Signal Gold Announces Financial Results for Q4 and Full Year 2023, Sets Sights on 2024 Goals for Goldboro Project

Signal Gold Inc. has unveiled its financial and operational outcomes for the fourth quarter and the entire year of 2023, demonstrating a steadfast dedication to propelling the Goldboro Project towards becoming Canada’s next gold project ready for construction. The company reported a total investment of $19,785,065 in the Goldboro Project for 2023, emphasizing exploration drilling and the expansion of exploration land. Despite facing a net comprehensive loss of $15,880,379 or $0.07 per share, the efforts mark significant advancements in the project’s development.

2023 has been pivotal for Signal Gold, with key permit submissions and the completion of its largest exploration drill program, discovering gold mineralization extending the total strike length to 3.4 kilometers. The year also noted a transaction, selling the Point Rousse Project for $3 million in cash among other considerations. As the year concluded, Signal Gold’s financial standing showed a cash balance of $9,851,672 and working capital of $8,293,302, positioning it to pursue its 2024 goals robustly.

Looking forward, Signal Gold aims to enhance value through further exploration initiatives within the expansive Goldboro Gold District, uncover additional mineable resources, and secure all critical project permits within the next 12 months. This focus underscores the company’s strategy to mitigate financial losses by emphasizing growth and exploration in pursuit of developing a major gold project in Canada.