GoGold Silver & Gold (GGD.TO) has released a production update for the second quarter of this year, producing a total of 138,000 ounces of silver, just over 2,400 ounces of gold, about 325,000 pounds of copper and just under 300,000 pounds of zinc. On a silver-equivalent basis, this represents a total output of just over 400,000 ounces. That’s substantially higher than the average of 337,500 ounces of silver-equivalent per quarter in FY 2023, and the company expects the addition of the zinc circuit to continue to result in zinc sales, which will further boost the silver-equivalent production.
The company now expects to be in a position to release its Los Ricos South feasibility study early in September. The study will be focusing on an underground mining scenario with a much smaller open pit, and GoGold has already applied for the required underground mining permits. The open pit portion of the mine plan has now been pushed further down the road, in an anticipation that the dust will settle on Mexico’s rumored open pit mining ban.
Disclosure: The author has no position in GoGold. Please read the disclaimer.
