Yesterday Gold Resources (GORO) released 3Q 2017 production figures. These figures once again confirm the fact that GORO is a base metals producer and not, as many think, a precious metals producer:
The chart shows that in 3Q 2017 base metals' (copper, lead and zinc) contribution to the total production was 56%.
What is more, the high contribution of base metals should have a very positive impact on the company's results. To remind my readers, this year base metals go up much stronger than gold and silver so...GORO investors should be satisfied.
The chart below depicts the value of metals produced, assuming the average quarterly prices of gold, silver, lead, copper and zinc:
Note that in 3Q 2017 the value of production was the highest this year.