Gold Resource Corp. announced its large grinding ball mill has arrived on site and that open pit mining and stockpiling of ore has begun in preparation for operations at its El Aguila Project in the southern state of Oaxaca, Mexico. Subject to the delivery of the remaining equipment and construction schedules, GRC targets production at its El Aguila Project in 2009 which could make the young company a major power in the financial world.
With the arrival of the largest ball mill on Sunday, August 16, 2009, Lyntek Inc., the projectâ€™s engineering, procurement and construction manager, has their grinding mill expert on site for installation. GRCâ€™s second, smaller ball mill, which was fabricated in Peru, has arrived in Mexico and will be shipped to the site shortly.
GRC is in the final phase of mill construction with the mechanical/electrical contract underway. Most of the equipment has arrived on site and being installed. Through their hard work and diligence, GRC is making a major push for production as soon as possible in 2009.
When asked what this will mean to GRC, William W. Reid, the company President said, “Having recently obtained the permits necessary to mine our El Aguila open pit deposit we are pleased to now have only to finish construction for production to begin.”
As of Monday morning, GRC was trading in the $5.00 range and had dropped $0.24, but for the year, the young company has realized a profit of 48.02% and has far surpassed its 52-week low of $2.00. With the aggressive nature of Gold Resource Corporation, this company may be a hidden gem that you can find over-the-counter.