Reported Earnings • May 05
Full year 2025 earnings released: US$0.30 loss per share (vs US$0.028 loss in FY 2024) Full year 2025 results: US$0.30 loss per share (further deteriorated from US$0.028 loss in FY 2024). Revenue: US$23.0m (up 13% from FY 2024). Net loss: US$68.4m (loss widened US$65.9m from FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 175% per year, which means it is well ahead of earnings. Announcement • Jan 27
Goldgroup Mining Inc. (TSXV:GGA) entered into a definitive arrangement agreement and plan of merger to acquire Gold Resource Corporation (NYSEAM:GORO). Goldgroup Mining Inc. (TSXV:GGA) entered into a definitive arrangement agreement and plan of merger to acquire Gold Resource Corporation (NYSEAM:GORO) for approximately $370 million on January 26, 2026. Pursuant to the Arrangement Agreement, Gold Resource’s stockholders will receive 1.4476 common shares of Goldgroup for each share of the Gold Resource’s common stock (adjusted to 0.3619 common shares of Goldgroup for each share of the Company’s common stock as a result of a four-for-one share consolidation to be completed by Goldgroup prior to closing). Based on the closing price of Goldgroup’s common shares on January 23, 2026, the exchange ratio represents a value of $2.25 per share of the Company’s common stock, reflecting a 39% premium to the Company’s closing price on January 23, 2026. The Transaction values the Company’s common stock at approximately $372 million on a fully-diluted in-the-money basis and based on the value of Goldgroup shares on January 23, 2026. The proposed Transaction will occur by way of a reverse triangular merger in which GRC will merge with a wholly owned subsidiary of Goldgroup under Colorado law and a plan of arrangement under the Business Corporations Act, with GRC surviving as a wholly owned subsidiary of Goldgroup.
Upon closing, the board of directors of Goldgroup will be comprised of three directors selected by Goldgroup and two directors selected by GRC. The parties anticipate that the executive management team of GRC will become the officers of the combined company.
The transaction is subject to customary closing conditions, including approval by the shareholders of each of Goldgroup and GRC, approval of the Supreme Court of British Columbia in respect of the Arrangement, approval of the TSX Venture Exchange (for Goldgroup), approval by the Mexican National Antitrust Commission (Comisión Nacional Antimonopolio) and approval of merger agreement by the boards. The Board of Directors of Gold Resource Corporation formed a special committee for the transaction. The deal has been unanimously approved by the board. The expected completion of the transaction is in the second quarter of 2026.
Cozen O'Connor LLP acted as legal advisor for Goldgroup Mining Inc. McMillan LLP acted as legal advisor and Fort Capital Partners Ontario acted as fairness opinion provider for Goldgroup Mining Inc' Special Committee. Cormark Securities Inc. acted as financial advisor and fairness opinion provider for Gold Resource Corporation. Davis Graham & Stubbs LLP acted as legal advisor for Gold Resource Corporation. Cassels Brock & Blackwell LLP acted as legal advisor for Gold Resource Corporation. Sanchez Mejorada, Velasco Y Ribe, S.C acted as legal advisor for Gold Resource Corporation. Announcement • Jan 02
An undisclosed buyer agreed to acquire Minera Apolo S.A. de C.V. from Goldgroup Mining Inc. (TSXV:GGA) for $5 million. An undisclosed buyer agreed to acquire Minera Apolo S.A. de C.V. from Goldgroup Mining Inc. (TSXV:GGA) for $5 million on December 31, 2025. A cash consideration of $3 million will be paid by the buyer. The consideration consists of promissory note of the buyer having a value of $2 million to be issued for common equity of Minera Apolo S.A. de C.V. As part of consideration, $5 million is paid towards common equity of Minera Apolo S.A. de C.V.
The closing of the sale of Apolo is subject to the approval of the TSX Venture Exchange. The expected completion of the transaction is February 16, 2026. Reported Earnings • Dec 03
Third quarter 2025 earnings released: US$0.017 loss per share (vs US$0.014 loss in 3Q 2024) Third quarter 2025 results: US$0.017 loss per share (further deteriorated from US$0.014 loss in 3Q 2024). Revenue: US$3.71m (flat on 3Q 2024). Net loss: US$4.77m (loss widened 316% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 119% per year, which means it is well ahead of earnings. Announcement • Sep 13
Goldgroup Mining Inc. announced that it has received CAD 4 million in funding On September 12, 2025, Goldgroup Mining Inc. closed the transaction. The company issued 4,848,485 units at an issue price of CAD 0.825 for the proceeds of CAD 4,000,000. Each Unit will consist of one Common Share and one common share purchase warrant, with each Warrant being exercisable to purchase one additional Common Share at a price of CAD 1.05 until September 12, 2027. The Company paid cash finder’s fees of CAD 182,505, issued 201,718 finder’s warrants and 1,086,187 finder’s units to finders in connection with the Private Placement. Each finder’s unit consists of one Common Share and one common share purchase warrant, with each warrant being exercisable to purchase one Common Share at a price of CAD 1.05 until September 12, 2027. All securities issued pursuant to the Private Placement will be subject to statutory hold periods expiring January 13, 2026. Closing of the Private Placement is subject to final approval of the TSX Venture Exchange. Reported Earnings • Aug 31
Second quarter 2025 earnings released: US$0.17 loss per share (vs US$0.009 profit in 2Q 2024) Second quarter 2025 results: US$0.17 loss per share (down from US$0.009 profit in 2Q 2024). Revenue: US$5.36m (down 24% from 2Q 2024). Net loss: US$35.1m (down US$35.8m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 22
Goldgroup Mining Inc. announced that it expects to receive CAD 4 million in funding Goldgroup Mining Inc. announced a non-brokered private placement to issue 5,000,000 units at a price of CAD 0.80 per unit for gross proceeds of CAD 4,000,000 on August 21, 2025. Each unit will consist of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one additional common share at a price of CAD 1.10 for 24 months from the date of issuance. The company intends to pay finders' fees to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The private placement is subject to approval of the TSXV, and all securities issued under the private placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the private placement.
On August 22, 2025, the company amended the terms of the transaction. The company announced that now each unit will consist of one common share and one common share purchase warrant, with each full warrant being exercisable to purchase one additional common share at a price of CAD 1.10 for 24 months from the date of issuance. Recent Insider Transactions • Aug 10
Independent Director recently bought CA$108k worth of stock On the 5th of August, Roberto Guzman Garcia bought around 100k shares on-market at roughly CA$1.08 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$113k more in shares than they have sold in the last 12 months. Announcement • Aug 07
Goldgroup Mining Inc. announced that it has received CAD 12 million in funding from 2176423 Ontario Ltd. On August 5, 2025, Goldgroup Mining Inc closed the transaction. The transaction involved participation of Mr. Eric Sprott, through 2176423 Ontario Ltd for proceeds of CAD 1,500,000. Each warrant is exercisable into one common share at a price of CAD 1.10 per share until August 5, 2027. Mr. Sprott beneficially owns and controls 29,829,500 common Shares and 15,852,250 Warrants representing 10.5% of the outstanding Shares after completion of offering and owned 10.4% stake prior offering. All securities issued pursuant to the offering will be subject to statutory hold periods expiring December 6, 2025. An insider of the company acquired 1,875,000 Units or 12.50%. The company issued 1,086,187 finder’s units to finders in connection with the transaction. Closing of the transaction is subject to final approval of the stock exchange. Reported Earnings • Jun 02
First quarter 2025 earnings released: US$0.066 loss per share (vs US$0.003 loss in 1Q 2024) First quarter 2025 results: US$0.066 loss per share (further deteriorated from US$0.003 loss in 1Q 2024). Revenue: US$4.58m (down 22% from 1Q 2024). Net loss: US$7.21m (loss widened US$6.94m from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Goldgroup Mining Inc. announced that it has received CAD 15 million in funding from 2176423 Ontario Ltd. On May 8, 2025. Goldgroup Mining Inc. has closed the transaction. It has issued 27,272,727 units of the Company at a price of CAD 0.55 per unit for gross proceeds of CAD 15 million. Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired
5,454,500 Units at CAD 0.55 per Unit for total consideration of approximately CAD 3 million. The Company paid cash of CAD 4,514 and issued 631,794 finder’s units to finders in connection with the Private Placement. Announcement • Apr 12
Goldgroup Mining Inc. announced that it expects to receive CAD 15 million in funding Goldgroup Mining Inc. announced a non-brokered private placement that it will issue up to 27,272,727 units of the company at a price of CAD 0.55 per unit for the gross proceeds of up to CAD 14,999,999.85 on April 11, 2025. Each unit will consist of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one common share at a price of CAD 0.75 for 18 months from the date of issuance. The company intends to pay finders' fees to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX-V, and all securities issued under the private placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the private placement. Announcement • Mar 29
Goldgroup Mining Inc. announced that it has received CAD 7.774999 million in funding On March 28, 2025. it has issued 2,583,330 units at a price of CAD 0.30 per unit for gross proceeds of CAD 774,999 under its second tranche. The company paid a cash finders' fee of CAD 300 in relation to the second tranche. Announcement • Mar 12
Goldgroup Mining Inc. announced that it expects to receive CAD 7 million in funding Goldgroup Mining Inc. announced a private placement of a non-brokered private placement of up to 23,333,334 units of the company at a price of CAD 0.30 per unit for the gross proceeds of CAD 7,000,000.2 on March 11, 2025. Each Unit will consist of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one Common Share at a price of CAD 0.45 for 24 months from the date of issuance. The Company intends to pay finders' fees to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (“TSXV”). The Private Placement is subject to approval of the TSXV, and all securities issued under the Private Placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the Private Placement. New Risk • Feb 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-US$6.7m). Earnings have declined by 10.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risk Market cap is less than US$100m (CA$64.9m market cap, or US$45.8m). New Risk • Feb 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 72% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$6.7m). Earnings have declined by 10.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (CA$35.7m market cap, or US$24.9m). Announcement • Jan 22
Goldgroup Mining Inc. announced that it has received CAD 3.5 million in funding On January 21, 2025. Goldgroup Mining Inc. closed the transaction. The company announced that it has issued 35,000,000 units at price of CAD 0.1 for proceeds of CAD 3,500,000 on December 3, 2024. Each unit will consist of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one common share at a price of CAD 0.15 for 24 months from the date of issuance. The company paid cash finders' fees of CAD 202,560 and issued 2,025,600 finders' warrants to a finder in connection with the offering. The finders' warrants have the same terms and conditions as the warrant. The securities issued under the private placement are subject to a four-month hold period that expires on May 22, 2025. Closing of the private placement is subject to final approval of the TSX Venture Exchange. Announcement • Dec 04
Goldgroup Mining Inc. announced that it expects to receive CAD 3.5 million in funding Goldgroup Mining Inc. announced a non-brokered private placement to issue 35,000,000 units at price of CAD 0.1 for proceeds of CAD 3,500,000 on December 3, 2024. Each unit will consist of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one common share at a price of CAD 0.15 for 24 months from the date of issuance. The company may pay finders' fees to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The private placement is subject to approval of the TSX-V, and all securities issued under the private placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the private placement. Reported Earnings • Dec 01
Third quarter 2024 earnings released: US$0.014 loss per share (vs US$0.022 loss in 3Q 2023) Third quarter 2024 results: US$0.014 loss per share. Revenue: US$3.70m (down 2.6% from 3Q 2023). Net loss: US$1.15m (loss widened 7.3% from 3Q 2023). Announcement • Nov 19
Goldgroup Mining Inc. announced that it has received CAD 0.175 million in funding On November 18, 2024, Goldgroup Mining Inc. closed the transaction. No commissions or finder fees were payable in connection with the Private Placement. The securities issued under the Private Placement are subject to a four month hold period that expires on March 19, 2025. Closing of the Private Placement is subject to final approval of the TSX Venture Exchange. Announcement • Oct 22
Goldgroup Mining Inc. Shares Recent Positive Metallurgical Testing Results for Esperanza and Neuva Esperanza Zones At Cerro Prieto Mine Located Near Magdelana, Sonora State, Mexico Goldgroup Mining Inc. shared recent positive metallurgical testing results for Esperanza and Neuva Esperanza Zones at the Company's 100% owned Cerro Prieto Mine located near Magdelana, Sonora State, Mexico. HIGHLIGHTS Cyanide Agitated Bottle Roll Leach Testing on Composite Samples: Esperanza Zone - Average gold, silver extractions of 78. 03%, and 63. 12% obtained after 72 hours of retention time. Nueva Esperanza Zone - Average gold silver extractions of 82. 07%, and 90. 42% obtained after 72 hours of retention time. Locked Cycle Cyanide Column Testing for 78 days on the Esperanza Composite o The highest gold extraction of 78. 88% with silver extraction of 21. 18% was obtained at a sodium cyanide concentration of 600 ppm and crush size of P80 of 3/8", resulting in, a calculated gold and silver recoveries of 72. 09% and17. 27% respectively (3% Discounted from Column Extraction) x 95% ADR Plant Recovery) Locked Cycle Cyanide Column Testing for 78 days on the Nueva Esperanza Composite. The crush size of P80 of 3/8" gives gold extraction of 77. 30% and silver extraction of 31. 37%, obtained at a sodium cyanide concentration of 600 ppm and crush size of P80 of 3/8", resulting in, a calculated gold and silver recoveries of 72. 09% and17. 27% respectively (3% Discounted from Column Extraction) x 95% ADR Plant Recovery) Metallurgical Test Work in a Certified Commercial Metallurgical Laboratory In May 2024, Cerro Prieto mine site personnel prepared two composites identified as Esperanza and Nueva Esperanza using 1/4 split of HQ drill core samples for conducting a metallurgical study specified and under the direction by Rodrigo R Carneiro MS, a Qualified Person under 43- 101 guidelines, which included: Sample preparation and head screen assays (Au, Ag & Cu) at two crush sizes of P80 of 5/8" and P80 of 3/8", Agitated cyanide bottle roll testing on each composite crushed to 100% minus 10 Mesh (2mm) for 72 hours, Locked cycle column testing on each composite at two crush sizes of P80 of 5/8" and P80 of 3/8" for 78 days. In June 2024, a metallurgical study on the Esperanza Composite and Nueva Esperanza Composite was started at Laboratorio Tecnologico de Metalurgia (LTM) located in Hermosillo, Sonora. LTM is an ISO certified commercial laboratory, and the results obtained in the cyanide agitated bottle roll tests and locked cycle column leach tests on composites of the Esperanza and Nueva Esperanza Composites. The following comments relate to the summary of results obtained on the cyanide agitated leach testing conducted on the Esperanza Composite samples at a particle size of 100% minus 10 Mesh. Average gold, silver and copper extractions of 78. 03%, 63. 12 and 4. 79% respectively were obtained after 72 hours of retention time. Average NaCN and CaO consumptions were 0. 760 kg/t and 1. 958 kg/t respectively, NaCN and CaO consumptions can be considered in the medium range for an agitated leach at a particle size of 100% minus 10 Mesh. Average gold, silver and copper calculated head of 0. 622 g/t, 1. 533 g/t and 50. 10 g/t respectively were obtained on the Esperanza Composite. The following comments relate to the summary of results obtained on the cyanide agitated leach testing conducted on the Nueva Esperanza Composite samples at a particle size of 100% minus 10 Mesh. Average gold, silver and copper extractions of 82. 07%, 90. 42 and 7. 72% respectively were obtained after 72 hours of retention time. Average NaCN and CaO consumptions were 0. 949 kg/t and 2. 120 kg/t respectively, NaCN and CaO consumptions can be considered in the medium range for an agitated leach at a particle size of 100% minus 10 Mesh. Average gold, silver and copper calculated head of 0. 823 g/t, 3. 176 g/t and 66. 42 g/t respectively were obtained on the Esperanza Composite. Locked Cycle Cyanide Column Testing Esperanza Zone Four (4) locked cycle column tests were conducted on the Esperanza Composite at the crush sizes of P80 of 5/8" and P80 of 3/8" for 78 days of leach followed by 4 days of wash cycle and 2 days of drain cycle at a commercial ISO certified metallurgical laboratory. The following comments relate to the column tests conducted on the Esperanza Composite at crush sizes of P80 of 5/8" and P80 of 3/8" using sodium cyanide concentrations in the feed solution of 300 ppm and 600 ppm. The highest gold extraction of 78. 88% was obtained at a sodium cyanide concentration of 600 ppm and the lowest silver extraction of 21. 18%. It seems that an incremental sodium cyanide consumption of 0. 27 g/t obtained at the crush size of P80 of 3/8" and using 600 ppm of sodium cyanide justifies the additional incremental of gold extraction of 6. 97%. Calculated gold and silver recoveries of 72. 09% and 17. 27% respectively were estimated discounted 3% from the column extraction and ADR Plant recovery of 95%. ted 3% from the column gold and silver extractions and ADR Plant recovery of 95%. Locked Cycle Cyanide Column Testing Nueva Esperanza Zone Two (2) locked cycle column tests were conducted on the Nueva Esperanza Composite at the crush sizes of P80 of 5/8" and P80 of 5/8" for 78 days of leach followed by 4 days of wash cycle and 2 days of drain cycle at a commercial ISO certified metallurgical laboratory. The following comments relate to the column tests conducted on the Nueva Esperanza Composite at two crush sizes of P80 of 5/8" and P80 of 3/8". The crush size of P80 of 3/8" shows the highest gold extraction of 70. 58% and the lowest silver extraction of 26. 95%. The additional incremental of sodium cyanide consumption of 0. 06 g/t should justify the additional incremental of gold extraction of 4. 65% obtained at the crush size of P80 of 3/8". Calculated gold and silver recoveries of 70. 58% and 26. 95% respectively were estimated discounted 3% from the column extraction and ADR Plant recovery of 95%. There was not enough sample weight to conduct two column tests using sodium cyanide concentration of 300 ppm. New Risk • Oct 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 70% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-US$5.9m). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Market cap is less than US$10m (CA$8.84m market cap, or US$6.40m). Announcement • Oct 09
Goldgroup Mining Inc. announced that it has received CAD 0.27 million in funding On October 8, 2024, Goldgroup Mining Inc. closed the transaction. The transaction included participation from two investors. Announcement • Sep 27
Goldgroup Mining Inc. announced that it has received CAD 0.775 million in funding On September 26, 2024. Goldgroup Mining Inc. has closed the transaction Announcement • Aug 23
Goldgroup Mining Inc. announced that it expects to receive CAD 1 million in funding Goldgroup Mining Inc. announced a private placement to issue 20,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 1,000,000 on August 22, 2024. Each unit will consist of one common share and one common share purchase warrant, with each warrant being exercisable to purchase one common share at a price of CAD 0.10 for 24 months from the date of issuance. The private placement is subject to approval of the TSX Venture Exchange, and all securities issued under the private placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the private placement. Announcement • Aug 15
Goldgroup Mining Inc. (TSXV:GGA) agreed to acquire Minera Apolo S.A. de C.V. from a group of creditors for $3.2 million. Goldgroup Mining Inc. (TSXV:GGA) agreed to acquire Minera Apolo S.A. de C.V. from a group of creditors for $3.2 million on August 14, 2024. In consideration for the acquisition of the Loan Facility from the Creditor Group, the Company proposes to issue 50 million common shares pro rata to the members of the Creditor Group, pay cash consideration of $0.5 million within 18 months of the closing date of the Agreement, and pay $1.5 million in contingent consideration which is only due upon the completion of certain criteria, including a positive pre-feasibility study at the Pinos Project, the advancement of the project into commercial production, publishing an updated 43-101 with greater than 200,000 ounces of contained gold equivalent ounces for the Pinos Project, or the Company’s owned interest in the Pinos Project falling to less than 51%. The completion of the transactions are subject to receipt of all necessary approvals, including approval of the TSX Venture Exchange. Announcement • Jul 31
Goldgroup Mining Inc., Annual General Meeting, Sep 26, 2024 Goldgroup Mining Inc., Annual General Meeting, Sep 26, 2024. Location: british columbia, vancouver Canada New Risk • Jun 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$7.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$7.8m free cash flow). Shares are highly illiquid. Negative equity (-US$6.6m). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (189% increase in shares outstanding). Market cap is less than US$10m (CA$2.90m market cap, or US$2.11m). Announcement • Feb 23
Goldgroup Mining Inc. announced that it has received $1.85 million in funding On February 23, 2024, Goldgroup Mining Inc. closed the transaction. The transaction included participation from a single investor Announcement • Jan 27
Goldgroup Mining Inc. Announces Resignation of Javier Reyes from the Board of Directors Goldgroup Mining Inc. announced that Javier Reyes has resigned from the board of directors of the company for personal reasons effective January 26, 2024. Mr. Reyes was appointed to the Board in May, 2013. Announcement • Jan 19
Goldgroup Mining Inc. Announces Board Changes Goldgroup Mining Inc. announced that Mr. Javier Montano has resigned from the Board of Directors. The Company also announced the appointment of Mr. Roberto Guzman to its Board of Directors. Mr. Guzmán obtained a master's degree in Finance from the Universidad Tecnologica de Mexico in 1989 and has more than 25 years of experience in the Financial Sector, primarily in Mexico. Initially working as finance manager for several Mexican publicly traded companies as well as other private Mexican financial companies. Announcement • Jan 17
Goldgroup Mining Inc. announced that it expects to receive $0.4 million in funding Goldgroup Mining Inc. announced a private placement to issue 12% unsecured convertible debt for the gross proceeds of $400,000 on January 16, 2024. The notes bears 12% interest and matures on 18 months and is convertible into common shares at a conversion price of $0.07453 per share. No commissions or fees are payable in connection with the Convertible Debts. The closing of the Convertible Debts is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange.
On the same date, the company announced that it has issued $100,000 in the first tranche. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. CFO, Company Secretary & Director Anthony Balic was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Nov 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$22m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$22m free cash flow). Negative equity (-US$7.4m). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (261% increase in shares outstanding). Market cap is less than US$10m (CA$2.90m market cap, or US$2.11m). Announcement • Oct 19
Goldgroup Mining Inc. (TSX:GGA) signed an agreement to acquire Minera Cerro Esperanza S.A de C.V from Sail Natural Resources, LP. Goldgroup Mining Inc. (TSX:GGA) signed an agreement to acquire Minera Cerro Esperanza S.A de C.V from Sail Natural Resources, LP on October 17, 2023.The Company has elected to settle the full option price of US$1,850,000 in common shares of the Company and will issue 25,067,500 common shares to Calu Opportunity Fund LLP.The completion of the transaction is subject to final TSX approval. Announcement • Oct 05
Goldgroup Mining Inc. Announces Chief Executive Officer Changes Goldgroup Mining Inc. announced the appointment of Mr. Ralph Shearing as the Company's Chief Executive Officer ("CEO") effective October 1, 2023. Anthony Balic, the previous Interim CEO, will continue as the Company's Chief Financial Officer. Mr. Shearing is an experienced and accomplished exploration and mining executive holding a designation of Professional Geologist registered in Alberta (APEGA). Since 1987 he has held senior executive positions of CEO and/or President with public junior mining and exploration companies, primarily with Luca Mining Corp., a company he founded in 1986 and successfully guided the company through the exploration and initial development phase of the Tahuehueto mine located in northwestern Durango Mxico. Recently Mr. Shearing resigned as CEO and president of Luca Mining in place of mining professionals more qualified and experienced in operating underground mining assets. Mr. Shearing's extensive experience of managing junior public companies, overseeing project exploration combined with his keen insight to identify quality mineral exploration and mining assets are a welcome addition to Goldgroup. Announcement • Aug 11
Goldgroup Mining Inc. announced that it has received $2.16 million in funding On August 10, 2023, Goldgroup Mining Inc closed the transaction. The transaction included participation from a single investor. New Risk • Jul 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 152% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$28m free cash flow). Share price has been highly volatile over the past 3 months (26% average weekly change). Negative equity (-US$3.4m). Earnings have declined by 6.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (152% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.60m market cap, or US$1.96m). Announcement • Jan 17
Goldgroup Mining Inc. announced that it has received CAD 0.57 million in funding On January 16, 2023, Goldgroup Mining Inc. closed the transaction. All securities issued in connection with the transaction are subject to a statutory four month hold period expiring May 14, 2023. The transaction is subject to final Toronto Stock Exchange approval. Announcement • Dec 20
Goldgroup Mining Inc. announced that it expects to receive CAD 0.57 million in funding Goldgroup Mining Inc. announced a non-brokered private placement of up to 5,700,000 common shares at issue price of CAD 0.10 for gross proceeds of CAD 570,000 on December 19, 2022. No commissions or fees are payable in connection with the transaction. The closing of the Private Placement is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange. All securities issued under the private placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the transaction. Announcement • Nov 16
Goldgroup Mining Inc. Announces Executive Changes Goldgroup Mining Inc. announced that its Chief Executive Officer John McClintock has resigned effective November 14, 2022, in order to pursue other opportunities. At this time Anthony Balic, the Company's CFO and Director, will become Interim CEO as the Company assesses the vacancy in the position. Reported Earnings • Aug 17
Second quarter 2022 earnings released: US$0.004 loss per share (vs US$0.01 profit in 2Q 2021) Second quarter 2022 results: US$0.004 loss per share (down from US$0.01 profit in 2Q 2021). Net loss: US$887.0k (down 140% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Reported Earnings • May 18
First quarter 2022 earnings released: US$0.004 loss per share (vs US$0.002 loss in 1Q 2021) First quarter 2022 results: US$0.004 loss per share (down from US$0.002 loss in 1Q 2021). Revenue: US$552.0k (down 93% from 1Q 2021). Net loss: US$899.0k (loss widened 117% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • May 07
Goldgroup Mining Inc., Annual General Meeting, Jun 28, 2022 Goldgroup Mining Inc., Annual General Meeting, Jun 28, 2022. Announcement • Apr 20
Goldgroup Mining Inc. announced that it expects to receive CAD 0.63 million in funding Goldgroup Mining Inc. announced a non-brokered private placement of up to 18,000,000 units at CAD 0.035 per unit for gross proceeds of CAD 630,000 on April 19, 2022. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share at CAD 0.05 per share for three years from the date of closing. The transaction is expected to close within four weeks. The closing of the transaction is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange. All securities issued will be subject to statutory hold periods expiring four months and one day from the date of closing of the transaction. Reported Earnings • Apr 02
Full year 2021 earnings released: US$0.005 loss per share (vs US$0.006 loss in FY 2020) Full year 2021 results: US$0.005 loss per share (up from US$0.006 loss in FY 2020). Revenue: US$18.4m (down 7.2% from FY 2020). Net loss: US$1.04m (loss narrowed 16% from FY 2020). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 14
Third quarter 2021 earnings released: US$0.007 loss per share (vs US$0.007 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$5.56m (up 17% from 3Q 2020). Net loss: US$1.38m (loss narrowed 3.1% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS US$0.01 (vs US$0.001 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$7.28m (up 121% from 2Q 2020). Net income: US$2.22m (up US$2.32m from 2Q 2020). Profit margin: 30% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • May 20
First quarter 2021 earnings released: US$0.002 loss per share (vs US$0.001 loss in 1Q 2020) The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$7.35m (up 40% from 1Q 2020). Net loss: US$414.0k (loss widened 159% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 22% per year. Reported Earnings • Apr 03
Full year 2020 earnings released: US$0.006 loss per share (vs US$0.021 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$19.9m (up 2.6% from FY 2019). Net loss: US$1.23m (loss narrowed 68% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Dec 24
Goldgroup Mining Inc. Announces Board Changes Goldgroup Mining Inc. at it's AGM approved appointment of Anthony Balic and Blair Jordan as directors of the Company for the upcoming year. Reported Earnings • Nov 19
Third quarter 2020 earnings released: US$0.007 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: US$4.75m (down 3.2% from 3Q 2019). Net loss: US$1.42m (loss narrowed 51% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.