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Gold miner minting gold & silver coins - to pay dividends in kind!

Gold miner minting its own gold and silver coins - looking to pay dividends in kind! Maverick U.S. based gold miner, Gold Resource Corporation (Amex Ticker: GORO), with operations in Mexico, has announced it is minting its own gold and silver coins and holding part of its treasury in precious metals.
http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=13...

Junior, U.S-headquartered gold miner, Gold Resource Corporation (GRC; Amex: GORO) has ... some of its in-house treasury in physical gold and silver rather than cash in a move that will undoubtedly further increase its appeal to the gold-owning fraternity..

In reporting strong second quarter figures which have seen new production, revenue and dividend payout records, the company's board has announced that it has approved the company minting approximately US $1 million worth of its own one ounce gold and silver coins.



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excellent.

excellent.

Yep it is

I think Sinclair has a similar plan for shareholders of Tanzanian Royalty Exploration. I may be wrong on that, but I believe that's his plan.

Ta,

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There was another company a few years ago that talked of doing

the same thing - Constitutional Mining Corp. It turned out to be a vapor company. I think they ended up under investigation.

It looks though that this is an already established company, or am I missing something?

Promise gold, the Printers-That-Be (PTB) will investigate.

Please update your records. Unrelated. The company you refer to does still exist. Not much gold. Just changed their name April Fool's day. Seems that are just in their test phase, starting to dig in Peru.

Constitution Mining Corp. Changes Name to GoldSands Development Company
Press Release Source: GoldSands Development Company On Friday April 1, 2011, 8:00 am EDT [Coincidentally April Fool's Day]
LIMA, PERU--(Marketwire - April 1, 2011) - GoldSands Development (OTCBB:GSDC - News) announces that the Company's name has been changed from Constitution Mining Corp. (Old Symbol: OTCBB:CMIN - News) to GoldSands Development Company. Effective tomorrow the company's new trading symbol on the OTCBB is (GSDC.OB) and GoldSands Development Company new website is located at www.goldsandsco.com

... focus... development of the entire region where the company is working in Peru. Our company is working... well beyond mining operations. In addition, ... any project with a high business potential in relation with our gold exploration efforts. We accept responsibility, act in a trustworthy fashion, and focus on building long-term relationships for development of the region of Manseriche and Loreto in the best interests, not only of Peru, but for our investors and shareholders as well.

Michael Stocker, Constitution Mining's CEO states: "Constitution Mining Corp's new name, GoldSands Development Company, more closely aligns with the efforts which we are making in regard to what we hope will be the commercialization of our Peruvian GoldSands Properties. It symbolizes our desire to be positioned for the long haul, as we seek to participate in the multidimensional possibilities which we feel this area has for future development. Management believes that this name change more accurately and fully identifies the thrust and scope of our evolving business model. It takes place alongside the implementation, as announced in a recent News Release, of our much-anticipated GoldSands properties test production project."

[Lots of management words to support a name change of a test project, yet to achieve "commercialization." They have just begun to dig.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Hmm.. That's official line - try these on for size:

http://incakolanews.blogspot.com/2010/03/catching-up-with-co...

http://incakolanews.blogspot.com/search/label/constitution%2...

There are plenty of links contained therein.

Looks like it was nothing but a pump and dump scam. And now their main source of metal is being (or by now has been) declared off limits.

Good coo berating evidence. Golden dividends will be news.

Our replies match. References to this "April Fools" joke of a mining company planning & testing for years... panned out. A fraud.

I have reported on mining frolic fraud first hand in California & Nevada. Read my reporting from the 1860s.

Gold Resource Corporation (GRC; Amex: GORO) is in Mexico. They have gold. They sent out a press release about offering their upcoming dividend in gold. Their planning dividend payment in gold is what caught my attention.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

fireant's picture

GORO is an established producer.

They are diversifying their cash into metals with the intent of paying them out in dividends later. Here's the press release: http://www.goldresourcecorp.com/releases/GRC-2011-08-17-1.pdf

Undo what Wilson did