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GOLD RESOURCE CORPORATION FOR IMMEDIATE RELEASE July 27 , 2021 NEWS NYSE American : GORO GOLD RESOURCE CORPORATION REPORTS STRONG YEAR TO DATE OPERATING CASH FLOW OF $ 16.1 MILLION • REVENUE STRONG AT $ 30.8 MILLION • CASH FLOW FROM OPERATING ACTIVITIES OF $ 16.1 MILLION • CASH OF $ 30.5 MILLION AT JUNE 30 , 2021 • IMPLEMENTED PROFIT SHARING WITH OUR EMPLOYEES DENVER • FILTRATION PLANT AND DRY STACK EXPECTED TO BE ON BUDGET AND DELIVERED IN Q3 2021 - - July 27 , 2021 Gold Resource Corporation ( NYSE American : GORO ) ( the " Company " , " We " , " Our " or " GRC " ) earned net income of $ 1.3 million or earnings of $ 0.02 per share reflecting the adoption of the new Mexican labor reform , effective June 2021 , pursuant to which we onboarded all employees from the outsourced third - party provider to our wholly owned subsidiary , Don David Gold Mexico , resulting in a $ 1.9 million impact on net income . Revenues were strong at $ 30.8 million and were greater than both the same period in 2020 , which had an interruption in production due to COVID - 19 and the same period in 2019 , which was a more normal year of mining . Cash flow from operating activities was $ 9.3 million in the second quarter of 2021 bringing our cash at June 30 , 2021 to $ 30.5 million , an increase of $ 5.1 million for the first six months . The Company produced and sold 9,685 gold equivalent ounces , comprising 5,697 gold ounces and 270,321 silver ounces at an average price per ounce of $ 1,822 and $ 26.88 , respectively resulting in a total cash cost of $ 713 per ounce of gold equivalent and an all - in sustaining cost of $ 1,280 per ounce of gold equivalent . Allen Palmiere , President and CEO said " Our operations team continues to demonstrate their ability to be nimble and adaptive operators all while focusing on excellent environmental , social and governance practices . Notwithstanding an excellent work culture , there were two lost time incidents at the Don David Gold Mine during Q2 2021 , which were investigated , and measures were taken to reinforce adherence to safety protocols . While there were no serious injuries , accidents like these are unacceptable and the Company recognized the need to modify and reinforce the safety program . Accordingly , a series of programs are underway to improve the overall safety culture . Gold production in the second quarter was as expected while silver and base metal production were modestly behind forecast as the team continues to address challenging ground conditions . Accordingly , our all - in sustaining cost per ounce were higher than our guidance at $ 1280 per ounce of gold equivalent . Notwithstanding this we reinvested $ 11.2 million into exploration and infrastructure improvements at the Don David Gold Mine and ended the quarter with a cash balance of $ 30.5 million effective June 30 , 2021. " Mr. Palmiere went on to say , " Our strong free cash flow per share and dividend yield puts us among the top of our peer group which is not reflected in our share price . ”