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3/23/15

Gold Resource Corp (GORO) and its brilliant strategy for returning a quarterly net profit

Gold Resource Corp (GORO) managed to file a $3.4m profit in 4q14, that's a 6c EPS. And the company's groundbreaking technique for doing it was...

...don't pay your $7.9m tax bill. Wow, why hasn't anyone ever thought of this before? Brilliant business acumen that's only matched by those buying the stock back over $3 this morning, if ever a bunch of shareholders were perfectly matched to their management team, it's on this one. Data here.

PS: This is a good bit from the financials, too. Page 15:
In our opinion, because of the effect of the aforementioned material weakness on the achievement of the objectives of the control criteria, Gold Resource Corporation and subsidiaries have not maintained effective internal control over financial reporting as of December 31, 2014, based on criteria established in Internal Control—Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

That was signed by KPMG, the independent auditors of GORO. But hey, details right?