Gold resource corporation declares commercial production at isabella pearl gold mine, mineral county, nevada
Gold resource corporation announced its isabella pearl gold mine, located in mineral county, nevada, has reached commercial production levels. this commercial production announcement is based on mining rates, ore placement on the heap leach pad, mining and process costs, production ramp-up, and reaching positive operational cash flow during the month of september. the company produced first gold dore from the project in late april 2019 and expects additional improvements as the project continues through the ramp up phase. gold resource corporation is a gold and silver producer, developer and explorer with operations in oaxaca, mexico and nevada, usa. the company has returned $112 million to its shareholders in consecutive monthly dividends since july 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. gold production levels at the isabella pearl mine have been ramping up since the first dore bar was produced in late april 2019. preliminary september production of gold loaded to carbon and dore produced totaled in excess of 2,000 ounces. the company plans to update its 2019 global gold production outlook in the upcoming third quarter preliminary production announcement to include estimated gold ounces targeted from its isabella pearl project for the fourth quarter. while it is still early in the project ramp up phase, 2,000 ounces of monthly gold production at isabella pearl is expected to continue generating positive cash flow by covering operational costs at the project assuming a gold price of $1,450 per ounce. the company’s 2020 annual production outlook for both oaxaca, mexico and nevada, u.s.a. will be released in early 2020. construction of the isabella pearl project’s adr process facility is complete with final commissioning occurring over the next several weeks to enable on-site dore production. off-site processing of the gold infused carbon into dore will continue until the on-site dore facility is fully optimized.
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