GoGold Reports 36% Production Increase in 4Q24

GoGold Resources announced its production results for 4Q24, with the company reporting production of 551,337oz of silver equivalent (AgEq). The company considers recent upgrades at its El Parral tailings mine in Chihuahua to be the main drivers of the quarter’s production. 

GoGold’s production for 4Q24 is 36% larger than the previous period and consists of 226,343oz of silver, 3,213oz of gold, 121t of copper, and 161t of zinc. The company attributed the 36% increase in production to the successful operation of Parral’s SART Zinc circuit, which was completed in 2024.

According to Brad Langille, President and CEO, GoGold, the new circuit has exceeded the company’s expectations, both in base metal production and in enhancing the leachability of gold and silver in the heap. Langille also highlighted that the benefits from this optimization are expected to continue into 2025. “We believe Parral will prove to be a significant source of additional capital as we embark on anticipated construction of Los Ricos South,” he added, noting that GoGold increased its cash balance from US$72 million to US$76 million.

Looking ahead to 2025, GoGold outlined several key milestones, including the anticipated release of the Los Ricos South Definitive Feasibility Study (DFS) and expectations for a positive outcome on its permit application for the Los Ricos South underground mine by the end of March 2025. Discussions with prospective lenders regarding project financing are in advanced stages, and the company is confident about securing the necessary funds for construction.

GoGold also emphasized its ongoing exploration efforts at Los Ricos South, which are expected to continue alongside construction activities. Furthermore, the company plans to advance its Los Ricos North project with additional drilling, engineering, and technical reports, intending to move toward the mine’s permitting stage.