10-Q Filing

GOLD RESOURCE CORP CIK: 1160791 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-007875`
Period End Date	20220331
Filing Date	20220509
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	goro-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 53 Stockholders Equity 23

Balance Sheet 68 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`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.34M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.71M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.34M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.18M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.67M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$11.65M	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
Inventories, net	`InventoryNet`	$12.78M	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.36M	USD	Point-in-time
Promissory Note	`PromissoryNote`	$3.92M	USD	Point-in-time
Promissory Note	`PromissoryNote`	$3.88M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$60.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$58.91M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$156.77M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$155.53M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$365.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$76.00K	USD	Point-in-time
Total assets	`Assets`	$215.76M	USD	Point-in-time
Total assets	`Assets`	$216.58M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.56M	USD	Point-in-time
Income taxes payable, net	`AccruedIncomeTaxesCurrent`	$6.80M	USD	Point-in-time
Income taxes payable, net	`AccruedIncomeTaxesCurrent`	$4.14M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$2.98M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$1.80M	USD	Point-in-time
Zinc zero cost collar	`DerivativeLiabilitiesCurrent`	$1.84M	USD	Point-in-time
Zinc zero cost collar	`DerivativeLiabilitiesCurrent`	$4.35M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$7.46M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$4.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.32M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$3.11M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$3.23M	USD	Point-in-time
Gold and silver stream agreements	`ContractWithCustomerLiabilityNoncurrent`	$42.56M	USD	Point-in-time
Gold and silver stream agreements	`ContractWithCustomerLiabilityNoncurrent`	$42.77M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$13.13M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$12.10M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$4.60M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$4.43M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.95M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$95.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$92.87M	USD	Point-in-time
Common stock - $0.001 par value, 200,000,000 shares authorized: 88,338,774 shares outstanding at March 31, 2022 and December 31, 2021	`CommonStockValue`	$89.00K	USD	Point-in-time
Common stock - $0.001 par value, 200,000,000 shares authorized: 88,338,774 shares outstanding at March 31, 2022 and December 31, 2021	`CommonStockValue`	$89.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$109.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$110.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$17.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.70M	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`	$120.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$123.72M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$92.42M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$90.54M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$216.58M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$215.76M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$45.42M	USD	1 Quarter
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.27M	USD	1 Quarter
Production costs	`MiningProductionCosts`	$20.07M	USD	1 Quarter
Production costs	`MiningProductionCosts`	$15.24M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$3.40M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$5.96M	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$51.00K	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$62.00K	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsAndServicesSold`	$26.09M	USD	1 Quarter
Total mine cost of sales	`CostOfGoodsAndServicesSold`	$18.69M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$19.32M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$8.57M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.90M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.58M	USD	1 Quarter
Exploration expenses	`MiningExplorationExpense`	$1.21M	USD	1 Quarter
Exploration expenses	`MiningExplorationExpense`	$2.31M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$496.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$774.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$484.00K	USD	1 Quarter
Realized and unrealized loss on zinc zero cost collar	`DerivativeGainLossOnDerivativeNet`	$-4.14M	USD	1 Quarter
Other expense (income), net	`NonoperatingIncomeExpense`	$314.00K	USD	1 Quarter
Other expense (income), net	`NonoperatingIncomeExpense`	$-838.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$9.95M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.45M	USD	1 Quarter
Income (loss) before income taxes	`OperatingIncomeLoss`	$5.12M	USD	1 Quarter
Income (loss) before income taxes	`OperatingIncomeLoss`	$9.37M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.35M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.02M	USD	1 Quarter
Basic net income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.05	USD	1 Quarter
Basic net income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.03	USD	1 Quarter
Diluted net income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.05	USD	1 Quarter
Diluted net income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.03	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	88.34M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	74.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.62M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	74.76M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Income and mining taxes paid	`IncomeTaxesPaid`	$13.86M	USD	1 Quarter
Net income	`ProfitLoss`	$4.02M	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$1.33M	USD	1 Quarter
Net income	`ProfitLoss`	$2.53M	USD	1 Quarter
Change in capital expenditures in accounts payable	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-927.00K	USD	1 Quarter
Deferred income tax (benefit) expense	`DeferredIncomeTaxesAndTaxCredits`	$43.00K	USD	1 Quarter
Deferred income tax (benefit) expense	`DeferredIncomeTaxesAndTaxCredits`	$-827.00K	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
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$774.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$484.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-340.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-2.55M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.98M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-693.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.06M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.01M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-592.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.18M	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-340.00K	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-920.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-1.14M	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$923.00K	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.83M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.23M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.95M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.32M	USD	1 Quarter
Proceeds from the sale of gold and silver rounds	`ProceedsFromSaleOfGoldAndSilverBullionOrRounds`	$3.00K	USD	1 Quarter
Proceeds from the sale of gold and silver rounds	`ProceedsFromSaleOfGoldAndSilverBullionOrRounds`	$533.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.42M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.32M	USD	1 Quarter
Proceeds (for) from the exercise of stock options	`ProceedsForFromStockOptionsExercised`	$-246.00K	USD	1 Quarter
Proceeds (for) from the exercise of stock options	`ProceedsForFromStockOptionsExercised`	$165.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$744.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$883.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.13M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-579.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-222.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-110.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.82M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.54M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$27.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$33.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$31.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$25.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$27.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$33.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$31.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$25.41M	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$120.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$123.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$92.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$90.54M	USD	Point-in-time
Balance	`CommonStockValue`	$89.00K	USD	Point-in-time
Balance	`CommonStockValue`	$89.00K	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$141.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$160.00K	USD	1 Quarter
Stock options exercised - settled in cash	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-331.00K	USD	1 Quarter
Stock options exercised - settled in cash	`StockIssuedDuringPeriodValueStockOptionsExercised`	$165.00K	USD	1 Quarter
Stock options exercised - settled in cash (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	265,000.00	shares	1 Quarter
Stock options exercised - settled in cash (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	125,000.00	shares	1 Quarter
Dividends declared	`Dividends`	$883.00K	USD	1 Quarter
Dividends declared	`Dividends`	$744.00K	USD	1 Quarter
Surrender of stock for taxes due on vesting	`SurrenderOfStockForTaxesDueOnVestingValue`	$205.00K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$2.53M	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$4.02M	USD	1 Quarter
Balance	`StockholdersEquity`	$120.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$123.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$92.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$90.54M	USD	Point-in-time
Balance	`CommonStockValue`	$89.00K	USD	Point-in-time
Balance	`CommonStockValue`	$89.00K	USD	Point-in-time

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