08:23 AM EDT, 03/21/2024 (MT Newswires) -- Signal Gold Inc. ( SGNLF ) said Thursday that it has initiated a process with BMO Capital Markets to evaluate potential strategic alternatives to advance the Goldboro project.

The company said the options could include a joint venture transaction, a merger or a sale of the company, the project, or all the assets of the company.

Signal Gold ( SGNLF ) said it has not made any decisions related to any strategic alternatives at this time and there can be no assurance that the process would lead to any transaction.

The company noted that it secured an environmental assessment approval for Goldboro in August 2022, while aiming to

to obtain all remaining key project permits within the next 12 months.

Signal Gold ( SGNLF ) fell 5.6% to near 52-week lows yesterday.