NEW YORK, September 2, 2026, 10:02 EDT —
- Scorpio Gold ADS was last quoted at $11.66, marking a 129.1% rise compared to Tuesday’s close.
- The Nasdaq price was 50.1% higher compared to its corresponding TSX-V share equivalent.
- June disclosures revealed $2.59 million in cash on hand, highlighting a requirement for additional funding.
Scorpio Gold Corporation NASDAQ:SGLD American Depositary Shares were last seen at $11.66 at 09:34:38 EDT, marking a 129.1% increase compared to Tuesday’s closing price of $5.09. Over 5.6 million ADS were traded shortly after the market opened Yahoo Finance.
The more significant signal was seen in the alternative listing. At the identical time, shares of Scorpio Gold on the TSX-V were at C$0.54. Using the current exchange rate, twenty shares would amount to $7.77 TSX-V quote; USD/CAD quote.
As a result, the Nasdaq security traded at a 50.1% premium. The discrepancy highlights market mechanics rather than fresh drilling data as the primary concern for investors.
SGLD intraday checkpoints
U.S. dollars per ADS; premarket through the latest verified regular-session print
As of . Selected one-minute checkpoints; latest verified print, not streaming. Source: Yahoo Finance.
The ADS started trading on Nasdaq on September 1, with each ADS equal to 20 common shares. The Bank of New York Mellon allows issuance and cancellation via brokers company filing.
No issuance fees will apply until November 25. From that point, a $5 fee will be charged for every 100 ADS, rounding up. Convergence may still be delayed by settlement timelines and limits on borrow availability.
One claim, two market prices
Nasdaq premium: $3.89 per ADS, or 50.1%
Synchronized at 09:34 EDT on September 2, 2026. Calculation: 20 × C$0.54 ÷ 1.39035 CAD per USD. Sources: Nasdaq ADS, TSX-V shares, FX.
Trading in the U.S. line began with higher than normal liquidity. By the last confirmed trade, volume totaled 5.63 million ADS. In June, the share count stood at roughly 15.15 million ADS prior to subsequent adjustments.
The trading activity does not provide funds to Scorpio Gold. The company reported no revenue in its most recent quarter, making its financial resources more important than the initial premium.
Exploration spending outran available cash
U.S. dollars. Source: Scorpio Gold’s August 27 interim statements and MD&A filed with the SEC.
Cash declined from $8.34 million at the end of the year. Exploration spending over six months totaled $8.30 million. A further $1.33 million was used in operating activities interim MD&A.
Management stated that current funds are insufficient to support 12 months of planned operations. The filing noted that securing more financing is necessary. As a result, any lasting rise in valuation becomes strategically important.
The Manhattan District in Nevada serves as the underlying asset. It holds an inferred resource of 740,000 ounces at a grade of 1.26 grams per tonne. The resource estimate applies a cutoff grade of 0.3 grams per tonne project disclosure.
The latest drilling sheds light on the geology but is not the catalyst for today’s trading. July assay results showed 2.05 grams per tonne across 97.99 metres. “Manhattan keeps reinforcing its district-scale potential,” said exploration chief Harrison Pokrandt company release.
Based on June’s 302.96 million shares, the ADS price suggested an equity value of $176.6 million. The corresponding Canadian listing pointed to $117.7 million. These valuations do not reflect subsequent modifications in share count.
Risks: The premium could decline once conversions are finalized. Limited float may heighten volatility. Outcomes from exploration, permitting processes, recovery projections, and additional financing could lead to dilution for holders.
Scorpio Gold’s listing expanded its pool of investors, but left the deposit unchanged. The most immediate trigger for the stock remains the conversion path, unless prices align.
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