Business
Scorpio Gold Engages Artemis Capital Advisors LLC
VANCOUVER, BC / ACCESSWIRE / June 10, 2020 / Scorpio Gold Corporation ("Scorpio Gold" or the...
About this update from Scorpio Gold Corporation
[{"type":"text","content":"Scorpio Gold Engages Artemis Capital Advisors LLCVANCOUVER, BC / ACCESSWIRE / June 10, 2020 / Scorpio Gold Corporation (\"Scorpio Gold\" or the \"Company\") (TSXV:SGN) is pleased to announce the engagement of Artemis Capital Advisors LLC (\"Artemis\") as the Company's financial advisor in connection with securing term financing in support of development of the Company's Mineral Ridge gold project, located near Silver Peak, Nevada.The Company is advancing the brownfield development of Mineral Ridge and intends to reprocess existing heap leach material followed by extraction of fresh, hard rock ore; construct a mill utilizing the carbon-in-leach metallurgical recovery process; and implement a dry stack tailings storage facility, while taking advantage of substantial existing infrastructure at site (see April 22, 2020 news release). Together these development steps would both expand Mineral Ridge throughput capacity and extend its mine life.Concurrently the Company plans to expand our exploration programs to include the North Springs and Orleans properties within the Mineral Ridge project. A mapping and sampling program is ongoing and will identify targets for a later drill program.In its capacity as financial advisor to the Company for the Mineral Ridge project, Artemis will assist the Company in identifying and evaluating alternative sources of term financing such as capital markets, private equity firms, commodity-linked structures, including any financing proposals which the Company may already have received; advising on structuring, sourcing and reviewing financing proposals; and support of the Company in negotiating the financial aspects of a transaction.Artemis is a New York-based financial advisory practice providing corporate and project finance advice on a full range of strategic and financial matters tailored to clients in the mining industry. Artemis is composed of a team with over 45 years of collective mining investment banking experience and commodity markets expertise, having executed transactions with a combined value of over $4 billion. https://www.artemis.llc.About Scorpio GoldScorpio Gold holds a 100% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada. Mineral Ridge is a conventional open pit mining and heap leach operation. Mining at Mineral Ridge was suspended in November 2...