GoGold Resources Inc. (TSX: GGD | OTCQX: GLGDF) has reported second‑quarter 2026 production from its Parral tailings operation in Mexico, delivering strong cash flow and further strengthening its balance sheet.
For the quarter ended 31 March 2026, Parral produced 230,680 silver ounces, 2,549 gold ounces, 84 tonnes of copper, and 93 tonnes of zinc, resulting in total production of 394,605 silver‑equivalent ounces.
Table 1: Quarterly Production Summary
- “Silver equivalent production” include gold ounces, copper tonnes and zinc tonnes produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver ratio for each of the periods presented were: Dec 2024 – 90, Mar 2025 – 90, Jun 2025 – 98, Sep 2025 – 88, Dec 2025 – 76, Mar 2026 – 58. The copper:silver ratios were: Sep 2024 – 320, Dec 2024 – 299, Mar 2025 – 318, Jun 2025 – 311, Sep 2025 – 251, Dec 2025 – 204, Mar 2026 – 152. The zinc:silver ratios were: Sep 2024 – 94, Dec 2024 – 97, Mar 2025 – 89, Jun 2025 – 79, Sep 2025 – 72, Dec 2025 – 59, Mar 2026 – 38.
Silver output increased 13% quarter‑on‑quarter, offsetting a 13% decline in gold production. GoGold noted that silver‑equivalent output appeared lower due mainly to changes in metal price ratios during the quarter. Using the same equivalency assumptions as the previous quarter, production would equate to approximately 446,000 silver‑equivalent ounces.
Brad Langille, president and CEO of GoGold Resources, commented, “The Parral tailings mine had another excellent quarter, generating substantial cash flow and increasing our cash balance by approximately US$16M to US$261M. Silver production increased 13%, offsetting a 13% decline in gold production from the previous quarter. While silver‑equivalent output declined due to changes in metal price ratios, using the same equivalency as last quarter would equate to production of approximately 446,000 SEO. Our strong, debt‑free balance sheet and continued cash generation from Parral place GoGold in an excellent position to advance our upcoming mine build.”
Langille added that GoGold’s strong, debt‑free balance sheet places the company in a favourable position to advance its next growth phase. The planned development at Los Ricos South carries an initial capital cost of US$227M, which compares favourably with the company’s current cash position and the remaining four to five years of mine life at Parral, which is expected to continue generating strong operating cash flow.
GoGold said the combination of ongoing cash generation at Parral and its substantial cash reserves demonstrates that the company is fully funded to advance its upcoming mine build while maintaining financial flexibility.
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