Business

Q1 2021: Xtra-Gold’s assets soar to US$11,866,211

Xtra-Gold Resources Corporation has said its total assets increased from US$9,340,942 (December 31, 2020) to US$11,866,211 (March 31, 2021), comprised mainly of cash, liquid securities, and gold inventory (“cash”).

It also recorded zero debt with a net income of US$1,920,672 for the quarter.

Mr James Longshore, founder and CEO of Xtra-Gold Resources Corporation said “the Company continues to demonstrate its ability to self-finance our drilling/work programs through the Community Mining Project”.

“With this quarter net income of approximately $2 million, we have enough cash to internally finance our 2021 and 2022 work programmes”, he noted.

Mr Longhsore added: “We are aggressively expanding our resource, with the goal of getting the Kibi Gold Project recognised as a significant gold discovery.”

About Xtra-Gold Resources Corp.

Xtra-Gold is a gold exploration company with a substantial land position in the Kibi Gold Belt.

The Kibi Gold Belt, which exhibits many similar geological features to Ghana’s main gold belt (the Ashanti Belt with over 150 million oz’s of gold discovered), has been the subject of very limited modern exploration activity targeting lode gold deposits as virtually all past gold mining activity and exploration efforts focused on the extensive alluvial gold occurrences in many river valleys.

Source: ClassFMonline.com

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