The going concern warning signals elevated risk, but the July public offering (C$10.8M) addresses near-term capital needs. Monitor exploration drill results from Goldwedge and any additional financings. The stock is OTC-listed and thinly traded; price sensitivity to liquidity news is high.
Price Chart
Executive Summary
Scorpio Gold reported a net loss of $3.12M for H1 2026 (vs $2.36M loss in H1 2025), with cash burn reducing working capital to $1.39M from $8.21M. The company issued a going concern warning but subsequently raised C$10.8M (US$ ~7.6M) in a July 2026 public offering. Exploration spending on the Goldwedge property more than doubled to $8.4M, driving mineral property carrying value to $18.0M. The offering provides near-term liquidity relief but the pre-revenue explorer remains dependent on continued financing.
Key Facts
- Net loss of $3,123,180 for six months ended June 30, 2026, compared to $2,355,608 in the prior year period.
- Working capital fell to $1,392,659 at June 30, 2026 from $8,206,299 at December 31, 2025.
- Cash and equivalents dropped to $2,588,600 from $8,337,777.
- Capitalized exploration expenditures on Goldwedge/Manhattan project totaled $8,431,675 (drilling $5,551,619).
- Mineral property carrying value increased to $18,002,636 from $9,107,359.
- Subsequent to quarter end, closed a public offering of 43,200,000 shares at C$0.25 for gross proceeds of C$10,800,000.
- Total shares outstanding grew to 302,964,194 at June 30, 2026 and 346,164,194 post-offering.
- Going concern uncertainty disclosed; management states current funds insufficient for next twelve months.
- No revenue reported; company is a pre-production exploration stage gold miner.
Financial Impact
Cash burn of $1.33M in operations plus $8.3M investing outflows; subsequent C$10.8M raise provides ~9-12 months of runway at current spend
Risk Factors
- Going concern risk if further financing is not secured
- Massive share dilution: share count more than doubled from 130.8M (Dec 2024) to 346.2M (post-offering)
- No revenue or production timeline; exploration success is binary
- OTC listing with low liquidity
Market Snapshot
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001753926-26-001679 |
| Document: g085909_ex99-2.htm | 0001753926-26-001679 |
| Document: g085909_6k.htm | 0001753926-26-001679 |
| Document: g085909_ex99-4.htm | 0001753926-26-001679 |
| Document: g085909_ex99-3.htm | 0001753926-26-001679 |
| Document: 0001753926-26-001679-index-headers.html | 0001753926-26-001679 |
| Document: 0001753926-26-001679-index.html | 0001753926-26-001679 |
| Document: 0001753926-26-001679.txt | 0001753926-26-001679 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | Press Release | $3.53 | awaiting T+5 | — | $3.36 (−4.82%) |
Oct 19, 2026 8d ago | 6-K | $3.38 $3.39 | ▲ +0.30% | ▲ +0.44% | $3.36 (−0.59%) |
Sep 17, 2026 5w ago | 6-K | $4.28 $3.87 | ▼ −9.58% | ▼ −10.18% | $3.36 (−21.50%) |
Sep 2, 2026 7w ago | 6-K | $7.23 $4.43 | ▼ −38.73% | ▼ −37.77% | $3.36 (−53.53%) |
Sep 1, 2026 7w ago | 6-K | $5.08 $4.86 | ▼ −4.33% | ▼ −4.41% | $3.36 (−33.86%) |
US Market Status
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