Xtra-Gold Resources Corp.’s unaudited financials for the second quarter, as of the end of June 30, 2024, reported total assets of US$13,511,022 comprised mainly of cash, liquid securities, and gold inventory (liquid assets).

The miner said it has zero debt with a total income for the quarter of US$1,434,566.

It reported a net income (after tax) of US$664,764.

Mr James Longshore, CEO/Co-Founder said: “Our Company had another very successful quarter, covering all our exploration drilling and operating costs. Excess cash from our alluvial gold project continues to strengthen our balance sheet, with over US$12 million in liquid assets (cash, securities and gold bullion). Our exploration team is currently preparing to drill several high-priority gold targets, in close proximity to our mineral resource “footprint”.

He added: “If successful, this will expedite our goal of becoming a multi-million-ounce gold discovery.”

The gold exploration company has a substantial land position in the Kibi Gold Belt – which exhibits many similar geological features to Ghana’s main gold belt, the Ashanti Belt, 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 throughout the Kibi area.

Xtra-Gold holds 5 mining leases totalling approximately 226 sq km (22,600 ha) at the northern extremity of the Kibi Gold Belt.

The Company’s exploration efforts to date have focused on the Kibi Gold Project located on the Apapam Concession (33.65 sq km).