![]() ![]() Of that amount, $3.1 million was spent on new feasibility studies and permitting for the Back Forty Mine. The company reported a cash balance of $33 million after investing $15 million in capital improvements and exploration. ![]() His experience covers mining in South Africa, Central America, Guyana, and Brazil, as well as 10 years in China.Īccording to its second quarter 2022 financial report, Gold Resources had net sales of $37 million in gold, silver, zinc, copper, and lead from the Mexican mine. The president and CEO of GRC, Allen Palmiere, has spent more than 35 years working the financial and operational aspects of mining worldwide. Unlike Aquila, which specializes in the acquisition, exploration, and development of mineral properties, GRC is no amateur when it comes to mining the company owns the successful Don David Gold Mine in Oaxaca, Mexico. Further exploration found the presence of gold and silver. Drillers brought up rock containing substances that turned out to be zinc and copper. w as touched off in 1999 by a local landowner who was deepening the well at his retirement home. ![]() It’s estimated that the site contains 468,000 ounces of gold worth $259 million zinc deposits of 512 million pounds up to 86 million pounds of copper 6.26 million ounces of silver and 26 million pounds of lead. as a depository for fortunes in gold, silver, and other minerals. Since the last century, geologists have identified the ancient, mineral-rich Penokean Volcanic Belt in the U.P. While gold and silver are the flashy objects drawing the most attention at the mine, geologists believe there are also massive deposits of zinc, copper, and lead buried in the area. (GRC) in Denver, publicly traded as GORO on the New York Stock Exchange. In December 2021, Aquila completed the sale of the 1,000-acre Back Forty site for $24 million to Gold Resources Corp. ![]()
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