GoGold Announces Record Quarterly Operating Cash Flow
GoGold Announces Record Quarterly
Operating Cash Flow
Halifax, Nova Scotia--(Newsfile Corp. - May 6, 2026) -
GoGold Resources Inc. (TSX: GGD) (OTCQX:
GLGDF) ("GoGold", "the Company")
announces record financial results for the quarter ending March
31, 2026 with record quarterly operating cash flows of $21.2 million (all amounts are in U.S. dollars) on
revenue of $30.3 million from the sale of 383,695 silver equivalent ounces ("SEO").
"Parral continues to provide excellent results, propelling the Company to record operating cash flows of
$21.2 million.
As we complete our twelfth year at Parral, it continues to operate strongly and is producing
record cash flows for us," said Brad Langille, President and CEO.
"We ended the quarter with $262
million in cash, which along with our cash flow from Parral exceeds the initial capital expenditure of $227
million for Los Ricos South based on the feasibility study. With the logistics and detailed engineering
well advanced, once we have our permit in hand for Los Ricos South and our excellent balance sheet we
are ready to go."
Highlights for the quarter ending March 31, 2026:
Record operating cash flow of $21.2 million USD, including Parral free cash flow of $14.6 million
Cash of $262.2 million USD
Revenue of $30.3 million on the sale of 383,695 SEO at an average realized price per ounce of
$79.04
Net income of $16.4 million
Production of 394,605 SEO, consisting of 230,680 silver ounces, 2,549 gold ounces, 84 tonnes of
copper, and 93 tonnes of zinc
Following are tables showing summarized financial information and key performance indicators:
Summarized Consolidated Financial Information
Three months ended Mar 31
Six months ended Mar 31
(in thousands USD, except per share amounts)
2026
2025
2026
2025
Revenue
$
30,329
$
17,602
$
61,434
$
36,700
Cost of sales, including depreciation
10,436
11,067
22,109
24,585
Operating income
18,504
3,496
34,761
7,311
Net income
16,437
3,357
29,746
3,220
Basic net income per share
0.038
0.010
0.071
0.010
Cash flow provided by operations
21,217
5,145
30,880
13,012
Key Performance Indicators
1
Three months ended Mar 31
Six months ended Mar 31
(in thousands USD, except per ounce amounts)
2026
2025
2026
2025
Total tonnes stacked
361,242
377,516
793,050
803,695
Silver equivalent ounces sold
2
383,695
555,511
870,623
1,181,483
Realized silver price
$
79.04
$
31.70
$
70.56
$
31.07
AISC per silver equivalent ounce
2
$
30.30
$
22.98
$
29.44
$
22.70
Cash cost per silver equivalent ounce
2
$
24.42
$
17.85
$
22.76
$
18.64
1
Key performance indicators are unaudited non-GAAP measures, see reconciliation in MD&A.
2
SEO include gold ounces, copper tonnes, and zinc tonnes sold converted to a silver equivalent based on a ratio of the average market
metal price for each period.
The ratio of gold:silver for each of the periods presented was:
Q2-25 - 90, Q2-26 - 58.
The ratio for copper
was: Q2-25 - 317, Q2-26 - 153.
The ratio for zinc was: Q2-25 - 89, Q2-26 - 38.
Silver equivalent ounces sold were heavily impacted by the strengthening of silver prices relative to gold
for the three months ended March 31, 2026 compared to March 31, 2025, with the equivalency ratio of
gold:silver increasing from 58 to 90.
For comparison purposes, using the March 31, 2025 equivalency
ratio for the quarter ended March 31, 2026 would result in 487,657 SEO sold.
This news release should be read in conjunction with the interim consolidated financial statements for the
quarter ended March 31, 2026 notes to the financial statements, and management's discussion and
analysis for the quarter ended March 31, 2026, which have been filed on SEDAR+ and are available on
the Company's website.
Technical information contained in this news release with respect to GoGold has been reviewed and
approved by Mr. Bob Harris, P.Eng., who is a qualified person for the purposes of NI 43-101.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating,
developing, exploring and acquiring high quality projects in Mexico.
The Company operates the Parral
Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration
projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost,
high margin projects. For more information visit
gogoldresources.com
.
For further information please contact:
Steve Low, Corporate Development
GoGold Resources Inc.
T: 416 855 0435
Email :
Or visit :
www.gogoldresources.com
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 "U.S. Securities Act"), or any state securities laws, and may not
be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in
Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of
the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This
release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities
in the United States.
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 the 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.
Cautionary non-GAAP Measures and Additional GAAP Measures
Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use
certain non-GAAP and additional GAAP measures as indicators to assess mining companies. They are
intended to provide additional information and should not be considered in isolation or as a substitute for
measures of performance prepared with GAAP. Non-GAAP and additional GAAP measures do not
have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar
measures presented by other companies.
Additional GAAP measures that are presented on the face of the Company's consolidated statements of
comprehensive income include "Operating income (loss)". These measures are intended to provide an
indication of the Company's mine and operating performance. Per ounce measures are calculated by
dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the
period. "Cash costs per ounce" and "All-in sustaining costs per ounce" are used in this analysis and are
non-GAAP terms typically used by mining companies to assess the level of gross margin available to the
Company by subtracting these costs from the unit price realized during the period. These non-GAAP
terms are also used to assess the ability of a mining company to generate cash flow from operations.
There may be some variation in the method of computation of these metrics as determined by the
Company compared with other mining companies. In this context, "Cash costs per ounce" reflects the
cash operating costs allocated from in-process and dore inventory associated with ounces of silver and
gold sold in the period. "Cash costs per ounce" may vary from one period to another due to operating
efficiencies, grade of material processed and silver/gold recovery rates in the period. "All-in sustaining
costs per ounce" include total cash costs, exploration, corporate and administrative, share based
compensation and sustaining capital costs. For a reconciliation of non-GAAP and GAAP measures,
please refer to the Management Discussion and Analysis dated May 5, 2026 for the period ended
March 31, 2026, as presented on SEDAR+.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/296035