10-K Filing

GOLD RESOURCE CORP CIK: 1160791 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001558370-24-004134`
Period End Date	20231231
Filing Date	20240328
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	goro-20231231x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 37 Cash Flow Statement 54 Stockholders Equity 12

Balance Sheet 64 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.68M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.40M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.08M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	336,398.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.33M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	336,398.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$9.29M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.84M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$46.10M	USD	Point-in-time
Property, plant, and mine development, net	`PropertyPlantAndEquipmentNet`	$138.63M	USD	Point-in-time
Property, plant, and mine development, net	`PropertyPlantAndEquipmentNet`	$152.56M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$13.30M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$5.93M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.46M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.51M	USD	Point-in-time
Total assets	`Assets`	$210.10M	USD	Point-in-time
Total assets	`Assets`	$183.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.38M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$3.94M	USD	Point-in-time
Mining royalty taxes payable, net	`MiningRoyaltyTaxesPayable`	$1.20M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityCurrent`	$2.21M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$5.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.68M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$11.79M	USD	Point-in-time
Reclamation and remediation liabilities	`MineReclamationAndClosingLiabilityNoncurrent`	$10.37M	USD	Point-in-time
Gold and silver stream agreements liability	`ContractWithCustomerLiabilityNoncurrent`	$44.93M	USD	Point-in-time
Gold and silver stream agreements liability	`ContractWithCustomerLiabilityNoncurrent`	$43.47M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$15.15M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$14.08M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$3.55M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$2.18M	USD	Point-in-time
Contingent consideration	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$4.60M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.52M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$87.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$98.33M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $0.001 par value, 200,000,000 shares authorized: 88,694,038 and 88,398,109 shares outstanding at December 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: 88,694,038 and 88,398,109 shares outstanding at December 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$89.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$111.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$111.02M	USD	Point-in-time
(Accumulated deficit) retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.71M	USD	Point-in-time
(Accumulated deficit) retained earnings	`RetainedEarningsAccumulatedDeficit`	$-8.31M	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`	$111.76M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$96.69M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$210.10M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$183.89M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$97.73M	USD	Annual
Sales, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$138.72M	USD	Annual
Production costs	`MiningProductionCosts`	$76.14M	USD	Annual
Production costs	`MiningProductionCosts`	$80.95M	USD	Annual
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$27.23M	USD	Annual
Depreciation and amortization	`CostDepreciationAmortizationAndDepletion`	$26.13M	USD	Annual
Reclamation and remediation	`ReclamationAndRemediation`	$801.00K	USD	Annual
Reclamation and remediation	`ReclamationAndRemediation`	$774.00K	USD	Annual
Total cost of sales	`CostOfGoodsAndServicesSold`	$108.98M	USD	Annual
Total cost of sales	`CostOfGoodsAndServicesSold`	$103.04M	USD	Annual
Mine gross (loss) profit	`GrossProfit`	$29.75M	USD	Annual
Mine gross (loss) profit	`GrossProfit`	$-5.32M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$8.05M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.58M	USD	Annual
Exploration expenses	`MiningExplorationExpense`	$13.05M	USD	Annual
Exploration expenses	`MiningExplorationExpense`	$5.81M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.96M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$681.00K	USD	Annual
Realized and unrealized loss on zinc zero cost collar	`DerivativeGainLossOnDerivativeNet`	$-170.00K	USD	Annual
Other expense, net	`NonoperatingIncomeExpense`	$-3.36M	USD	Annual
Other expense, net	`NonoperatingIncomeExpense`	$-4.29M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$27.51M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$16.44M	USD	Annual
(Loss) income before income taxes	`OperatingIncomeLoss`	$2.24M	USD	Annual
(Loss) income before income taxes	`OperatingIncomeLoss`	$-21.75M	USD	Annual
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$8.56M	USD	Annual
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-5.74M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.32M	USD	Annual
Net loss	`NetIncomeLoss`	$-16.02M	USD	Annual
Basic net loss per common share	`EarningsPerShareBasic`	$-0.18	USD	Annual
Basic net loss per common share	`EarningsPerShareBasic`	$-0.07	USD	Annual
Diluted net loss per common share	`EarningsPerShareDiluted`	$-0.07	USD	Annual
Diluted net loss per common share	`EarningsPerShareDiluted`	$-0.18	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.37M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.51M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.51M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.37M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-16.02M	USD	Annual
Net loss	`ProfitLoss`	$-6.32M	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxesAndTaxCredits`	$-6.64M	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxesAndTaxCredits`	$-3.54M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$27.36M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.22M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.96M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$681.00K	USD	Annual
Other operating adjustments	`OtherNoncashIncomeExpense`	$-591.00K	USD	Annual
Other operating adjustments	`OtherNoncashIncomeExpense`	$-44.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.59M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-750.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$2.55M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-2.61M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.57M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$724.00K	USD	Annual
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$863.00K	USD	Annual
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-249.00K	USD	Annual
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-7.11M	USD	Annual
Accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$284.00K	USD	Annual
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-7.01M	USD	Annual
Mining royalty and income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-6.19M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.16M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.22M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.49M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.23M	USD	Annual
Equity investment	`PaymentsToAcquireEquityMethodInvestments`	$1.74M	USD	Annual
Proceeds from the sale of gold and silver rounds	`ProceedsFromSaleOfGoldAndSilverBullionOrRounds`	$533.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.49M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.44M	USD	Annual
Cash settlement of options exercise	`ProceedsForFromStockOptionsExercised`	$-376.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.54M	USD	Annual
Proceeds from the ATM sales	`ProceedsFromIssuanceOfCommonStock`	$85.00K	USD	Annual
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-23.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$62.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.91M	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$223.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-839.00K	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-10.04M	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-17.42M	USD	Annual
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.68M	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`	$6.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.68M	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`	$6.25M	USD	Point-in-time
Income and mining taxes paid	`IncomeTaxesPaid`	$18.59M	USD	Annual
Income and mining taxes paid	`IncomeTaxesPaid`	$7.75M	USD	Annual
Balance of capital expenditures in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.30M	USD	Annual
Balance of capital expenditures in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$214.00K	USD	Annual
Change in estimate for asset retirement costs	`AssetRetirementObligationRevisionOfEstimate`	$6.38M	USD	Annual
Change in estimate for asset retirement costs	`AssetRetirementObligationRevisionOfEstimate`	$-1.22M	USD	Annual
Green Light Metals shares received for promissory note	`DebtConversionConvertedInstrumentAmount1`	$3.61M	USD	Annual
Issuance (cancellation) of shares related to the Aquila acquisition	`IssuanceCancellationOfSharesRelatedToAcquisition`	$-29.00K	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.04	USD	Annual
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	-	USD	Annual
Cash dividends paid per share	`CommonStockDividendsPerShareCashPaid`	-	USD	Annual
Cash dividends paid per share	`CommonStockDividendsPerShareCashPaid`	$0.04	USD	Annual
Balance	`StockholdersEquity`	$111.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$96.69M	USD	Point-in-time
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	Annual
Net stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	355,000.00	shares	Annual
Net loss	`NetIncomeLoss`	$-6.32M	USD	Annual
Net loss	`NetIncomeLoss`	$-16.02M	USD	Annual
Balance	`StockholdersEquity`	$111.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$96.69M	USD	Point-in-time

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