GoGold Resources Inc. (TSX: GGD) reported this morning the production results for the fiscal year ending September 30, 2021 at its Parral Tailings mine in the state of Chihuahua, Mexico. The annual results highlighted a silver equivalent production of 2.27 million ounces, marginally lower than the previous year’s 2.30 million ounces.
The annual production of silver equivalent consists of 1.14 million silver ounces, 13,447 gold ounces, and 470 copper tonnes.
On a quarterly basis, Parral produced 526,044 silver equivalent ounces for the three-month period ending September 30, 2021, compared to the previous quarter’s production of 575,302 silver equivalent ounces and the previous year’s 605,287 silver equivalent ounces.
“Parral in 2021 proved to be a very stable operation, producing 2.3 million silver equivalent ounces similar to the prior year, and generated in excess of $US 22 million in free cash flow over the year,” said GoGold CEO Brad Langille.
The mining firm said that the reinvestment of the cash flow generated into the Los Ricos project is going to generate “exceptional value growth for [its] shareholders”.
In September 2021, the company reported assay results from the newly-drilled Mololoa deposit at the Los Ricos North project, highlighting an intersect of 1,956.3 g/t silver equivalent over 1.0 metre within a larger interval of 525.7 g/t silver equivalent over 6.1 metres.
GoGold Resources Inc. last traded at $2.88 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.