Gold Resource
Corporation GORO (the "Company") announced today that Mr.
William (Bill) Reid, Chairman of the Company's Board of Directors,
will retire his post effective December 31, 2013. The Company's Vice
Chairman, Mr. Bill Conrad, was unanimously selected by the Board of
Directors to succeed Bill Reid as Chairman of the Board. Gold
Resource Corporation is a gold and silver producer with operations in
the southern state of Oaxaca, Mexico. The Company has returned over
$92 million to shareholders in monthly dividends since declaring
production July 1, 2010, and offers shareholders the option to
convert their cash dividends into physical gold and silver and take
delivery.
Mr. Bill Reid's retirement from the Board of Directors marks a major
milestone in his three decades-plus career in the mining industry.
The Company congratulates Mr. Reid on his retirement decision and
thanks him for his vision and his dedicated service since the
Company's inception. Mr. Reid, along with his brother David Reid, the
Company's former VP of Exploration who retired earlier this year,
worked tirelessly to create and build Gold Resource Corporation from
a start-up junior explorer into the gold and silver producer it has
become today.
Bill Conrad, the Company's longest tenured independent director,
having served since 2006, will take over the Chairman role for Gold
Resource Corporation. From 1990 until December 2012, Mr. Conrad
served as Vice-President of MCM Capital Management, Inc., a
privately-held financial and management consulting firm he
co-founded. Mr. Conrad also serves as a director of Synergy Resources
Corporation.
In connection with the retirement of Mr. Reid, the Board has
determined it will reduce the number of members to its current number
of four, with three of these four seats held by independent
directors, for the foreseeable future.
"I am very proud of Gold Resource Corporation and the team of
professionals we have put in place, and I believe the Company is
unique in its approach to the industry," stated Mr. Bill Reid. "I am
very pleased we built this Company from scratch into a precious metal
producer of gold and silver distributing meaningful dividends to its
shareholders. And, I am confident in the ability of Jason Reid, Bill
Conrad and our team to continue to build value for the shareholders
of Gold Resource."
"Bill Reid, along with his brother David Reid, sustained long careers
in this challenging mining business, surviving the difficult times
and prospering during good times of this cyclical industry," stated
Gold Resource Corporation's Chairman, Mr. Bill Conrad. "Bill has left
a legacy of multiple deposit discoveries and mine building to his
name. We wish Bill well as he turns to the next chapter in his life
and are pleased that he plans to consult for us as we search for and
evaluate potential future mining projects."
Gold Resource Corporation's CEO and President, Mr. Jason Reid stated,
"I would like to congratulate Mr. Conrad on his promotion to Chairman
of the Board and look forward to working with him in his new
capacity."
About GRC:
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
53,779,369 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.
Cautionary Statements:
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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: NewsManagement
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in