RE:RE:RE:NEWS-GoGold Production Increase of 45% Over Previous Quarter yes yes I know. Managment has been saying that for the past 3 years and would be very happy to accept a takeout. I bet they would even be happy with $1.50 if it means they get to cash out.
GoGold Resources Inc. (TSX: GGD) ("GoGold", "the Company") reports that the Company produced 335,183 silver equivalent ounces for the second quarter ended March 31, 2016 which represents a 45 percent increase over the previous quarter.
Read more at https://www.stockhouse.com/news/press-releases/2016/04/07/gogold-production-increase-of-45-over-previous-quarter#jrQMoh4HCuHIZ6ke.99
333,183 oz silver annualized production is less than 1.4M oz. Heck lets call it 1.5M oz X $15 current silver price = $22.5 Million in revenue, which we dont even know there will be a net profit on... yes other mine coming into production and maybe it will perform as planned.
How much profit do you think the company will earn in 2017???
$5 million, $10 million, $15 million?? This company is trading at ridiculous multiples even for a growth stocks and just a junior!
And you want to talk about managment... what sucsesses have they had?
Gammon Gold where their main asset was overstated and performed poorly and was sold off for a fraction of what it cost them to build it. Or Mexgold which they absorbed in to Gammon Gold only to later shut down and write off the poorly producing mine.
Greatly overvalued, your only hope is they find a sucker to buy this
Good luck