GoGold Resources (GGD) Q4 2024 earnings summary

Executive summary

• Revenue increased 20% year-over-year to $36.5 million, driven by higher Parral production and sales of 1.4 million silver equivalent ounces.

• Net income reached $1.6 million for the year ended September 30, 2024, reversing a net loss of $7.9 million in the prior year.

• Completion of the SART Zinc circuit improved gold and silver leachability, boosting production and profitability at Parral.

• Cash position at year-end was $72.0 million.

• Anticipation of Los Ricos South permit and potential construction decision for a second operating mine in 2025.

Financial highlights

• Revenue for the year was $36.5 million, up from $30.3 million year-over-year.

• Operating income improved to $3.2 million from a loss of $11.8 million year-over-year.

• Net income of $1.6 million, compared to a net loss of $7.9 million in the previous year.

• Cash flow used in operations was $10.7 million, higher than $7.4 million in the prior year.

• Average realized silver price was $25.95 per ounce, up from $22.07 year-over-year.

Outlook and guidance

• Confident in obtaining Los Ricos South permit and making a positive construction decision in 2025.

• Expectation of continued production and profitability improvements at Parral due to SART Zinc circuit.