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. reports gold exploration and capital-structure developments tied to its Manhattan District Project in Nevada. Company news centers on diamond-drill assay results, step-out drilling, and mineralization along areas such as Goldwedge, Black Mammoth, the Zanzibar Trend, the Gap Zone, Stray Dog, the Reliance Trend, and Iron Queen.
Updates describe gold intercepts hosted in volcanic and sedimentary units, including targets within the Manhattan Caldera and related district-scale trends. Scorpio Gold also reports financing-related items such as warrant exercises, warrant expiries, treasury changes, and the use of proceeds for drilling, technical studies, and general corporate purposes.
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.