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Gold Resource (GORO) investor relations material
Gold Resource Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operational turnaround at the Mexico mine is underway, with new equipment, contractor engagement, and mining method changes driving improved production and higher ore grades, especially in the Three Sisters area.
Record-high gold and silver prices, along with higher ore grades, are supporting improved financial performance, though year-to-date output and grades (except silver) remain lower than 2024.
Safety incidents prompted a comprehensive external safety audit and risk assessment at Don David Gold Mine.
Alta Gracia mine commissioning preparations began, with targeted start in early Q1 2026.
Net loss for Q3 2025 was $4.7 million ($0.03/share), mainly due to lower tonnes produced and ounces sold, though losses narrowed from the prior year.
Financial highlights
Q3 2025 net sales were $24.9 million, up 87% year-over-year, driven by higher gold and silver prices and lower treatment/refining charges.
Ended Q3 2025 with $9.8 million in cash and $12.8 million in working capital.
Total cash cost per gold equivalent ounce was $2,116 in Q3 2025; all-in sustaining cost was $2,983/oz.
Mine gross profit for Q3 2025 was $6.2 million, compared to a gross loss of $8.7 million in Q3 2024.
Year-to-date net loss was $24.5 million, improved from $45.4 million loss in 2024.
Outlook and guidance
Three Sisters is expected to contribute 40–50% of total production in 2026, with at least 40% by Q1 and higher by Q2.
Management anticipates continued operational and financial improvements through year-end and into 2026, with positive operating income expected for the remainder of 2025.
Ongoing development and infill drilling at Three Sisters and Arista aim to optimize near-term production.
Alta Gracia mine commissioning targeted for early Q1 2026.
Bat 40 project feasibility and permitting to commence soon, enabled by improved cash flow.
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