10-Q Filing

GOLD RESOURCE CORP CIK: 1160791 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-005181`
Period End Date	20200331
Filing Date	20200505
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	goro-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 28 Cash Flow Statement 62 Stockholders Equity 23

Balance Sheet 75 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`	69.54M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	65.69M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.37M	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`	$4.11M	USD	Point-in-time
Gold and silver rounds/bullion	`ShortTermInvestments`	$4.26M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.04M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.36M	USD	Point-in-time
Inventories, net	`InventoryNet`	$24.80M	USD	Point-in-time
Inventories, net	`InventoryNet`	$24.13M	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$118.00K	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$786.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.27M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$52.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$50.65M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$125.26M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$124.45M	USD	Point-in-time
Operating lease assets, net	`OperatingLeaseRightOfUseAsset`	$7.44M	USD	Point-in-time
Operating lease assets, net	`OperatingLeaseRightOfUseAsset`	$5.30M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$4.63M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$8.43M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.18M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.03M	USD	Point-in-time
Total assets	`Assets`	$193.01M	USD	Point-in-time
Total assets	`Assets`	$196.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.46M	USD	Point-in-time
Loans payable, current	`LoansPayableCurrent`	$888.00K	USD	Point-in-time
Loans payable, current	`LoansPayableCurrent`	$879.00K	USD	Point-in-time
Finance lease liabilities, current	`FinanceLeaseLiabilityCurrent`	$446.00K	USD	Point-in-time
Finance lease liabilities, current	`FinanceLeaseLiabilityCurrent`	$452.00K	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$5.19M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$7.29M	USD	Point-in-time
Income taxes payable, net	`AccruedIncomeTaxesCurrent`	$1.29M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$1.02M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$1.54M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.37M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.97M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$5.61M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$5.49M	USD	Point-in-time
Loans payable, long-term	`LongTermLoansPayable`	$782.00K	USD	Point-in-time
Loans payable, long-term	`LongTermLoansPayable`	$556.00K	USD	Point-in-time
Finance lease liabilities, long-term	`FinanceLeaseLiabilityNoncurrent`	$435.00K	USD	Point-in-time
Finance lease liabilities, long-term	`FinanceLeaseLiabilityNoncurrent`	$320.00K	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$160.00K	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$124.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$34.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.98M	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 69,541,527 and 65,691,527 shares outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$70.00K	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 69,541,527 and 65,691,527 shares outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$66.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$158.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$148.17M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.09M	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`	$127.26M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$165.09M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$139.17M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$158.06M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$193.01M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$196.07M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$26.58M	USD	1 Quarter
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$28.00M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$7.40M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$3.65M	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$38.00K	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$16.00K	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsAndServicesSold`	$21.14M	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsAndServicesSold`	$28.32M	USD	1 Quarter
Mine gross (loss) profit	`GrossProfit`	$-316.00K	USD	1 Quarter
Mine gross (loss) profit	`GrossProfit`	$5.44M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.27M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.01M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-25.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-1.51M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.94M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.49M	USD	1 Quarter
(Loss) income before income taxes	`OperatingIncomeLoss`	$1.95M	USD	1 Quarter
(Loss) income before income taxes	`OperatingIncomeLoss`	$-5.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.07M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-2.14M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-3.12M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$882.00K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.67M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	66.02M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.14M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	66.02M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$-3.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$882.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-4.65M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$895.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.54M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$336.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$470.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-1.78M	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$128.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.77M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.32M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.32M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.50M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-221.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-175.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-40.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-921.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-802.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$3.22M	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-784.00K	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.84M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.98M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-648.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.93M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.79M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.93M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.79M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$98.00K	USD	1 Quarter
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$10.81M	USD	1 Quarter
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$10.35M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$657.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$303.00K	USD	1 Quarter
Repayment of loans payable	`RepaymentsOfDebt`	$187.00K	USD	1 Quarter
Repayment of loans payable	`RepaymentsOfDebt`	$216.00K	USD	1 Quarter
Repayment of finance leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$101.00K	USD	1 Quarter
Repayment of finance leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$109.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.31M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.37M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-115.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-127.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$765.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.29M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.76M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.08M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.76M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.37M	USD	Point-in-time
Interest expense paid	`InterestPaidNet`	$42.00K	USD	1 Quarter
Interest expense paid	`InterestPaidNet`	$32.00K	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$197.00K	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$209.00K	USD	1 Quarter
Change in capital expenditures in accounts payable	`IncreaseDecreaseInAccruedCapitalExpenditures`	$2.30M	USD	1 Quarter
Change in capital expenditures in accounts payable	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-950.00K	USD	1 Quarter
Change in estimate for asset retirement costs	`AssetRetirementObligationRevisionOfEstimate`	$435.00K	USD	1 Quarter
Change in estimate for asset retirement costs	`AssetRetirementObligationRevisionOfEstimate`	$462.00K	USD	1 Quarter
Equipment purchased through loan payable	`EquipmentPurchasedThroughLoanPayable`	$330.00K	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$127.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$165.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$139.17M	USD	Point-in-time
Balance	`StockholdersEquity`	$158.06M	USD	Point-in-time
Balance	`CommonStockValue`	$70.00K	USD	Point-in-time
Balance	`CommonStockValue`	$66.00K	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$336.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$470.00K	USD	1 Quarter
Net stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$98.00K	USD	1 Quarter
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	274,750.00	shares	1 Quarter
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	1 Quarter
Dividends declared	`Dividends`	$665.00K	USD	1 Quarter
Dividends declared	`Dividends`	$307.00K	USD	1 Quarter
Issuance of stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$10.90M	USD	1 Quarter
Issuance of stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$10.35M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$882.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$127.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$165.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$139.17M	USD	Point-in-time
Balance	`StockholdersEquity`	$158.06M	USD	Point-in-time
Balance	`CommonStockValue`	$70.00K	USD	Point-in-time
Balance	`CommonStockValue`	$66.00K	USD	Point-in-time

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