GoGold Resources (GGD) 2025 Precious Metals Summit - Zurich summary

Track record and financial position

• Built and sold multiple mining assets in Mexico, including significant sales and mergers over the past three decades.

• Maintains a strong balance sheet with $141 million in cash and no debt, supported by an operating tailings reprocessing asset generating $3 million monthly free cash flow.

• Institutional, insider, and retail shareholders comprise the ownership structure, with insiders holding about 20%.

Los Ricos project development

• Los Ricos project, acquired in 2019, now holds 285 million ounces of silver-equivalent resources after extensive drilling and land consolidation.

• Los Ricos South has advanced from PEA to final feasibility, with execution phase underway, including EPCM awarded to M3 Engineering.

• Secured hydro power contract and preparing to award underground contractor bid, pending permit approval.

• Construction of Los Ricos South is planned as a 24-month build, followed by a 6-month ramp-up to commercial production.

• Los Ricos North will undergo infill drilling and feasibility work, aiming for permit application next summer.

Production outlook and financial planning

• Current production is 2 million ounces; Los Ricos South will add 7.2 million ounces, targeting 9 million ounces total.

• All-in sustaining costs projected at $12 per ounce, with $450 million after-tax free cash flow expected in the first 18 months of production.

• CapEx for Los Ricos South estimated at $227 million, with potential inflationary increase to $235–$240 million.

• Multiple financing offers received, with focus on maintaining flexibility and growth potential.

• Long-term plan is a continual build, aiming for 15–17 million ounces annual production within four years.