10:15 AM EDT, 08/08/2024 (MT Newswires) -- GoGold Resources ( GLGDF ) on Thursday reported a swing to a third quarter loss even though revenue rose. The company also flagged the next decade plus of growth lies within its flagship Los Ricos district.

The company recorded a net loss of near US$0.5 million or $0.002, compared with net income of US$2.6 million or 0.008, last year.

Revenue rose to near US$10.4 million, from near US$8.5 million. GoGold sold 365,119 silver equivalent ounces at US$28.37 per ounce, compared with 360,011 silver equivalent ounces at US$23.57 per ounce last year.

Among highlights for the quarter ending June 30, 2024: it had cash of US$76.4 million and recorded a first sale of zinc precipitate from SART zinc expansion.

"During the quarter, we passed 10 years of continuous production at Parral," said Brad Langille, President and CEO. "We feel that the next decade plus of growth in GoGold lies within our flagship Los Ricos district, with the immediate catalyst being the release of the results of our definitive feasibility study in September at Los Ricos South. During the engineering work for the feasibility study we have redesigned the mine plan to have a bulk underground operation for at least the first decade of production. We are confident that we will be issued an underground permit and therefore are preparing to execute on long lead time items such as construction of a power line and paying deposits for certain major components."

GGD was at last look down 0.01 at $1.25

Price: 1.25, Change: -0.01, Percent Change: -0.79