GoGold says Mexico silver production up 45% in 2025
GoGold Resources Inc. [GGD-TSX] has reported a 45% increase in production for the year ending September 30, 2025. In that period, the company said its Parral mine in Mexico produced 2.15 silver equivalent ounces (AgEq), consisting of 851,102 silver ounces and 12,289 gold ounces, plus 476 tonnes of copper and 609 tonnes of zinc.
On Thursday, the shares rose 4.4% or 12 cents to $2.87 and trade in a 52-week range of $2.97 and $1.04.
The company operates the Parral Tailings mine in the state of Chihuahua. It also has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco.
“Parral delivered an excellent year for the company, with production up 45% from 2024 to 2025,’’ said GoGold President and CEO Brad Langille. “Our very strong balance sheet, which includes a cash balance of US$141 million at year-end, together with the continued robust Parral cash flow has put us in an excellent position four our upcoming mine build. It also provides flexibility to advance Los Ricos North and explore around our mine reserves as we approach the execution phase at Los Ricos South.’’
Los Ricos consists of 29 concessions and covers over 22,000 hectares. The property is home to several historical mining operations and is located roughly 100 kilometres northwest of Guadalajara.
Los Ricos is split into two projects, Los Ricos South and Los Ricos North. They are 25 kilometres apart.
Los Ricos South includes the “Main” area, which is focused on drilling around a number of historical mines, including El Abra, El Troce, San Juan and Rascadero.
In a press release on April 4, 2025, the company said it had closed an $86.2 million bought deal financing and will use part of the proceeds for the development of Los Ricos South.
In a press release on February 28, 2025, GoGold announced the filing of a NI 43-101 compliant feasibility study technical report for Los Ricos South. It said the feasibility study includes a re-engineered 2,000 tonne per day underground mine plan compared to the preliminary economic assessment (PEA) which was released in September 2023, and incorporates an updated mineral resource estimate.
The feasibility study envisages a 15-year mine plan producing a total of 80 million payable silver equivalent ounces (AgEq), consisting of 41 million ounces of silver, 424,000 gold ounces and 11 million pounds of copper.
Also envisaged is an initial capital cost of $227 million, including 21 million on contingency costs, over an expected two-year build, and sustaining capital costs of $100 million over the life of the mine.
The average all-in-sustaining cost is pegged at US$11.19 per AgEq ounce over the first five years of production, with an average AISC of US$12.32 an ounce AgEq over the underground mine life.
Average annual production is estimated at 7.3 million AgEq over the first five years.