Canadian precious metals producer GoGold Resources reported a 25% decrease in its output for the fiscal fourth quarter on Tuesday. The drop from 400,467 to 300,789 silver equivalent ounces was primarily due to the completion of a rehandling program at Parral Tailings mine, which led to the creation of new pad space and deferred further pad capital expenditure.
Despite the overall decline in output, the company saw a 16% increase in silver production, reaching 169,443 ounces. However, production of gold and copper took a hit, sliding by 51% to 1,106 ounces and by 7.3% to 115 metric tons respectively.
GoGold Resources is currently progressing with the construction of a zinc circuit addition at the SART plant in Parral. This development is aimed at enhancing metallurgical recoveries of gold and silver from lower-grade material. Brad Langille, President and Chief Executive of GoGold Resources, anticipates an increase in production following the completion of this addition by the end of the year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.