Tags: Gold | Miner | Dividend | bullion

Colorado Gold Miner Plans Dividend Payments in Gold Bullion

By    |   Tuesday, 11 Oct 2011 08:11 AM

Gold may have dropped 13 percent from the $1,900 an ounce level that it reached in August, but the metal hasn’t lost its shine in many investors’ eyes.

And now Gold Resource Corp., a Colorado Springs, Colo. gold miner, plans to pay a dividend in gold bullion rather than in dollars, The Wall Street Journal reports.

The company has operations in southern Mexico and plans to make its first dividend payment in the next few months, says President Jason Reid.
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In August, the company began buying $1 million worth of gold and silver, so that it can distribute one troy ounce gold and silver shares every month.

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 (Getty Images photo)
"Many investors would rather hold physical gold or silver rather than fiat currencies that will continue to be debased," Reid says.

Dividing gold into tiny enough portions for small investors may prevent gold dividends from turning into a trend.

But Ian Lawrence, managing director of Cobar Consolidated Resources in Australia, says, "There's been a lot of interest from shareholders," in the possibility, The Journal reports. And he thinks it’s a "great idea."

Meanwhile, some gold market participants expect the precious metal to resume its climb to record highs.

Morgan Stanley analysts predict gold will have the best performance of any commodity next year. In a report obtained by Bloomberg, they forecast a 34 percent rise to $2,200 for gold next year, with a possibility of $2,464.

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Gold may have dropped 13 percent from the $1,900 an ounce level that it reached in August, but the metal hasn t lost its shine in many investors eyes. And now Gold Resource Corp., a Colorado Springs, Colo. gold miner, plans to pay a dividend in gold bullion rather than in...
Gold,Miner,Dividend,bullion
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2011-11-11
Tuesday, 11 Oct 2011 08:11 AM
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