Parral Reports Ninth Consecutive Quarter of Positive Cash Flow on Production of 551K AgEq Oz
Unpaid shares: 265,740,217
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS,, April 7, 2021 / CNW / – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) (“GoGold”, “the company”) is pleased to report on production for the quarter March 31, 2021 of 551,207 silver equivalent ounces (“AgEq”), consisting of 302,933 ounces of silver, 3,208 ounces of gold and 86 tons of copper. Parral generates positive free cash flow for nine consecutive quarters, with expected free cash flows exceeding $ 5.5 million this quarter.
“Parral has become our engine of free cash flow, generating over $ 5.5 million this quarter. Parral has funded our Los Rico research program for three consecutive quarters, “he said. Brad Langle, President and CEO. “Parral’s free cash flow when reinvested in Los Ricos creates tremendous value growth for our shareholders.”
Table 1: Quarterly summary of production
|
A quarter is over |
December 2019 |
March 2020 |
June 2020 |
September 2020 |
December 2020 |
March 2021 |
|
Silver production (ounce) |
379 082 |
365 795 |
270 044 |
300 740 |
298 591 |
302 933 |
|
Gold production (ounce) |
2 407 |
2,355 th most common |
1914 |
3,414 th most common |
3,632 th most common |
3,208 th most common |
|
Copper production (tonnes) |
– |
28 |
104 |
128 |
125 |
86 |
|
Production of silver equivalent (ounce)1 |
584 988 |
600 697 |
504 4442 |
605,287 |
614,149 |
551 207 |
|
1. |
“Silver equivalent production” includes gold ounces and copper tonnes produced and converted to silver equivalent on the basis of the ratio of the average market price of the metal for each period. The gold: silver ratio for each of the presented periods is: March 2020 – 96, June 2020 – 105, September 2020 – 79, December 2020 – 76, March 2021 – 69. The copper – silver ratios are: March 2020 – 340, June 2020 – 326, September 2020 – 274, December 2020 – 305, March 2021 – 320. |
|
2. |
Production since June 2020 has been affected by a partial suspension of operations in Parral due to the COVID-19 pandemic. Extraction was declared a major service by the Mexican federal government on June 3, 2020, and operations have been stable since then. |
Mr. Robert Harris, P.Eng. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this publication.
All about GoGold resources
GoGold Resources (TSX: GGD) is a Canadian silver and gold producer focused on the operation, development, research and acquisition of high quality projects in Mexico. The company manages Parral Tailings’ mine Chihuahua and there are exploration projects in Los Ricos South and Los Ricos North in the state Jalisco. Based in Halifax, NS, GoGold builds a portfolio of projects with low costs and high margins. For more information visit gogoldresources.com.
ATTENTION:
The securities described herein are not and will not be registered under the U.S. Securities Act of 1933, as amended (the U.S. Securities Act), or any government securities laws and may not to be offered or sold within United States or for or for the benefit of US individuals (as defined in Regulation S under the U.S. Securities Act), except in accordance with the requirements for registration of the U.S. Securities Act and applicable government securities laws or under the exemptions thereto. . This issue does not constitute an offer to sell or a request to purchase any of GoGold’s securities in United States.
This news release may contain “forecast information” as defined in applicable Canadian securities law. All statements other than historical fact statements included in this publication, including, without limitation, statements about production and cash flows from the Parral tailings pond, GoGold’s ability to self-finance its current research and administrative costs, future operating margins, future production and The revision, as well as GoGold’s future plans and goals, are forward-looking information that includes various risks and uncertainties. The forecast information is based on a number of factors and assumptions that have been used to develop such information, but which may be incorrect, including, but not limited to, assumptions regarding the continuation of GoGold and its subsidiaries as a current concern, common economic and market conditions, mineral prices, the accuracy of mineral resource estimates and the implementation of the Parral project. It cannot be guaranteed that such information will be accurate and actual results and future events may differ materially from that expected in such forecast information.
Important factors that could lead to significant differences in the actual results of GoGold’s expectations include the R&D risks associated with GoGold projects, the inability to establish projected mineral resources or mineral reserves, the volatility of raw material prices, variations Recovery rates and global economic conditions For further information on the risk factors applicable to GoGold, reference should be made to the GoGold continuous disclosure materials submitted from time to time to securities regulators, including but not limited to , GoGold’s annual information form. The estimated information contained in this version was made as of the date of this version.
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SOURCE GoGold Resources Inc.
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