GoGold approved to build $227M mine in Mexico
- •Just read this article about GoGold getting the green light for their new mine in Mexico – Los Ricos South ( link to article here ).
- •Holy cow, 80 million ounces of silver-equivalent over 15 years?
- •That's a serious amount of precious metals coming online.
Just read this article about GoGold getting the green light for their new mine in Mexico – Los Ricos South (link to article here). Holy cow, 80 million ounces of silver-equivalent over 15 years? That's a serious amount of precious metals coming online. As someone who's been investing in mining stocks for a while now, this is exactly the kind of news I look for. It's not every day you see a project of this scale get approved without a hitch, especially in some of the more… shall we say, "fluid" geopolitical landscapes.
My first thought went straight to the long-term implications for silver prices. While 80 million ounces isn't going to rock the global supply overnight, consistent, predictable production like this from a new mine adds a layer of stability and visibility to the industry. I've got a decent chunk of my retirement portfolio tied up in precious metals, both paper and physical, so anything that affects the underlying commodity is always on my radar. Also, considering the tax implications of growth like this, I'm always trying to stay ahead of the curve. If anyone's also thinking about the tax side of things when it comes to their gold and silver holdings, the Gold IRA Blueprint tool is actually pretty comprehensive. Might be useful for some of you too, especially with new projects coming online potentially shifting valuations.
What do you all think? Are you bullish on GoGold after this news? Does this impact your own outlook on silver or other precious metals? I'm curious to hear if any of you have been following GoGold specifically, or if you have any insights on mining operations in Mexico. Always great to get different perspectives from this community!