Shares Outstanding: 186,148,461
Trading Symbols: TSX: GGD
OTCQX: GLGDF
"Production at Parral has increased for 5 consecutive quarters, and we are now at a production level we aim to maintain for the rest of the year. Our production rate this quarter is 80% higher than where we were at this quarter last year." said
SART Update
The newly installed SART plant has begun cold commissioning with motor testing, electrical checks, and going through final instrumentation installation and adjustments as part of final electrical completion. The SART plant is expected to bring important economic and technical benefits to the Parral facility. The main economic drivers are the recovery of a high-grade saleable copper sulfide product and the re-generation of cyanide, which is the largest single operating cost at Parral, and improve the leaching efficiency of the heap.
Table 1: Quarterly Production Summary
Quarter Ended | |||||
Silver Production (oz) | 167,974 | 288,693 | 250,073 | 326,625 | 379,082 |
Gold Production (oz) | 1,858 | 1,613 | 2,281 | 2,921 | 2,407 |
Silver Equivalent Production (oz)1 | 325,148 | 424,210 | 451,011 | 580,711 | 584,988 |
1. | "Silver equivalent production" include gold ounces produced and sold converted to a silver equivalent based on a ratio of the average market metal price for each period. The ratio for each of the periods presented was: Dec 2018 – 85, |
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CAUTIONARY STATEMENT:
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings project, the Los Ricos project, future operating margins, future production and processing, and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
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