Ravitaliy
A “Hold” rating for shares of GoGold Resources Inc.
GoGold Resources Inc. (OTCQX:GLGDF) (TSX:GGD:CA) is a Canadian silver and gold producer with over 15 years of precious metals mining and exploration experience. The company operates the Parral Tailings mine, located 93 km southwest of Camargo, Chihuahua, Mexico. There, the company produced 375,745 silver equivalent ounces (or SEOs) in Q1 2024 (which for GoGold corresponds to the second fiscal quarter of 2024) at $24.20 in adjusted all-in sustaining costs per silver equivalent ounce (or “AISC/SEO”).
How the company is Performing
Although production was still 6.1% lower year-on-year and AISCs/SEO were higher (up 22.5% year-on-year), SEO production improved in calendar Q1 2024 compared to the previous three quarters: To recover more ounces of silver and gold, a SART-zinc circuit technology was recently commissioned at the gold cyanidation plant, resulting in the first…
