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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Business Summary: Xtra-Gold Resources Corp., an exploration-stage company, engages in the exploration of gold properties in the Republic of Ghana, West Africa. The company's mining portfolio includes several projects.
 
Address
  360 Bay Street, Suite 301
  Toronto , Ontario M5H 2V6
  Phone: 416-366-4227
  Website: http://www.xtragold.com
Auditor
  DAVIDSON & COMPANY LLP
Transfer Agent
  Allied Stock Transfer, Inc.
ShareHolders:  563
Founded:  1998
Domicile:  Nevada
 
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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Xtra-Gold Resources Corp., in the exploration stage as of Mar. 31, 2010, is a gold exploration company engaged in the exploration of gold properties in the Republic of Ghana, West Africa. The company's mining portfolio consists of 246.84 square kilometers comprised of 51.67 square kilometers for its Banso Project, 55.65 square kilometers for its Muoso Project, 33.65 square kilometers for its Apapam Project, 44.76 square kilometers for its Kwabeng Project, 40.51 square kilometers for its Pameng Project and 20.60 square kilometers for its Edum Banso Project, or 60,969 acres, pursuant to the leased and licensed areas set forth in the company's respective mining leases, prospecting licenses and/or option agreement. The company holds three mining leases in Ghana for its Kwabeng, Pameng and Apapam Projects. It holds a prospecting license on its Banso and Muoso Project in Ghana. The company also holds an option on the Edum Banso Project in Ghana. Xtra-Gold's strategic plan with respect to its gold projects includes the following elements: to focus efforts and dedicate financial resources toward the potential to drill out a resource and, perhaps ultimately, a reserve of the Kibi Gold Trend located on the company's Apapam Project; to define a resource and, perhaps ultimately, a reserve on the company's other exploration projects; to enter into negotiations with independent Ghanaian contract miners and operators to resume Xtra-Gold's recovery of gold operations at its Kwabeng Project with a view to these contractors conducting recovery of gold operations for fixed payments to the company; and to acquire further interests in gold mineralized projects that fall within the criteria of providing a geological basis for development of drilling initiatives that can enhance shareholder value by demonstrating the potential to define reserves. In October 2008, Xtra-Gold suspended operations at its Kwabeng Project while the company's management considered a more economic and efficient manner in which to extract and process the gold recovered from the mineralized material at this project. In mid-May 2010, Xtra-Gold reported that during the next 12 months it planned to enter into negotiations to contract out the recovery of gold operations at this project; advance the development of its Kibi Gold Trend located on the company's Apapam Project by carrying out the Phase III drill program; and acquire further interests in mineral projects by way of acquisition or joint venture participation.
History:  INCORPORATED in Nevada Sept. 1, 1998, as Silverwing Systems Corp.; name changed to Advertain On-Line Inc. Aug. 19, 1999, to RetinaPharma International, Inc. June 18, 2001, and to Xtra-Gold Resources Corp. Dec. 19, 2003. October 31, 2003, acquired 100% of the issued and outstanding Common stock of Xtra-Gold Resources, Inc. (incorporated in Florida Oct. 24, 2003) for 10,070,000 Common shares.
 
Subsidiaries:
Xtra Energy Corp.
Xtra Oil & Gas (Ghana) Limited
Xtra Oil & Gas Ltd.
Xtra-Gold Exploration Limited
Xtra-Gold Mining Limited
 
 
 
 
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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Management
OfficersPosition
 Richard W. GraystonChairman
 James  LongshorePresident, Chief Financial Officer & Chief Executive Officer
 Peter  MinukSecretary & Treasurer

Directors
 Richard W. Grayston
 James  Longshore
 Peter  Minuk
 Robert H. Montgomery
 Paul  Zyla
 
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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.001 par250,000,00033,400,586
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  03/29/2010, 563.
PRINCIPAL STOCKHOLDERS: March 29, 2010, James Longshore owned or controlled 8.0% of the Common, and Mark T. McGinnis 7.5%.
 
Transfer Agent:  Allied Stock Transfer, Inc.   Atlantic Highlands , NJ
 
OTC Bulletin Board( Primary): XTGR
 
ExchangeYearHighLow
OTC Bulletin Board20091.14000.3650
OTC Bulletin Board20082.00000.2500
 
DIVIDENDS: Common $0.001 par: No cash.
 
 
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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Annual Report
 
Income Statement
  20092008
Amortization6864
Exploration1,0805,141
General and administrative9571,035
Foreign exchange gain (loss)303(425)
Realized gains (losses) on sales of trading securities(173)3
Net unrealized gain (loss) on trading securities790(858)
Gain on recovery of gold114,141
Other income139197
Interest exp.349
Net income(1,038)(3,231)
Share earns. basic($0.03)($0.11)
Share earns. diluted($0.03)($0.11)
 
Balance Sheet
  20092008
Assets:
Cash & equiv.623272
Investments1,7811,470
Receivables and other4693
Deposit for equipment 152-
Tot. curr assets2,6021,835
Net property245312
Deferred financing costs 14
Oil and gas investment 4040
Mineral properties1,6631,663
Total assets4,5513,854
Liabilities:
Convertible debentures250-
Accts. pay. & accruals233535
Tot. curr. liabs.483535
Convertible debentures-250
Asset retirement obligation7265
Com. stk. p.$0.0013331
Paid-in cap.14,77112,742
Retained earns.(10,732)(9,769)
Non-controlling interest(76)-
Total liabs.4,5513,854
 
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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Interim Report    01/01/2010  -  03/31/2010
 
Income Statement
  2010
Amortization11
Exploration182
General and administrative234
Foreign exchange gain 45
Realized gains on sales of trading securities83
Net unrealized gains on trading securities153
Other income18
Net loss attributable to non-controlling interest(17)
Interest exp.1
Net income(112)
Share earns. basicNil
Share earns. dilutedNil
 
Balance Sheet
  2010
Assets:
Cash & equiv.1,002
Investments1,181
Other curr. assets65
Tot. curr assets2,248
Net property509
Oil and gas investment40
Mineral properties1,663
Total assets4,460
Liabilities:
Accts. pay. & accruals253
Tot. curr. liabs.253
Asset retirement obligation74
Com. stk. p.$0.00133
Paid-in cap.14,938
Subscriptions received in advance100
Retained earns.(10,844)
Non-controlling interest(94)
Total liabs.4,460
 
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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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Xtra-Gold Resources Corp.
Symbol:  XTGR


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2007   2340,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(110,000)
  2009   Full Year (960,000)
  2008   Full Year (3,230,000)
  2007   Full Year (1,870,000)
  2006   Full Year (2,560,000)
  2005   Full Year (270,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1Nil
  2009   1(.01)
  2009   2Nil
  2009   3(.01)
  2009   4(.01)
  2009   Full Year (.03)
  2008   1Nil
  2008   2(.01)
  2008   3(.05)
  2008   4(.05)
  2008   Full Year (.11)
  2007   1(.02)
  2007   2(.01)
  2007   3Nil
  2007   4(.03)
  2007   Full Year (.07)
  2006   1(.01)
  2006   2(.02)
  2006   3(.02)
  2006   4(.04)
  2006   Full Year (.10)
  2005   3.01
  2005   4(.02)
  2005   Full Year (.01)
 
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