10-Q Filing

GOLD RESOURCE CORP CIK: 1160791 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-005136`
Period End Date	20210331
Filing Date	20210429
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	goro-20210331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 34 Cash Flow Statement 61 Stockholders Equity 23

Balance Sheet 62 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`	$25.41M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	74.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	74.38M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.11M	USD	Point-in-time
Gold and silver rounds/bullion	`ShortTermInvestments`	$671.00K	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`	$593.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.53M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.23M	USD	Point-in-time
Inventories, net	`InventoryNet`	$11.58M	USD	Point-in-time
Inventories, net	`InventoryNet`	$9.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.58M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.49M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$62.97M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$62.51M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$347.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$309.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$44.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$41.00K	USD	Point-in-time
Total assets	`Assets`	$105.73M	USD	Point-in-time
Total assets	`Assets`	$107.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.72M	USD	Point-in-time
Income taxes payable, net	`AccruedIncomeTaxesCurrent`	$1.37M	USD	Point-in-time
Income taxes payable, net	`AccruedIncomeTaxesCurrent`	$73.00K	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$853.00K	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$955.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.09M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.03M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$3.10M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$3.03M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$364.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$13.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.20M	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 74,439,206 and 74,376,958 shares outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Common stock - $0.001 par value, 100,000,000 shares authorized: 74,439,206 and 74,376,958 shares outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$84.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$84.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.44M	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`	$90.54M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$158.06M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$165.09M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$92.42M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$105.73M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$107.85M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$22.15M	USD	1 Quarter
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.27M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$6.01M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$3.40M	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$49.00K	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$51.00K	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsAndServicesSold`	$22.02M	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsAndServicesSold`	$18.69M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$8.57M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$128.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.80M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.58M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$496.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$484.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$470.00K	USD	1 Quarter
Other (income) expense, net	`NonoperatingIncomeExpense`	$314.00K	USD	1 Quarter
Other (income) expense, net	`NonoperatingIncomeExpense`	$-1.47M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.72M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.45M	USD	1 Quarter
Income (loss) before income taxes	`OperatingIncomeLoss`	$-4.59M	USD	1 Quarter
Income (loss) before income taxes	`OperatingIncomeLoss`	$5.12M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.59M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-1.37M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-3.22M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$2.53M	USD	1 Quarter
Net income (loss) from discontinued operations, net of income taxes	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$97.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.12M	USD	1 Quarter
Basic and diluted net income (loss) per common share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.03	USD	1 Quarter
Basic and diluted net income (loss) per common share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.05	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	74.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	66.02M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	74.76M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	66.02M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Interest expense paid	`InterestPaidNet`	$18.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.12M	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$3.74M	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$1.33M	USD	1 Quarter
Net income from discontinuing operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$97.00K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-3.22M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$2.53M	USD	1 Quarter
Change in capital expenditures in accounts payable	`IncreaseDecreaseInAccruedCapitalExpenditures`	$624.00K	USD	1 Quarter
Change in capital expenditures in accounts payable	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-259.00K	USD	1 Quarter
Change in estimate for asset retirement costs	`AssetRetirementObligationRevisionOfEstimate`	$7.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$43.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-3.88M	USD	1 Quarter
Change in estimate for asset retirement costs	`AssetRetirementObligationRevisionOfEstimate`	$443.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.11M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$484.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$470.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-340.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-1.79M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.49M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-693.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.06M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.71M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-592.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-92.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$10.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$228.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-1.14M	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.84M	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$923.00K	USD	1 Quarter
Net cash provided by operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$6.21M	USD	1 Quarter
Net cash provided by operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$6.83M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.32M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.48M	USD	1 Quarter
Proceeds from the sale of gold and silver bullion/rounds	`ProceedsFromSaleOfGoldAndSilverBullionOrRounds`	$3.00K	USD	1 Quarter
Proceeds from the sale of gold and silver bullion/rounds	`ProceedsFromSaleOfGoldAndSilverBullionOrRounds`	$1.00K	USD	1 Quarter
Net cash used in investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivities`	$-3.48M	USD	1 Quarter
Net cash used in investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivities`	$-4.32M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$165.00K	USD	1 Quarter
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$10.35M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$744.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$657.00K	USD	1 Quarter
Cash related to the Spin-off	`CashTransferredInSpinOffTransaction`	$-292.00K	USD	1 Quarter
Net cash (used in) provided by financing activities from continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$-579.00K	USD	1 Quarter
Net cash (used in) provided by financing activities from continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$9.98M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents from continuing operations	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-127.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents from continuing operations	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-110.00K	USD	1 Quarter
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-1.23M	USD	1 Quarter
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-3.45M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.82M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.91M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$25.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.21M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.21M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.11M	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$90.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$158.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$165.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$92.42M	USD	Point-in-time
Balance	`CommonStockValue`	$75.00K	USD	Point-in-time
Balance	`CommonStockValue`	$75.00K	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$470.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$141.00K	USD	1 Quarter
Net stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$165.00K	USD	1 Quarter
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	1 Quarter
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	125,000.00	shares	1 Quarter
Dividends declared	`Dividends`	$744.00K	USD	1 Quarter
Dividends declared	`Dividends`	$665.00K	USD	1 Quarter
Surrender of stock for taxes due on vesting	`SurrenderOfStockForTaxesDueOnVestingValue`	$205.00K	USD	1 Quarter
Issuance of stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$10.35M	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$2.53M	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$-3.12M	USD	1 Quarter
Balance	`StockholdersEquity`	$90.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$158.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$165.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$92.42M	USD	Point-in-time
Balance	`CommonStockValue`	$75.00K	USD	Point-in-time
Balance	`CommonStockValue`	$75.00K	USD	Point-in-time

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