Gran Colombia Gold net income increased by 30% in 2020 as gold price rose

Gran Colombia Gold published yesterday its full year annual report. Between 2019 and 2020, gold production decreased from 239,991 to 220,194 ounces. However, its operating revenue increased by 20% to $390.9 million. This result is partially explained by an increase in the market gold price. By the end of the fourth quarter of 2020, the gold price reached an average price of 1,875 per ounce, higher than in 2019 ($1,480). In terms of its operating actions, Gold Colombia added an ESG sub-committee of the Board in early 2020 to support its ongoing commitment to ESG initiatives.

Source: Yahoo Finance