Goldgroup Mining closed its merger on July 17, 2026, began trading on NYSE American on July 20, and now pairs two operating gold mines in Mexico with a 1.23-million-ounce restart project. This page is the whole story in one scroll — every figure with its source right beside it.
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Sources: NI 43-101 technical report, effective April 30, 2026 (Micon); Gold Resource Corp. Form 10-Q, Q1 2026; issuer investor page, August 19, 2026.
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Here is why this one earns a place on a US retail watchlist, in the time it takes to read it. Goldgroup is a real, cash-generating gold and silver producer — not a concept looking for a mine — that has just rebuilt itself into a bigger platform and put a third mine back on the workbench. Two operations already sell metal, a fourth asset sits in reserve for later, and a well-known resource investor is on the register. Every line below is a figure from a filing, with its source attached, and nothing on this page is a forecast.
Sources: issuer investor page (Aug 19, 2026); San Francisco NI 43-101 (Micon, effective Apr 30, 2026); Form 10-Q, Q1 2026; early-warning report, Jul 20, 2026. The going-concern note is set out in full in the risk factors below.
Four pillars, each with a figure and a filing. Nothing here is a projection of ours — these are the company's own numbers, cited where they live.
Don David (the Arista underground mine, Oaxaca) and Cerro Prieto (Sonora) are both in production, and the Alta Gracia area restarted mining on February 20, 2026. This is not a story about a mine that might exist someday — revenue-generating operations are already running.
Source: company news release, August 17, 2026 (SEC ex-99.4)The San Francisco mine hosts 1.23 million ounces of M&I gold — 48.3 Mt at 0.37 g/t measured plus 56.8 Mt at 0.35 g/t indicated — with a further 178 koz inferred (17.3 Mt at 0.32 g/t). The El Llano exploration target of 40–78 Mt at 0.38–0.61 g/t is conceptual in nature and is not a mineral resource.
Source: NI 43-101 technical report, effective April 30, 2026, by Micon InternationalOperating subsidiary Gold Resource Corp. reported Q1-2026 revenue of US$43.9 million, net income of US$4.7 million, cash of US$31.0 million and positive working capital of US$40.2 million. A small producer that funds itself is a different starting point from one that lives raise-to-raise — though the margin rides on today's metal prices, as the risk section below spells out.
Source: Gold Resource Corp. Form 10-Q, Q1 2026 (SEC)At San Francisco, a 26,053-metre drill program is scheduled to finish in Q4-2026 and a US$850,000 contract has been signed to commission the plant. The company's stated restart window: late 2026 to Q1-2027. That is a window, not a date — the company itself has given two timeframes, so we quote both ends.
Source: San Francisco news release, August 14, 2026 (SEC ex-99.3)A watchlist name is only as good as the rock behind it. Here is the whole portfolio on one screen: two mines already selling metal, one being wired back up, and one held for the future. One hard figure each — the rest lives in the filings.
The underground mine that feeds an 1,800-tonne-per-day flotation plant and generates the group's revenue. The Alta Gracia area restarted mining on February 20, 2026. Drill intercepts are not mineral resources.
Source: news release, Aug 17, 2026 (ex-99.4)The group's second operating mine, in production for more than a decade — a steady, self-funding open-pit operation alongside the underground ounces at Don David.
Source: Form 10-K, FY2025 (SEC)Bought outright in June 2026 and now being prepared to run again: a 26,053-metre drill program is under way and a US$850,000 contract is signed to commission the plant. The company's stated restart window is late 2026 to Q1-2027.
Source: NI 43-101, effective Apr 30, 2026 (Micon)Development optionality, held with both hands. The project is not permitted and stands as collateral for the group's streaming obligation — the counterweight lives in the risk factors below.
Source: Form 10-Q, Q1 2026 (SEC)GORO Stocks reads each new GORO filing and condenses it into one plain-English email — figures first, sources attached, counterweights included. Clearly labeled paid advertising, delivered by email only.
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Beyond the four pillars, the recent record adds texture. Each item below is a fact from a filing, not a forecast.
The most enthusiastic numbers around this story are the company's own targets. They belong on the page — labeled as claims, and anchored to what the group actually sold.
For scale: FY2025 group sales were 23,125 AuEq oz. Getting from there to those targets means multiplying output several times over, and no formal guidance has been published. Treat the targets as the company's stated ambition, nothing more.
Source: Form 6-K furnished August 20, 2026 (SEC) and company news releases.
Goldgroup earns its money in an unusually strong metal market. In Q1-2026 the operating subsidiary realised US$5,098 an ounce for gold and US$98.09 an ounce for silver — historically high levels, and the direct reason a small producer could turn a US$43.9 million quarter into US$4.7 million of net income.
That is the leverage worth understanding. The subsidiary sold about 8,749 gold-equivalent ounces in the quarter, so a small producer's margin moves hard with the metal — which is exactly why the upside is real, and exactly why the same lever cuts the other way. All-in sustaining cost has already climbed to US$3,476 an ounce from US$2,807. Nobody controls where the metal trades next, and this page makes no forecast of it.
A watchlist name earns its place through what is scheduled, not what is hoped. Here is what is on the clock, and what could keep each item from landing.
The program is scheduled to finish in Q4-2026 and feeds an updated picture of the deposit beyond the current NI 43-101 — the raw material for every restart decision that follows. Source: San Francisco news release, Aug 14, 2026 (ex-99.3)
A US$850,000 contract is signed to commission the plant, and the company has publicly framed the restart between late 2026 and Q1-2027. If it lands, the group would move from two producing mines to three. Source: news release, Aug 14, 2026 (ex-99.3)
The next reporting rounds fold Don David, Cerro Prieto and the ramping Alta Gracia area into one set of statements — the first hard read on whether the platform tracks toward the company's stated ambitions.
Every figure on this page traces to a public filing. Start with the annual and quarterly reports:
The most recent operating news, straight from EDGAR:
A concession before the close: none of it is guaranteed. Restart windows slip, drill intercepts are not mineral resources, and a quarter at US$5,098/oz gold flatters every producer's numbers. The counterweights above — and the full risk factors below — are as much a part of this story as the ounces. But two mines are producing, the third has a funded drill program and a signed commissioning contract, and the resource is set out in a current NI 43-101. That is why GORO belongs on the watchlist: as a name to study against its own filings, not as an instruction to act.
Required reading
Good decisions use the whole picture, so here is the rest of it in one place: who paid for this page, and every point Goldgroup Mining Inc. has itself put on the public record that a buyer would want to weigh. Each line is a one-sentence summary that links straight to the document it comes from — read the original rather than take a summary's word for it. The company's filings govern; this is only an index to them.
The audit report on the parent's FY2025 statements includes a Material Uncertainty Related to Going Concern, citing an accumulated deficit of about US$227 million and a working-capital deficiency of about US$40 million. The audit opinion is not modified.
Audited statements FY2025 ↗The operating subsidiary states that its production comes from a single operating unit and that an interruption there would materially affect revenue.
Form 10-K FY2025, Item 1A ↗The company reported proven and probable reserves at Don David down 42% during 2025 — about a third from mining depletion, the rest from engineering deductions including a higher cut-off grade.
Form 10-K FY2025 ↗The streaming obligation stood at US$95.6 million and accrues at a fixed 22.2% a year, secured on the Michigan project.
Form 10-Q Q1 2026, Note 9 ↗The agreement required all material construction and operating permits for the Michigan project by June 20, 2026, with a grace period to November 30, 2026, and sets out the consequences of default.
Form 10-Q Q1 2026 ↗A claim filed in 2020 alleges lack of prior consultation and seeks cancellation of concessions; the company states these include the one where the operating mine sits.
Form 10-K FY2025 ↗The company reported a blockade that closed access to the operating mine in January 2026, lifted in early February, and attributed lower production in the quarter to it.
Company filings, Jan–Feb 2026 ↗An assessment of MXN 331 million, about US$18.4 million, relating to 2015 is in dispute. The company records no liability for it.
Form 10-K FY2025 ↗The subsidiary's share count rose 82% over two years through equity raises, one priced at US$0.45. The company states it requires further capital, with no assurance of favourable terms, and that future issuances could dilute holders.
Form 10-K FY2025 ↗The profitable quarter was reported on realised prices of US$5,098 an ounce for gold and US$98.09 for silver, with all-in sustaining cost of US$3,476 per gold-equivalent ounce, up from US$2,807.
Form 10-Q Q1 2026 ↗No published sell-side estimates or price targets were located as of August 25, 2026.
Verified absence; EDGAR filing index ↗The issuer reports as a foreign private issuer: no United States quarterly or annual reports, no United States proxy statement, and no Section 16 insider filings. Canadian filings replace them.
Form 8-K, July 2026 ↗The company announced at closing that the combined company would be ineligible for the United States index family.
Company announcement, July 17, 2026 ↗Two customers accounted for 99% of the main mine's revenue in the last full year.
Form 10-K FY2025 ↗The annual report filed in March 2026 does not mention the January access interruption or the February restart of the second mine in its subsequent-events note. Both were disclosed elsewhere.
Form 10-K FY2025 ↗In June 2026 the company disclosed that multiple lawsuits had been threatened challenging the completeness of the merger proxy, and filed supplemental disclosures while denying the allegations.
Supplemental proxy disclosures, June 2026 ↗A tribal petition asks federal agencies to evaluate whether they, rather than the State of Michigan, should have authority over certain permitted activities. A related study remains under administrative review.
Form 10-K FY2025 ↗The company reported two contractor fatalities at the same open pit within about ten weeks in 2024, and voluntarily suspended operations there after each.
Company news releases, March and May 2024 ↗A Mexican judgment of about US$48.3 million stands against a subsidiary of the issuer. No provision for it appears in the parent's financial statements. A treaty arbitration over the same dispute has been fully pleaded since November 2025.
Annual Information Form; counterparty's Form 10-K ↗Draft build — not for publication. This page is not cleared to run: the compensation disclosure required of paid securities promotion is incomplete. Missing: the amount of compensation and who received it.
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Statements about future production, permitting, financing, exploration results, costs or operating plans are forward-looking. They are not facts. They rest on assumptions that may prove wrong, and actual outcomes may differ materially. The issuer's own filings set out the risk factors that apply, and those filings — not this page — are the authoritative record.
Securities of small-capitalization mining companies are volatile and illiquid. Metal prices, grade, permitting, currency and country risk can each impair results independently. You can lose your entire investment. Past performance of any metal, sector, index or security does not indicate future results.
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Company figures on this page are taken from the issuer's public filings and news releases, each cited at the point of use, and are not updated in real time. Verify every figure against the primary source before acting on it.
Figures on this page are as of August 25, 2026. This page carries no live quote and no price target. For a current price use your broker or the exchange, and note the security trades in more than one currency on more than one exchange.
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