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Signal Gold Inc ANXGD


Primary Symbol: T.SGNL

Signal Gold Inc. is a Canada-based gold development company. The Company is engaged in advancing the wholly owned Goldboro Project in the Canadian mining jurisdiction of Nova Scotia. The Goldboro Project is an advanced exploration and gold development project located approximately 175 kilometers (km) northeast of the city of Halifax, 60 km southeast of the town of Antigonish, and 1.6 km north of the village of Goldboro, on the eastern shore of Isaac’s Harbour, in Guysborough County, Nova Scotia, Canada. The Company has consolidated approximately 28,525 hectares (285 km2) of prospective exploration land in the Goldboro Gold District.


TSX:SGNL - Post by User

Comment by GrumpyInvestoron Oct 26, 2022 10:34am
207 Views
Post# 35049541

RE:Pre-market level 2

RE:Pre-market level 2

DoumDiDoum wrote: OK, focus is on the BEAST now... so what's the next step please?  Tickling it a bit by drilling west?  Come on, bring it on guys, drill baby drill!

I'm pretty sure the next step will be a financing because I suspect we must be very low on cash. Don't be fooled by the 12M$ cash in the bank, as this is NOT working capital. 

I suspect that yesterday's press release was not issued simply because management wanted to be transparent, but because that kind of information needs to be out before  you can do a financing. There will probably be a portion of the next financing in flow through shares to go towards drilling, but we also need money to pay for the winding down of NFLD operations, for ongoing Goldboro permitting work and for administrative expenses. I don't expect massive drilling for now, as that would necessarily come with massive dilution at our current share price.

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