GoGold Resources Ltd. (
TSX: T.GGD,
Stock Forum) on Monday released an update on the commissioning of its Parral Tailings Project in Mexico.
The company said quarterly production has doubled from 115,667 silver equivalent ounces in the quarter ended September 30, 2014 to 230,240 ounces in the quarter ended December 31, 2014.
The cash cost per ounce of silver averaged $5.97 (net of gold credits) and $6.62 per silver equivalent ounce during the quarter ending December 31, 2014.
The company said in a press release it expects that Parral will be one of the lower cost silver producers in Mexico.
GoGold shares rose 5.3% to $1.60 on Monday, leaving a market cap of $258.8 million, based on 161.8 million shares outstanding. The 52-week range is $1.84 and $1.20.