GoGold Resources

GoGold Resources Inc. is a Canadian-based silver and gold producer focused on developing its Los Ricos district in Mexico, one of the largest undeveloped silver-gold projects in the country. The company operates the producing Parral mine and is advancing Los Ricos South through feasibility stage and Los Ricos North through preliminary economic assessment, with combined indicated resources totaling 196.4 million ounces of silver equivalent across both projects. With a strong balance sheet of US$240 million in cash, no debt, and significant institutional backing, GoGold is positioned to become a mid-tier precious metals producer in a top-tier mining jurisdiction.

The company's flagship Los Ricos South project has demonstrated exceptional economics through its January 2025 feasibility study, showing an after-tax NPV of US$355 million at base case prices and US$862 million at spot metal prices. GoGold's management team has a proven track record of building and monetizing mining companies, having previously developed and sold Mexgold Resources and Gammon Gold for substantial returns. 

The company is listed on the Toronto Stock Exchange (TSX: GGD) and OTC Markets (OTC: GLGDF), with approximately 20% insider ownership aligning management with shareholders.

GoGold Resources presents a compelling investment opportunity through its advanced-stage Los Ricos projects, which represent one of Mexico's largest silver-gold development opportunities. Los Ricos South alone offers a 15-year mine life with average annual production of 7.3 million silver equivalent ounces in the first five years, peak production exceeding 10 million ounces, and total payable production of 80 million ounces over the mine life. The feasibility study demonstrates robust economics with an after-tax IRR of 28% at conservative metal prices of $23.75/oz silver and $1,850/oz gold, improving to 52% IRR at current spot prices.

The project stands out for its cost efficiency, with all-in sustaining costs of $11.19 per ounce in the first five years and $12.32 per ounce over the underground mine life, positioning GoGold among the lower-cost precious metals producers in Mexico. The company's inherited infrastructure advantage includes a dedicated power line from the nearby La Yesca hydroelectric dam, providing low-cost renewable energy, and the ability to use cemented tailings backfill to reduce surface environmental impact. With substantial indicated resources of 196.4 million silver equivalent ounces across Los Ricos and a clear path to production starting in 2027, GoGold offers significant leverage to rising precious metals prices while maintaining a de-risked development timeline.

GoGold Resources is led by a proven management team with deep expertise in building and monetizing mining companies. President and CEO Bradley Langille co-founded Gammon Gold and Mexgold Resources, developing the Ocampo and El Cubo mines from grassroots to commercial production. He raised over $1 billion in capital throughout his career and joined GoGold as a strategic advisor in 2010 before becoming President & CEO in 2016 and Director in 2020. 

Chief Financial Officer Dana Hatfield, a Chartered Professional Accountant, previously served as CFO of Brigus Gold and Senior Vice President Finance at AuRico Gold, with extensive experience in financial reporting, equity and debt financings, and public company compliance from his tenure at an international accounting firm. 

Chief Operating Officer Anis Nehme holds a Master of Applied Sciences in Engineering and brings more than 10 years of mining experience, including critical roles in constructing Gammon Gold's flagship Ocampo mine. He joined GoGold in 2011 as Mexico Manager, providing deep expertise in open pit and underground operations, contract negotiation, and permitting.

GoGold Resources is executing a dual-pronged growth strategy focused on advancing Los Ricos South to production while continuing to expand its resource base across the broader Los Ricos district. The company is moving through detailed engineering and permitting phases for Los Ricos South, targeting construction commencement in 2026 and first production by 2028, supported by a feasibility study with +/- 10% accuracy and 75% competitive quotations. Environmental stewardship is central to this strategy, with the project designed for 95% water recycling efficiency, dry-stacked detoxified tailings, and minimal de-watering requirements due to the dry mine conditions.

A key advantage in GoGold's growth plan is its substantial cash position of US$240 million, which provides full funding flexibility for the $227 million initial capital requirement without dilutive equity raises. The company continues aggressive exploration at Los Ricos North, where a 2023 PEA demonstrated a 13-year mine life producing 110 million silver equivalent ounces with a $413 million NPV, offering significant upside potential. Through this strategic approach combining near-term production, district-scale exploration potential, and strong financial position, GoGold is positioning itself to become a leading silver-gold producer while delivering sustainable shareholder value.

As of December 2025, GoGold Resources maintains a robust financial position with US$240 million in cash, US$14 million in Mexican government receivables, and no debt, providing total available funds of US$254 million. The company has 433 million basic shares outstanding and 448 million fully diluted, with strong institutional support from major holders including Van Eck Associates, Franklin Templeton, Sprott Asset Management, and Mirae Asset Global Investments. The Los Ricos South feasibility study projects initial capital costs of $227 million including $21 million contingency, with sustaining capital of $100 million over the 15-year mine life.

The project economics demonstrate strong returns with an after-tax NPV of $355 million at base case metal prices and IRR of 28%, improving dramatically to $862 million NPV and 52% IRR at spot prices. Los Ricos South is projected to generate average annual production of 7.3 million silver equivalent ounces in the first five years at operating cash costs of $9.94 per ounce and AISC of $11.19 per ounce, establishing GoGold as a cost-competitive producer. With its strong cash position and attractive project economics, the company is well-positioned to finance development through a combination of internal funds and strategic project financing.

GoGold Resources stands at the threshold of becoming a significant silver-gold producer in Mexico, with its Los Ricos South project positioned as one of the country's largest undeveloped precious metals deposits. With a 15-year mine life, 91 million ounces of proven and probable silver equivalent reserves, and projected production of 7.3 million ounces annually at industry-leading costs, GoGold offers a unique development-stage investment opportunity in a top-tier jurisdiction.

The company's exceptional financial strength, with $254 million in available funds and no debt, eliminates dilution risk while providing full flexibility to develop Los Ricos South and advance Los Ricos North. Combined with a proven management team that has successfully built and monetized multiple mining companies, strong ESG credentials, and significant institutional support, GoGold is well-positioned to deliver robust returns as it advances toward production. For investors seeking exposure to a de-risked, cost-competitive precious metals project with district-scale exploration upside, GoGold Resources presents a compelling opportunity in the silver-gold sector.