The Vancouver-based miner reported that its Phase Two drilling program confirms both significant scale and high ore grade at the site. Following the release, the ADRs reached $11.66 before regulators paused activity. Investors reacted with similar intensity across other markets: the company’s TSX Venture-listed shares climbed 21 percent to 43 Canadian cents, while its OTCQB-listed shares gained 54 percent to 37 U.S. cents before those listings were also halted.
Scorpio Gold ADRs Soar 130 Percent Before Trading Halt
A 130 percent spike in Scorpio Gold’s American depositary receipts triggered an immediate trading halt on the Nasdaq exchange Wednesday. The surge followed an announcement of promising drill results at the company’s Manhattan District Project in Nevada, marking a volatile second day of trading since the firm's Nasdaq debut.
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