GoGold Resources Reports 36% Production Surge in Q4 2024, Driven by Parral Optimization
GoGold Resources reported a significant production increase for the quarter ending December 31, 2024, totaling 551,337 silver equivalent ounces. This output consisted of 226,343 ounces of silver, 3,213 ounces of gold, 121 tonnes of copper, and 161 tonnes of zinc.
The surge in production represents a 36% increase compared to previous quarters, attributed to the successful performance of the newly completed SART Zinc circuit at the Parral project. This optimization has not only boosted base metal production but also improved the leachability of gold and silver in the heap leach process.
President and CEO Brad Langille highlighted that Parral's enhanced performance will continue driving production gains into 2025. The company's cash balance grew from $72 million on September 30 to $76 million by year-end, reinforcing Parral’s role in funding the upcoming construction of the Los Ricos South project.
Key Milestones for 2025:
- Continued growth in cash flow from Parral to support Los Ricos South construction.
- Imminent release of the Definitive Feasibility Study (DFS) for Los Ricos South.
- Expected permit approval for the Los Ricos South underground mine by March 2025.
- Progress on securing project financing for Los Ricos South, with advanced discussions underway.
- Anticipated final construction decision for Los Ricos South post-DFS, permitting, and financing.
- Ongoing near-mine exploration at Los Ricos South to expand resources during construction.
- Further drilling and technical advancements at Los Ricos North to progress toward permitting.
Quarterly Production Summary:
| Quarter Ended | Silver (oz) | Gold (oz) | Copper (t) | Zinc (t) | Silver Equivalent (oz) |
|---|---|---|---|---|---|
| Sep 2023 | 169,443 | 1,106 | 115 | - | 300,789 |
| Dec 2023 | 109,016 | 1,848 | 95 | - | 300,260 |
| Mar 2024 | 138,657 | 2,184 | 93 | 92 | 375,745 |
| Jun 2024 | 138,708 | 2,436 | 148 | 125 | 400,236 |
| Sep 2024 | 167,001 | 2,232 | 132 | 100 | 406,150 |
| Dec 2024 | 226,343 | 3,213 | 121 | 161 | 551,337 |
The silver equivalent production includes gold, copper, and zinc, converted based on average market metal prices for each period.
