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Krypton Street Just Put (NYSE American: GORO; TSXV: GORO) On This Morning’s Watchlist— Thursday, September 3, 2026.
Don’t Miss Our Next Update—Get Real-Time Alerts Sent Directly To Your Phone. Up To 10X Faster Than Email. Pull Up (GORO) While It’s Still Early… September 3, 2026 Dear Reader, Less than 90 minutes remain before the market opens, and Goldgroup Mining Inc. (NYSE American: GORO; TSXV: GORO) is still sitting near the top of the radar. The company now brings together current production, existing mine infrastructure, exploration potential, and a major U.S. development project. Goldgroup Mining Inc. (NYSE American: GORO; TSXV: GORO) just went through one of the more significant transformations we've come across in the precious metals space — and we wanted to make sure it was on your radar this morning. Following its July 2026 merger with Gold Resource Corporation, (GORO) now controls a substantially expanded portfolio — two producing mines, a formerly producing gold operation being evaluated for a potential restart, and a major North American development project. This is no longer simply an exploration story. It's no longer a company dependent on a single mine or a single future discovery. And that shift is exactly why (GORO) is topping our watchlist this morning — Thursday, September 3, 2026. 
Goldgroup Mining Inc. (NYSE American: GORO; TSXV: GORO) now combines current production, exploration upside, potential production growth, and longer-term development optionality across four principal assets. With the outlook for gold increasingly constructive, the timing of this transformation could turn out to be worth paying attention to. The next chapter is about execution… Operating its producing assets. Advancing exploration. Evaluating the San Francisco restart. And continuing to move Back Forty through its development path. One Merger, Four Cornerstones
The July 2026 combination with Gold Resource significantly expanded Goldgroup's asset base. Today, the Company's portfolio includes four cornerstones… Don David — a producing underground gold-silver-rich polymetallic operation in Oaxaca, Mexico. Cerro Prieto — a producing open-pit heap-leach gold mine in Sonora, Mexico. San Francisco — a formerly producing open-pit gold operation in Sonora being evaluated for a potential restart. Back Forty — a large-scale gold-rich VMS development project in Michigan. The result is a portfolio that spans production, potential production, and development. For anyone looking at (GORO) today, that broader platform represents a fundamentally different company from the one that existed before the merger. The Company's longer-term strategic vision is to build Goldgroup Mining Inc. (NYSE American: GORO; TSXV: GORO) into an intermediate gold producer — and the pieces are now in place to pursue exactly that. Walking Through Each Asset
Don David — The Flagship That's Already Producing Don David is an underground gold-silver polymetallic operation in Oaxaca producing gold, silver, copper, lead, and zinc. The Arista complex includes multiple mineralized systems — including Arista, Three Sisters, and Switchback — giving (GORO) additional exploration potential across its concessions. The Company is also pursuing operating improvements, including mining methods that have reduced dilution from approximately 40% to 17% in areas where cut-and-fill mining has been implemented. Here's why that matters to us… Don David provides current production alongside real room for exploration, optimization, and potentially improved mine performance. That combination — production today plus exploration potential for tomorrow — is exactly what we look for in a cornerstone asset. Cerro Prieto — A Second Source of Ounces Cerro Prieto is a 100%-owned open-pit heap-leach gold mine in Sonora that has been in production since 2013. GORO is evaluating ways to expand resources and potentially extend mine life, including the reprocessing and releaching of existing leach pads. Exploration targets include a mineralized shear zone extending more than two kilometres, as well as Nueva Esperanza and Reyna. We want to be straightforward here — these are exploration-stage targets, not established additional reserves or production. But the fact that they exist alongside a producing asset means Cerro Prieto could have more to give. San Francisco — The Restart That Could Change Everything 
This is the part of the story we think our community should spend the most time with… San Francisco could become one of GORO's most important future growth drivers. The formerly producing open-pit gold operation in Sonora has substantial existing infrastructure — crushing and processing facilities, leach pads, power, and haul roads — potentially providing a foundation for evaluating a restart. The April 30, 2026 Mineral Resource Estimate reports approximately 1.23M ounces of Measured and Indicated Mineral Resources, plus 178,400 ounces of Inferred Mineral Resources. GORO is undertaking drilling and mine-planning work as it evaluates a potential restart. And the existing infrastructure means this wouldn't be a ground-up build… That distinction matters. When you already have the bones of a mine in place, the path to production looks fundamentally different from starting from scratch — especially with gold where it is right now. Back Forty — The Long-Term Wildcard in Michigan Located in Michigan's Upper Peninsula, Back Forty is a 100%-owned VMS development project containing gold, silver, copper, and zinc across approximately 1,304 hectares. The project contains approximately 14.5M tonnes of total Mineral Resources across Indicated and Inferred categories. Its September 30, 2023 PEA estimated an after-tax NPV of approximately US$214M and an after-tax IRR of 25.7% at a US$1,800/oz gold figure. But here's where it gets interesting… At US$2,700 gold, that NPV jumps to approximately US$433M and the IRR climbs to 44.7%. Gold is currently well above $2,700. The PEA is preliminary and the project still needs additional technical work, permitting, financing, and development decisions — but the economics at current metal levels suggest this asset deserves serious attention as a longer-term growth contributor. For (GORO), Back Forty adds a significant U.S.-based development angle and further commodity and geographic diversification. Each of these four assets carries its own requirements and timeline… But together, they give Goldgroup Mining Inc. (NYSE American: GORO) multiple potential pathways to expand its production profile. Gold Is Doing the Heavy Lifting Right Now
Gold has returned to center stage as analysts have published increasingly constructive forecasts for the metal. Some analysts have projected gold could approach $6,000 per ounce by the end of 2026. There's no assurance gold will reach that level — or that the run continues from here. But if gold remains structurally elevated, the environment could be meaningfully supportive for precious-metals producers and developers. For Goldgroup, the relevance is particularly notable because the Company already has two producing mines generating ounces into this environment — while simultaneously evaluating additional production pathways and advancing a major development project. That's a different conversation entirely from a company that's purely pre-revenue. No Material Debt — and That Matters Here
Goldgroup does not currently carry a material amount of debt. That kind of balance-sheet flexibility can provide real room to maneuver as the Company advances exploration, mine-planning activities, and its broader portfolio. For a mining company pursuing multiple fronts simultaneously, that matters more than most people realize. What Happened With the Russell 2000 — and Why It's Worth Understanding There's something that happened recently with (GORO) that we think is worth walking through together… Following the Company's removal from the Russell 2000 index, the shares experienced significant downward pressure in a compressed timeframe. According to precious-metals commentator Brien Lundin, the deletion may have contributed to unusual market activity, as funds and other participants that track or benchmark against the index adjusted their holdings. Index deletions can result in mechanical selling by participants that mirror an index, regardless of changes in a company's underlying business. The timing is worth noting… This activity occurred after Goldgroup had completed its transformational merger — expanding its portfolio to four 100%-owned principal assets, including two producing mines, a formerly producing operation being evaluated for a potential restart, and a major development project. That creates an important question: has share performance fully reflected the transformation of the underlying company? Nobody has a definitive answer to that yet… But we think it may be the right question to be asking. Analyst Coverage Just Started — and Sprott Is Still Adding Research Capital initiated coverage of Goldgroup Mining Inc. (NYSE American: GORO) on August 12, 2026, following the merger. That kind of institutional attention tends to bring more eyes to a name — and for a newly transformed company, visibility matters. Meanwhile, Eric Sprott's involvement with GORO predates the 2026 merger. Based on public filings, Sprott allocated approximately C$6.75M into Goldgroup's March 2025 private placement and added another C$1.5M in a subsequent placement in August 2025. In connection with the merger, he received 2.55M Goldgroup shares for his Gold Resource holdings. He then picked up an additional 325,000 shares in the open market on August 14, 2026 — for approximately C$1.27M. That continued involvement makes Sprott a notable shareholder as Goldgroup enters its next phase… And when someone with his track record keeps adding to a position, it tends to get noticed. 40 Years of Boots-on-the-Ground Experience Goldgroup is not entering Mexico and learning the mining business from scratch. The Company's technical and operating team brings experience in mine development, operations, exploration, and corporate finance throughout Mexico and the Americas. That experience matters when operating mines and advancing projects in established mining districts, where successful execution involves far more than geology. Permitting, infrastructure, contractors, workforce, communities, and local operating realities all factor in. One notable member of the team is Armando Alexandri, GORO's COO, who brings more than 40 years of mining experience — much of it in Mexico. 5 Reasons Why We Have (GORO) On Our Radar This Morning — Thursday, September 3, 2026…
1. Four-Asset Platform: Following its July 2026 merger, GORO now controls two producing mines, a formerly producing operation under restart evaluation, and a major U.S. development project. 2. Current Production: With Don David and Cerro Prieto already producing, GORO enters its next phase with active operations alongside additional exploration and development work. 3. Restart Potential: San Francisco gives GORO a possible additional production path supported by existing infrastructure and approximately 1.23M ounces of Measured and Indicated Mineral Resources. 4. Back Forty: The Michigan-based project gives GORO a 100%-owned development asset with approximately 14.5M tonnes of reported Mineral Resources and exposure to gold, silver, copper, and zinc. 5. Sprott Activity: Eric Sprott remained involved with GORO following the merger, receiving 2.55M shares through the combination and later purchasing another 325,000 shares in the open market. Pull Up (GORO) While It’s Still Early…
Goldgroup's transformation during 2026 has created a substantially different company. Two producing assets today. A potential restart ahead. A major North American development project. Exploration across the portfolio. And exposure to gold, silver, and base metals. That is a much broader story than a traditional junior exploration company… Goldgroup Mining Inc. (NYSE American: GORO; TSXV: GORO) now has current production, operating infrastructure, mining experience, exploration upside, and development optionality. The Company also carries no material debt, providing financial flexibility as it advances its portfolio. And with gold back in the spotlight — and some analysts projecting per-ounce figures as high as $6,000 — the backdrop for precious-metals companies remains one worth watching closely. For anyone in our community focused on precious metals beyond the next quarter, (GORO) offers a broader platform with multiple potential drivers that could shape the Company's next phase of growth. The company is bigger. The portfolio is broader. Production is already underway. And the next chapter is about execution. Pull up (INBS) while it’s still early. Sincerely, Alex Ramsay Co-Founder / Managing Editor Krypton Street Newsletter |
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