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Scorpio Gold Corp V.SGN

Alternate Symbol(s):  SRCRF

Scorpio Gold Corporation is a Canada-based company, which holds 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, United States. The Company's Manhattan District comprises the advanced exploration-stage Goldwedge Project, with an approximately 400 ton per day gravity mill. Adjacent to Goldwedge is the 4,300-acre Manhattan Project, which is centered on two past-producing pits. The Goldwedge property is located approximately 54 kilometers 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 Mineral Ridge gold project located in Esmeralda County, Nevada. The Mineral Ridge property comprises approximately 5,617-hectare (13,879 acre). The Company has acquired the Northstar property.


TSXV:SGN - Post by User

Bullboard Posts
Comment by RedHorizonon Apr 17, 2012 1:53pm
171 Views
Post# 19803659

RE: TWO THOUGHTS!

RE: TWO THOUGHTS!

Oilslick:

The 70% portion of Mineral Ridge was paid for by SGN, it will not "revert back" to GPXM simply because they "weren't satisfied".  GPXM has the opportunity to show a cause for possible damages which would mean SGN, or more likely Waterton, could owe GPXM some money.  Simply owing money should not affect SGN's title to Mineral Ridge.

I guess GPXM holders are forgetting that GPXM already had the intention of giving up ALL of it's interest in Mineral Ridge, that is why they gave SGN the option to buy the last 20% to begin with.  GPXM is more interested in their project in Panama.  That is why GPXM borrowed against their 20% of Mineral Ridge, to invest in their Panama project.  Let's not forget that it is GPXM who is the one who is in debt and has a 3 cent stock price.  Not Scorpio. 

GLTA Scorpio Longs

Bullboard Posts