10-Q Filing

GOLD RESOURCE CORP CIK: 1160791 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-007812`
Period End Date	20170930
Filing Date	20171031
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	goro-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 69 Cash Flow Statement 67 Stockholders Equity 23

Balance Sheet 61 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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.57M	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`	$17.07M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.89M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.83M	USD	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
Treasury stock, shares	`TreasuryStockShares`	336,398.00	shares	Point-in-time
Gold and silver rounds/bullion	`ShortTermInvestments`	$3.83M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.66M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$630.00K	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.95M	USD	Point-in-time
Inventories, net	`InventoryNet`	$9.89M	USD	Point-in-time
Income tax receivable, net	`IncomeTaxesReceivable`	$1.02M	USD	Point-in-time
Income tax receivable, net	`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`	$1.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.06M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$79.45M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$70.06M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNet`	$18.64M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNet`	$17.58M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.54M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$945.00K	USD	Point-in-time
Total assets	`Assets`	$118.44M	USD	Point-in-time
Total assets	`Assets`	$135.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.38M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$562.00K	USD	Point-in-time
Mining royalty taxes payable	`MiningRoyaltyTaxesPayable`	$2.03M	USD	Point-in-time
Mining royalty taxes payable	`MiningRoyaltyTaxesPayable`	$1.22M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.53M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.94M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$2.79M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$2.42M	USD	Point-in-time
Loan payable, long-term	`LongTermLoansPayable`	$1.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.41M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.37M	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 56,891,484 and 56,566,874 shares outstanding at September 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: 56,891,484 and 56,566,874 shares outstanding at September 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`	$114.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.48M	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`	$117.69M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$107.08M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$88.82M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$118.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$135.10M	USD	Point-in-time

Income Statement 69 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`SalesRevenueGoodsNet`	$64.97M	USD	3 Qtrs
Sales, net	`SalesRevenueGoodsNet`	$76.85M	USD	3 Qtrs
Sales, net	`SalesRevenueGoodsNet`	$21.37M	USD	1 Quarter
Sales, net	`SalesRevenueGoodsNet`	$31.12M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$12.77M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$16.12M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$34.57M	USD	3 Qtrs
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$39.63M	USD	3 Qtrs
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$3.76M	USD	1 Quarter
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$9.05M	USD	3 Qtrs
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$3.19M	USD	1 Quarter
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$10.27M	USD	3 Qtrs
Reclamation and remediation	`ReclamationAndRemediation`	$139.00K	USD	3 Qtrs
Reclamation and remediation	`ReclamationAndRemediation`	$37.00K	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$101.00K	USD	3 Qtrs
Reclamation and remediation	`ReclamationAndRemediation`	$48.00K	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsSold`	$43.76M	USD	3 Qtrs
Total mine cost of sales	`CostOfGoodsSold`	$19.92M	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsSold`	$16.00M	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsSold`	$50.01M	USD	3 Qtrs
Mine gross profit	`GrossProfit`	$11.20M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$21.21M	USD	3 Qtrs
Mine gross profit	`GrossProfit`	$5.36M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$26.84M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.44M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.03M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.88M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.95M	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$1.46M	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$2.03M	USD	3 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$881.00K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$3.42M	USD	3 Qtrs
Other expense (income), net	`NonoperatingIncomeExpense`	$-74.00K	USD	1 Quarter
Other expense (income), net	`NonoperatingIncomeExpense`	$-110.00K	USD	1 Quarter
Other expense (income), net	`NonoperatingIncomeExpense`	$1.17M	USD	3 Qtrs
Other expense (income), net	`NonoperatingIncomeExpense`	$-1.18M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.52M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$10.04M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$2.98M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.73M	USD	3 Qtrs
Income before income taxes	`OperatingIncomeLoss`	$7.68M	USD	1 Quarter
Income before income taxes	`OperatingIncomeLoss`	$16.81M	USD	3 Qtrs
Income before income taxes	`OperatingIncomeLoss`	$2.38M	USD	1 Quarter
Income before income taxes	`OperatingIncomeLoss`	$14.48M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$787.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.48M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.99M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$9.82M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Net income	`NetIncomeLoss`	$8.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.58M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.15	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.17	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.17	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.14	USD	3 Qtrs
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	55.78M	shares	1 Quarter
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	54.99M	shares	3 Qtrs
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	56.89M	shares	1 Quarter
Basic weighted average shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	56.84M	shares	3 Qtrs
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.59M	shares	3 Qtrs
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.46M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.62M	shares	3 Qtrs
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.60M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.82M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Net income	`NetIncomeLoss`	$8.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.58M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$250.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$3.03M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.60M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.34M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$494.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$997.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$877.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$511.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$531.00K	USD	3 Qtrs
Other operating adjustments	`OtherNoncashIncomeExpense`	$-392.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.03M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.09M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$945.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$657.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.20M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-958.00K	USD	3 Qtrs
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-2.77M	USD	3 Qtrs
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$3.32M	USD	3 Qtrs
Mining and income taxes payable/receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.56M	USD	3 Qtrs
Mining and income taxes payable/receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.69M	USD	3 Qtrs
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-36.00K	USD	3 Qtrs
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-64.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.50M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.49M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.38M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.64M	USD	3 Qtrs
Proceeds from the sale of equity investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$749.00K	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$315.00K	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$265.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.65M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.20M	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$391.00K	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$852.00K	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$818.00K	USD	3 Qtrs
Repayment of loan payable	`RepaymentsOfDebt`	$46.00K	USD	3 Qtrs
Repayments of capital leases	`RepaymentsCapitalLeaseObligations`	$21.00K	USD	3 Qtrs
Repayments of capital leases	`RepaymentsCapitalLeaseObligations`	$606.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-919.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.03M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-13.00K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-271.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.67M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.24M	USD	3 Qtrs
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`	$17.07M	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.83M	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`	$17.07M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.83M	USD	Point-in-time
Income and mining taxes paid	`IncomeTaxesPaid`	$2.76M	USD	3 Qtrs
Income and mining taxes paid	`IncomeTaxesPaid`	$256.00K	USD	3 Qtrs
Increase (decrease) in accrued capital expenditures	`IncreaseDecreaseInAccruedCapitalExpenditures`	$510.00K	USD	3 Qtrs
Increase (decrease) in accrued capital expenditures	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-2.76M	USD	3 Qtrs
Equipment purchased through loan payable	`EquipmentPurchasedThroughLoanPayable`	$2.40M	USD	3 Qtrs
Equipment purchased under capital lease	`EquipmentPurchasedUnderCapitalLease`	$300.00K	USD	3 Qtrs
Equipment purchased under capital lease	`EquipmentPurchasedUnderCapitalLease`	$21.00K	USD	3 Qtrs
Common stock issued for the acquisition of mineral rights	`CommonStockIssuedForAcquisition`	$1.30M	USD	3 Qtrs
Common stock issued for the acquisition of mineral rights	`CommonStockIssuedForAcquisition`	$13.91M	USD	3 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$117.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$107.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$88.82M	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	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$877.00K	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.24M	USD	Annual
Dividends declared	`Dividends`	$1.67M	USD	Annual
Dividends declared	`Dividends`	$851.00K	USD	3 Qtrs
Acquisitions	`StockIssuedDuringPeriodValueAcquisitions`	$1.30M	USD	3 Qtrs
Acquisitions	`StockIssuedDuringPeriodValueAcquisitions`	$13.91M	USD	Annual
Net income	`NetIncomeLoss`	$9.82M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Net income	`NetIncomeLoss`	$8.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.58M	USD	1 Quarter
Balance	`StockholdersEquity`	$117.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$107.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$88.82M	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.