GoGold Resources (TSX: GGD) has officially commenced site construction at its Los Ricos South project in Jalisco, Mexico, marking a major step towards production following the completion of a feasibility study in 2025 and receipt of the project’s environmental permit in June 2026.
The company expects first silver and gold pour in June 2028 and enters the construction phase with a strong balance sheet, reporting a cash position of US$284M, ongoing cash flow from its Parral operation, and no debt.
Brad Langille, president and CEO of GoGold Resources, commented: “We are fully financed with a robust cash position of US$284 million, strong cash flow from our operation at Parral, and zero debt as we begin construction at Los Ricos South. The decision to advance detailed engineering early has allowed us to get a meaningful head start on long-lead time equipment, which we expect will support an effective execution of the build and keep us on track for first gold pour in June 2028.
GoGold noted that detailed engineering and plant design work, which began ahead of permitting, helped accelerate the project’s transition into construction. Detailed plant design by M3 and DENM Engineering is now approximately 85% complete, while Responsible Mining Solutions is advancing the design of the paste backfill plant.
Construction activities are already underway at site, with the earthworks contractor mobilized and work commencing at the future processing plant location. M3, the EPCM contractor, is now on site, while GoGold has also appointed a dedicated construction manager to oversee development.
On the mining side, the underground mining contractor has been selected, with portal construction scheduled to begin in Q4 2026. Initial underground development is expected to start in January 2027.
Additional geotechnical drilling is also in progress to finalise portal locations and improve understanding of underground conditions. The work is being supported by WSP Geotechnical Engineering and is expected to contribute to further optimisation of the mine plan.
The company has also secured all major long-lead items required for construction, including the SAG mill, crusher, tailings filter, electrical switchgear, Merrill-Crowe plant, conveyors, slurry pumps, hydrocyclones, feeders, and screens.
Alongside mine development, GoGold has launched a regional environmental mitigation initiative that includes planting 20,000 trees to support local reforestation efforts.
With construction now underway, financing secured, and key equipment already ordered, Los Ricos South remains on schedule for first production in June 2028.
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