Date: Friday, March 27, 2012
Time: 11:00AM EDT (9:00 AM Mountain)
Attendee Access Information:
Title: Gold Resource Corporation's Preliminary Independent Resource Estimate
Host Name: William W. Reid
Company Name: Gold Resource Corporation
US/CAN Toll free: 888-205-6786
Int'l Toll: 913-312-1387
Please dial-in to the meeting at least 5 minutes prior to the start time using the attendee phone number and passcode.
**Please note that a resource estimate report prepared in accordance with the requirements set forth in NI 43-101 uses standards that are materially different from the standards generally permitted in reports filed with the U.S. SEC.
The terms "mineral resource", "proven mineral reserve" and "probable mineral reserve" used in a technical report based on NI 43-101 are Canadian mining terms defined in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") in the CIM Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as the same may be amended from time to time by the CIM. These definitions differ from the definitions of those terms in Guide 7 promulgated by the SEC. Under U.S. standards, mineralization may not be classified as a "reserve" unless a determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Under Guide 7 standards, a "Final" or "Bankable" feasibility study is required to report reserves, the three-year historical average precious metals prices are used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate government authority. One consequence of these differences is that "reserves" calculated in accordance with Canadian standards may not be "reserves" under Guide 7 standards. U.S. investors should be aware that Gold Resource Corporation has not conducted a feasibility study for any of its properties located in the Mexico and as such, the properties do not have "reserves" as defined by Guide 7. U.S. investors are cautioned not to assume that any part or all of the disclosed mineralized material will be confirmed or converted into Guide 7 compliant "reserves" and are urged to consider closely the disclosure in our Form 10-K. You can review and obtain copies of these filings from the SEC website at http://www.sec.gov/edgar.shtml.
A report prepared in accordance with NI 43-101 will state measured, indicated and inferred resources, which are measurements that are generally not permitted in filings made with the SEC. The estimation of measured resources and indicated resources involve greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. It cannot be assumed that all or any part of inferred resources will ever be upgraded to a higher category. Therefore, U.S. investors are also cautioned not to assume that all or any part of inferred resources exist, or that they can be mined legally or economically.
The SEC only permits issuers to report "mineralized material" in tonnage and average grade without reference to contained ounces. Under U.S. regulations, the tonnage and average grade described by us would be characterized as mineralized material. We provide such disclosure about our exploration properties to allow a means of comparing our projects to those of other companies in the mining industry, many of which are Canadian and report pursuant to NI 43-101.
We also caution that drilling results are not indicative of mineralized material in other areas where we have mining interests. Furthermore, mineralized material identified on our properties does not and may never have demonstrated economic or legal viability.
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 52,902,620 shares outstanding, no warrants and no debt. Gold Resource Corporation is the only Company to offer its shareholders a dividend option to obtain physical gold or silver in addition to cash. 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.
Most Popular Stories
- Social Media Campaign Increases Organ Donor Registrations
- Airport Garners Social Media Award
- What Will Happen When Quantitative Easing Ends?
- MillerCoors Taps New Hispanic Ad Agency
- Aetna Leaving California's Individual Health Insurance Market
- Immigration Reform Would Decrease U.S. Budget Deficit
- Calories Count: Starbucks to Post the Numbers on Menu Boards
- Honda Says Sorry About the Lack of Electric Fits
- Patriots' Aaron Hernandez Questioned in Slaying
- Tea Party Wants to 'Audit the IRS'