Welcome to our dedicated page for Scorpio Gold news (Ticker: SRCRF), a resource for investors and traders seeking the latest updates and insights on Scorpio Gold stock.
Scorpio Gold Corp. (OTCQB: SRCRF; TSXV: SGN; FSE: RY9) generates frequent news as it advances the Manhattan District, a consolidated gold exploration project in Nevada, USA. Company news releases focus on drill results, mineral resource estimates, property transactions, and corporate updates related to this historic gold camp.
Recent announcements highlight multi-phase drilling programs at Manhattan, including a Phase 1 diamond drilling campaign and a planned Phase 2 program targeting at least 50,000 metres of drilling. News items detail assay results from key areas such as the Gap Zone between the Goldwedge Mine and the West Pit, the Reliance Trend, Mustang Hill, and the West Pit extensions, with intervals reported from both near-surface and deeper structural zones.
Scorpio Gold’s news flow also covers technical milestones, including the filing of a NI 43-101 technical report containing a maiden inferred mineral resource estimate for the Goldwedge and Manhattan Pit areas, and the disclosure of a historical mineral resource estimate for satellite deposits like Black Mammoth, Hooligan, Keystone, and April Fool. Additional releases describe the identification of 19 high-potential exploration targets across the district and the ongoing digitization and compilation of extensive historical data.
Beyond drilling and resources, news updates include property and corporate developments, such as the sale of Mineral Ridge Gold, LLC and the receipt of deferred payments, as well as an option agreement on the Betty East Property in Nye County, Nevada, which is interpreted to be geologically contiguous with the southern portion of the Manhattan District. Investors can also follow coverage of marketing activities, conference participation, and changes in corporate roles.
This page aggregates these disclosures so readers can review Scorpio Gold’s latest drill results, technical reports, property agreements, and corporate announcements related to SRCRF and its Nevada gold exploration activities.
Scorpio Gold Corporation has opted to settle its semi-annual interest payment on US$7,125,000 secured subordinated convertible debentures in common shares. The interest payment of C$441,424 (US$357,226) will be made on October 26, 2021, with a record date of October 19, 2021. The company plans to issue 4,581,401 common shares at an issue price of $0.0964 per share, subject to TSX Venture Exchange approval. This decision aims to manage cash flow while meeting debt obligations.
Scorpio Gold Corporation has regained 100% control of its Mineral Ridge Property in Nevada after Titan Mining Corporation terminated their earn-in option agreement. This 14,000-acre property has historically produced approximately 1 million ounces of gold and has known resources of 335,000 ounces of gold. The site is fully permitted but currently on care and maintenance. Titan Mining's lack of drilling results limits Scorpio's analysis of exploration targets identified during their tenure. Scorpio Gold also holds interests in the Goldwedge property, enhancing its position in the region.
Scorpio Gold Corporation has made a semi-annual interest payment of US$355,274 to its debentureholders, as confirmed on April 26, 2021. This payment is related to its US$7,125,000 secured subordinated convertible debentures, which have a maturity date of April 26, 2022, and an interest rate of 10% per annum payable semi-annually. Notably, the company opted to pay this interest in cash rather than shares.
Scorpio Gold Corporation (TSXV:SGN) announced on October 19, 2020, that it will settle its semi-annual interest payment of $471,000 (US$357,767) on its secured subordinated convertible debentures by issuing 2,616,666 common shares at a price of $0.18 per share. This decision follows the approval from the TSX Venture Exchange. The issuance of shares helps the company manage its cash flow while fulfilling its debt obligations.