Xali Gold Corp (TSX-V:XGC) has been issued a cease trade order (FFCTO) by the British Columbia Securities Commission due to a delay in filing its audited annual financial statements and related documents for the financial year ended March 31, 2024. The FFCTO prohibits any trading of the company’s securities in Canada until the filings are completed. However, Xali Gold expects to file the required documents within the next 3 or 4 days and resume trading.
Xali Gold, a mining company with gold and silver projects in Peru and Mexico, is best known for its flagship project, El Oro. This district-scale gold project in Mexico encompasses a high-grade gold-silver epithermal vein system. With 20 veins of past production and a total of 57 veins, El Oro has a significant production history, with approximately 6.4 million ounces of gold and 74 million ounces of silver reported from just two veins.
The company believes that several veins in the El Oro district hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein. Xali Gold is committed to being a responsible community partner in its operations.
Joanne C. Freeze, P.Geo., President and CEO of Xali Gold, is the Qualified Person for the discussed projects as defined by National Instrument 43-101. She has reviewed and approved the contents of this release.
Xali Gold Corp is confident in its ability to rectify the filing delay and resume trading in the near future. The company remains focused on advancing its gold and silver projects and delivering value to its shareholders.