Gold Resource Prospecting for Investors with Updated Mineral Assets Report

Gold Resource Corp. has identified enough mineral resources to continue operation of its underground Mexican mine for at least three more years, according to a March 5, 2025, filing with the Securities and Exchange Commission.

The company needs $38.5 million in capital investment to exploit the newly defined mineral deposits, according to the report.

Gold Resource was losing money and was on the verge of bankruptcy last November, because it had exhausted the high-quality mineral deposits at its Don David Gold Mine in Oaxaca, Mexico. Total production at the mine had dropped almost 50% last year from its peak in 2019.

The newly identified deposits, if brought into production, would presumably return Gold Resource Corp. to profitability. The company’s stock has jumped 167% this year.

Gold Resource owns the proposed Back Forty gold mine in Menominee County, Michigan. Development of the project has stalled due to regulatory setbacks and the parent company’s financial difficulties.

Permits for the construction and operation of the Back Forty had been secured by Aquila Resources, Inc., the project’s original owner. However, its wetlands permit was overturned in a contested case hearing, following testimony that Aquila had manipulated test data to reach a predetermined outcome that supported its application.

Aquila announced a few months later that it would no longer defend its permits in court, and would completely redesign the project. Aquila sold the Back Forty to Gold Resource in December of 2021.

Gold Resource Corp. was given the opportunity to comment on this report.