Go Gold Silver & Gold (TSX: GGD) (OTC: GLGDF) updated 12-28-2020
All figures in USD and as of 30 Sept 2020.
Market Cap: $443.8 Million Share Price: USD 1.68 CAD 1.95
Shares outstanding: 264,166,788
Cash: $52.7 Mil
Debt: Lists $12.27 Mil total liabilities and no Long-term Debt.
Current operations: Yes; Parral Tailings.
Insiders: 16% Institutional: 14 institutions hold between 16-20% of 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
In 2020, Go Gold Resources should produce 2 Mil oz. Ag at AISCs averaging $15-16 per oz
The Parral tailings project has 25 M oz Ag equivalent, no exploration potential
A 2nd tailings project (Esmeralda) has 12 Mil oz Ag
Los Ricos is a large resource (55,000 acres) of approx. 83 Mil oz Ag at 200 g /ton and is growing in size
Despite the name, they seem to be focused on silver now
- Net income was $43.1 Million or $0.21 per share on Revenue of $39.5 Million.
- Cash flow from Operations reported as $8.7 Mil.
- AISC stated $14.82 per oz of silver. Cash costs were $12.24 per oz.
- The company sold 605,723 silver equivalent ounces at a realized price per ounce of $22.71.
- Measured & Indicated Mineral Resource at Los Ricos South includes 63.7 million ounces silver equivalent (“AgEq”) grading 199 g/t AgEq contained in 10.0 million tonnes (“Mt”), with an Inferred Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 Mt.
- Los Ricos would be a large mine if and when built.
- Outstanding balance sheet has been strengthened in the recent reporting period.
- No position presently, but is worthy investment for speculative accounts