Goldboro Project Progress Report

After submitting all crucial permit applications, Signal Gold is steadfast in its pursuit of acquiring these permits within the next year.

The project boasts a substantial measured and indicated mineral resource at Goldboro, standing at 1.42 million oz for the open pit and 1.16 million oz underground.

A recent feasibility study unveiled a promising forecast for the project, projecting an 11-year life of mine with an average gold production of 100,000 oz per year and a 2.26 g/t average diluted gold grade.

The project’s after-tax net present value, discounted at 5%, is estimated at C$328 million with an internal rate of return of 25.5% and a projected payback period of 2.9 years. Initial capital expenditure is pegged at C$271 million with a C$63.1 million sustaining capital over the mine’s lifespan.

Pursuit of Strategic Alchemy

Signal Gold, in a bold maneuver, acknowledged that its “robust, high-grade project” at Goldboro is currently undervalued in the market’s eye – emphasizing the need for capital efficiency, lower shareholder dilution, and maximal value.

Focusing on the bigger picture, the company expressed openness to partnering with a larger, financially robust entity that could propel Goldboro’s development timeline forward with more momentum.

Noteworthy is the market reaction to this strategic evaluation, with Signal Gold’s shares skyrocketing by 11.7% to C$0.095 by mid-morning in Toronto. Over the past year, the stock has fluctuated between C$0.08 and C$0.35, showcasing the market’s wavering stance on the company’s potential.

With a market capitalization of C$23.9 million ($17.7 million), Signal Gold stands at a crucial juncture where its true value could potentially be unlocked with the right strategic maneuver.