Signal Gold Reports Second Quarter 2024 Results

Signal Gold Inc. announced its financial results for Q2 2024, ending June 30. The company's efforts focus on the Goldboro Project in Canada. Investments of $644,292 were made in Q2 towards permits and exploration, including a 5,179-meter drilling program revealing high-grade gold zones. A 20-year mineral lease for the Goldboro Project was granted by Nova Scotia's government.

However, the company faced financial challenges with a net loss of $23,016,546, up from $4,097,669 the previous year, primarily due to a $25,000,000 impairment charge on assets and increased finance expenses. Signal Gold ended Q2 with $6,626,925 in cash and a working capital deficit of $20,340,231.

Exploration expanded to the Stewart and Fowler targets. Despite a complex financial landscape, the company remains focused on advancing the Goldboro Project and exploring strategic alternatives for funding and growth.