Scorpio Gold Corp V.SGN

Alternate Symbol(s): SRCRF

Metals & Mining Gold

Scorpio Gold Corporation is a Canada-based company, which conducts mineral exploitation, exploration, and development activities in the United States. The Company holds a 100% interest in the consolidated Manhattan District in Nevada comprising the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and a 400 ton per day mill facility. The 100% owned Goldwedge property is located 54 kilometers (km) north-northeast of the town of Tonopah within the Manhattan Mining District of south-central Nevada. The 726-hectare (1,795 acre) property covers three separate claim blocks and encompasses the Goldwedge, Keystone and Jumbo gold deposits. It also holds a 100% interest in the Manhattan Property situated adjacent and proximal to the Goldwedge property. The 5,617 hectare (13,879 acre) Mineral Ridge property is located approximately six km northwest of the town of Silver ePeak and 56 km southwest of Tonopah in Esmeralda County, Nevada.

TSXV:SGN - Post by User

Scorpio Gold Corp

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Comment by jon8034on Jul 20, 2007 11:38pm

306 Views

Post# 13127783

RE: CHX - shorts

Might be that someone shorted CHX to buy SGN. SGN has been trading at par value or less to CHX on the .67 share basis. If you could short CHX and use the funds to only buy enough shares of SGN to cover after the conversion, you get the warrants and the shares in the new gold company for free. If you could get the SGN shares for better than par value to CHX then you also pocket cash. Once SGN shares get converted, CHX short position is "magically" covered and about a half million warrants are free. Only risk would be that the deal does not go through, but that seems unlikely - free money if you have the resources and the fortitude.

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