Zane Callyan

Scorpio Gold’s Nasdaq Debut ($SGLD), Manhattan District Scale Potential, and Reprocessing Upside

The guest argues the market is missing district-scale potential at Manhattan: only 2 km of an 8.5 km mineralized trend has been drilled. Scorpio Gold is targeting a 2-million-ounce resource update by end of 2026, up from 740,000 ounces, with two drills still turning in Nevada. A ~$600,000, 32-hole sonic drilling program will grade historic leach pads and waste dumps for potential toll-milling cash flow. The Nasdaq ADR (American Depositary Receipt) listing moved a larger share pool to the US, and a recent C$10.8M raise leaves Scorpio Gold with ~C$8M.

Scorpio Gold Confirms Round Mountain (16M AuOz) Mineralization in New 5 sq km Target – Zayn Kalyan

• Top takeaway He argues the newly confirmed mineralization in the Manhattan caldera's volcanic units is analogous to Round Mountain and gives Scorpio a large-scale, bulk-tonnage expansion opportunity that previous operators ignored as mapped-barren ground.
• He reports three rigs running, roughly 100 holes and about 27,000-28,000 meters drilled year to date as of June 2026, and stands by the 2-million-ounce resource goal for the end of 2026 with an updated resource due December 2026-January 2027.
• He describes the best volcanic intercept to date — about 0.6 g/t gold over roughly 60 meters near Black Mammoth — as early proof of concept in what is still a grassroots target outside the core resource model.
• He is evaluating the historic Echo Bay tailings and leach pad at Manhattan for low-risk, non-dilutive cash flow through partners rather than company-run production, with about six months needed to understand grade and volume.
• On financing and catalysts, he cites the final US$1 million Mineral Ridge payment due at the end of August 2026 and says the U.S. uplisting is nearly done, with definitive news expected within weeks.

Early drilling confirms gold mineralization in a new 5 sq km Manhattan caldera target, echoing Kinross' nearby 16-million-ounce Round Mountain producer. A caldera (collapsed volcano) can host wide, low-grade gold: the best volcanic intercept runs about 0.6 g/t (grams per tonne) over 60 metres. About 27,000-28,000 of 50,000 planned metres are drilled; an updated resource estimate is targeted for December-January toward the two-million-ounce goal. Management is evaluating historic Manhattan tailings and leach pads for partner-funded, non-dilutive cash flow, with roughly six months needed to size the opportunity. A second Mineral Ridge payment arrived in May, the final US$1 million is due in August, and a U.S. uplisting nears completion.

Don Durrett and John Feneck Interview Scorpio Gold ($SGN | $SRCRF) CEO on 50,000 m Drill Program

• Top takeaway Pitches Scorpio as positioned for rapid growth: fully financed for a 50,000 m program through December 2026, expanding the 740,000 oz resource at 1.26 g/t toward 2 million ounces by year-end, with 3-5 million ounces as guidance he is comfortable discussing for the larger system.
• Reports just over $8 million cash against ~$1 million monthly burn, Beatty and Sprott behind a September 2025 25-cent placement, warrants fully exercised by end-February, and a NASDAQ cross-list via MJDS very close to completion.
• Positions Manhattan as the closest large-scale project to Kinross's Round Mountain (mine life extended to 2038, a mill it cannot fill), arguing Scorpio becomes strategic as Round Mountain matures; Kinross holds a 2% NSR on half the resource while much of the blue sky is royalty-free.
• Concedes under questioning that the company is not locked into drill-and-sell: a mid-tier sale remains the stated endgame (~18 months out), but a JV with a free carry or building the mine are open as margins widen, with district mill-consolidation talks underway and large shareholders valuing the company above even a 100% premium.
• Details the 'Scorpio 2.0' reset he led from the beginning of 2024 — new board and investor group, sale of the mined-out Mineral Ridge — plus de-risking: water rights for a 6,000-8,000 tpd mill, a permitted 400 tpd mill and decline at Gold Wedge, ~92% historical CIL recoveries, and drilling at ~$450/m all-in toward an updated MRE in Q1 of next year.

Scorpio Gold is fully funded for a 50,000 m Nevada drill program, targeting growth from 740,000 oz toward 2 million oz this year. The CEO frames an eventual sale to a mid-tier as the goal, but says the company is not locked into any path. Grade is the differentiator: holding roughly 1.26 g/t against a 0.6 g/t Nevada open-pit average supports premium margins and strategic value. Durrett argues gold's pullback is a warning that the S&P is overextended, so he would buy junior dips rather than chase. The hosts frame junior mining returns as asymmetric: size positions small, buy capitulation, and only risk what you can afford to lose.