Welcome to our dedicated page for Gogold Resources news (Ticker: GLGDF), a resource for investors and traders seeking the latest updates and insights on Gogold Resources stock.
News and updates for GoGold Resources Inc. (OTCQX: GLGDF) center on its silver and gold operations and projects in Mexico. The company’s releases describe ongoing production from the Parral Tailings mine in Chihuahua, as well as exploration and development activity at the Los Ricos South and Los Ricos North projects in Jalisco.
Investors following GLGDF news can review regular production reports from Parral, where GoGold discloses silver equivalent ounces produced and sold, along with underlying silver, gold, copper and zinc outputs. These updates often include commentary on how Parral’s cash flow supports project spending and corporate costs.
GoGold also issues quarterly and annual financial results that summarize revenue, operating income, net income and cash flow from operations. These releases describe how non-GAAP measures such as adjusted cash costs per ounce and adjusted all-in sustaining costs per ounce are used to analyze mine performance, with references to detailed reconciliations in management’s discussion and analysis.
Another key theme in the company’s news is exploration and technical progress at Los Ricos South. GoGold publishes assay results from drilling in zones such as Eagle, Abra, South Abra, Los Lamas and Cerro Colorado, along with information on geophysical surveys and geotechnical drilling that support resource definition and mine planning.
Capital markets activity also appears in GLGDF news, including bought deal equity financings intended to fund exploration and development at Los Ricos and for general corporate purposes, as well as participation in investment conferences focused on metals and mining. For a consolidated view of these developments, this news page brings together GoGold’s production updates, financial disclosures, project drilling results and financing announcements in one place.
GoGold Resources has announced significant drilling results from the Casados deposit in its Los Ricos North project, revealing two new mineralized veins. The initial 9 diamond drill holes showed that Casados Vein 1 is mineralized over widths exceeding 20 meters, with some intervals reaching up to 56.5 meters at 171 g/t silver equivalent. The discovery is expected to contribute to a significant Mineral Resource Estimate in 2021. The company plans to continue drilling to further explore these promising finds.
GoGold Resources reported outstanding financial results for the quarter ending December 31, 2020, achieving record revenue of $14.1 million from the sale of 601,551 silver equivalent ounces. The company generated $5.9 million in cash flow from operations, with a net income of $4.2 million (or $0.016 per share). The Parral operation yielded $6.7 million in free cash flow, covering all exploration and administrative costs. With a cash balance of $56.4 million, GoGold is positioned to enhance shareholder value by accelerating developments at the Los Ricos projects.
GoGold Resources reports significant drill results from La Trini in the Los Ricos North Project. Drill hole LRGT-20-096 returned 11.4m of 101 g/t silver equivalent, including 0.8m of 1,233 g/t AgEq. The company has now released results from 96 holes, with a 100,000m drill program ongoing, indicating a robust mineralized system. The upcoming resource estimate aims to encompass La Trini and other areas like El Favor and Casados. GoGold's exploration potential remains significant in the Los Ricos district, with major drilling efforts expected to continue.
GoGold Resources Inc. (OTCQX:GLGDF, TSX:GGD) will present at the virtual Fall Investor Summit from November 16-18, 2020. This summit features 75 companies and over 300 investors, facilitating connection between smallcap and microcap firms and qualified investors. GoGold, a Canadian silver and gold producer with projects in Mexico, is led by a management team experienced in mine development. They aim to turn properties into profitable mines while leveraging extensive relationships and capital strategies.