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.

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Scorpio Gold Corp

Bullboard Posts

Post by RedHorizonon Apr 17, 2012 12:22pm

291 Views

Post# 19803135

A Few Thoughts

Someone had asked a question about why Waterton issued the notice of default in January when a payment wasn't due until March 30. GPXM may very easily have violated any number of COVENANTS in the agreement not related to the payment. You can be assured that Waterton places a variety of protective covenants in their loan agreements which they engage in with small companies like GPXM who have often not yet become profitable.

I also find it hard to believe that Scorpio would agree to deliver a 43-101 by any exact date. They have no control over when an engineering firm completes a report and we all know that everything in mining takes longer than it should.

GLTA

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