Wednesday, August 17, 2011
Gold Resource Corporation Minting its Own Gold Coins
The Board of the junior US based Gold Resource Corporation has stated it will be holding some of its in house treasury in physical gold and silver in the form of coin bullion rather than cash.
The Company’s board have stated it has approved the company minting around one million dollars with of its own gold and silver into one ounce coins with this increasing proportionately as production increases. They will also possibly offer shareholders the chance to receive their dividends in silver and gold also rather than cash.
In a release issued by the company on the move, the company's President, Jason Reid, stated, "Holding physical gold and silver in our treasury provides an excellent means of diversification in light of today's world economic conditions and not only provides that diversification to shareholders but underscores Gold Resource Corporation's commitment to precious metals.. Minting Gold Resource Corporation's Double Eagle precious metal coins, currently underway, not only marks the next Company milestone but takes a large step towards potentially offering our shareholders a future in-kind dividend. With the unprecedented printing of fiat currencies around the world and the potential negative impact of governmental policies of various nations around the globe, Gold Resource Corporation provides investors excellent precious metal exposure from an increasing production profile, from dividends and now with physical exposure in the Company's treasury."
In its recent press release, the Company states it "is focused on its comprehensive business plan to become the “go to” gold investment (see image below). Part of that multipronged approach consists of holding a portion of its treasury in physical gold and silver as well as possibly offering shareholders holding certain minimum positions the ability to someday receive their dividends in-kind."
The Company has returned over $22 million to shareholders in special monthly dividends since declaring commercial production July 1, 2010.
Posted by Michael Moore at 6:55 PM