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Scorpio Gold ( (TSE:SGN) ) just unveiled an announcement.
Scorpio Gold has entered into a property option agreement to acquire a 100% interest in the Betty East Property, a block of 32 unpatented lode mining claims in Nye County, Nevada, and has staked additional claims to connect it with its existing Manhattan District holdings. Historical drilling and soil geochemical surveys at Betty East indicate near-surface gold mineralization and broader epithermal and intrusive-related targets, and by securing an option with staged cash, share payments and exploration expenditures over five years, the company is effectively expanding and consolidating its land package in the southern Manhattan District, enhancing district-scale exploration potential and long-term optionality in one of Nevada’s key gold belts.
The most recent analyst rating on (TSE:SGN) stock is a Sell with a C$0.32 price target. To see the full list of analyst forecasts on Scorpio Gold stock, see the TSE:SGN Stock Forecast page.
Spark’s Take on TSE:SGN Stock
According to Spark, TipRanks’ AI Analyst, TSE:SGN is a Neutral.
The score is held back primarily by weak financial performance (ongoing losses and significant cash burn). Offsetting this are constructive recent corporate developments (resource estimate, drilling results, and a funded drilling plan) and mildly improving technical signals. Valuation provides little support due to negative earnings and no dividend.
To see Spark’s full report on TSE:SGN stock, click here.
More about Scorpio Gold
Scorpio Gold Corporation is a Canada-based precious metals exploration and development company focused on advancing gold projects in Nevada, a leading jurisdiction for gold mining. The company’s activities center on consolidating and exploring prospective land positions in established gold districts such as the Manhattan District, targeting both near-surface oxide mineralization and deeper, structurally controlled gold systems.
Average Trading Volume: 355,210
Technical Sentiment Signal: Hold
Current Market Cap: C$96.13M
See more insights into SGN stock on TipRanks’ Stock Analysis page.