One gold restart. Five windows worth watching.
Goldgroup Mining Inc. (NYSE American: GORO) is working to bring its San Francisco mine in Sonora back online — and the company has put actual target dates on the record. Buy Stocks laid them out on a single calendar, each one next to the thing that could push it back.
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Why should GORO be on your calendar at all?
Because for once the story is datable. Goldgroup Mining Inc. (NYSE American: GORO) is a small gold producer that already earns money from two mines in Mexico and is working to bring a third asset back online on estimated dates it has put on the public record. You are not being asked to take a narrative on faith — you are being handed a set of milestones you can check against filings. Here is the whole thing in one screen.
- 2 minesProducing today in Mexico — Don David in Oaxaca and Cerro Prieto in Sonora
- US$43.9MQ1 2026 revenue at Gold Resource Corp., the pre-merger operating subsidiary, with US$4.7M net income and US$31.0M cash (Form 10-Q). Goldgroup itself, for the quarter before the merger closed, reported Q2-2026 gold sales of US$21.0 million, a net loss of US$6.1 million and cash of US$15.7 million at June 30, 2026; those statements do not include Gold Resource.
- 1.23 MozMeasured & indicated gold at the San Francisco mine whose restart it is evaluating (NI 43-101, effective Apr 30, 2026)
- 652 ktReserves and resources at Don David — 652 kt of proven and probable mineral reserves at 1.19 g/t Au and 195.7 g/t Ag, plus measured and indicated mineral resources, exclusive of reserves, of 63 kt at 1.65 g/t Au and 245.7 g/t Ag (Arista) and 168 kt at 0.54 g/t Au and 286.1 g/t Ag (Alta Gracia), as of December 31, 2025 (Form 10-K, FY2025). Although Cero Prieto has not published new resources since depleting its most recently published resource, it continues to mine newly defines zones outlined with drilling over the past year. Mineral resources are not mineral reserves.
- 8.02%Held by Eric Sprott, as disclosed as of September 1, 2026 — a widely followed resource investor
- Jul 17 ’26Merger closed; the shares have traded on NYSE American since Jul 20, alongside the TSXV and Frankfurt
- 5 windowsDated milestones between now and early 2027 — each mapped below, next to what could push it back
Four assets sit behind the calendar
The windows below do not float in the abstract — each one belongs to a real property. Two are producing now, one is a development-stage project being evaluated for restart, and one is a longer-dated development option. One hard number apiece. Each resource is quoted on its own and none are added together; mineral resources are not mineral reserves and do not have demonstrated economic viability.
Don David (Arista)
The underground mine that anchors revenue today — the group’s cash-generating core. Over seven months in 2026 the company drilled 25,726 m in 123 holes there, its bet on increasing resources and potentially extending mine life. The company’s latest figures are in its filings: More info ↗.
Sources: news release, Aug 17, 2026 · Form 10-K FY2025Cerro Prieto
Although Cero Prieto has not published new resources since depleting its most recently published resource, it continues to mine newly defines zones outlined with drilling over the past year.
An open-pit, heap-leach operation in northern Mexico running at 4,200–4,500 t/d. It gives the group a second producing centre rather than a single point of output, in steady production since 2013.
Source: Form 6-K, Aug 20, 2026San Francisco
The asset the whole calendar turns on: an idle mine with an independently reported resource, a signed commissioning contract and a declared restart window. The El Llano target beside it is conceptual, not a mineral resource.
Source: technical report by MiconBack Forty
A 100%-owned, gold-rich volcanogenic massive sulphide (VMS) project in Michigan’s Upper Peninsula. It is optionality, not in production: a feasibility study has been under way since May 2026, with no completion date published. Back Forty hosts indicated mineral resources of 9,360 kt at 2.41 g/t Au, 28.1 g/t Ag, 0.36% Cu and 3.74% Zn (open pit) and 5,137 kt at 1.86 g/t Au, 24.1 g/t Ag, 0.41% Cu and 2.65% Zn (underground), and inferred mineral resources of 566 kt at 2.70 g/t Au, 48.8 g/t Ag, 0.35% Cu and 1.31% Zn (open pit) and 627 kt at 2.00 g/t Au, 26.1 g/t Ag, 0.37% Cu and 2.89% Zn (underground), as of December 31, 2025 (Form 10-K, FY2025). No measured resources or mineral reserves have been established; mineral resources are not mineral reserves. More detail is in the company’s filings: More info ↗.
Sources: Form 10-Q, Q1 2026 · Form 10-K FY2025Why a small producer is a lever on the gold price
Gold and silver have been changing hands at unusually high levels, and it showed up directly in the numbers: those are the prices Gold Resource Corp., the pre-merger operating subsidiary, actually realized in the first quarter of 2026, straight from its Form 10-Q — a fact on the record, not a forecast. A small producer is geared to that number. When the metal price moves, a small operator’s margin tends to move more than a major’s, because a larger share of every ounce is margin rather than fixed cost.
The lever works in both directions: a weaker metal price would compress results just as quickly as a strong one lifted them. A profitable quarter reflected both a strong price environment and the operating leverage itself — the same leverage that makes a small producer move more than a major.
Source: Gold Resource Corp. Form 10-Q, Q1 2026 (pre-merger operating subsidiary)Why could the next two quarters matter for GORO?
Because the story stops being abstract. Between now and early 2027 there is a drill readout, a plant commissioning, a declared restart window and a first look at the combined company — each of them checkable against a filing. Here is every window, and what could push each one back.
The San Francisco drill program reads out
A 26,053-meter drill program at the San Francisco mine is scheduled to be completed in the fourth quarter of 2026. It is the data set the restart plan leans on — on top of a resource that already stands at 1.23 million measured-and-indicated gold ounces.
Sources: company news release, Aug 14, 2026 · NI 43-101 technical report by Micon, effective Apr 30, 2026The plant gets commissioned
The company has signed a contract to refurbish the San Francisco processing plant, alongside a 26,053-meter drill program that runs to Q4 2026; the restart itself is still being evaluated. Refurbishment is the physical, verifiable step between an plant that has sat idle for over 4 years and brings the plant to ready for re-establishing production operations — if a restart is approved and re-commissioning starts, the plan stops being a slide and becomes a operating mine.
Source: company news release, Aug 14, 2026The declared restart window
The company has placed the San Francisco restart between late 2026 and end of the first quarter of 2027. From the company San Francisco, if restarted, is put at 40,000–60,000 oz of gold production a year — labelled by the company as based on historic data, for a project with no demonstrated reserves and conceptual production rates. At group level, combining production from all producing assets, it targets roughly 60,000 AuEq oz in 2026 and with the addition of potential production from San Francisco, more than 100,000 AuEq by end-2027. For scale: FY2025 sales at Gold Resource Corp., the pre-merger Don David mine operating subsidiary, were 23,125 AuEq oz. The company states its San Francisco figures are too early to be considered official guidance.
Source: company news release, Aug 14, 2026Drilling keeps landing at Don David
At Don David in Oaxaca the company drilled 25,726 meters in 123 holes in seven months, with standout intercepts of 1.92 m estimated true width (“ETW”) at 13.49 g/t gold plus 931 g/t silver, and 2.55 m ETW at 1,695 g/t silver. Alta Gracia zone resumed mining on Feb 20, 2026. From the company more than 50,000 meters of exploratory drilling are committed this year across all properties.
Sources: company news release, Aug 17, 2026 · Form 6-K, Aug 20, 2026The first consolidated numbers
The merger closed on Jul 17, 2026 and the shares have traded on NYSE American since Jul 20, alongside the TSXV and Frankfurt. The next quarterly report will be the first to show the merged Company’s combined operating results —Gold Resource Corp., the pre-merger operating subsidiary, which earned US$4.7M net income on US$43.9M revenue in Q1 2026, with US$31.0M cash and working capital of +US$40.2M.
Sources: Form 8-K, merger closing · Form 10-Q, Q1 2026Why does GORO draw interest right now?
Set the calendar aside for a moment and the appeal is simple to state: a producing base that already makes money, a resource to grow, and a fresh listing that puts the whole thing in front of United States investors.
- 1
It already produces, and it printed a profit
Two mines running in Mexico and a Q1 2026 with US$4.7M net income on US$43.9M revenue at Gold Resource Corp., the pre-merger operating subsidiary (Form 10-Q). This is not a pre-revenue story.
- 2
There is a real resource to restart into
1.23 million measured-and-indicated gold ounces at San Francisco, independently reported under NI 43-101 — the base the restart plan leans on.
- 3
The drill bit is turning, hard
25,726 m in 123 holes at Don David in seven months, and From the company more than 50,000 m committed across properties this year. Intercepts are not resources — but the activity is real.
- 4
A marquee holder and a new platform
Eric Sprott has disclosed a stake of 8.02% as of September 1, 2026, and the merger that closed on Jul 17, 2026 putting the shares on NYSE American from Jul 20, alongside the TSXV and Frankfurt.
From the company San Francisco, if restarted, is put at 40,000–60,000 oz of gold a year — a figure the company labels based on historic data, for a project with no demonstrated reserves. At group level it targets roughly 60,000 AuEq oz in 2026 and more than 100,000 AuEq by the end of 2027, with a longer-term goal of 250,000 AuEq. For scale, FY2025 sales at Gold Resource Corp., the pre-merger operating subsidiary, were 23,125 AuEq oz — so these are step-change ambitions, not an extrapolation of today. No formal guidance has been published.
Source: company news release, Aug 14, 2026The producing base is real, the resource is independently reported, and every date on the calendar is checkable against a filing. The dates above are the company’s own milestones, drawn straight from its public record. The same filings carry the important information set out in full below; read it with the same attention you give the calendar.
The calendar moves whether anyone watches it or not.
The company’s own filings will be the first to report the drill results and the plant’s re-commissioning. We update this page each time one of these dates is met or changes, with a link to the company’s filing every time.
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Why could a restart with dates be more interesting than a story without them?
Most small-cap gold stories ask you to trust a narrative. This one hands you a checklist. A drill program with a stated completion quarter, a signed re-commissioning contract, a restart window with two stated ends — each item either happens on schedule or it visibly does not.
And the entity doing the restarting is not starting from zero: operating subsidiaries already runs two producing mines in Mexico and Don David mine reported a profitable first quarter (Form 10-Q, linked below). Whether that profit says more about the operation or about an exceptional metal-price environment is a fair question — the honest answer is: both.
What belongs on a watchlist — and what does not
A watchlist is not a portfolio. Putting GORO on the radar costs nothing and commits you to nothing; it means checking, each quarter, whether the company did what it said in the window it named.
The asset base is real, the dates are on the record, and every one of them is checkable against a filing. That is precisely what a watchlist is for. The important information below is part of the same record — worth the same attention as the calendar.
The restart program itself: 26,053 meters of drilling, the signed re-commissioning contract, and the company’s stated restart wind ow.
The resource behind it: 1.23 million ounces of measured-and-indicated gold at San Francisco, independently prepared under NI 43-101.
The drilling record at Don David: 25,726 meters completed in 123 holes over seven months, intercepts included — and the reminder that intercepts are not resources.
The quarter Gold Resource Corp., the pre-merger operating subsidiary, printed for Q1 2026: US$43.9M revenue, US$4.7M net income, US$31.0M cash, working capital +US$40.2M — and the realized prices behind it. Goldgroup itself, for the quarter before the merger closed, reported Q2-2026 gold sales of US$21.0 million, a net loss of US$6.1 million and cash of US$15.7 million at June 30, 2026; those statements do not include Gold Resource.
The platform: merger closed Jul 17, 2026; NYSE American listing since Jul 20; the full-year record and important information of the operating subsidiary.
The current commitments: more than 50,000 meters of drilling committed across properties this year, per the company, plus an an accelerated marketing initiative to broadly broadcast the rapidly developing production story across North America, Europe and Asia. .