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 Ended||Dec 2019||Mar 2020||Jun 2020||Sep 2020||Dec 2020||Mar 2021|
|Silver Production (oz)||379,082||365,795||270,044||300,740||298,591||302,933|
|Gold Production (oz)||2,407||2,355||1,914||3,414||3,632||3,208|
|Copper Production (tonnes)||–||28||104||128||125||86|
|Silver Equivalent Production (oz)1||584,988||600,697||504,4442||605,287||614,149||551,207|
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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.