GoGold hit by Mexico impairment
GoGold Resources' net loss grew to US$17.0mn in Q1 from US$3.56mn in the year-ago period, impacted by an impairment charge.
The company recorded a US$20.0mn impairment at its San Diego project in Mexico after opting not to renew certain mining claims in order to focus on its Parral mine and Santa Gertrudis project, also in Mexico.
Revenue increased to US$5.08mn from US$39,000. Commercial production at Parral, the company's sole producing mine, began in March 2015.
The company previously announced Q1 production of 335,183oz silver equivalent, up from 315,804oz.
All-in sustaining costs were US$9.44/oz silver equivalent, down from US$9.51/oz. Realized silver prices fell to US$14.57/oz from US$16.03/oz.
GoGold completed an expansion of stacking capacity to 10,000t/d from 5,000t/d at the end of Q1 which it expects to continue to drive production and revenue growth.
SEE WHICH GOLD AND SILVER MINERS WERE HIT WITH OVER US$8BN IN IMPAIRMENTS IN 4Q15
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Mining & Metals (Mexico)
Global silver supply forecast to rise 3% in 2024
Silver mine production in 2024 is projected to rise 4% to 843Moz, the highest level since 2018.
Gatos Silver Reports New Intercepts of High-Grade Mineralization at Cerro Los Gatos
The update includes new intercepts of high-grade mineralization in the South-East Deeps (“SE Deeps”) zone of its 70%-owned Cerro Los Gatos (“CLG”) ...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Mining & Metals (Mexico)
Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Tailings Filtering Plant (Peña Colorada)
- Current stage:
- Updated:
1 month ago
- Project: Coatán
- Current stage:
- Updated:
1 month ago
- Project: Cerro Las Minitas
- Current stage:
- Updated:
1 month ago
- Project: Santa Rosa
- Current stage:
- Updated:
1 month ago
- Project: Metates (Phase I)
- Current stage:
- Updated:
2 months ago
- Project: Ana Paula
- Current stage:
- Updated:
2 months ago
- Project: Cordero Expansion (Phase 3)
- Current stage:
- Updated:
2 months ago
- Project: Cordero Expansion (Phase 2)
- Current stage:
- Updated:
2 months ago
- Project: Cordero (Phase 1)
- Current stage:
- Updated:
2 months ago
- Project: Plomo
- Current stage:
- Updated:
2 months ago
Other companies in: Mining & Metals (Mexico)
Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Grupo Acerero S.A. de C.V.  (Grupo Acerero)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: ICA Fluor, S. de R.L. de C.V.  (ICA Fluor)
-
ICA-Fluor Daniel, S. de R.L. de C.V. (ICA Fluor) is a JV formed in 1993 between Mexican engineering construction group ICA and US-based engineering, procurement, construction an...
- Company: Parilla Plata Mining S.A. de C.V.
- Company: Mitsui de México, S. de R.L. de C.V.  (Mitsui de México)
-
Mitsui de México, formerly Mitsui Mexicana Ltda., is a trading company and a subsidiary of Japanese multinational holding Mitsui & Co., Ltd. Incorporated in 1955, Mitsui de Méxi...
- Company: Hifos S.A. de C.V.  (Hifos)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Moliendas Tizayuca S.A. de C.V.  (Moliendas Tizayuca)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...