Gold Resources Produced 66,125 Ounces of Gold Equivalent in '11

Denver-based Gold Resource Corp. said Monday it produced about 66,125 ounces of precious metal gold equivalent last year, of which about 19,900 ounces were produced in the fourth quarter.

The company, which operates several facilities in the southern Mexico state of Oaxaca, said last year's output was in line with its outlook of 60,000 to 70,000 ounces of precious emtal gold equivalent.

As part of its normal operating procedure, the Aguila mill was shut down during the last 10 days of 2011 and the first five days of 2012 for routine yearend maintenance, holidays and installation of an expanded cleaner flotation circuit.

Gold Resources says it expects 2012 production in a range of 120,000 to 140,000 ounces of precious metal gold equivalent.

Cash costs per ounce are expected to be $50 to $150 per ounce this year.