Back To SGNI found this interesting from a news release on October 22,2021. Scorpio Gold- Arranges Short Term Credit Facility with Board.
SGN reports that certain directors of the company have agreed to provide the company with a short term credit facility in order to maintain its operations over the short term. The proceeds of the advances made under the credit facility will be used to bridge the company's activities until all Goldwedge assays have been announced so that an equity placement can be conducted later in the year.
I like the fact that certain directors have skin in the game and that they want to do a private placement after the Goldwedge assays are in. This indicates to me that they believe their share price will be higher after these assays are received, and the placement will be able to proceed at a higher price. There is no certainty that this will happen but the fact that it is being done this way makes me believe we will soon see higher prices. CHEERS!