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

Bullboard Posts

Post by baystock1on Jul 09, 2017 7:55pm

450 Views

Post# 26449331

$6 million in debt coming due soon

In light of the current mine plan which anticipates mining at Mineral Ridge through to August 2017, the Company does not expect that it will be able to generate sufficient cash flows to settle its long-term debt, in the amount of $6.0 million principal, when due in August 2018. The Company is currently evaluating various business alternatives, which involve refinancing its long-term debt and/or raising financing through an equity financing or through other types of financing.

Bullboard Posts

Rig Count Soars as Utilization Surpasses Industry Averages