Gold Resource Corp. (GORO) 2024年年度報告「AMEX」.pdf

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1、2024 ANNUAL REPORT FORM 10K C O R P O R A T I O N Letter to Shareholders Dear Shareholders,While 2024 presented a number of significant challenges at our Don David Gold Mine in Mexico,we implemented some operational efficiencies,improved some incremental cost controls,and further prioritized project

2、s and initiatives that are necessary for us to achieve future higher margin,long-term production targets.Amongst the most outstanding achievements for the year must be our teams resilience,dedication,and the resulting Net-Zero Lost Time Injury record.With a year of tighter capital markets and limite

3、d available financing,we focused much of our capital on delineating higher-grade resources in our Three Sisters vein system,with the hope that it could lead to higher margin reserves in the future.To access this area,development capital is required to replace some of our aging mining fleet and to ad

4、d a third filter press to our processing plant.We are optimistic of our potential to secure sufficient financing alternatives to reach this objective.Our Board has remained small and dedicated to the task at hand,including a continued focus on safety and corporate governance.There were no changes to

5、 our management compensation policies,and we will continue to take measures to limit both cash and stock-based compensation and capital dilution during periods of lower share price performance.Furthermore,we have added new and active investors who are very much focused on the same objectives and are

6、 familiar with the jurisdiction in which we operate.This we hope will parlay into stronger local and political support in order to unlock the potential organic growth of our resources from the large exploration land package surrounding Don David.We will strive to maintain a safe,fair,and diversified

7、 workplace,along with our attention to environmental stewardship and contributions to our local communities.Our efforts remain fully committed to maintaining a disciplined balance sheet with a focus on improving our near-term production targets,while we rebuild towards a higher margin production pro

8、file for the future.We are grateful for our dedicated local workforce and the support of their communities,in addition to that of shareholders and stakeholders.Kind regards,Ron Little Interim Chair,Gold Resource Corporation Dear Shareholders,As the President and Chief Executive Officer of Gold Resou

9、rce Corporation,I remain very proud of our 2024 achievements and the efforts by our team on progressing our objectives during the year despite operating in a very challenging environment in many respects.We found 2024 to be a perfect storm for us.We experienced back-to-back hurricanes,political road

10、 blockades,and a volatile market that impacted metal prices,production,capital costs,and the execution of our strategic objectives,including financing.Other contributing factors that resulted in the Companys unfavorable performance as compared to original guidance for the year included low ore grade

11、s realized in the Arista and Switchback extremities,equipment constraints,and limited working faces.To provide further context on our 2024 performance,three years ago,we realized that we were facing two significant problems:our equipment fleet was wearing out and productivity was suffering.Our reser

12、ves and resources had declined to the point where we couldnt justify the capital to upgrade the fleet and so we decided to focus all available capital into exploration to increase the quality and quantity of our reserves.Fortunately,we were successful and discovered a new system named Three Sisters.

13、This new system is relatively close to surface and close to the current mine entrance,which we expect to result in lower mining costs through reduction of development cost and time.Due to the higher-grade orebody and wider mineralized zones that we are currently projecting in this system,this should

14、 allow for efficient mining and return excellent value in terms of production.Lastly,Three Sisters provides for enhanced operational flexibility and thereby,offers alternatives to the overall mining sequence.As we progressed through 2024,the team assessed the impacts of these above noted challenges

15、along with other bottlenecks to our current and future operations.During the second half,we initiated planning or a roadmap as to how to best execute our strategy starting this year that includes(1)engaging a contractor to develop and produce from Three Sisters,which will allow for improved mining e

16、fficiency and a balanced production strategy along with equipment and personnel availability or utilization,(2)purchasing a mining fleet to address mechanical availability and to improve productivity,and(3)adding a third filter for our tailings filter plant and eliminating the constraint on mill thr

17、oughput,which will eventually increase production closer to 1,500 tonnes per day and improve profitability.A few highlights experienced in 2024 include achievement of Zero Lost Time Injuries,which reflects the collective commitment by our team to maintain a safe and secure workplace.The team made a

18、number of significant operational improvements,including improvements to drilling and blasting practices that resulted in a reduction in mining costs and dilution.Further,the processing plant reduced filter press cycling times,minimizing grinding media consumption and increasing the solid percentage

19、 of our tails.Letter to Shareholders In closing,I remain very optimistic and excited about our future.We hold a high value asset with an increased mine life,in a market that has become much more focused on the production of precious and base metals.All of this sets a pathway for future positive returns for our stakeholders.Kind regards,Allen PalmierePresident&CEO,Gold Resource Corporation?