| Company: | Gold Resource Corporation |
| Ticker Symbol: | GORO |
| Class Period: | Jan-30-12 to Nov-8-12 |
| Date Filed: | Nov-21-12 |
| Lead Plaintiff Deadline: | Jan-20-13 |
| Court: | District of Colorado |
| Allegations: | |
Gold Resource engages in the exploration and production of gold and silver in Mexico. The Complaint alleges that the Company misrepresented or failed to disclose that: (1) overly aggressive expansion of Gold Resource' underground mining operations in first quarter 2012 had created operational difficulties at the Company' El Aguila mining project in Mexico' southern state of Oaxaca, which were lowering mine production; (2) the Company was mining in lower-grade zones of the deposit; (3) significant operational efficiency improvements were required, including electric power upgrades throughout the mine, expanded ventilation, and the ability to handle increased ground water at deeper mine levels, limiting the Company' ability to mine higher-grade stopes; (4) decreases in long-hole stoping were forcing the Company to process more diluted development ore and mine from lower-grade areas of the deposit; (5) as a result of the foregoing, tonnes from stoping, as a percentage of milled ore, had decreased from an estimated year-to-date high of 55% during the first quarter 2012 to an estimated year-to-date low of 15% during the second quarter; and (6) during third quarter 2012 a dispute had arisen between the Company and the buyer of its metal concentrates, with the buyer claiming net adjustments (reductions) to the Company' provisional third quarter 2012 invoices of approximately 2,300 gold equivalent ounces (or 10%).
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
