GoGold Resources Sees Silver Equivalent Ounces Production Decline 10%

GoGold Resources (TSX: GGD) this morning provided a brief update to the market in terms of its quarterly production figures for its Parral operation. The operation for the quarter ended March 31, 2021, managed to produce 551,207 silver equivalent ounces.

The silver equivalent ounces reportedly consisted of 302,933 silver ounces, 3,208 gold ounces, and 86 tonnes of copper, with the operation generating free cash flow of an estimated US$5.5 million. That free cash flow has now funded exploration for the firm for three consecutive quarters at its Los Ricos property.

The production figure, despite producing significant cash flow for the firm, however is down 10.2% from the prior quarter, which posted silver equivalent production of 614,149 ounces. Further, the results were the second-worst production figures that the company has seen over the last six quarters, as seen below, with the worst quarter, experienced for the period ended June 30, was a result of a partial operational suspension. No reasoning for the poor results was provided.

Quarter EndedDec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021
Silver Production (oz)379,082365,795270,044300,740298,591302,933
Gold Production (oz)2,4072,3551,9143,4143,6323,208
Copper Production (tonnes)2810412812586
Silver Equivalent Production (oz)1584,988600,697504,4442605,287614,149551,207

GoGold Resources last traded at $2.56 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.

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