Gold Resource Corporation is engaged in the exploration for and production of gold and silver in Mexico. As of December 31, 2011, the Company held a 100% interest in six properties in Mexico�s southern State of Oaxaca. During the year ended December 31, 2011, the Company produced a total of 66,159 ounces of gold equivalent from the El Aguila Project. During 2011, the Company�s exploration was focused primarily on the El Aguila Project. The Company classifies its mineral properties into two categories: Operating Properties and Exploration Properties. Operating Properties are properties on which the Company operates a producing mine. As of December 31, 2011, the Company had interest in six properties, one Operating Property and five Exploration Properties, in the southern state of Oaxaca, Mexico. In June 2011, the Company acquired an additional property between the El Rey property and Alta Gracia property, referred as the El Chamizo property.