Gold Resource Corp. (OTCBB: GORO) focuses on the production and development of gold and silver products through its 100-percent owned high-grade gold and silver properties in Mexico’s southern state of Oaxaca. The company today announced it has begun to move its equipment to the Mexican border to prepare for clearing customs and transporting that equipment to the El Aguila Project in Oaxaca.
“Gold Resource Corporation has come a long way in less than two years as a public company and we fully expect to continue our aggressive pace as we establish gold production at our flagship El Aguila Project,” Gold Resource’s president, William W. Reid, stated in the press release.
The company expects gold production to commence in the first quarter of 2009, upon obtaining regulatory approvals in accordance with equipment delivery schedules. The mill equipment acquisition is 95-percent complete, and still within the parameters of the company’s budget.
“Having recently received our mill permit, it is exciting to see mill construction underway. In addition, now we have mill equipment at, or being transported to, our marshalling yard in Laredo, Texas, in anticipation of ultimately clearing customs on their way to the Aguila mill site,” Reid stated. “We are optimistic the next Federal Permit for the mill tailings facility will be granted shortly so construction of the tailings facility can begin. Permits dictate our production time frame and though we do not see any issues that would preclude the granting of the remaining permits, it is apparent that our production time frame will now push into the first quarter of 2009.”
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