GoGold sees ninth consecutive quarter of positive cash flow in Mexico
(Kitco News) - GoGold Resources (TSX: GGD) (OTCQX: GLGDF) today reported production for the quarter ending March 31, 2021 of 551,207 silver equivalent ounces, consisting of 302,933 silver ounces, 3,208 gold ounces, and 86 tonnes of copper.
The company said that its Parral mine in Mexico has generated positive free cash flow for nine consecutive quarters, with estimated free cash flows exceeding US$5.5 million this quarter.
"Parral has become our engine of free cash flow, generating in excess of US$5.5 million this quarter. Parral has funded our exploration program at Los Ricos for three consecutive quarters," said President and CEO Brad Langille. "Parral's free cash flow, when reinvested in Los Ricos, is creating exceptional value growth for our shareholders."
GoGold Resources 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 projects in the state of Jalisco.