09:38 AM EST - Scorpio Gold Corp. : announced that it has entered into a binding agreement with Golden Phoenix Minerals, Inc. to buy the current 8% net smelter royalty which applies to 48 unpatented claims on the Mineral Ridge, Nevada property from the royalty owner, Mary Mining Trust, for $3 million U.S. The Mineral Ridge property from Golden Phoenix Minerals, Scorpio Gold would pay $3 million U.S. in cash at the closing to acquire the royalty. The Mineral Ridge project, a former producer, is located about 30 miles (50 kilometres) west of Tonopah, Nevada and has historically produced almost 575,000 ounces of gold which includes approximately 170,000 ounces from open pit and approximately 405,000 ounces from underground mining operations. Scorpio Gold Corp.
shares V.SGN are trading even at $0.50.
