1. GoGold announced a detailed feasibility study for the Los Ricos South Project. 2. The project plans for 2,000 tonnes per day mining to minimize surface impact. 3. Projected after-tax NPV of $355 million based on key metal prices. 4. Positive permit outcomes expected by March 2025 enhance construction prospects. 5. Feasibility study includes advanced engineering details to expedite development.
Positive feasibility studies often boost confidence in mining projects. Similar past cases showed stock rallies after successful studies.
The article outlines a feasibility study with substantial capital and resource details, crucial for GLGDF's future.
The completion of construction and future cash flows indicate long-term benefits. Past projects usually see sustained impacts following successful launches.
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Trading Symbols: TSX: GGD, OTCQX: GLGDF
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") announced its Feasibility Study ("FS") for the Los Ricos South ("LRS") Project located in Jalisco State, Mexico. The FS includes a re-engineered underground mine plan capable of processing 2,000 tonnes per day.
Ausenco Engineering Canada ULC completed the design and cost estimates for the process plant, incorporating a Front-End Engineering & Design (FEED) component that adds technical and engineering detail.
Highlights of the FS, based on a silver price of US$26.80/oz, a gold price of US$2,330/oz, and a copper price of US$4.00/lb (all figures in US dollars unless otherwise stated):
"Our expectation is that we will receive a positive outcome on our permit application for our underground mine by the end of March 2025..." said Brad Langille, President and CEO.
| Assumption / Result | Unit | Value |
|---|---|---|
| Total UG Ore Mined | kt | 7,512 |
| UG Silver Grade | g/t | 170 |
| Mine Life | Yrs | 12 |
| Operating Cash Cost | $/oz AgEq | 11.22 |
The project is expected to transition smoothly into the detailed engineering and field execution phases, pending the permit application outcome. The focus remains on expanding high-grade underground resources in Los Ricos South.
The FS is prepared by independent consultants who are Qualified Persons ("QP") as defined by NI 43-101 Standards of Disclosure for Mineral. Each QP has confirmed that this release accurately reflects the information contained in their sections of the FS.
GoGold Resources is a Canadian-based producer focused on operating and acquiring high-quality projects in Mexico, headquartered in Halifax, NS.