Gold Resource Corporation (NYSEAMEX:GORO) Long-Term Investor Investigation over possible Wrongdoing

PRLog (Press Release) - Jan. 7, 2013 - An investigation on behalf of current long term investors in shares of Gold Resource Corporation (NYSEAMEX:GORO) was announced concerning whether certain directors and officers of Gold Resource Corporation (NYSEAMEX:GORO) breached their fiduciary duties in connection certain financial statements.

Investors who are current long term investors in Gold Resource Corporation (NYSEAMEX:GORO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The investigation by a law firm for current long term investors in Gold Resource Corporation (NYSEAMEX:GORO) stocks follows a lawsuit filed earlier against Gold Resource Corporation over alleged securities laws violations.

The investigation on behalf of current long term investors in Gold Resource Corporation (NYSEAMEX:GORO) concerns whether certain Gold Resource officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of Colorado the plaintiff alleges that Gold Resource Corporation violated the Securities Exchange Act of 1934 by issuing between January 30, 2012 and October 17, 2012, allegedly materially false and misleading statements regarding Gold Resource’s operational status and financial projections.

Gold Resource Corporation is engaged in the exploration for and production of gold and silver in Mexico’s southern State of Oaxaca.

On July 19, 2012, after the market closed, Gold Resource Corporation reported its preliminary production results for the second quarter ended June 30, 2012. Gold Resource Corporation said its second quarter production was lower than expected and as a result the Company revised its 2012 Outlook.

Shares of Gold Resource Corporation (NYSEAMEX:GORO) dropped from $25.24 per share on July 19, 2012, to $17.10 per share in July 23, 2012.

On July 24, 2012 and on August 28, 2012, Gold Resource Corporation declared its respective monthly dividends. Then on August 9, 2012, Gold Resource Corporation announced results for its second quarter ending June 30, 2012. Among other things, Gold Resource Corporation said that its production increased 8% over the prior year quarter. For the second quarter in 2012 Gold Resource Corporation reported an increase in its second quarter Revenue from $20.66 million in 2011 to $30.01 million in 2012 and that its second quarter Net Income rose from $3.14 million in 2011 to $3.60 million in 2012.

Shares of Gold Resource Corporation (NYSEAMEX:GORO) reached in September 2012 $22.25 per share.

Then on October 17, 2012, after the market closed, Gold Resource Corporation (NYSEAMEX:GORO) reported its preliminary production results for the third quarter ended September 30, 2012 and revised its production outlook. On October 18, 2012, Gold Resource Corporation announced it appointed a new General Manager for its mining unit in in Oaxaca,Mexico and on November 12, 2012, Gold Resource Corporation announced that it hired a new Vice President of exploration.

Then on Nov. 15, 2012, Gold Resource Corporation reported its third quarter 2012 financial results.


Shares of Gold Resource Corporation (NYSEAMEX:GORO) declined from as high as $27.83 per share in June 2012 to as low as $12.24 per share on Nov. 15, 2012.

On January 4, 2013, NYSEAMEX:GORO shares closed at $14.32 per share, which is significantly below its current 52 week High.

Those who are current long term investors in Gold Resource Corporation (NYSEAMEX:GORO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

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