GoGold Resources

Website: www.gogoldresources.com
Primary ticker: TSX:GGD; OTC:GLGDF
Stage of development: Exploration, Production
Primary minerals: Gold, Silver
Project to promote: Los Ricos

Live financials

GoGold Resources Inc is a Canadian-based mining company. It engages in the business of exploration, development, and production of gold and silver. These processes are primarily carried in Mexico by the company. The mining project owned by the company include Parral mine project which is in commercial production. The company generates revenues from the sale of gold, silver, and the other by-products and uses the cashflow to fund exploration at its Los Ricos project.

H.C.Wainwright & Co. Report in March 2019

Management Profile

Brad Langille, President  & CEO

Brad Langille, GoGold’s President and CEO is a successful mine builder. He and other members of the senior executive have raised just over a billion dollars in capital markets to bring mines into production. The founders and senior management have a proven history of strategically building ounces, forming long-term financial allies, and creating thousands of jobs.

What is your rationale for attending 121 Mining Investment?

Looking to meet investors who want to invest in a public mining company which generates cashflow to self fund its exploration property.

What recent news would you like to highlight to investors attending?

On March 26, 2019, the company announced an option on an exciting package of 29 mining concessions in Mexico. On April 4, 2019, the company announced record quarterly production at its production facility, Parral. Production continues to grow and the cash flow from operations will be used to fund the exploration at the Los Ricos project. This is a very unique company in the small cap mining space in that it can self fund exploration and does not have to raise equity to grow.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Continue to expand produciton at Parral and continue to grow the stacking rates. Begin to release the initial drilling results at Los Ricos which will confirm historical drilling results.

6 Months:

Expand our concessions at Los Ricos and to continue to drill the old mining zones as well as some greenfield trenching/drilling. The company should be generating operational cash flow from Parral.

12 Months:

Parral should be producing at the full run rate of 2.2-2.4mm ounces of silver equivalent per year. The initial 43-101 resource will be published at Los Ricos.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Precious metal prices, and we are not hedging at these levels because that would be imprudent.

What do you think makes your company such a compelling investment?

The company trades at a steep discount to NAV as a result of the prolonged downturn in the sector. What makes the company compelling is current assets of US$17mm and growing production which will generate operational cash flow that will fund the exploration at our new project, Los Ricos. GoGold is a company that can operate and grow at the bottom of a cycle and not have to raise equity and dilute shareholders.