COLORADO SPRINGS, CO -- (Marketwired) -- 07/12/13 -- Gold Resource Corporation (NYSE MKT: GORO) (the "Company") announces today it has received a copy of a Form 144 filed with the U.S. Securities and Exchange Commission indicating the sale of 3.4 million shares of common restricted stock by its largest shareholder. The Company has returned over $85 million to shareholders in monthly dividends since declaring commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The Form 144 was filed by Hochschild Mining Holdings Ltd. and indicates a sale of approximately 3.4 million shares of the Company's common stock in accordance with the Rule 144 of the Securities Act of 1933, as amended. Generally, Rule 144 allows holders of restricted securities to sell shares in the market after a certain holding period and so long as the requirements of the rule are met. Certain shareholders, including those holding more than 10% of the Company's outstanding shares, are subject to further volume limitations which restrict the number shares that can be sold in the market every three months, which is the greater of 1% of the outstanding shares or the average weekly trading volume of the securities during the four-week period prior to the sale. Pursuant to these volume limitations provided by Rule 144, the Company believes Hochschild's sale of 3.4 million shares is near the maximum number of shares eligible for sale in the market for this 90 day period.
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 53,279,369 shares outstanding, no warrants and no debt. Gold Resource Corporation offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's 10-K filed with the SEC.
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