{"url_path":"/sec/goro/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1160791/0001104659-26-057305-index.html","accession_number":"0001104659-26-057305","cik":"0001160791","ticker":"GORO","issuer_name":"GOLD RESOURCE CORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/1160791/0001104659-26-057305-index.html","primary_entity_key":"0001160791","primary_entity_name":"GOLD RESOURCE CORP"},"word_count":1235,"has_tables":true,"body_markdown":"GOLD RESOURCE CORP_March 31, 2026\n\n0001160791--12-312026Q1falseGOLD RESOURCE 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of Contents](#Toc)\n\n​\n\n​\n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n**FORM****10-Q**\n\n**(Mark One)**\n\n​\n\n**☒**\n\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n​\n\n**For the quarterly period ended****March 31, 2026**\n\n​\n\n**☐**\n\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n​\n\n**For the transition period from****______****to****______**\n\n​\n\n**Commission File Number: ****001-34857**\n\n​\n\n**Gold Resource Corporation**\n\n(Exact Name of Registrant as Specified in its charter)​\n\n​\n\n**Colorado**\n\n**84-1473173**\n\n**(State or other jurisdiction of**\n\n**incorporation or organization)**\n\n**(I.R.S. Employer**\n\n**Identification No.)**\n\n​\n\n**7887 E. Belleview Ave****,****Suite 1100****,****Denver,********Colorado********80****111**\n\n**(Address of Principal Executive Offices) (Zip Code)**\n\n​\n\n**(****303****)****320-7708**\n\n**(Registrant’s telephone number including area code) **\n\n​\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n​\n\na\n\n**Title of each class**\n\n**Trading Symbol**\n\n**Name of each exchange where registered**\n\nCommon Stock, $0.001 par value\n\nGORO\n\nNYSE American\n\n​\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes⌧No◻\n\n​\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes⌧No◻\n\n​\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\nLarge accelerated filer\n\n◻\n\nAccelerated filer\n\n◻\n\n​\n\n​\n\n​\n\n​\n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nEmerging growth company\n\n☐\n\n​\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act◻\n\n​\n\nIndicate by check mark whether registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No⌧\n\n​\n\nIndicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 161,882,909 shares of common stock outstanding as of May 4, 2026.\n\n​\n\n​\n\n​\n\n[Table of Contents](#Toc)\n\n**GOLD RESOURCE CORPORATION**\n\n​\n\n**FORM 10-Q**\n\n​\n\n**Table of Contents**\n\n​\n\n​\n\n​\n\nPage\n\n​\n\n​\n\n[First Quarter 2026 Summary](#highlights)\n\n3\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Part I - FINANCIAL INFORMATION](#PARTIFINANCIALINFORMATION_766277)\n\n4\n\n[Item 1.](#ITEM1FinancialStatements_77079)\n\n​\n\n[Condensed Consolidated Interim Financial Statements and Notes](#ITEM1FinancialStatements_77079)\n\n4\n\n​\n\n​\n\nØ\n\n[Condensed Consolidated Interim Balance Sheets as of March 31, 2026 (unaudited) and December 31, 2025](#BALANCESHEETS_556950)\n\n4\n\n​\n\n​\n\nØ\n\n[Condensed Consolidated Interim Statements of Operations for the three months ended March 31, 2026 and 2025 (unaudited)](#STATEMENTSOFOPERATIONS_953376)\n\n5\n\n​\n\n​\n\nØ\n\n[Condensed Consolidated Interim Statements of Changes in Shareholders’ Equity for the three months ended March 31, 2026 and 2025 (unaudited)](#Statements_of_changes_in_shareholders)\n\n6\n\n​\n\n​\n\nØ\n\n[Condensed Consolidated Interim Statements of Cash Flows for the three months ended March 31, 2026 and 2025 (unaudited)](#CASHFLOWS_989676)\n\n7\n\n​\n\n​\n\nØ\n\n[Notes to the Condensed Consolidated Interim Financial Statements (unaudited)](#NOTESTOTHECONDENSEDCONSOLIDATEDINTERIMFI)\n\n8\n\n[Item 2.](#ITEM2ManagementsDiscussionandAnalysisofF)\n\n​\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#ITEM2ManagementsDiscussionandAnalysisofF)\n\n24\n\n[Item 3.](#ITEM3QuantitativeandQualitativeDisclosur)\n\n​\n\n[Quantitative and Qualitative Disclosures About Market Risk](#ITEM3QuantitativeandQualitativeDisclosur)\n\n42\n\n[Item 4.](#ITEM4ControlsandProcedures_149634)\n\n​\n\n[Controls and Procedures](#ITEM4ControlsandProcedures_149634)\n\n43\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Part II - OTHER INFORMATION](#PARTIIOTHERINFORMATION_690712)\n\n44\n\n[Item 1.](#Part_II_Item1)\n\n​\n\n[Legal Proceedings](#Part_II_Item1)\n\n44\n\n[Item 1A.](#Part_II_Item1A)\n\n​\n\n[Risk Factors](#Part_II_Item1A)\n\n44\n\n[Item 2.](#Part_II_Item2)\n\n​\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#Part_II_Item2)\n\n44\n\n[Item 3.](#Part_II_Item3)\n\n​\n\n[Defaults upon Senior Securities](#Part_II_Item3)\n\n44\n\n[Item 4.](#ITEM4MineSafetyDisclosures_193290)\n\n​\n\n[Mine Safety Disclosures](#ITEM4MineSafetyDisclosures_193290)\n\n45\n\n[Item 5.](#OtherInformation)\n\n​\n\n[Other Information](#OtherInformation)\n\n45\n\n[Item 6.](#ITEM6Exhibits_540068)\n\n​\n\n[Exhibits](#ITEM6Exhibits_540068)\n\n46\n\n[Signatures](#SIGNATURES_733918)\n\n47\n\n​\n\n​\n\nDDGM Processing Plant\n\n​\n\nGold Resource Corporation—Condensed Consolidated Interim Financial Statements and Notes (Unaudited)\n2\n\n[Table of Contents](#Toc)\n\n**FIRST QUARTER 2026****SUMMARY**\n\n​\n\nA summary for the three months ended March 31, 2026 is presented below and discussed further under *Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations*:\n\n*Corporate and Financial*\n\n●On January 26, 2026, the Company announced that it entered into a definitive arrangement agreement and plan of merger (the “Arrangement Agreement”) with Goldgroup Mining Inc. (“Goldgroup”), whereby Goldgroup agreed to acquire all of the issued and outstanding shares of the Company’s common stock (the “Transaction”). Pursuant to the Arrangement Agreement, the Company’s stockholders will receive 1.4476 common shares of Goldgroup for each share of the Company’s common stock (as adjusted by a share consolidation to be completed by Goldgroup prior to closing). The Transaction is expected to close in the third quarter of 2026, subject to customary closing conditions (including approval by the stockholders of each of the Company and Goldgroup). The parties received unconditional approval from the Mexican National Antitrust Commission in respect of the Transaction on April 27, 2026.\n\n●The Company has $40.2 million in working capital and $31.0 million in cash and cash equivalents as of March 31, 2026.\n\n●The Company had net income of $4.7 million, or $0.03 per share, for the quarter, which reflects the increased production and higher realized metal prices in 2026.\n\n●Total cash cost after co-product credits for the quarter was $2,164 per AuEq ounce, and total consolidated all-in sustaining cost (“AISC”) after co-product credits for the quarter was $3,476 per AuEq ounce. (See *Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Measures* for a reconciliation of non-GAAP measures to applicable U.S. GAAP measures).**\n\n*Don David Gold Mine (“DDGM”)*\n\n●In the first quarter of 2026, DDGM, located in Mexico, produced and sold a total of 8,749 gold equivalent (“AuEq”) ounces, comprised of 1,548 gold ounces and 374,232 silver ounces, at an average realized sales price per ounce of $5,098 and $98.09, respectively. The 74,444 total tonnes milled was 31% higher than in the same period in 2025. Metal production for gold and silver increased by 126% and 54%, respectively. Copper, lead, and zinc production also increased by 39%, 36%, and 64%, respectively.\n\n●During the first quarter of 2026, exploration expenditures at DDGM increased as the Company continued to engage in strategic planning and prioritization of regional surface exploration activities across multiple projects, including Alta Gracia, Margaritas, Chamizo, El Rey, and Jabali, while limited surface expansion drilling also commenced, testing the Isabel SE target. Underground grade-control, infill, and selective expansion drilling continued to focus on near-term production targets at Arista and at the Alta Gracia project. At Arista, drilling supported production planning and refinement of the geologic model for veins within the Arista system, including the Viridiana, Gisela, Candelaria, Marena North and Splay 31 veins, as well as for veins within the Three Sisters system, focused on the Sandy and Sadie vein sets. At the Alta Gracia Project, surface and underground infill and expansion drilling advanced evaluation of the Mirador and Independencia vein systems.\n\n​\n\nGold Resource Corporation—Condensed Consolidated Interim Financial Statements and Notes (Unaudited)\n3\n\n[Table of Contents](#Toc)\n\n**PART I - FINANCIAL INFORMATIO****N**\n\n​"}