GoGold Resources (GGD) - Raising $30M to Accelerate Development of Los Ricos
Matthew Gordon, Ptolemy Capital
2 Weeks ago
Gold and silver are both commodities in favourable bull environments right now, and gold mining and silver mining companies have been brought into focus.
GoGold is a Canadian-based producer of gold and silver with gold and silver mining assets in Mexico. Having previously constructed 3 gold-silver mines, the team at GoGold Resources is now working hard to develop a 4th. This team has an extended track record, raising over C$800M in equity and C$200M in debt historically.
Drilling at Los Rico and full operation at Parral recommenced in early June, as the company looks to bounce back from the COVID-19 lockdown. Some high-grade gold intersections have been coming through the drill bit at Los Ricos North: the company's main focus for generating value for shareholders. The first drill results from the start of August threw up numbers including 29.8m of 713g/t silver equivalent, including 4.5m of 4,251g/t silver equivalent.
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