10:42 AM EST, 12/12/2024 (MT Newswires) -- GoGold Resources ( GLGDF ) on Thursday reported a fourth-quarter swing to profit as revenue jumped, boosted by Parral.

The company reported a profit of US$0.72 million, or US$0.002 per share, a turnaround from last year's loss of US$4.3 million, or US$0.014 per share.

Revenue rose more than 80% to US$10.4 million, from US$5.7 million. For the year ending September 30, 2024, Parral revenue increased by 20%, generating $37 million from the sale of 1.4 million silver equivalent ounces.

GoGold sold 362,314 silver equivalent ounces during the quarter, at a realized silver price of US$28.72 per ounce, compared with last year's 243,518 silver equivalent ounces at US$23.37 per ounce.

Among other Q4 highlights, total tonnes stacked was 363,695; Adjusted AISC per silver equivalent ounce was $23.26; and Adjusted cash cost per silver equivalent ounce $17.71.

"The SART Zinc circuit addition which we completed in the year has performed well. Not only has the circuit given us a saleable zinc precipitate, but also removing zinc from the solution has increased the leachability of the gold and silver. This has significantly increased the production and profitability at Parral, which we are seeing in our current December quarter," said Brad Langille, President and CEO. "Looking forward to 2025, we are confident we will have our permit for Los Ricos South and be in a position to make a positive construction decision moving towards production of the company's second operating mine."

The company's shares were last seen down $0.055, to $1.165, on the Toronto Stock Exchange, amid big losses for the broader market.

Price: 1.17, Change: -0.05, Percent Change: -4.51