GoGold is a mature miner working the Parral mine in Mexico. The company has had ten consecutive quarters of net income from this property and has over $73 million in cash which they are using for the development of Los Ricos property.
For the quarter, GoGold produced over 315 thousand ounces of silver, over 3 thousand ounces of gold, and 120 tonnes of copper. The polymetallic deposit is providing robust returns due to solid prices in all three products, with copper recently breaching a 10-year price top.
The world needs more of these metals, which makes the long-term prospects for GoGold so promising. The fact they are able to finance the exploration of their second mine without taking on debt or having to dilute shareholders makes the company very attractive to investors looking for stable growth and returns.
TSX: GGD / OTCQX: GLGDF
What could make GoGold much more interesting in the future is higher gold and silver prices, for which many analysts are expecting as worldwide debt levels continue to increase.
Moreover, with silver having record demand levels for industrial use, we see the potential per ounce profit of silver really supporting higher profits and a higher future price of the company’s stock.