GoGold Releases Financial Results for Q1 2025 including Record $19.1 Million Revenue at Parral and Announces New Director
GoGold Resources reported strong financial results for Q1 2025, with record revenue of $19.1 million from the sale of 625,972 silver equivalent ounces at Parral. The company's cash position increased by $4.3 million to $76.0 million, with operating cash flow of $7.9 million.
Production reached 551,337 silver equivalent ounces, including 226,343 silver ounces, 3,213 gold ounces, and significant copper and zinc output. The adjusted cash cost was $19.33 per silver equivalent ounce, with an all-in sustaining cost of $22.45.
The company's SART Zinc circuit, implemented last year for $2 million, has contributed to Parral's record performance. Additionally, GoGold appointed Jorge Aguirre, an experienced civil engineer and construction executive, to its Board of Directors.
GoGold Resources ha riportato risultati finanziari solidi per il primo trimestre del 2025, con un fatturato record di $19,1 milioni derivante dalla vendita di 625.972 once equivalenti d'argento a Parral. La posizione di liquidità dell'azienda è aumentata di $4,3 milioni, raggiungendo i $76,0 milioni, con un flusso di cassa operativo di $7,9 milioni.
La produzione ha raggiunto 551.337 once equivalenti d'argento, comprese 226.343 once d'argento, 3.213 once d'oro e una significativa produzione di rame e zinco. Il costo di cassa rettificato è stato di $19,33 per oncia equivalente d'argento, con un costo sostenibile totale di $22,45.
Il circuito SART Zinc dell'azienda, implementato lo scorso anno per $2 milioni, ha contribuito alla performance record di Parral. Inoltre, GoGold ha nominato Jorge Aguirre, un ingegnere civile ed esecutivo edile esperto, nel suo Consiglio di Amministrazione.
GoGold Resources reportó resultados financieros sólidos para el primer trimestre de 2025, con ingresos récord de $19.1 millones por la venta de 625,972 onzas equivalentes de plata en Parral. La posición de efectivo de la compañía aumentó en $4.3 millones, alcanzando los $76.0 millones, con un flujo de efectivo operativo de $7.9 millones.
La producción alcanzó 551,337 onzas equivalentes de plata, incluyendo 226,343 onzas de plata, 3,213 onzas de oro y una producción significativa de cobre y zinc. El costo de efectivo ajustado fue de $19.33 por onza equivalente de plata, con un costo total sostenible de $22.45.
El circuito SART Zinc de la compañía, implementado el año pasado por $2 millones, ha contribuido al rendimiento récord de Parral. Además, GoGold nombró a Jorge Aguirre, un ingeniero civil y ejecutivo de construcción experimentado, en su Junta Directiva.
GoGold Resources는 2025년 1분기에 강력한 재무 결과를 보고했으며, Parral에서 625,972 실버 등가 온스의 판매로 $19.1 백만의 기록적인 수익을 기록했습니다. 회사의 현금 보유액은 $4.3 백만 증가하여 $76.0 백만에 도달했으며, 운영 현금 흐름은 $7.9 백만이었습니다.
생산량은 551,337 실버 등가 온스에 도달했으며, 여기에는 226,343 실버 온스, 3,213 골드 온스, 그리고 상당한 구리 및 아연 생산이 포함됩니다. 조정된 현금 비용은 실버 등가 온스당 $19.33였으며, 전체 지속 비용은 $22.45였습니다.
회사의 SART 아연 회로는 지난해 $2 백만에 구현되어 Parral의 기록적인 성과에 기여했습니다. 또한, GoGold는 경험이 풍부한 토목 엔지니어이자 건설 경영자인 Jorge Aguirre를 이사회의 일원으로 임명했습니다.
GoGold Resources a rapporté de solides résultats financiers pour le premier trimestre 2025, avec un chiffre d'affaires record de 19,1 millions de dollars provenant de la vente de 625 972 onces équivalentes en argent à Parral. La position de trésorerie de l'entreprise a augmenté de 4,3 millions de dollars pour atteindre 76,0 millions de dollars, avec un flux de trésorerie opérationnel de 7,9 millions de dollars.
La production a atteint 551 337 onces équivalentes en argent, dont 226 343 onces d'argent, 3 213 onces d'or et une production significative de cuivre et de zinc. Le coût de trésorerie ajusté était de 19,33 dollars par once équivalente en argent, avec un coût total durable de 22,45 dollars.
Le circuit SART Zinc de l'entreprise, mis en œuvre l'année dernière pour 2 millions de dollars, a contribué à la performance record de Parral. De plus, GoGold a nommé Jorge Aguirre, un ingénieur civil et un cadre de construction expérimenté, à son conseil d'administration.
GoGold Resources hat für das erste Quartal 2025 starke Finanzzahlen gemeldet, mit einem Rekordumsatz von 19,1 Millionen US-Dollar aus dem Verkauf von 625.972 Silberäquivalent-Unzen in Parral. Die Liquiditätsposition des Unternehmens stieg um 4,3 Millionen US-Dollar auf 76,0 Millionen US-Dollar, mit einem operativen Cashflow von 7,9 Millionen US-Dollar.
Die Produktion erreichte 551.337 Silberäquivalent-Unzen, darunter 226.343 Silberunzen, 3.213 Goldunzen und eine signifikante Produktion von Kupfer und Zink. Die angepassten Bar-Kosten betrugen 19,33 US-Dollar pro Silberäquivalent-Unze, mit Gesamtkosten von 22,45 US-Dollar.
Der SART-Zink-Kreis des Unternehmens, der im letzten Jahr für 2 Millionen US-Dollar implementiert wurde, hat zur Rekordleistung von Parral beigetragen. Darüber hinaus hat GoGold Jorge Aguirre, einen erfahrenen Bauingenieur und Bauleiter, in seinen Vorstand berufen.
- Record quarterly revenue of $19.1 million, up significantly from $6.8 million in Q3 2023
- Cash position increased by $4.3 million to $76.0 million
- Strong operating cash flow of $7.9 million compared to -$3.0 million in prior year
- SART Zinc circuit investment of $2 million showing positive returns
- Net loss of $136,000 compared to net income of $192,000 in prior year
- Adjusted cash cost per silver equivalent ounce increased to $19.33 from $16.83
Halifax, Nova Scotia--(Newsfile Corp. - February 12, 2025) - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") announces the financial results for the quarter ending December 31, 2024, with Parral generating record revenue of
"Parral generated significant cash flows for the Company during the quarter which helped us increase our cash balance by over
Highlights for the quarter ending December 31, 2024:
Cash of
$76.0 million USD, an increase of$4.3 million during the quarterCash flow from operations of
$7.9 million Record revenue of
$19.1 million on the sale of 625,972 silver equivalent ounces at an average realized price per ounce of$30.51 USDProduction of 551,337 silver equivalent ounces, consisting of 226,343 silver ounces, 3,213 gold ounces, 121 copper tonnes, 161 zinc tonnes
Adjusted cash cost per silver equivalent ounce of
$19.33 Adjusted all in sustaining cost per silver equivalent ounce of
$22.45
Following are tables showing summarized financial information and key performance indicators:
| Summarized Consolidated Financial Information | Three months ended Dec 31 | |||||
| (in thousands USD, except per share amounts) | 2024 | 2023 | ||||
| Revenue | $ | 19,098 | $ | 6,799 | ||
| Cost of sales, including depreciation | 13,519 | 6,067 | ||||
| Operating income (loss) | 3,668 | (1,609 | ) | |||
| Net (loss) income | (136 | ) | 192 | |||
| Basic net income (loss) per share | (0.000 | ) | 0.001 | |||
| Cash flow provided by (used in) operations | 7,868 | (3,027 | ) | |||
| Key Performance Indicators1 | Three months ended Dec 31 | |||||
| (in thousands USD, except per ounce amounts) | 2024 | 2023 | ||||
| Total tonnes stacked | 415,161 | 373,884 | ||||
| Silver equivalent ounces sold | 625,972 | 305,087 | ||||
| Adjusted AISC per silver equivalent ounce2 | $ | 22.45 | $ | 24.64 | ||
| Adjusted Cash cost per silver equivalent ounce2 | $ | 19.33 | $ | 16.83 | ||
| Realized silver price | $ | 30.51 | $ | 22.28 | ||
1Key performance indicators are unaudited non-GAAP measures, see reconciliation in MD&A. | ||||||
This news release should be read in conjunction with the interim condensed consolidated financial statements for the quarter ended December 31, 2024, notes to the financial statements, and management's discussion and analysis for the quarter ended December 31, 2024, which have been filed on SEDAR+ and are available on the Company's website.
New Director Appointed
The Company has appointed Jorge Aguirre to its Board, effective February 10, 2025. Mr. Aguirre holds a degree in civil engineering as well as a master's degree in applied public management and is the CEO of a large privately held construction company in Mexico which has been recognized as a socially responsible company. With over 15 years of experience in construction, Mr. Aguirre has extensive experience within the industry, spanning several sectors and specialties and is active in addressing community business and social issues, including acting as president of the Red Cross in Hermosillo, Sonora from 2022 to 2024. "We're extremely pleased to have Jorge join the team. His technical skills, experience and business relationships in Mexico will be invaluable to GoGold as we move forward with our Los Ricos district," said John Turner, Board Chair.
Technical information contained in this news release with respect to GoGold has been reviewed and approved by Mr. Bob Harris, P.Eng., who is a qualified person for the purposes of NI 43-101.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.
For further information please contact:
Steve Low, Corporate Development
GoGold Resources Inc.
T: 416 855 0435
Email : steve@gogoldresources.com
Or visit : www.gogoldresources.com
CAUTIONARY STATEMENT:
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings project, the Los Ricos project, future operating margins, future production and processing, and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with the GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
Cautionary non-GAAP Measures and Additional GAAP Measures
Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies.
Additional GAAP measures that are presented on the face of the Company's consolidated statements of comprehensive income include "Operating income (loss)". These measures are intended to provide an indication of the Company's mine and operating performance. Per ounce measures are calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. "Adjusted cash costs per ounce" and "Adjusted all-in sustaining costs per ounce" are used in this analysis and are non-GAAP terms typically used by mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. These non-GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with other mining companies. In this context, "Adjusted cash costs per ounce" reflects the cash operating costs allocated from in-process and dore inventory associated with ounces of silver and gold sold in the period. "Adjusted cash costs per ounce" may vary from one period to another due to operating efficiencies, grade of material processed and silver/gold recovery rates in the period. "Adjusted all-in sustaining costs per ounce" include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. For a reconciliation of non-GAAP and GAAP measures, please refer to the Management Discussion and Analysis dated February 11, 2025 for the period ended December 31, 2024, as presented on SEDAR+.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240485
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