GoGold Resources – Construction Has Commenced At The Los Ricos South Underground Mine – Review of Q3 Financials From Parral Mine

Brad Langille, President & CEO, of GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF), joins us to highlight their key news released on August 25th, which announced the formal commencement of site construction at the fully-funded Los Ricos South in Jalisco, Mexico. This milestone follows the completion of a feasibility study in 2025 and the granting of the project permit from the Mexican Government in June of this year.  We also outline that Los Ricos North is the next development project in the cue after the Los Ricos South mine build, and we review Q3 financials and operations from their operating Parral Mine.

 

GoGold Resources is fully financed with a robust cash position of US$284 million, strong cash flow from production at Parral, and zero debt as they begin construction at Los Ricos South. The decision to advance detailed engineering early gave their team a meaningful head start on ordering long-lead time equipment, which should support an effective execution of the build and keep the build on track for first gold pour in June 2028.

 

Update on construction and engineering activities:

 

• Underground mining contractor has been selected. Portal construction is scheduled for Q4 2026, with initial mine development to begin in January 2027.
• Additional geotechnical drilling is currently underway to define exact portal locations and overall underground conditions, which will aid in further optimization of the underground mine plan, with specialist support provided by WSP Geotechnical Engineering.
• Detailed plant design by M3 and DENM Engineering is approximately 85% complete.
• RMS (Responsible Mining Solutions) is advancing the detailed design of the paste backfill plant.
• Orders for all critical long-lead time equipment have been placed, including the SAG mill, tailings filter, crusher, electrical switchgear, Merrill-Crowe plant, conveyors, slurry pumps, hydrocyclones, feeders and screens.
• The EPCM contractor (M3) is now on site for the construction phase. GoGold has also appointed a construction manager who is currently at site.
• The earthworks contractor has been mobilized to site, work has commenced at the plant site.
• As part of its environmental mitigation program, GoGold has launched a regional mitigation program that includes the planting of 20,000 trees to support local reforestation.

 

We delve into the resources, DFS-stage economics, and anticipated production profile from their flagship Los Ricos South Project.  Then we have Brad outline the pathway forward and further augmentation of their production profile a few more years out from the Los Ricos North development and exploration project in the state of Jalisco. 

 

Rounding out the discussion we get a Q3 financial and operations update from their producing Parral Tailings mine, in the state of Chihuahua. The cashflows from this mine will continue to fund the development and exploration at both Los Ricos South and Los Ricos North.

 

Highlights for the quarter ending June 30, 2026:

 

• Record operating cash flow of $26.3 million USD
• Cash of $284 million USD
• Revenue of $27.8 million on the sale of 419,986 silver equivalent ounces (SEO) at an average realized price per ounce of $66.09
• Net income of $10.9 million
• Production of 477,464 SEO, consisting of 268,673 silver ounces, 3,036 gold ounces, 88 tonnes of copper, and 116 tonnes of zinc

 

If you have any follow up questions for Brad on GoGold Resources, then please email us at Fleck@kereport.com or  Shad@kereport.com.

 

• In full disclosure, Shad is a shareholder of GoGold Resources at the time of this recording and may choose to buy or sell shares in the market at any time.

 

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