GoGold Announces Financial Results and Record Production for the Year Ending September 30, 2018

Gogold_PR20181221

Financial Highlights for the year ending September 30, 2018:

  • Record production of 774,590 silver and 6,655 gold ounces, providing 1,300,046 silver equivalent ounces at Parral
  • Record revenue of $21.0 million from the sale of 781,672 silver ounces and 6,933 gold ounces, a realized price of $15.79 per silver equivalent ounce and a net loss of $43.7 million.
  • Executed agreement for sale of the 2% net smelter royalty on Santa Gertrudis for gross proceeds of $12 million which closed on November 7, 2018 which brings the total proceeds on the sale of Santa Gertrudis project to $92 million.
  • Cash flow from operations before changes in non-cash working capital of $3.0 million, or 2 cents per basic share
  • Adjusted cash cost per ounce of silver, net of gold by-product credits was $6.24
  • Adjusted cash cost per silver equivalent ounce was $10.20
  • Adjusted all in sustaining cost per silver equivalent ounce was $14.46
  • Ended the year with a strong balance sheet with $8.3 million in cash plus $12 million in proceeds from the sale of the net smelter royalty that closed subsequent to the year end and no debt

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