GoGold Resources (TSX: GGD) (OTC: GLGDF) reviewed 10-04-2020
Market Cap: 298.0 Million (USD)
Share Price: 1.13 (USD)
Shares outstanding: 263,800,000
Cash: $52.5 M (USD)
Debt: None
Current operations: Yes
Insiders: 20%
Institutional: 9 institutions hold 9% of the float
Website: gogoldresources.com
https://www.gogoldresources.com/investors/presentations/
President & CEO: Brad Langille
Canadian based company with operations in Mexico
Properties:
Los Ricos (Jalisco State, Mexico) – Drilling & Exploration
Parral Tailings (Chihuahua, Mexico) – Tailings processing
Go Gold Resources should produce 2 M oz. Ag at AISCs averaging $15-16 per oz in 2020
The Parral tailings project has 25 M oz Ag equivalent, no exploration potential
A 2nd tailings project (Esmeralda) has 12 M oz Ag
Los Ricos is a large resource (55,000 acres) of approx. 83 M oz Ag at 200 g /ton and is growing in size
Despite the name, they seem to be focused on silver
Bottom line:
- Speculative, but finding cheap silver projects right now is not easy
- Los Ricos could be a very large project if and when the mine is built
- Outstanding balance sheet
- The 52-wk share price range has been $0.27-$1.40 (USD)
- No position presently, but investigating further