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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
Post by MiningMasterAuon Oct 11, 2019 4:43pm
673 Views
Post# 30223795

Profits Going Towards G&A Expenses...AKA SALARIES!

Profits Going Towards G&A Expenses...AKA SALARIES!Doesn't matter how much SGN has in gold, when the company keeps showing losses, it sends a negative signal. But the bigger issue is salaries paid to the 5 directors and other expenses not being cut. No profit, no stock price increase. Now if the insiders owned 30%+ of the shares, then it doesn't look as bad. But in combination, the board has less than 3% and one fund has 15%. Over 80% of the stock is retail held! sucks! No profits, this will be back to 2-3 cents before next summer unless gold goes to $2000+. Close to $1.3 million USD paid to 5 guys, unreal. $160-300K USD each, they should be buying 1 million shares each!
Bullboard Posts