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Scorpio Gold Corp V.SGN

Alternate Symbol(s):  SRCRF

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

Comment by Gold_Bullionon Jan 17, 2022 4:58pm
262 Views
Post# 34326143

RE:RE:RE:Anybody Notice The Name Kinross

RE:RE:RE:Anybody Notice The Name Kinross Scorpio's Manhattan asset was divested by Kinross last year. The asset where Scorpio just drilled. They own a tiny insignificant share in Scorpio as part of that deal but are likely watching this company. although the drill results were poor, I believe it confirmed the areas where Kinross suspected had no gold based on comparing Scorpio's drill map and Kinross' block shell model. Scorpio was going for upside to the Kinross' ~ +300,000 oz identified around the existing two pits at Manhattan (non 43-101). Scorpio hit good grade in the Kinross confirmed areas. Kinross still has leverage on this asset and their giant Round Mountain mine to the north is dropping in production quickly. It's already lost half its production in the last 8 years. I think within the next 2 years could see them drop below 200,000 oz/yr. This use to produce ~500k oz/yr when they had Barrick as their partner. They need ounces so we'll see how this materializes. Within 1 month after they divested this asset to Scorpio, news reports showed rumours of Kinross looking to divest their North American assets & focus on their Russian asset. CEO denied it tho. Just recently they signed agreement to clear all their cash and credit for Great Bear ($1.8 billion CDN) so Kinross is one I'm watching closely. 

I really wouldnt want to see a JV because it takes away the companies upside. It's essentially giving it away for free. They JV'd Mineral Ridge last year and the big shareholders were very pissed.
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