10-Q Filing

GOLD RESOURCE CORP CIK: 1160791 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001558370-23-006680`
Period End Date	20230331
Filing Date	20230425
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	goro-20230331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 37 Cash Flow Statement 50 Stockholders Equity 22

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`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.40M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.42M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.47M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.68M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.08M	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`	$13.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$11.18M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.98M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$46.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.72M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$152.56M	USD	Point-in-time
Property, plant and mine development, net	`PropertyPlantAndEquipmentNet`	$149.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.49M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.51M	USD	Point-in-time
Total assets	`Assets`	$204.17M	USD	Point-in-time
Total assets	`Assets`	$195.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.62M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$744.00K	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$3.94M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityCurrent`	$2.21M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityCurrent`	$2.21M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$5.20M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$5.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.68M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$10.37M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$11.67M	USD	Point-in-time
Gold and silver stream agreements liability	`ContractWithCustomerLiabilityNoncurrent`	$43.74M	USD	Point-in-time
Gold and silver stream agreements liability	`ContractWithCustomerLiabilityNoncurrent`	$43.47M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$9.22M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$7.72M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$2.14M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$2.18M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.31M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$84.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$92.41M	USD	Point-in-time
Common stock - $0.001 par value, 200,000,000 shares authorized: 88,468,542 and 88,398,109 shares outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$89.00K	USD	Point-in-time
Common stock - $0.001 par value, 200,000,000 shares authorized: 88,468,542 and 88,398,109 shares outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$89.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$111.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$111.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.67M	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`	$111.76M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$110.99M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$204.17M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$195.20M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$31.23M	USD	1 Quarter
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$45.42M	USD	1 Quarter
Production costs	`MiningProductionCosts`	$19.85M	USD	1 Quarter
Production costs	`MiningProductionCosts`	$20.07M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$7.25M	USD	1 Quarter
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$5.96M	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$195.00K	USD	1 Quarter
Reclamation and remediation	`ReclamationAndRemediation`	$62.00K	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$27.30M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$26.09M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$19.32M	USD	1 Quarter
Mine gross profit	`GrossProfit`	$3.93M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.19M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.90M	USD	1 Quarter
Exploration expenses	`MiningExplorationExpense`	$2.31M	USD	1 Quarter
Exploration expenses	`MiningExplorationExpense`	$1.84M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$774.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$597.00K	USD	1 Quarter
Realized and unrealized loss on zinc zero cost collar	`DerivativeGainLossOnDerivativeNet`	$-4.14M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-838.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-1.47M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$9.95M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$5.10M	USD	1 Quarter
(Loss) income before income taxes	`OperatingIncomeLoss`	$-1.17M	USD	1 Quarter
(Loss) income before income taxes	`OperatingIncomeLoss`	$9.37M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.35M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-134.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$4.02M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.03M	USD	1 Quarter
Basic net (loss) income per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic net (loss) income per common share	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Diluted net (loss) income per common share	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted net (loss) income per common share	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	88.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	88.34M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.62M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-1.03M	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$4.50M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$4.02M	USD	1 Quarter
Income and mining taxes paid	`IncomeTaxesPaid`	$13.86M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxesAndTaxCredits`	$-715.00K	USD	1 Quarter
Change in capital expenditures in accounts payable	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-927.00K	USD	1 Quarter
Change in capital expenditures in accounts payable	`IncreaseDecreaseInAccruedCapitalExpenditures`	$-983.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxesAndTaxCredits`	$-827.00K	USD	1 Quarter
Depreciation and amortization, including amortization in reclamation	`DepreciationDepletionAndAmortization`	$6.00M	USD	1 Quarter
Depreciation and amortization, including amortization in reclamation	`DepreciationDepletionAndAmortization`	$7.28M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$774.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$597.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-631.00K	USD	1 Quarter
Other operating adjustments	`OtherNoncashIncomeExpense`	$-2.55M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.98M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$49.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.01M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.74M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.18M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.39M	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$42.00K	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-340.00K	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-4.51M	USD	1 Quarter
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-920.00K	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-4.26M	USD	1 Quarter
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.23M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.02M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.95M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.14M	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`	$-3.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.42M	USD	1 Quarter
(Cash settlement of) proceeds from stock options exercise	`ProceedsForFromStockOptionsExercised`	$-246.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$883.00K	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-16.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.13M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-127.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-222.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.54M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.25M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$21.42M	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`	$33.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$21.42M	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`	$33.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.68M	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.01	USD	1 Quarter
Balance	`StockholdersEquity`	$120.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$123.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$111.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$110.99M	USD	Point-in-time
Balance	`CommonStockValue`	$89.00K	USD	Point-in-time
Balance	`CommonStockValue`	$89.00K	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$160.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$273.00K	USD	1 Quarter
Net stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-331.00K	USD	1 Quarter
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	1 Quarter
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	355,000.00	shares	1 Quarter
Dividends declared	`Dividends`	$883.00K	USD	1 Quarter
Surrender of stock for taxes due on vesting	`SurrenderOfStockForTaxesDueOnVestingValue`	$11.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$4.02M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.03M	USD	1 Quarter
Balance	`StockholdersEquity`	$120.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$123.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$111.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$110.99M	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.