Golconda Gold Ltd. Releases Financial and Operating Results for 2024

Core Viewpoint - Golconda Gold Ltd. reported significant improvements in its operating and financial performance for the year ended December 31, 2024, driven by record gold prices and increased production, positioning the company for sustainable growth in 2025 and beyond [4]. Financial Performance - For FY 2024, Golconda Gold's operating costs totaled $11,950,037, with a total operating cash cost excluding royalties of $10,506,255 [5]. - The company mined 87,695 tonnes of ore with an average grade of 3.18 g/t, a 38% increase in ore tonnes mined compared to 63,386 tonnes at 3.30 g/t in FY 2023 [7]. - Gold production reached 7,712 ounces, a 22% increase from 6,339 ounces in FY 2023, with revenue generated from gold sales amounting to $13.8 million [7]. - The operating cash cost per payable ounce was $1,721, compared to $1,596 in FY 2023 [7]. Production Growth - The second half of 2024 saw a 91% increase in ore mined, a 95% increase in waste development, and a 49% increase in gold produced compared to the first half of 2024 [7]. - The company is well-positioned to capitalize on production growth in 2025 and beyond, as stated by the CEO [4]. Company Overview - Golconda Gold is an un-hedged gold producer and explorer with operations in South Africa and New Mexico, committed to world-class standards and community contributions [4]. - The management team consists of senior mining professionals with extensive experience in mining and processing operations [4].