GoGold Resources (TSX: GGD) was one of several producers this morning to report its fourth quarter production results. The company saw production of 551,337 silver equivalent ounces during the quarter.
Production further broke down into 226,343 silver ounces, 3,213 gold ounces, 121 tonnes of copper and 161 tonnes of zinc.
For the full fiscal year, production totaled 1.7 million silver equivalent ounces, which breaks down into 670,709 ounces of silver, 10,065 ounces of gold, 494 tonnes of copper and 478 tonnes of zinc.
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“Parral’s SART Zinc circuit, which was completed in 2024, has exceeded expectations on both base metal production and has increased the leachability of gold and silver in the heap as well, which is driving the 36% increase in production which we saw this quarter. We expect the benefits of this optimization to continue through 2025,” commented Brad Langille, CEO of GoGold.
The company finished the year with a cash balance of $76.0 million, an increase from $72.0 million as of the end of the third quarter.
Looking to 2025, the company has indicated that it expects the release of a definitive feasibility study for Los Ricos South to occur imminently. A permit for underground mining is expected to be received by the end of March for the project, with project financing expected to be secured shortly thereafter. A construction decision is expected to be made later this year.
GoGold Resources last traded at $1.19 on the TSX.
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