- 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.
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