GoGold Resources Reports Revenue of US$16.7 Million For Fiscal Year 2016

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/644-tsx/ggd/27739-gogold-resources-reports-revenue-of-us-16-7-million-for-fiscal-year-2016.html

GoGold Resources Inc. (TSX: GGD) (“GoGold”, “the Company”) is pleased to announce the release of financial results for the quarter and year ending September 30, 2016 with an operating income of $943,000 for the year (All amounts are in U.S. dollars).  GoGold recorded revenue of $16.7 million from the sale of 640,121 silver ounces and 5,533 gold ounces during the year.

Financial Highlights for the year ending September 30, 2016:

  • Revenue of $16.7 million from the sale of 640,121 silver ounces and 5,533 gold ounces, a realized price of $15.50 per silver equivalent ounce
  • Operating income of $943,000
  • Cash flow from operations before changes in non-cash working capital of $3 million, or 2 cents per basic share
  • Cash cost per ounce of silver, net of gold by-product credits was $0.76
  • Cash cost per silver equivalent ounce was $6.60
  • All in sustaining cost per silver equivalent ounce was $10.93
  • Produced 654,864 silver and 6,028 gold ounces, providing 1,111,629 silver equivalent ounces

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