- Scorpio Gold (TSXV:SGN) is undertaking an C$8 million non-brokered private placement with high-profile mining investors Ross Beaty and Eric Sprott
- Scorpio is developing its wholly owned past-producing Manhattan District gold project in Nevada’s Walker Lane Trend, where mineralization to date has been delineated over a 335-metre strike length and to a vertical depth of over 150 metres
- The rebounding gold stock has added 171.43 per cent year-over-year but remains down by 78.89 per cent since 2020
Scorpio Gold (TSXV:SGN) is undertaking an C$8 million non-brokered private placement with Ross Beaty and Eric Sprott, who will pick up a combined 32 million shares priced at C$0.25.
This content has been prepared as part of a partnership with Scorpio Gold Corp., and is intended for informational purposes only.
Beaty, who played an instrumental role in building Pan American Silver (TSX:PAAS) into one of the world’s largest silver produces, has committed to subscribe for C$5 million.
Sprott, one of Canada’s most successful mining investors, and a previous chairman of Kirkland Lake Gold, intends to subscribe for C$3 million.
Proceeds from the financing, expected to close by September 2, 2025, will support further development at Scorpio’s flagship Manhattan District project in Nevada, which is located only 16 kilometres from Kinross Gold’s (TSX:K) more than 15-million-ounce Round Mountain mine and has yielded standout mineralized intervals, including 1.69 grams per ton (g/t) gold over 55.6 metres in 2024 and 3.89 g/t gold over 41.2 metres in 2022. Manhattan District’s maiden resource estimate is slated for Q3 2025, as detailed with the company latest drill results released on Monday.
About Scorpio Gold
Scorpio Gold is developing its wholly owned past-producing Manhattan District project in Nevada’s Walker Lane Trend. The ~4,780-hectare project, acquired from Kinross Gold in 2021, includes four past-producing pits, a 400-ton-per-day gravity mill, and more than 100,000 metres of historical drilling suggesting significant resource potential.
The rebounding gold stock (TSXV:SGN) is up by 13.43 per cent on the news trading at C$0.38 as of 12:41 pm ET. The stock has added 171.43 per cent year-over-year but remains down by 78.89 per cent since 2020.
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