GoGold Releases Q3 2024 Financial Results
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) has released its Q3 2024 financial results. The company generated $10.4 million in revenue from the sale of 365,119 silver equivalent ounces at a realized price of $28.37 per oz. Production reached 400,236 silver equivalent ounces, including 138,708 silver ounces and 2,436 gold ounces. GoGold reported an adjusted cash cost of $18.54 and an all-in sustaining cost of $24.59 per silver equivalent ounce.
The company's cash position stands at $76.4 million USD. GoGold celebrated 10 years of continuous production at Parral and is focusing on growth in the Los Ricos district. A definitive feasibility study for Los Ricos South is expected in September, with plans for a bulk underground operation in the first decade of production.
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ha pubblicato i risultati finanziari del terzo trimestre 2024. L'azienda ha generato 10,4 milioni di dollari di ricavi dalla vendita di 365.119 once equivalenti d'argento a un prezzo realizzato di 28,37 dollari per oncia. La produzione ha raggiunto 400.236 once equivalenti d'argento, inclusi 138.708 once d'argento e 2.436 once d'oro. GoGold ha riportato un costo di cassa rettificato di 18,54 dollari e un costo totale sostenibile di 24,59 dollari per oncia equivalente d'argento.
La posizione di liquidità dell'azienda è di 76,4 milioni di dollari USD. GoGold ha celebrato 10 anni di produzione continua a Parral e si sta concentrando sulla crescita nel distretto di Los Ricos. Uno studio di fattibilità definitivo per Los Ricos South è atteso per settembre, con piani per un'operazione sotterranea bulk nel primo decennio di produzione.
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ha publicado sus resultados financieros del tercer trimestre de 2024. La empresa generó 10,4 millones de dólares en ingresos por la venta de 365,119 onzas equivalentes de plata a un precio realizado de 28,37 dólares por onza. La producción alcanzó 400,236 onzas equivalentes de plata, incluidas 138,708 onzas de plata y 2,436 onzas de oro. GoGold reportó un costo de efectivo ajustado de 18,54 dólares y un costo total sostenible de 24,59 dólares por onza equivalente de plata.
La posición de efectivo de la empresa se sitúa en 76,4 millones de dólares USD. GoGold celebró 10 años de producción continua en Parral y se está enfocando en el crecimiento en el distrito de Los Ricos. Se espera un estudio de viabilidad definitiva para Los Ricos South en septiembre, con planes para una operación subterránea a gran escala en la primera década de producción.
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)는 2024년 3분기 재무 결과를 발표했습니다. 이 회사는 1,040만 달러의 수익을 기록했으며, 365,119온스의 은 동등량을 28.37달러의 실현 가격으로 판매했습니다. 생산량은 400,236온스의 은 동등량에 도달했으며, 그 중 138,708온스는 은, 2,436온스는 금입니다. GoGold는 조정된 현금 비용이 18.54달러, 총 지속 비용이 은 동등량 24.59달러라고 보고했습니다.
회사의 현금 잔고는 7640만 달러 USD입니다. GoGold는 Parral에서의 10년 연속 생산을 축하했으며, Los Ricos 지역에서 성장에 주력하고 있습니다. Los Ricos South에 대한 확정 가능성 연구는 9월에 예정되어 있으며, 첫 번째 생산의 10년 동안 대규모 지하 작업 계획을 세우고 있습니다.
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) a publié ses résultats financiers pour le troisième trimestre 2024. La société a généré 10,4 millions de dollars de revenus grâce à la vente de 365.119 onces équivalentes en argent à un prix réalisé de 28,37 dollars par once. La production a atteint 400.236 onces équivalentes en argent, comprenant 138.708 onces d'argent et 2.436 onces d'or. GoGold a rapporté un coût en espèces ajusté de 18,54 dollars et un coût total soutenu de 24,59 dollars par once équivalente en argent.
La position de trésorerie de l'entreprise s'élève à 76,4 millions de dollars USD. GoGold a célébré 10 ans de production continue à Parral et se concentre sur la croissance dans le district de Los Ricos. Une étude de faisabilité définitive pour Los Ricos South est attendue en septembre, avec des plans pour une opération souterraine en vrac au cours de la première décennie de production.
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) hat die finanziellen Ergebnisse für das 3. Quartal 2024 veröffentlicht. Das Unternehmen generierte 10,4 Millionen Dollar Umsatz durch den Verkauf von 365.119 Silberäquivalent-Unzen zu einem realisierten Preis von 28,37 Dollar pro Unze. Die Produktion erreichte 400.236 Silberäquivalent-Unzen, einschließlich 138.708 Silberunzen und 2.436 Goldunzen. GoGold berichtete von einem angepassten Barkosten von 18,54 Dollar und einem All-in-Nettokosten von 24,59 Dollar pro Silberäquivalent-Unze.
Die Barreserven des Unternehmens belaufen sich auf 76,4 Millionen USD. GoGold feierte 10 Jahre kontinuierliche Produktion in Parral und konzentriert sich auf das Wachstum im Bezirk Los Ricos. Eine definitive Machbarkeitsstudie für Los Ricos South wird im September erwartet, mit Plänen für eine Anschlussuntertagebetrieb in der ersten Produktionsdekade.
- Revenue increased to $10.4 million, up from $8.5 million in Q3 2023
- Production of 400,236 silver equivalent ounces
- Strong cash position of $76.4 million USD
- First sale of zinc precipitate from SART zinc expansion
- Upcoming definitive feasibility study for Los Ricos South project
- Net loss of $483,000 compared to net income of $2.6 million in Q3 2023
- Increase in adjusted AISC to $24.59 per silver equivalent ounce from $20.85 in Q3 2023
- Cash flow used in operations increased to $2.16 million from $299,000 in Q3 2023
Shares Outstanding: 329,452,261
Trading Symbols: TSX: GGD
OTCQX: GLGDF
"During the quarter, we passed 10 years of continuous production at Parral. We constantly make efforts to optimize our operations and congratulate the team on completing 10 years of production," said Brad Langille, President and CEO. "We feel that the next decade plus of growth in GoGold lies within our flagship Los Ricos district, with the immediate catalyst being the release of the results of our definitive feasibility study in September at Los Ricos South. During the engineering work for the feasibility study we have redesigned the mine plan to have a bulk underground operation for at least the first decade of production. We are confident that we will be issued an underground permit and therefore are preparing to execute on long lead time items such as construction of a power line and paying deposits for certain major components."
Highlights for the quarter ending June 30, 2024:
- Cash of
$76.4 million USD - Revenue of
$10.4 million $28.37 - Production of 400,236 silver equivalent ounces, consisting of 138,708 silver ounces, 2,436 gold ounces, 148 copper tonnes, and 125 zinc tonnes
- First sale of zinc precipitate from SART zinc expansion
- Adjusted cash cost per silver equivalent ounce of
$18.54 - Adjusted all in sustaining cost per silver equivalent ounce of
$24.59
Following are tables showing summarized financial information and key performance indicators:
Summarized Consolidated Financial Information | Three months ended Jun 30 | Nine months ended Jun 30 | |||
(in thousands USD, except per share amounts) | 2024 | 2023 | 2024 | 2023 | |
Revenue | $ 10,358 | $ 8,485 | $ 26,097 | $ 24,570 | |
Cost of sales, including depreciation1 | 4,590 | 6,272 | 17,173 | 28,796 | |
Operating income (loss)1 | 3,600 | 245 | 1,869 | (10,149) | |
Net (loss) income1 | (483) | 2,604 | 864 | (3,593) | |
Basic net (loss) income per share1 | (0.002) | 0.008 | 0.003 | (0.012) | |
Cash flow used in operations | (2,157) | (299) | (9,819) | (7,210) | |
1Affected by inventory net realizable value adjustments of: Q3-24 |
Key Performance Indicators1 | Three months ended Jun 30 | Nine months ended Jun 30 | |||
(in thousands USD, except per ounce amounts) | 2024 | 2023 | 2024 | 2023 | |
Total tonnes stacked | 425,804 | 407,738 | 1,223,665 | 1,077,305 | |
Silver equivalent ounces sold | 365,119 | 360,011 | 1,044,346 | 1,127,508 | |
Adjusted AISC per silver equivalent ounce2 | $ 24.59 | $ 20.85 | $ 24.47 | $ 19.38 | |
Adjusted Cash cost per silver equivalent ounce2 | $ 18.54 | $ 15.24 | $ 17.59 | $ 13.99 | |
Realized silver price | $ 28.37 | $ 23.57 | $ 24.99 | $ 21.79 | |
1Key performance indicators are unaudited non-GAAP measures, see reconciliation in MD&A. |
2Gold and copper are converted using average market prices. |
This news release should be read in conjunction with the interim condensed consolidated financial statements for the quarter ended June 30, 2024, notes to the financial statements, and management's discussion and analysis for the quarter ended June 30, 2024, which have been filed on SEDAR and are available on the Company's website.
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
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 "
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 August 7, 2024 for the three months ended June 30, 2024, as presented on SEDAR.
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SOURCE GoGold Resources Inc.
FAQ
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