Cara Community GSM 50: GoGold Res.

GoGold Resources (TSX: GGD) (OTC: GLGDF) reviewed 10-04-2020

Market Cap: 298.0 Million (USD)

Share Price: 1.13 (USD)

Shares outstanding: 263,800,000

Cash:     $52.5 M (USD)

Debt:     None

Current operations: Yes

Insiders: 20%

Institutional: 9 institutions hold 9% of the float


President & CEO: Brad Langille

Canadian based company with operations in Mexico


Los Ricos (Jalisco State, Mexico) – Drilling & Exploration

Parral Tailings (Chihuahua, Mexico) – Tailings processing

Go Gold Resources should produce 2 M oz. Ag at AISCs averaging $15-16 per oz in 2020

The Parral tailings project has 25 M oz Ag equivalent, no exploration potential

A 2nd tailings project (Esmeralda) has 12 M oz Ag

Los Ricos is a large resource (55,000 acres) of approx. 83 M oz Ag at 200 g /ton and is growing in size

Despite the name, they seem to be focused on silver

Bottom line:

  • Speculative, but finding cheap silver projects right now is not easy
  • Los Ricos could be a very large project if and when the mine is built
  • Outstanding balance sheet
  • The 52-wk share price range has been $0.27-$1.40 (USD)
  • No position presently, but investigating further

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