“With the completion of the Nevada spin-off, we are excited to now focus our strategy in Mexico on redeploying more cashflow back into the ground for accelerated growth,” stated Mr. Alex Morrison, newly appointed Chairman of Gold Resource Corporation.
Rob McEwen commented: “These funds will be used for exploration to facilitate the rapid expansion of our discoveries at Stock and Grey Fox, which are key elements in our plans for growing the Fox Complex annual gold production to 100,000-150,000 oz over a 10-year mine life.
“Average annual production is projected at 26,000 oz gold in Phase 1 and 4,200,000 oz silver equivalent in Phase 2. The critical path environmental permits are in hand for the first phase of production. Our next steps will involve detailed engineering, assessment of procurement options, and the evaluation of financing alternatives,” said Rob McEwen, Chairman and Chief Owner.
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