10-Q Filing

GOLD RESOURCE CORP CIK: 1160791 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-005593`
Period End Date	20170630
Filing Date	20170801
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	goro-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 65 Cash Flow Statement 63 Stockholders Equity 23

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.26M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.57M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.84M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.41M	USD	Point-in-time
Gold and silver rounds/bullion	`ShortTermInvestments`	$3.64M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	336,398.00	shares	Point-in-time
Gold and silver rounds/bullion	`ShortTermInvestments`	$3.31M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	336,398.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$630.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.28M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.95M	USD	Point-in-time
Inventories, net	`InventoryNet`	$9.99M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$475.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$626.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.59M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.26M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$70.06M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$79.50M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNet`	$17.58M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNet`	$16.41M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$947.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.54M	USD	Point-in-time
Total assets	`Assets`	$118.44M	USD	Point-in-time
Total assets	`Assets`	$130.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.80M	USD	Point-in-time
Mining royalty taxes payable	`MiningRoyaltyTaxesPayable`	$977.00K	USD	Point-in-time
Mining royalty taxes payable	`MiningRoyaltyTaxesPayable`	$2.03M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.24M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.02M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$2.81M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$2.42M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$10.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$17.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.37M	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 56,839,823 and 56,566,874 shares outstanding at June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 56,839,823 and 56,566,874 shares outstanding at June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$112.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$113.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.04M	USD	Point-in-time
Treasury stock at cost, 336,398 shares	`TreasuryStockValue`	$5.88M	USD	Point-in-time
Treasury stock at cost, 336,398 shares	`TreasuryStockValue`	$5.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.17M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.17M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$88.82M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$112.90M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$107.08M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$130.74M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$118.44M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`SalesRevenueGoodsNet`	$45.73M	USD	2 Qtrs
Sales, net	`SalesRevenueGoodsNet`	$21.39M	USD	1 Quarter
Sales, net	`SalesRevenueGoodsNet`	$43.60M	USD	2 Qtrs
Sales, net	`SalesRevenueGoodsNet`	$26.20M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$10.71M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$23.51M	USD	2 Qtrs
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$12.18M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$21.80M	USD	2 Qtrs
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$3.95M	USD	1 Quarter
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$5.86M	USD	2 Qtrs
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$3.05M	USD	1 Quarter
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$6.51M	USD	2 Qtrs
Reclamation and remediation	`ReclamationAndRemediation`	$44.00K	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$64.00K	USD	2 Qtrs
Reclamation and remediation	`ReclamationAndRemediation`	$91.00K	USD	2 Qtrs
Reclamation and remediation	`ReclamationAndRemediation`	$35.00K	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsSold`	$27.75M	USD	2 Qtrs
Total mine cost of sales	`CostOfGoodsSold`	$16.16M	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsSold`	$30.09M	USD	2 Qtrs
Total mine cost of sales	`CostOfGoodsSold`	$13.80M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$12.39M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$15.64M	USD	2 Qtrs
Mine gross profit	`GrossProfit`	$5.23M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$15.85M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.85M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.49M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.68M	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$1.14M	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$1.96M	USD	2 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$642.00K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$1.15M	USD	2 Qtrs
Other (expense) income, net	`NonoperatingIncomeExpense`	$1.24M	USD	2 Qtrs
Other (expense) income, net	`NonoperatingIncomeExpense`	$538.00K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$-609.00K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$-1.07M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.75M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$1.77M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.52M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.42M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$9.12M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$12.10M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.81M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.62M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.88M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.01M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$942.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.69M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.41M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Net income	`NetIncomeLoss`	$5.24M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$864.00K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.09	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.10	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.12	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	56.84M	shares	1 Quarter
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	56.82M	shares	2 Qtrs
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	54.27M	shares	2 Qtrs
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	54.27M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.74M	shares	2 Qtrs
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.38M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.67M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.37M	shares	2 Qtrs

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.41M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Net income	`NetIncomeLoss`	$5.24M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$864.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.10M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.62M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.73M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.03M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$183.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$67.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$383.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$486.00K	USD	2 Qtrs
Other operating adjustments	`OtherNoncashIncomeExpense`	$-148.00K	USD	2 Qtrs
Other operating adjustments	`OtherNoncashIncomeExpense`	$713.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.72M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$646.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.05M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.40M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.09M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-122.00K	USD	2 Qtrs
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-1.57M	USD	2 Qtrs
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$2.32M	USD	2 Qtrs
Mining and income taxes payable/receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.32M	USD	2 Qtrs
Mining and income taxes payable/receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.26M	USD	2 Qtrs
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-25.00K	USD	2 Qtrs
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-41.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.02M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.55M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.82M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.28M	USD	2 Qtrs
Proceeds from the sale of equity investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$324.00K	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-3.00K	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$187.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.01M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.95M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$568.00K	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$543.00K	USD	2 Qtrs
Repayments of capital leases	`RepaymentsOfDebtAndCapitalLeaseObligations`	$606.00K	USD	2 Qtrs
Repayments of capital leases	`RepaymentsOfDebtAndCapitalLeaseObligations`	$1.00K	USD	2 Qtrs
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-569.00K	USD	2 Qtrs
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.15M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-201.00K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-10.00K	USD	2 Qtrs
Net (decrease) increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$442.00K	USD	2 Qtrs
Net (decrease) increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.24M	USD	2 Qtrs
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.26M	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.82M	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.41M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.26M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.82M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.41M	USD	Point-in-time
Income and mining taxes paid	`IncomeTaxesPaid`	$256.00K	USD	2 Qtrs
Income and mining taxes paid	`IncomeTaxesPaid`	$2.37M	USD	2 Qtrs
Increase (decrease) in accrued capital expenditures	`IncreaseDecreaseInAccruedCapitalExpenditures`	$4.33M	USD	2 Qtrs
Increase (decrease) in accrued capital expenditures	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-2.77M	USD	2 Qtrs
Equipment purchased under capital lease	`EquipmentPurchasedUnderCapitalLease`	$300.00K	USD	2 Qtrs
Equipment purchased under capital lease	`EquipmentPurchasedUnderCapitalLease`	$21.00K	USD	2 Qtrs
Common stock issued for the acquisition	`CommonStockIssuedForAcquisition`	$1.30M	USD	2 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$88.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$112.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$107.08M	USD	Point-in-time
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$391.00K	USD	Annual
Adjustment to retained earnings as a result of adoption of ASU 2016-16	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$-533.00K	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$383.00K	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.24M	USD	Annual
Acquisitions	`StockIssuedDuringPeriodValueAcquisitions`	$13.91M	USD	Annual
Acquisitions	`StockIssuedDuringPeriodValueAcquisitions`	$1.30M	USD	2 Qtrs
Dividends declared	`Dividends`	$568.00K	USD	2 Qtrs
Dividends declared	`Dividends`	$1.67M	USD	Annual
Net income	`NetIncomeLoss`	$6.41M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Net income	`NetIncomeLoss`	$5.24M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$864.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$88.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$112.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$107.08M	USD	Point-in-time
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.