GoGold Resources Reports Record US$72.5 Million Revenue in 2025

GoGold Resources announced its financial results for the fiscal year ending Sep. 30, 2025, reporting a doubling of revenue from its Parral Tailings project in Chihuahua. The company noted that the obtained liquidity will help it de-risk its Los Ricos South in Jalisco.

GoGold generated a record US$72.5 million in revenue, driven by the sale of 2.1Moz AgEq and higher realized metal prices. The company reported a net income of US$17.3 million for 2025, supported by cash flows from operations totaling US$26 million. During the fiscal period, GoGold realized an average silver price of US$33.8/oz. Operational costs were reported with an adjusted cash cost of US$18.35/oz AgEq and an all-in sustaining cost (AISC) of US$23.72/oz.

Production for the year totaled 2.15M AgEq. The metal breakdown included 851,102oz of silver, 12,289oz of gold, 476t of copper, and 609t of zinc.

Brad Langille, President and CEO, GoGold Resources, highlighted the company's strengthened financial position following a recent financing round. While the company ended the fiscal year with US$141.1 million in cash, a subsequent CA$143 million bought deal financing completed last month has pushed the current cash balance to over US$240 million with no debt. Langille noted that this liquidity de-risks the execution phase of the Los Ricos South (LRS) project, which has an estimated construction capital cost of US$227 million.

Regarding future developments, the company plans to commence construction at Los Ricos South in 2026. Simultaneously, GoGold intends to advance the Los Ricos North project towards feasibility and permitting. 

Los Ricos Project

On Apr. 10, 2025, MBN reported that GoGold closed a bought deal offering generating gross proceeds of CA$86.2 million (US$63.7 million) to support the development of LRS. The project's feasibility study outlines a US$227 million construction budget for a 15-year mine life, projected to produce 80Moz AgEq in total. The operation is designed to start with 12 years of underground mining before transitioning to an open-pit method, with an average annual output of 7.3 million AgEq during the first five years.

The company also aims to advance the nearby Los Ricos North project, located 25km away. A Preliminary Economic Assessment (PEA) completed in 2023 for this asset estimates a net present value of US$413 million. Meanwhile, LRS holds proven and probable reserves of 10.2Mt grading 145.4g/t silver, 1.39g/t gold, and 0.1% copper.