Welcome to our dedicated page for SIGNAL GOLD news (Ticker: SGNLF), a resource for investors and traders seeking the latest updates and insights on SIGNAL GOLD stock.
Signal Gold Inc (SGNLF) is a Canadian mineral exploration company advancing its flagship Goldboro Gold Project in Nova Scotia through systematic drilling programs and strategic permitting. This page aggregates all official announcements, operational updates, and regulatory filings related to the company's gold exploration activities.
Investors and industry observers will find timely updates on drilling results, environmental approvals, and resource expansion efforts at the Goldboro Project. The curated news collection includes earnings reports, technical disclosures, and corporate developments essential for understanding the company's progress in developing this historic gold district.
All content undergoes verification against primary sources including SEDAR filings and company disclosures. Bookmark this page for streamlined access to Signal Gold's latest exploration achievements, regulatory milestones, and financial updates presented in clear, investor-focused formats.
Signal Gold Inc. (TSX:SGNL, OTCQX:SGNLF) announced its Q1 2023 production results, reporting 3,051 ounces of gold sold, generating $7.8 million in metals revenue. The company’s gold production totaled 1,384 ounces with an average realized price of $2,562 per ounce. Mining operations at the Argyle Mine concluded, and the Point Rousse site is transitioning to care and maintenance.
As of March 31, 2023, Signal Gold holds a cash balance of $16.2 million, with ongoing reclamation activities underway. The company is also conducting a cleanup of the Pine Cove mill to recover more gold, anticipating additional funds soon. The first quarter financial statements are expected to be filed by May 4, 2023.
Signal Gold Inc. announced further exploration drilling at the Goldboro Project in Nova Scotia, targeting the extension of the Goldboro Deposit. The new diamond drill program aims to explore the structure to the west, following initial successful drilling results. Highlights include:
- 20.59 g/t gold over 3.0 metres in hole BR-23-383.
- 9.46 g/t gold over 2.0 metres in hole BR-23-381.
- 7.29 g/t gold over 2.5 metres in hole BR-23-382.
The company has a total combined Mineral Resource of 2.58 million ounces and is advancing with further geophysical surveys and drilling.
Signal Gold reported financial results for Q4 2022, highlighting a 48% increase in gold sales to 18,078 ounces, generating revenues of $41.8 million at an average realized price of $2,305 per ounce. However, production of 17,948 ounces fell short of the revised guidance of 20,000 to 21,000 ounces. Operating cash costs per ounce sold were $1,809, exceeding the $1,500 target. The company recorded a net loss of $11.7 million for the year, worsening from $7.1 million in 2021. A new $21 million credit facility with Nebari Resources aims to support ongoing development, particularly at the Goldboro Project, which is positioned for growth.
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