10-Q Filing

GOLD RESOURCE CORP CIK: 1160791 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-003646`
Period End Date	20180331
Filing Date	20180501
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	goro-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 35 Cash Flow Statement 57 Stockholders Equity 22

Balance Sheet 67 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`	57.23M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.92M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.39M	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`	$3.81M	USD	Point-in-time
Gold and silver rounds/bullion	`ShortTermInvestments`	$3.83M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.64M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.88M	USD	Point-in-time
Inventories, net	`InventoryNet`	$12.92M	USD	Point-in-time
Inventories, net	`InventoryNet`	$11.64M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.77M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.49M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$85.97M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$82.60M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$6.83M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$6.85M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$981.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$914.00K	USD	Point-in-time
Total assets	`Assets`	$132.92M	USD	Point-in-time
Total assets	`Assets`	$142.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.29M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$574.00K	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$568.00K	USD	Point-in-time
Capital lease, current	`CapitalLeaseObligationsCurrent`	$382.00K	USD	Point-in-time
Capital lease, current	`CapitalLeaseObligationsCurrent`	$388.00K	USD	Point-in-time
Income taxes payable, net	`AccruedIncomeTaxesCurrent`	$1.94M	USD	Point-in-time
Income taxes payable, net	`AccruedIncomeTaxesCurrent`	$2.78M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$3.38M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$2.36M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.85M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.87M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$2.95M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$3.18M	USD	Point-in-time
Loan payable, long-term	`LongTermLoansPayable`	$1.65M	USD	Point-in-time
Loan payable, long-term	`LongTermLoansPayable`	$1.50M	USD	Point-in-time
Capital lease, long-term	`CapitalLeaseObligationsNoncurrent`	$1.12M	USD	Point-in-time
Capital lease, long-term	`CapitalLeaseObligationsNoncurrent`	$1.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.82M	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 57,230,793 and 56,916,484 shares outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 57,230,793 and 56,916,484 shares outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$115.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$114.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.69M	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`	$117.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$107.08M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$112.11M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$132.92M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$142.37M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`SalesRevenueGoodsNet`	$32.15M	USD	1 Quarter
Sales, net	`SalesRevenueGoodsNet`	$24.34M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$11.34M	USD	1 Quarter
Production costs	`MineralExtractionProcessingAndMarketingCosts`	$15.54M	USD	1 Quarter
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$2.56M	USD	1 Quarter
Depreciation and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	$3.49M	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$29.00K	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$203.00K	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsSold`	$13.92M	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsSold`	$19.23M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$10.42M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$12.92M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.35M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.81M	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$1.19M	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$822.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-278.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-464.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.82M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.10M	USD	1 Quarter
Income before income taxes	`OperatingIncomeLoss`	$9.10M	USD	1 Quarter
Income before income taxes	`OperatingIncomeLoss`	$7.32M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.94M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.15M	USD	Annual
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.46M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.80M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	57.12M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.99M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.91M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.15M	USD	Annual
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.46M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$412.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.66M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$200.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$236.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$906.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-407.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.24M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.28M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-339.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$151.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-868.00K	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-65.00K	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$1.58M	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$2.73M	USD	1 Quarter
Mining royalty and income taxes payable/receivable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.49M	USD	1 Quarter
Mining royalty and income taxes payable/receivable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-578.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.96M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.06M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.33M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$78.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.33M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$244.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$285.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$284.00K	USD	1 Quarter
Repayment of loan payable	`RepaymentsOfDebt`	$140.00K	USD	1 Quarter
Repayments of capital leases	`RepaymentsCapitalLeaseObligations`	$93.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-284.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-274.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-127.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-105.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.23M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.47M	USD	1 Quarter
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.62M	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`	$16.64M	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.39M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.62M	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`	$16.64M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.39M	USD	Point-in-time
Interest expense paid	`InterestPaidNet`	$13.00K	USD	1 Quarter
Interest expense paid	`InterestPaidNet`	$49.00K	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$730.00K	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$1.35M	USD	1 Quarter
(Decrease) increase in accrued capital expenditures	`IncreaseDecreaseInAccruedCapitalExpenditures`	$495.00K	USD	1 Quarter
(Decrease) increase in accrued capital expenditures	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-193.00K	USD	1 Quarter
Common stock issued for the acquisition of mineral rights	`CommonStockIssuedForAcquisition`	$1.30M	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$117.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$107.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$112.11M	USD	Point-in-time
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$58.00K	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$187.00K	USD	1 Quarter
Stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1.00M	shares	1 Quarter
Adjustment to retained earnings as a result of adoption of ASU 2016-16	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$-533.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.19M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$236.00K	USD	1 Quarter
Dividends declared	`Dividends`	$286.00K	USD	1 Quarter
Dividends declared	`Dividends`	$1.14M	USD	Annual
Common stock issued for the acquisition of mineral properties	`StockIssuedDuringPeriodValueAcquisitions`	$1.30M	USD	Annual
Net income	`NetIncomeLoss`	$4.15M	USD	Annual
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.46M	USD	1 Quarter
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time
Balance	`CommonStockValue`	$57.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$117.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$107.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$112.11M	USD	Point-in-time

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