Golconda Gold Ltd V.GG

Alternate Symbol(s): GGGOF

Metals & Mining Gold

Golconda Gold Ltd. is a gold producer and explorer with mining operations and exploration tenements in South Africa and the United States. Its principal business activities are the exploration, development, and operation of gold mining properties. It operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa), through subsidiaries located in Mauritius and South Africa; and a mine and processing infrastructure located in the United States of America (the Summit Property). Its Galaxy gold property is situated about eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers 58.6 square kilometers and is part of the Barberton Greenstone Belt.

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Golconda Gold Ltd > any expectations on financials tomorrow. less covid downtime

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Post by onetimeron Nov 17, 2020 11:13am

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any expectations on financials tomorrow. less covid downtime

Earnings from mining operations for the period of $1,980,054.
Positive cash flows from operating activities(1), before working capital, of $3,193,312.
Mupane had 50 days of production disruption due to restrictions implemented as a result of COVID-19. Despite these restrictions, Mupane produced 5,691 ounces of gold and sold its gold at an average sales price of $1,716 per ounce.
Galaxy had 66 days of production disruption due to restrictions implemented as a result of COVID-19. Despite these restrictions, it produced 855 ounces of contained gold in concentrate with final pricing still to be confirmed.