GoGold Resources Inc. (TSX: GGD, OTCQX: GLGDF) kept its momentum going this past quarter, showcasing a blend of increasing quarterly revenue, healthy profit, and rising production figures that underline the company’s progress in 2025. The Halifax-based silver and gold producer, primarily focused on Mexico’s mining sector, released its financial results for the quarter ending June 30, 2025, reporting notable growth in both revenue and net income when compared to the prior year.
GoGold delivered net income of $8.2 million for the quarter, driven by revenue of $17.7 million generated from the sale of 527,933 silver equivalent ounces. This uptick in revenue, more than 70% higher than the comparable period in 2024, reflects the continued success of the Parral tailings reprocessing operation in the state of Chihuahua. The company said it realized an average price of $33.54 per silver equivalent ounce, with total production for the quarter coming in at 555,500 silver equivalent ounces, spanning silver, gold, copper, and zinc.
President and CEO Brad Langille was candid about the drivers behind the company’s performance. He pointed to the continuing strong cash flow from Parral, helping GoGold generate operating cash flow of $7 million for the quarter and exceeding both its investment at the Los Ricos project in Jalisco and overall corporate costs. For the nine months ended June 30, 2025, operating cash flows reached more than $20 million, more than twice the level of the previous year. These results bring GoGold’s cash-on-hand to $139 million at the end of the quarter, up $61 million from the previous three months, boosted in part by the completion of a recently announced $57 million financing.
A closer look at key financial and operational metrics confirms these trends. Quarterly revenue increased from $10.4 million in 2024’s equivalent period to $17.7 million this year, with net income rising from a loss of $0.5 million last year to a positive $8.2 million this quarter. On a per-share basis, net income moved up to $0.022 from a loss of $0.002 per share a year ago. Cash flow from operations rebounded dramatically as well, from a negative $2.2 million last year to $7.2 million in Q3 2025.
While total production was slightly down at 402,906 tonnes stacked (versus 425,804 last year), the increase in realized silver price and enhanced efficiency more than offset this, reflected in better top-line and profitability numbers. Operating income for the quarter also jumped year-on-year, moving from $3.6 million to $4.6 million.
Cost control remains a focus for GoGold, with the adjusted all-in sustaining cost per silver equivalent ounce dropping to $22.78 from $24.59 last year. The adjusted cash cost also narrowed to $17.21, compared with $18.54 a year earlier, helping to support margins as prices for metals stay robust. Looking at the broader nine-month period, the trends hold: revenue more than doubled to $54.4 million, net income reached $11.4 million, and operating cash flow hit $20.3 million, all major improvements from 2024.
The future may hold additional upside. With GoGold’s cash reserves comfortably covering current operations and investments, the company is preparing for a new phase of development, especially as it awaits the anticipated permit approval for its Los Ricos South project in Jalisco. CEO Langille emphasized the company’s readiness for these next steps due to “strong cash flow generation and our cash position of $139 million.”
GoGold Resources continues to carve out its place among North American mid-tier mining companies, building on the strengths of its existing projects in Mexico and balancing operational discipline with an eye on strategic expansion.
