GoGold Resources Quarterly Production Falls 16% Due To COVID-19

GoGold Resources (TSX: GGD) this morning announced production of 504,444 silver equivalent ounces for the period ended June 30, 2020. On a quarter over quarter basis, production was down a total of 16%, which is largely said to be a result of the ongoing coronavirus pandemic.

Outside of silver equivalents, the company announces a total of 20,044 silver ounces, 1,914 gold ounces, and 104 tonnes of copper. Production was reduced on a quarter over quarter basis due to the partial shutdown of the Parral mine due to COVID. Pre-pandemic levels of production are now said to be nearly re-instated.

Economic impact of the reduced production rate however is said to be minimal, thanks largely in part to the appreciating price of silver. Cash flows are said to be similar to the previous quarter. Full revenue figures were not released as of yet.

GoGold Resources last traded at $1.22 on the TSX.


Information for this briefing was found via Sedar and GoGold Resources. 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.

Video Articles

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

First Majestic Q2 Earnings: Another Record Quarter

Sandstorm Gold Fades Into Royal Gold Merger

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Seabridge Gold: 47 Million Ounces and Counting

At the Rule Symposium in Boca Raton, Florida, Rudi Fronk, Chairman & CEO of Seabridge...

Thursday, July 11, 2024, 09:32:00 AM

Gold Headed for a Whirlwind as Prices Plummet by Most in Over 7 Years

It appears that risk aversion has finally begun to decline amid the coronavirus pandemic, as...

Tuesday, August 11, 2020, 05:10:20 PM

O2Gold To Begin Draining Aurora Mine In Q4, Production To Commence Next Year

O2Gold Inc (TSXV: OTGO) has seen a drill moved to its brownfield property. The company...

Tuesday, October 26, 2021, 07:55:19 AM

Skeena Resources Consolidates Shares At 4 To 1 Ratio

Skeena Resources (TSX: SKE) this morning issued a brief press release, indicating that it has...

Thursday, June 10, 2021, 09:30:52 AM

Gold Rallies upto 7% as Central Banks Around the Globe Continue to Print their Way Out of the Coronapocalypse

This morning Gold has rallied approaching 7 year highs. We can see Gold is pushing...

Tuesday, March 24, 2020, 09:41:47 AM