Scorpio Gold Corporation
Climate Impact & Sustainability Data (2018)
Reporting Period: 2018
Environmental Metrics
Climate Goals & Targets
Medium-term Goals:
- Construct a new processing facility at Mineral Ridge.
Short-term Goals:
- Obtain necessary financing.
- Receive WPCP approval (Q2 2019).
Environmental Challenges
- Suspended mining operations in November 2017 due to uneconomical remaining reserves.
- Need to raise sufficient financing for a new processing facility.
- Dependence on obtaining permits for construction and mining resumption.
- Volatile precious metal markets impacting financing options.
Mitigation Strategies
- Secured $7 million in convertible debentures, using $3 million to repay debts and acquire full ownership of Mineral Ridge.
- Ongoing financing discussions with financial firms.
- Received Plan of Operations amendment approval from BLM (June 27, 2018) and Reclamation Permit Modification & Bond Determination approval from BMRR (November 11, 2018).
- Awaiting Water Pollution Control Permit (WPCP) approval, expected in Q2 2019.