces per year.



Started my long position today and will add more over the next few weeks.


HB