Gold Resource Corp Is Not A Primary Precious Metals Producer Anymore

Today Gold Resource Corp (NYSE: GORO) released its 2Q 2017 production results. The company produced the following amounts of metals:

• Gold: 5,696 ounces
• Silver: 397,670 ounces
• Copper: 294 tonnes
• Lead: 1,207 tonnes
• Zinc: 4,176 tonnes

Now, assuming the following, average metal prices recorded in 2Q 2017:

• Gold: $1,258 per ounce
• Silver: $17.21 per ounce
• Copper: $5,662 per tonne
• Lead: $2,161 per tonne
• Zinc: $2,596 per tonne

the metals produced in 2Q 2017 were worth:

source: Simple Digressions

Or, look at another chart:

source: Simple Digressions

As the chart shows, the value of base metals produced in 2Q 2017 was higher than the value of precious metals.

So, GORO is not a primary precious metals producer anymore, which means that from now on the company's peers are base metals producers.