GoGold Sees Production Uptick In June Quarter
Production figures for GoGold Resources (TSX: GGD) appear to be returning slowly to normal levels after two quarters of declining performance. The firm this morning revealed production data for the quarter ended June 30.
Production for the quarter amounted to 213,495 ounces of silver, an improvement over the 186,655 ounces produced in the prior quarter, while gold production grew to 3,081 ounces from 2,791 ounces. In terms of silver equivalents, production rose to 509,796 silver equivalent ounces, an improvement over the 455,991 equivalent ounce figure produced in the first calendar quarter.
On a year over year basis however, production was still down from 575,302 equivalent ounces, with the June quarter of 2021 being the strongest production quarter in the last six quarters.
“Parral production continues to trend higher to normal rates and continues to provide meaningful cash flow contributing to the general and administrative costs and the Los Ricos exploration expenditures,” commented CEO Brad Langille.
The company is currently guiding for production of 2.0 to 2.2 million silver equivalent ounces for the full fiscal year. Production numbers over recent quarters was reportedly impacted by a transition between different zones in a tailings deposit.
GoGold Resources last traded at $1.77 on the TSX.
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