Scorpio Gold Corp
Primary ticker: TSXV:SGN, OTC:SRCRF, FSE:RY9
Stage of development: Exploration, Production
Primary minerals: Gold
Project to promote: Manhattan (flagship project) and Mineral Ridge
Project location: Nevada, USA
Website: scorpiogold.com
Corporate presentation: Click here
Mining Stock Daily Interview: Click here
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Scorpio Gold holds a 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio Gold’s Manhattan District comprises the advanced exploration-stage Goldwedge Project, with a 400 ton per day gravity mill. Adjacent to Goldwedge is the ~4,780-hectare Manhattan Project, centered on two past-producing pits, acquired from Kinross in 2021. The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 100,000+ meters of historical drilling, with significant resource potential, alongside valuable permitting. Scorpio Gold also holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio Gold produced over 222,440 oz of gold at Mineral Ridge
between 2010 and 2020. With a proven and probable resource, valuable permits, water rights, infrastructure, and the recently acquired adjacent North Star exploration target, Mineral Ridge has significant near-term development potential.
Cash: CAD22M
Debt: Nil
Major shareholders:
EuroPac Fund – 7.75%
Augusta Investments – 3.57%
Other – 72.36%
Management ownership – 16.32%
Financials
Management Profile
Zayn Kalyan, CEO and Director
Zayn Kalyan is an experienced investment banker and business development executive. Starting his career as a software engineer, his background in the “ground-up” development of startup technology companies serves as his foundation in finance. He has been the CEO of Infinity Stone since 2017 and has played a critical role in its evolution and focus on the battery metals space. As a partner at Altus Capital Partners, Zayn has played an instrumental role in the origination of over $50 million in financing. Zayn has served in upper management and on the boards of multiple public companies since 2014.
Harrison Pokrandt, Vice President of Exploration
With over eight years of experience in mineral exploration, Mr. Pokrandt has developed extensive geologic knowledge working on various styles of gold deposits worldwide. His global experience includes projects in Canada, Nevada, Uzbekistan, Finland, Japan, and Mali. Primarily with major producer B2Gold, he has been involved in projects and mines at all stages of development, from grassroots exploration to active mining operations. Notable projects he has worked on include B2Gold’s Fekola, Skeena Resources’s Eskay Creek, and most recently B2Gold’s Back River Project. Additionally, Mr. Pokrandt serves as an Independent Director of Saga Metals Corp.
Michael Townsend, Director
Mr. Townsend has extensive experience in corporate finance spanning over 25 years and 30 years in Capital Markets. Mr. Townsend is one of the founding partners of Altus Capital Partners, a boutique investment bank based in Vancouver, B.C. Altus has been involved in raising over $180-million in equity financings over the past five years. Mr. Townsend co-founded Hemptown, Patriot One Technologies Inc., and Body and Mind Inc., Raytec Metals Corp., and previously served as CEO of Lateegra Gold Corp. and CEO of West Hawk Development Corp.
What is your rationale for taking part in 121 Mining Investment?
Investors looking to invest in gold exploration companies who have near-term production potential, and are looking for private placement opportunities, including market support. We are about to announce drill results from our Manhattan drill campaign, and are looking to make an internal resource compliant by Q1 2025. We are also currently doing the work to update our 2018 Feasibility Study using the current gold price at our Mineral Ridge project.
What recent news would you like to highlight to investors attending?
October 8, 2024: Scorpio Gold More Than Doubles Land Position, Further Consolidates Manhattan District
Link: https://scorpiogold.com/news/scorpio-gold-more-than-doubles-land-position-further-consolidates-manhattan-district/
October 3, 2024: Scorpio Gold Announces Close of Oversubscribed $2.5 Million Private Placement
Link: https://scorpiogold.com/news/scorpio-gold-announces-close-of-oversubscribed-2.5-million-private-placement/
3 Months:
Q3+Q4 2024:
1) Receive exploration program results at Manhattan
2) Begin Metallurgical Study on Manhattan
3) Explore production scenarios at Manhattan and Mineral Ridge
4) Begin exploration program at North Star target on Mineral Ridge
Q1 2025:
1)Announce Maiden Resource at Manhattan
6 Months:
Q1 2025:
1)Announce Maiden Resource at Manhattan
What do you think makes your company such a compelling investment?
We have a strong team, new investors and capital, as well as two permitted, high-grade gold assets that are positioned for value creation and investment upside.
Scorpio Gold holds a 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio Gold’s Manhattan District comprises the advanced exploration-stage Goldwedge Project, with a 400 ton per day gravity mill. Adjacent to Goldwedge is the ~4,780-hectare Manhattan Project, centered on two past-producing pits, acquired from Kinross in 2021. The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 100,000+ meters of historical drilling, with significant resource potential, alongside valuable permitting. Scorpio Gold also holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio Gold produced over 222,440 oz of gold at Mineral Ridge between 2010 and 2020. With a proven and probable resource, valuable permits, water rights, infrastructure, and the recently acquired adjacent North Star exploration target, Mineral Ridge has significant near-term development potential.
What are the top 3 key investor takeaways?
A Clear Plan to Create New Value Quickly
-Fresh capital, new investors, and management with strong technical team and capital markets access.
Notable Resource Forthcoming
-Past drilling at our Manhattan project defined an open-pit zone of scale and grade. Minimal investment away from a resource that has potential to re-rate the company.
District Scale Opportunity
-Significant infrastructure, modest resource, and undrilled exploration potential to define bigger system (higher grades, better metallurgy)