GoGold Resources, a Canadian-based silver and gold producer, experienced a 25% decrease in output during its fiscal fourth quarter. This decline was primarily due to the completion of a rehandling program at its main facility.
Output Statistics
In the three months ending on September 30th, GoGold produced 300,789 silver equivalent ounces, a decrease from the 400,467 ounces produced in the same period last year. Despite this overall drop in output, silver production actually increased by 16% to reach 169,443 ounces. However, gold output decreased by 51% to only 1,106 ounces, and copper fell by 7.3% to 115 metric tons.
Impact of the Rehandling Program
During the quarter, GoGold undertook a rehandling program at its Parral Tailings mine in the state of Chihuahua. This program allowed for the reclamation of new pad space, ultimately deferring further pad capital expenditure. However, this rehandling process resulted in a lower grade material being processed, which directly affected production levels.
Plans for SART Zinc Circuit
GoGold is currently in the process of constructing a zinc circuit addition to the SART plant at Parral. This project is well underway and is expected to be completed by the end of this year, while remaining within its budget and schedule. The addition of this zinc circuit is anticipated to significantly improve the metallurgical recoveries of gold and silver, which will have a positive impact on production once the commissioning is finished.
