Toronto, Ontario –News Direct-Toronto, Ontario –News Direct Sabre Gold Mines Corp. under the care of GlobalStockNewsSabre Gold Mines Corp. is under the control of GlobalStockNews
June 20, 2022 TheNewswire 20th June 2022 – TheNewswire Global Stocks News – Sabre Gold Mines (TSX:SGLD) (OTC:SGLDF) Vice President of General Management Sid Tolbert recently spoke to Global Stocks News’ CEO Guy Bennett about SGLD’s plans to restart in the Copperstone Gold Mine in Arizona.
After reaching a 52-week record at USD $2,040 on the 9th of March 2022, the price of gold have dropped 10 percent to $1,840.
On June 15, 2022, on June 15, 2022, the U.S. Federal Reserve announced an increase of 75 basis points to reduce inflation. Rob McEwen, Chairman and Chief Director McEwen Mining Corp. McEwen Mining Corp believes the Fed’s attempts to control inflation will fail.
“The horse is already out of the barn,” McEwen stated to Kitco. “[The Fed] has created a monster with monetary expansion and low interest rates. It’s going to take quite a while to tame that.”
Sabre Gold holds 100% ownership in two short-term North American gold producers: the fully-permitted Copperstone gold mine within Arizona, USA, and the Brewery Creek gold mine located in Yukon, Canada, both of which were previously producers.
Management plans to resume production at Copperstone and then Brewery Creek in the near time.
In the video below the Vice-President General Manager Sid Tolbert talks with GSN’s Guy Bennett about current operations at the Copperstone Gold Project in Arizona.
GSN interviewed Tolbert about the benefits of restarting an old producer.
“The advantage of is that there is a lot of infrastructure already in place,” Tolbert said. Tolbert, “At Copperstone, we’ve developed 4,300 meters. We’ve got fans for air circulation. We have discharge points so that we’re able to get rid of the water we’re accustomed to.”
“And the electrical infrastructure is set. Therefore, to begin mining, we simply turn on the power and start working.”
“Over the next 12 months, we’ll be finalizing the engineering plans” Tolbert said. Tolbert, “We’ll complete the contractor selection process. In the latter part of the year, we’ll begin looking for a way to revive the facility.”
Click Image To View Full Size
In June of 2022 Sabre Gold announced that it has began the permitting process for the Brewery Creek Property located in the Yukon Territory.
In the same press release, SGLD stated that “the recent appointment in Mike Maslowski, COO and Sid Tolbert, Vice President General Manager, and their combined expertise in underground construction has provided for a detailed analysis of a variety of areas likely to improve the project’s economics.
“Sabre Gold continues to advance discussions regarding project debt and is actively engaged with lenders and current stakeholders,” said SGLD, “Copperstone remains on track to advance to production within twelve months from funding with a strategy that remains focused on minimizing dilution to our existing stakeholders.”
Click Image To View Full Size
“The Russians use the term ‘soft landing’ for their astronauts coming back to Earth hitting not water, but hitting land,” McEwen stated to Kitco, “We’re moving towards that direction, toward an even more difficult landing. We’ll be looking at the possibility of a major market correction in the next two or three years.”
“It takes time for people to shift from a belief that everything’s getting bigger and better, to ‘oh, maybe I have to protect something. ‘” McEwen said. McEwen, “And then the gold starts moving… I think we have to see more stress in the system and people looking and saying there’s not many other avenues to go.”
McEwen is forecasting gold worth $5,000 over the coming “two to three years.”
If McEwen’s forecasts are accurate the well-managed gold juniors such as Sabre Gold, with experienced operational talent such as Sid Tolbert, are likely to see an impressive increase in their rating.
View source version on newsdirect.com: https://newsdirect.com/news/sabre-gold-sgld-v-gm-talks-about-preparations-to-re-open-arizona-gold-mine-845549315