Gold Resource Corp. (GORO.OB) Announces $20 Million Private Placement
Gold Resource Corp. was pleased to announce today that Hochschild Mining plc has agreed to a $20 million private placement, purchasing 5 million restricted shares of GRC's common stock at $4.00 per share. According to the press release, the capital will primarily be used at the company’s Aguila Project in the state of Oaxaca, Mexico. Hochschild's holdings in GRC now totals to approximately 24%. Gold Resource Corporation's president, William W. Reid stated, "We are pleased to have the continued support and financial assistance of Hochschild Mining during these final phases of project construction. Hochschild has and is assisting us in…