Xtra-Gold Acquires Third Drill Rig To Expedite Kibi Gold Project

April 29, 2022 2:58 PM | 1 min read | Make a Comment

Xtra Gold Resources Corp XTG XTGRF has acquired a third drill rig to accelerate its exploration efforts at Kibi Gold Project.
The drill rig consists of a CS1000/P4 crawler-mounted diamond drill rig designed explicitly for Xtra-Gold.
Xtra-Gold operates its fleet of drill rigs, significantly reducing drilling costs versus contracting rigs from third parties.
Xtra Gold also announced first-quarter financials. The total assets increased to $12.02 million from $10.23 thousand in 1Q21, comprised mainly of cash, liquid securities, and gold inventory. The company has zero debt, and pre-tax income for the quarter was ~$1.94 million.
Price Action: XTG shares are trading lower by 1.09% at C$0.91 on TSX on the last check Friday.

Posted In: Earnings News Penny Stocks Briefs Canada

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.