Cara Community GSM: Go Gold Silver & Gold 12-28-2020

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

Q4 highlights:

  • 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.

Bottom line:

  • 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

Canadian chart

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