Scorpio Gold Corp V.SGN

Alternate Symbol(s): SRCRF

Metals & Mining Gold

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

Scorpio Gold Corp

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Comment by microbullon Jan 23, 2015 5:16pm

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Post# 23357706

RE:Gold and silver supply agreement...

No discount, Waterton can be paid in gold (at spot) or cash. Company holds finished reserves with Johnson Matthey and can call for spot price LMX at any time. original loan was for $10m, which if I remember correctly they paid off back in September of 2012. Haven't talked to them in a while. Know that the first batch of cash from the Pinion sale went straight to paying off the Pinion/Goldwedge acquisition debt, per the loan agreement. last I heard, even with the lower gold prices, SGN was expected to be debt free by the end of Q2 2015. Hope that helps.

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