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 Rocks123on Sep 05, 2012 9:58pm

119 Views

Post# 20322518

RE: am i reading the resource update right?

We should see a resource estimate by the end of September. Can't see how it could be delayed any further. The cash flow of 80% vs. 70% ownership has to have some term attached to it. I think the 80% cash flow is permanent as it was part of the deal that SGN and GXPN did last year. GXPN needed SGN's approval to do the Waterton financing and they agreed to give them 80% of cash flow. If this is the case, the 70% to 80% ownership interest would become irrelevant.

Do you know the terms of the deal?

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