GoGold Releases Record Financial Results for 2025
GoGold Releases Record Financial Results for
2025
Halifax, Nova Scotia--(Newsfile Corp. - December 11, 2025) -
GoGold Resources Inc. (TSX: GGD)
(OTCQX: GLGDF) ("GoGold", "the Company")
announces the financial results for the year ending
September 30, 2025, with Parral revenue doubling, generating a record $72.5 million (all amounts are in
U.S. dollars) from the sale of 2.1 million silver equivalent ounces.
"Parral had a banner year for us, producing record revenues of $73 million, driving cash flows from
operations of $26 million and net income of $17 million.
In 2025, we realized a silver selling price of
$33/oz, so with silver prices currently above $55/oz the outlook for 2026 is very strong," said Brad
Langille, President and CEO.
"With our $143 million CAD bought deal financing completed last month,
we currently have over $240 million USD in cash, and no debt. With our strong balance sheet, and our
feasibility study estimating capital costs of $227 million for the construction of Los Ricos South, we are
substantially de-risked for the execution phase of the project in 2026.
Another substantial advantage for
our Company is the flexibility to aggressively advance Los Ricos North towards feasibility and permitting
as we are constructing the South.
We believe that this aggressive plan will realize maximum shareholder
value from these historically strong commodity prices."
Highlights for the year ending September 30, 2025:
Cash of $141.1 million USD
Revenue of $72.5 million on the sale of 2.1 million silver equivalent ounces at an average realized
price per ounce of $33.80 USD
Net income of $17.3 million
Production of 2,150,192 silver equivalent ounces, consisting of 851,102 silver ounces, 12,289 gold
ounces, 476 copper tonnes, 609 zinc tonnes
Adjusted cash cost per silver equivalent ounce of $18.35
Adjusted all in sustaining cost per silver equivalent ounce of $23.72
Following are tables showing summarized financial information and key performance indicators:
Summarized Consolidated Financial Information
Three months ended Sep 30
Year ended Sep 30
(in thousands USD, except per share amounts)
2025
2024
2025
2024
Revenue
$ 18,095
$ 10,406
$ 72,503
$ 36,503
Cost of sales, including depreciation
9,212
7,139
43,959
24,313
Operating income
5,204
4,021
17,089
5,622
Net income
5,893
719
17,331
1,580
Basic net income per share
0.018
0.002
0.048
0.005
Cash flow from (used in) operations
5,391
(1,371)
25,650
(11,263)
Key Performance Indicators
1
Three months ended Sep 30
Year ended Sep 30
(in thousands USD, except per ounce amounts)
2025
2024
2025
2024
Total tonnes stacked
416,560
363,695
1,612,142
1,587,360
Silver equivalent ounces sold
435,522
362,314
2,144,938
1,406,660
Adjusted AISC per silver equivalent ounce
2
$
27.60
$
23.26
$
23.72
$
24.15
Adjusted Cash cost per silver equivalent ounce
2
$
18.95
$
17.71
$
18.35
$
17.62
Realized silver price
$
41.55
$
28.64
$
33.80
$
25.95
1
Key performance indicators are unaudited non-GAAP measures, see reconciliation in MD&A.
2
Gold, copper and zinc are converted using average market prices.
This news release should be read in conjunction with the consolidated financial statements for the year
ended September 30, 2025, notes to the financial statements, and management's discussion and
analysis for the year ended September 30, 2025, which have been filed on SEDAR and are available on
the Company's website.
The Company's annual information form has also been filed and is available on
SEDAR and 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. "Adjusted cash costs per ounce" and "Adjusted 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, "Adjusted 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. "Adjusted 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. "Adjusted 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 December 10, 2025 for the year ended September 30, 2025, as presented on SEDAR.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/277622