(TheNewswire)
June 20, 2022 - TheNewswire - Global Stocks News - Sabre Gold Mines (TSX:SGLD) (OTC:SGLDF) VP General Manager Sid Tolbertrecently spoke to Global Stocks News’ CEO Guy Bennett about SGLD’splans to re-start the Copperstone Gold Mine in Arizona.
Since hitting a 52-week high of USD $2,040 on March 9,2022, gold prices have fallen 10% to $1,840.
On June 15, 2022 the U.S. Federal Reserve announced a75-bps increase to help tame inflation. Rob McEwen, Chairman and ChiefOwner of McEwen Mining Corp believes the Fed’s inflation-tamingefforts will fail.
"The horse is already out of the barn," McEwen toldKitco . "[The Fed] has created amonster with monetary expansion and low interest rates. It's going totake quite a while to tame that."
Sabre Gold holds 100% interest in two near-term NorthAmerican gold producers: the fully permitted Copperstone gold minelocated in Arizona, USA, and the Brewery Creek gold mine located inYukon, Canada, both of which are former producers.
Management intends to restart production at Copperstonefollowed by Brewery Creek in the near term.
In the following video, VP General Manager Sid Tolberttalks with GSN’s Guy Bennett about current operations at theCopperstone Gold Project in Arizona.
GSN asked Tolbert about the advantages of re-starting aformer producer.
“The advantage of is that there is a lot ofinfrastructure already in place,” explained Tolbert, “AtCopperstone, we've got 4,300 meters developed. We've got fans inplace for ventilation. We've got discharge points, we can get rid ofthe water that we need to.”
“And the electrical infrastructure is already set. Soto start mining again, we just flip the switch on and go towork.”
“Over the next 12 months, we'll be finalizing theengineering plans”, continued Tolbert, “We'll complete thecontractor selection. In the later part of this year, we'll be lookingto re establish the mill.”
On June 1, 2022, Sabre Gold announced that it has begun the permittingprocess at the Brewery Creek Property located in the Yukon Territory.
In the same release SGLD announced that “the recentaddition of Mike Maslowski, COO and Sid Tolbert, Vice PresidentGeneral Manager and their collective wealth of underground experiencehas allowed for detailed examinations of several areas that areexpected to further optimize project economics.
“Sabre Gold continues to advance discussionsregarding project debt and is actively engaged with lenders andcurrent stakeholders,” stated SGLD, “Copperstone remains on trackto advance to production within twelve months from funding with astrategy that remains focused on minimizing dilution to our existingstakeholders.”
"The Russians use the term 'soft landing' fortheir astronauts coming back to Earth hitting not water, but hittingland," McEwen toldKitco , "We're moving in thatdirection, of a harder landing. We will be looking at a major marketcorrection within the next year or two."
"It takes time for people to shift from a beliefthat everything's getting bigger and better, to 'oh, maybe I have toprotect something.'” added McEwen, “And then the gold startsmoving… I think we have to see more stress in the system and peoplelooking and saying there's not many other avenues to go."
McEwen is predicting $5,000 per oz gold in the next"two to three years."
If McEwen’s predictions are correct, well-managedgold juniors like Sabre Gold, with experienced operations talent likeSid Tolbert, are likely to see a significant upward re-rating.
Contact: guy.bennett@globalstocksnews.com
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