Gold Resource Corp (NYSE American: GORO) is a precious metals mining company that extracts and sells gold and silver as primary products from its Don David Gold Mine (DDGM) in Mexico. Revenue comes from selling gold and silver doré and base metal concentrates containing copper, lead, and zinc, with base metals treated as co-products. The company carries no hedging positions on metal production, leaving it fully exposed to spot price fluctuations. As of the 10-K filed March 18, 2026, GORO also holds the Back Forty Project, a development-stage property in Michigan, and the Rey exploration property in Mexico where surface drilling activities remain suspended pending community approvals. In January 2026, the company entered an arrangement agreement with Goldgroup to be acquired via reverse triangular merger, with the transaction expected to close in the second quarter of 2026. During FY2025, the company sold 23,125 gold equivalent ounces and reported total cash cost after co-product credits of $2,205 per gold equivalent ounce sold.

Revenue model

Transactional sales of gold and silver doré and polymetallic concentrates (copper, lead, zinc) produced at the Don David Gold Mine in Mexico. Base metal concentrate revenues are reported as part of total revenue but credited against cash costs. The company carries no hedging on metal prices.

Products and services

Gold and silver doré; polymetallic concentrates containing copper, lead, and zinc produced as co-products at the Don David Gold Mine. The company also holds the Back Forty Project (Michigan, development stage) and the Rey exploration property (Mexico, activities suspended).

Customers and end markets

Buyers of gold, silver, and base metal concentrates. The filing references annual and spot concentrate treatment and refining charge agreements negotiated with buyers, but does not name specific customers or disclose customer concentration data.

Value-chain role

Primary producer. The company mines, processes, and sells metals directly from its own concessions. Mineral rights in Mexico are held through Mexican subsidiary DDGM under exploitation concessions with 50-year terms granted under Article 27 of the Mexican Constitution.

Geographic exposure

Operations concentrated in Oaxaca, Mexico (Don David Gold Mine, operated through subsidiary DDGM) and a development-stage project in Michigan, United States (Back Forty Project). The Rey exploration property is also held in Mexico.

Source: SEC 10-K, filed 2026-03-18

Industry: Gold and Silver Ores Peers: Dakota Gold Corp Newmont Corporation Fortitude Gold Corp Vista Gold Corp Hycroft Mining Holding Corporation