GoGold reports Q2 2021 production increase in Mexico
(Kitco News) - GoGold Resources (TSX: GGD) reported Wednesday production for the quarter ending June 30, 2021 of 575,302 silver equivalent ounces ("AgEq"), consisting of 315,632 silver ounces, 3,170 gold ounces, and 120 tonnes of copper, from its Parral tailings mine in Mexico.
The company said that Q2 2021 production was 14% higher compared to 504,444 AgEq ounces produced in Q2 2020, and that Parral has generated positive free cash flow for ten consecutive quarters, with estimated free cash flows exceeding US$5.5 million this quarter.
"Parral continues to be an engine of free cash flow, generating in excess of US$5.5 million this quarter. We finished the quarter with a strong cash balance of over $73 million US," 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.