Gogold Resources Stock Price, News & Analysis

GoGold Resources Inc. announced significant drill results from the El Nayar and Gran Cabrera areas within the Los Ricos North property. Notably, El Nayar yielded an impressive 2,192 g/t AgEq over 1.3m, while Gran Cabrera reported 905 g/t AgEq over 1.6m. These results from 6 and 15 drill holes respectively signify potential for future resource development. The company has shifted drilling efforts to Los Ricos South, anticipating growth opportunities. Despite encountering historical mining voids, the exploration program aims to identify high-grade areas yet to be mined.

GoGold Resources announced promising drill results from the El Favor East deposit in the Los Ricos North property. Highlights include Hole LRGF-22-136, which intersected 1.1m of 1,625 g/t silver equivalent (AgEq) within 47.6m of 147 g/t AgEq, and Hole LRGF-22-124, yielding 0.9m of 1,835 g/t AgEq within 22.0m of 134 g/t AgEq. These results indicate strong mineralization and potential for both open pit and underground mining. The exploration team has extended mineralization by 900m, showcasing the significant bulk tonnage and high-grade portions of this zone.

GoGold Resources (OTCQX: GLGDF) reported its Q3 2022 financial results, with revenues of $10.4 million from the sale of 512,670 silver equivalent ounces. The realized price per ounce stood at $20.26. Despite lower silver prices, Parral generated $3.7 million in free cash flow. Total cash at quarter end was $73.8 million. The company's focus remains on advancing the Los Ricos project with ongoing drilling and engineering studies. However, production was down 15% from the previous quarter due to a transition in operational zones.

GoGold Resources reported production for the quarter ending June 30, 2022, totaling 509,796 silver equivalent ounces. This comprised 213,495 silver ounces, 3,081 gold ounces, and 98 tonnes of copper. The CEO noted that production levels are stabilizing, contributing positively to cash flow and supporting general administrative costs as well as exploration expenditures at Los Ricos. The company's ongoing focus is on operating and expanding its existing projects in Mexico.

GoGold Resources (GLGDF) announced promising drill results from 6 holes at the El Favor East deposit in the Los Ricos North property. Notably, hole LRGF-22-118 revealed 2.0m of 1,124 g/t silver equivalent (AgEq) within a broader intersection of 18.8m at 203 g/t AgEq. This indicates the potential for significant mineralization as drilling shows a 900m extension of mineralization in the eastern area. The company is focusing on further exploration, expecting updates on their ongoing Gran Cabrera program and land consolidation efforts soon.

GoGold Resources Inc. (TSX: GGD, OTCQX: GLGDF) announced positive metallurgical testing results for its Los Ricos South deposit. The successful completion of the Pre-Feasibility Study (PFS) optimization at SGS Laboratories indicates high gold and silver recoveries of 92-97% and 82-88%, respectively. The PFS activities are progressing, focusing on process design and major equipment sizing. With resource expansion efforts, the company has increased its mineral concessions from 29 to 44. The ongoing testing aims to enhance cost efficiency through the SART technology for cyanide recovery.

GoGold Resources announced second fiscal quarter results for 2022, reporting $10.3 million in revenue from 443,942 silver equivalent ounces sold at a realized price of $23.28 per ounce. The company generated $4.4 million in free cash before working capital changes. Total cash reserves stood at $83.3 million. Production decreased due to transitioning tailings zones, impacting leaching efficiency. Cash investment in heap inventory was $3.1 million, expected to benefit future production. The company drilled 21,052 metres during the quarter, as part of its ongoing exploration activities.

GoGold Resources has announced its quarterly production results for the period ending March 31, 2022, reporting a total of 455,991 silver equivalent ounces. This includes 186,655 silver ounces, 2,791 gold ounces, and 125 tonnes of copper. The Parral mine continues to generate significant cash flow, supporting operational costs and exploration budgets for the Los Ricos project. The release highlights the company's focus on enhancing shareholder value through its ongoing projects in Mexico.