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Star Gold Corp (SRGZ0.00%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing no revenue and a net loss of $49,461 for the three months ended October 31, 2024, compared to a net loss of $61,324 in the same period the previous year.
Total operating expenses for the quarter were $35,548, with legal and professional fees amounting to $16,632 and management and administrative expenses totaling $18,916.
Interest expense for the quarter was $403, with an additional $13,510 in interest expense related to related parties.
For the six months ended October 31, 2024, the company reported a net loss of $148,898, compared to $150,278 for the same period in 2023.
Star Gold Corp's balance sheet as of October 31, 2024, shows total assets of $699,251 and a working capital deficit of $301,334.
The company has accumulated a deficit of $13,006,437 as of October 31, 2024, and stockholders' equity stands at a deficit of $206,267.
The filing details ongoing exploration activities at the Longstreet Property in Nevada, with plans to commence hydrology drilling and geochemical analysis as part of preparations for an Environmental Impact Statement.
Star Gold Corp acknowledges the need for additional financing to continue operations and plans to seek funding through equity sales, joint ventures, or other financial arrangements.
The company highlights risks related to its exploration stage, regulatory compliance, and the need for additional capital, as well as competition within the mineral exploration industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Star Gold Corp quarterly 10-Q report dated January 30, 2025. To report an error, please email earnings@qz.com.