2021 Form 10-K Financial Statement

#000155837022003309 Filed on March 10, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $125.2M $90.69M $90.69M
YoY Change 38.05% 273.48% -24.61%
Cost Of Revenue $88.45M $78.21M $78.21M
YoY Change 13.1% 362.78% -14.69%
Gross Profit $36.75M $12.49M $12.49M
YoY Change 194.28% 69.11% -56.39%
Gross Profit Margin 29.35% 13.77% 13.77%
Selling, General & Admin $7.775M $10.63M $10.63M
YoY Change -26.87% 250.2% 6.87%
% of Gross Profit 21.16% 85.14% 85.14%
Research & Development $4.886M $2.485M
YoY Change 96.62% -8.64%
% of Gross Profit 13.3% 19.9%
Depreciation & Amortization $16.10M $3.911M $17.60M
YoY Change -8.52% -15.78% -11.56%
% of Gross Profit 43.81% 31.32% 140.95%
Operating Expenses $12.66M $13.12M $13.12M
YoY Change -3.48% 415.2% 3.54%
Operating Profit $17.64M -$630.0K -$758.0K
YoY Change -2427.57% -113.02% -104.89%
Interest Expense -$3.437M $82.00K $82.00K
YoY Change -4291.46% -71.23% -81.28%
% of Operating Profit -19.48%
Other Income/Expense, Net -$1.020M $1.109M $1.188M
YoY Change -185.86% -606.39% -356.03%
Pretax Income -$6.369M -$758.0K -$7.196M
YoY Change -11.49% -115.49% 13.54%
Income Tax $9.615M $5.573M $5.573M
% Of Pretax Income
Net Earnings $8.028M $4.359M $4.359M
YoY Change 84.17% 2405.17% -25.26%
Net Earnings / Revenue 6.41% 4.81% 4.81%
Basic Earnings Per Share $0.11 $0.06
Diluted Earnings Per Share $0.11 $62.36K $0.06
COMMON SHARES
Basic Shares Outstanding 75.30M 71.87M 69.90M
Diluted Shares Outstanding 75.61M 70.69M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.71M $25.41M $25.41M
YoY Change 32.7% 148.82% 148.82%
Cash & Equivalents $33.71M $25.41M $25.41M
Short-Term Investments
Other Short-Term Assets $6.150M $647.0K $2.401M
YoY Change 156.14% 88.63% -86.55%
Inventory $10.36M $9.995M $9.995M
Prepaid Expenses
Receivables $8.672M $4.226M $4.226M
Other Receivables $20.00K $846.0K $846.0K
Total Short-Term Assets $58.92M $42.87M $42.87M
YoY Change 37.42% -15.87% -15.87%
LONG-TERM ASSETS
Property, Plant & Equipment $156.8M $62.51M $62.51M
YoY Change 150.79% -4.19% -4.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $76.00K $41.00K $350.0K
YoY Change -78.29% -8.89% -99.54%
Total Long-Term Assets $156.8M $62.86M $62.86M
YoY Change 149.51% -55.75% -55.75%
TOTAL ASSETS
Total Short-Term Assets $58.92M $42.87M $42.87M
Total Long-Term Assets $156.8M $62.86M $62.86M
Total Assets $215.8M $105.7M $105.7M
YoY Change 104.06% -45.22% -45.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.31M $8.782M $8.782M
YoY Change 51.54% -2.96% -2.96%
Accrued Expenses $3.631M $2.275M $1.796M
YoY Change 102.17% -26.66% -29.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.66M $12.09M $12.09M
YoY Change 145.42% -56.81% -56.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $52.23M $13.00K $3.111M
YoY Change 1578.78% -99.81% -55.39%
Total Long-Term Liabilities $52.23M $3.111M $3.111M
YoY Change 1578.78% -55.39% -55.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.66M $12.09M $12.09M
Total Long-Term Liabilities $52.23M $3.111M $3.111M
Total Liabilities $95.01M $15.20M $15.20M
YoY Change 525.24% -56.53% -56.53%
SHAREHOLDERS EQUITY
Retained Earnings $12.65M
YoY Change -25.02%
Common Stock $75.00K
YoY Change 13.64%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.884M
YoY Change 0.0%
Treasury Stock Shares $336.4K
Shareholders Equity $120.8M $90.54M $90.54M
YoY Change
Total Liabilities & Shareholders Equity $215.8M $105.7M $105.7M
YoY Change 104.06% -45.22% -45.22%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $8.028M $4.359M $4.359M
YoY Change 84.17% 2405.17% -25.26%
Depreciation, Depletion And Amortization $16.10M $3.911M $17.60M
YoY Change -8.52% -15.78% -11.56%
Cash From Operating Activities $34.78M $18.11M $35.40M
YoY Change -1.73% 32.81% 65.35%
INVESTING ACTIVITIES
Capital Expenditures $20.61M -$6.265M $12.81M
YoY Change 60.88% -151.23% -24.36%
Acquisitions $2.363M
YoY Change
Other Investing Activities -$2.363M $4.593M -$1.642M
YoY Change 43.91% -120.38% -92.71%
Cash From Investing Activities -$22.97M -$1.672M -$14.45M
YoY Change 58.95% -83.78% -63.38%
FINANCING ACTIVITIES
Cash Dividend Paid $3.400M $2.800M
YoY Change 21.43%
Common Stock Issuance & Retirement, Net $25.80M
YoY Change 5.51%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.063M -14.21M -5.221M
YoY Change -41.33% 757.06% -124.82%
NET CHANGE
Cash From Operating Activities 34.78M 18.11M 35.40M
Cash From Investing Activities -22.97M -1.672M -14.45M
Cash From Financing Activities -3.063M -14.21M -5.221M
Net Change In Cash 8.307M 2.229M 15.20M
YoY Change -45.33% 33.39% 503.69%
FREE CASH FLOW
Cash From Operating Activities $34.78M $18.11M $35.40M
Capital Expenditures $20.61M -$6.265M $12.81M
Free Cash Flow $14.17M $24.38M $22.59M
YoY Change -37.25% 1632.48% 405.17%

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CY2020 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
10690000
CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
300000
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
8028000
CY2020 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-6331000
CY2019 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5532000
CY2021 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-2216000
CY2020 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
3508000
CY2019 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
3857000
CY2019 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-305000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16147000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17601000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
19917000
CY2021 goro Share Based Compensation And Restructuring Expense
ShareBasedCompensationAndRestructuringExpense
877000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
2230000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
1932000
CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2709000
CY2020 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
404000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4446000
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4136000
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6618000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
708000
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1036000
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1976000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
267000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
405000
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1097000
CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
8000
CY2020 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-4000
CY2019 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
5930000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-588000
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
175000
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
8737000
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
426000
CY2019 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-106000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
34783000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
21213000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
24112000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20610000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12811000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16936000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2363000
CY2020 goro Proceeds From Sale Of Gold And Silver Bullion Or Rounds
ProceedsFromSaleOfGoldAndSilverBullionOrRounds
4846000
CY2019 goro Proceeds From Sale Of Gold And Silver Bullion Or Rounds
ProceedsFromSaleOfGoldAndSilverBullionOrRounds
2000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22973000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-7965000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-16934000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
98000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25795000
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
24449000
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3366000
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2790000
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1491000
CY2020 goro Cash Transferred In Spin Off Transaction
CashTransferredInSpinOffTransaction
27774000
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
3000
CY2020 goro Proceeds From Payments For Other Financing Activities Discontinued Operations
ProceedsFromPaymentsForOtherFinancingActivitiesDiscontinuedOperations
-452000
CY2019 goro Proceeds From Payments For Other Financing Activities Discontinued Operations
ProceedsFromPaymentsForOtherFinancingActivitiesDiscontinuedOperations
-2019000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3063000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5221000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21037000
CY2021 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-440000
CY2020 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-528000
CY2019 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-455000
CY2020 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
14184000
CY2019 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-2705000
CY2020 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-6488000
CY2019 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-22538000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8307000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15195000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2517000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25405000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10210000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7693000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33712000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25405000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10210000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
20000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
18000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
4939000
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
2734000
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
3743000
CY2021 goro Increase Decrease In Accrued Capital Expenditures
IncreaseDecreaseInAccruedCapitalExpenditures
684000
CY2020 goro Increase Decrease In Accrued Capital Expenditures
IncreaseDecreaseInAccruedCapitalExpenditures
-643000
CY2019 goro Increase Decrease In Accrued Capital Expenditures
IncreaseDecreaseInAccruedCapitalExpenditures
624000
CY2021 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
7000
CY2020 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
82000
CY2019 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
443000
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.5pt;margin:0pt;"><i style="font-style:italic;background:#ffffff;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;text-indent:27pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:27pt;margin:0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The more significant areas requiring the use of management estimates and assumptions relate to Mineral Resources and Mineral Reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production depreciation calculations; asset and liability valuation related to acquisitions; accounting for asset acquisitions; future metal prices, especially as it relates to zinc zero cost collar; environmental remediation, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpiles; write-downs of inventory, stockpiles to net realizable value; valuation allowances for deferred tax assets and liabilities; valuation of contingent considerations and gold and silver stream agreements, provisional amounts related to income tax effects of newly enacted tax laws; and stock-based compensation. Management routinely makes judgments and estimates about the effects of matters that are inherently uncertain and bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances. Actual results could differ from these estimates. </p>
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:27pt;margin:0pt;"><i style="font-style:italic;">Reclassifications</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;text-indent:27pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:27pt;margin:0pt;">Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. Starting 2020, the Company showed Stock-based compensation as a separate line item in the Consolidated Statements of Operations. In 2019, Stock-based compensation was included with General and administrative expenses. The reclassifications had no material effect on the Company’s results of operations or financial condition. </p>
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021 goro Concentrate Sale Percentage Based On Provisional Sales Price
ConcentrateSalePercentageBasedOnProvisionalSalesPrice
1
CY2021 goro Awards Earned Over Period
AwardsEarnedOverPeriod
P3Y
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:27pt;margin:0pt;"><i style="font-style:italic;">Concentration of Credit Risk </i></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;text-indent:27pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:27pt;margin:0pt;">The Company has considered and assessed the credit risk resulting from its concentrate sales and doré sales arrangements with its customers. In the event that the Company’s relationships with its customers are interrupted for any reason, the Company believes that it would be able to locate another entity to purchase its metals concentrates and doré bars; however, any interruption could temporarily disrupt the Company’s sale of its products and materially adversely affect operating results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.5pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:27pt;margin:0pt;">The Company’s Arista and Alta Gracia mines, which are located in the State of Oaxaca, Mexico, accounted for 100%of the Company’s total net sales from continuing operations for the years ended December 31, 2021, 2020 and 2019, respectively. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.5pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:27pt;margin:0pt;">Some of the Company’s operating cash balances are maintained in accounts that currently exceed federally insured limits. The Company believes that the financial strength of the depositing institutions mitigates the underlying risk of loss. To date, these concentrations of credit risk have not had a significant impact on the Company’s financial position or results of operations. </p>
CY2021 goro Realized Gain Or Loss Embedded Derivative Net
RealizedGainOrLossEmbeddedDerivativeNet
777000
CY2020 goro Realized Gain Or Loss Embedded Derivative Net
RealizedGainOrLossEmbeddedDerivativeNet
138000
CY2019 goro Realized Gain Or Loss Embedded Derivative Net
RealizedGainOrLossEmbeddedDerivativeNet
1423000
CY2021 goro Unrealized Gain Or Loss Embedded Derivative Net
UnrealizedGainOrLossEmbeddedDerivativeNet
225000
CY2020 goro Unrealized Gain Or Loss Embedded Derivative Net
UnrealizedGainOrLossEmbeddedDerivativeNet
-185000
CY2019 goro Unrealized Gain Or Loss Embedded Derivative Net
UnrealizedGainOrLossEmbeddedDerivativeNet
291000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125196000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90692000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120301000
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
589000
CY2020Q4 us-gaap Short Term Investments
ShortTermInvestments
671000
CY2020Q4 goro Ore Stockpiles Underground Mine
OreStockpilesUndergroundMine
648000
CY2020Q4 goro Ore Stockpiles Open Pit Mine
OreStockpilesOpenPitMine
41000
CY2021Q4 goro Inventory Concentrates
InventoryConcentrates
2048000
CY2020Q4 goro Inventory Concentrates
InventoryConcentrates
1919000
CY2021Q4 goro Inventory Dore
InventoryDore
452000
CY2020Q4 goro Inventory Dore
InventoryDore
459000
CY2021Q4 goro Product Inventory
ProductInventory
2500000
CY2020Q4 goro Product Inventory
ProductInventory
3067000
CY2021Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
7861000
CY2020Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
6928000
CY2021Q4 us-gaap Inventory Net
InventoryNet
10361000
CY2020Q4 us-gaap Inventory Net
InventoryNet
9995000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-6369000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-7196000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-6338000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
24012000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
6438000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
21837000
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
17643000
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
-758000
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
15499000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
305000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
11426000
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3294000
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
6210000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
11731000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3294000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6210000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2999000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1881000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2116000
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-720000
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
1876000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2116000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2279000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3757000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9615000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5573000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9967000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3705000
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-159000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3255000
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
2095000
CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
558000
CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1969000
CY2020 goro Effective Income Tax Rate Reconciliation Global Intangible Low Tax Income Amount
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxIncomeAmount
-886000
CY2019 goro Effective Income Tax Rate Reconciliation Global Intangible Low Tax Income Amount
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxIncomeAmount
2173000
CY2021 goro Change In Deferred Tax Assets
ChangeInDeferredTaxAssets
-1189000
CY2020 goro Change In Deferred Tax Assets
ChangeInDeferredTaxAssets
3919000
CY2019 goro Change In Deferred Tax Assets
ChangeInDeferredTaxAssets
277000
CY2021 goro Mexico Mining Tax
MexicoMiningTax
1590000
CY2020 goro Mexico Mining Tax
MexicoMiningTax
280000
CY2019 goro Mexico Mining Tax
MexicoMiningTax
1126000
CY2021 goro Income Tax Reconciliation Impact Of Foreign Currency Loss Gain
IncomeTaxReconciliationImpactOfForeignCurrencyLossGain
535000
CY2020 goro Income Tax Reconciliation Impact Of Foreign Currency Loss Gain
IncomeTaxReconciliationImpactOfForeignCurrencyLossGain
866000
CY2019 goro Income Tax Reconciliation Impact Of Foreign Currency Loss Gain
IncomeTaxReconciliationImpactOfForeignCurrencyLossGain
255000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
2471000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
449000
CY2019 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
361000
CY2021 goro Effective Income Tax Rate Reconciliation Mexico Withholding Tax Amount
EffectiveIncomeTaxRateReconciliationMexicoWithholdingTaxAmount
679000
CY2020 goro Effective Income Tax Rate Reconciliation Mexico Withholding Tax Amount
EffectiveIncomeTaxRateReconciliationMexicoWithholdingTaxAmount
192000
CY2019 goro Effective Income Tax Rate Reconciliation Mexico Withholding Tax Amount
EffectiveIncomeTaxRateReconciliationMexicoWithholdingTaxAmount
374000
CY2021 goro Effective Income Tax Rate Reconciliation Inflation In Mexico Amount
EffectiveIncomeTaxRateReconciliationInflationInMexicoAmount
-981000
CY2020 goro Effective Income Tax Rate Reconciliation Inflation In Mexico Amount
EffectiveIncomeTaxRateReconciliationInflationInMexicoAmount
-550000
CY2019 goro Effective Income Tax Rate Reconciliation Inflation In Mexico Amount
EffectiveIncomeTaxRateReconciliationInflationInMexicoAmount
-338000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
585000
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
127000
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
139000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
125000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
777000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
376000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9615000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5573000
CY2021Q4 goro Deferred Tax Assets Employee Profit Sharing Obligation
DeferredTaxAssetsEmployeeProfitSharingObligation
566000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
29496000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
2190000
CY2021Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
608000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9967000
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
12092000
CY2020Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
10355000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1068000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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4018000
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CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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200000
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300000
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671000
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885000
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390000
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CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2020 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2019 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2200000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4200000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3600000
CY2021 goro Average Share Price
AverageSharePrice
10.69
CY2020 goro Average Share Price
AverageSharePrice
8.95
CY2019 goro Average Share Price
AverageSharePrice
10.44
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
8028000
CY2020 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2019 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2020 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
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CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
300000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
8028000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
4359000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
5832000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75301253
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69902708
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.11
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IncomeLossFromContinuingOperationsPerBasicShare
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CY2019 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2020 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.15
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2021 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
777000
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
225000
CY2021 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
1002000
CY2020 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
137000
CY2020 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-184000
CY2020 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
-47000
CY2019 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1423000
CY2019 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
291000
CY2019 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
1714000
CY2021 goro Unrealized Gain Loss On Gold And Silver Rounds Bullion
UnrealizedGainLossOnGoldAndSilverRoundsBullion
-53000
CY2020 goro Unrealized Gain Loss On Gold And Silver Rounds Bullion
UnrealizedGainLossOnGoldAndSilverRoundsBullion
170000
CY2019 goro Unrealized Gain Loss On Gold And Silver Rounds Bullion
UnrealizedGainLossOnGoldAndSilverRoundsBullion
671000
CY2021 goro Realized Gain On Gold And Silver Rounds Or Bullion
RealizedGainOnGoldAndSilverRoundsOrBullion
-2000
CY2020 goro Realized Gain On Gold And Silver Rounds Or Bullion
RealizedGainOnGoldAndSilverRoundsOrBullion
1003000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-493000
CY2020 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-105000
CY2019 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
19000
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-37000
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-3000
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-12000
CY2021 goro Increase Decrease In Reserve For Inventory Obsolescence
IncreaseDecreaseInReserveForInventoryObsolescence
175000
CY2020 goro Increase Decrease In Reserve For Inventory Obsolescence
IncreaseDecreaseInReserveForInventoryObsolescence
-148000
CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2020 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
404000
CY2019 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-305000
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2021Q4 us-gaap Assets Current
AssetsCurrent
58915000
CY2021Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
156847000
CY2021Q4 us-gaap Assets
Assets
215762000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
29659000
CY2021Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
65353000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
120750000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
215762000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
42873000
CY2020Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
62861000
CY2020Q4 us-gaap Assets
Assets
105734000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
12085000
CY2020Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
3111000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
90538000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
105734000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125196000
CY2021 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
88449000
CY2021 goro Mining Exploration Expense
MiningExplorationExpense
4886000
CY2021 goro Costs And Expenses Excluding Exploration Expense
CostsAndExpensesExcludingExplorationExpense
14218000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9615000
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
8028000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90692000
CY2020 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
78205000
CY2020 goro Mining Exploration Expense
MiningExplorationExpense
2485000
CY2020 goro Costs And Expenses Excluding Exploration Expense
CostsAndExpensesExcludingExplorationExpense
10760000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5573000
CY2020 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-6331000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120301000
CY2019 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
91669000
CY2019 goro Mining Exploration Expense
MiningExplorationExpense
2720000
CY2019 goro Costs And Expenses Excluding Exploration Expense
CostsAndExpensesExcludingExplorationExpense
10413000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9967000
CY2019 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5532000
CY2021 goro Covid19 Specific Costs
Covid19SpecificCosts
200000

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