Sabre Gold Mines Corp T.SGLD

« Sabre Gold Announces Senior Management Appointment

[GoldenPolarBear]

"...

Sabre Gold Announces Senior Management Appointment & Project Financing Update..."

"...VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) -- Sabre Gold Mines Corp. (TSX: SGLD, OTCQB: SGLDF) (“Sabre Gold” or the “Company”) is very pleased to announce a key appointment to its management team as well as a project financing and project update for its 100% owned Copperstone gold project located in Arizona, United States. 

Management Team Appointment

Sabre Gold is very pleased to announce that Mr. Mike Maslowski has been appointed Vice President, Chief Operating Officer.

Giulio Bonifacio, President & CEO stated: “Since Mike joined our group by way of the acquisition of Golden Predator we have been extremely pleased with his leadership and hands on approach at both our Copperstone and Brewery Creek projects. Mike brings a wealth of experience and with the recent addition of Sid Tolbert, Vice President, General Manager, we have in place a senior project team which will allow Sabre Gold to execute its strategy of advancing both the Copperstone and Brewery Creek projects into production in the near term.”

Mr. Maslowski is a geological engineer with a career spanning more than 40 years of varied experience in resource exploration and mining operations in diverse parts of the world. He has directed grassroots exploration programs, developed properties from exploration to production and managed mining operations. He was the team leader for the discovery of the Diamond Hill Mine for Pegasus Gold in the 1990’s and advanced the mine into production. He worked for Coeur d’Alene Mines for 10 years in positions that included Director of Exploration and Assistant General Manager for the Palmarejo Mine in Chihuahua, Mexico. He was Vice President Exploration and Chief Operating Officer for Golden Predator Canada. More recently he was Technical Services Superintendent for Teck’s underground lead-zinc Pend Oreille Mine in northeast Washington State. Mr. Maslowski holds a B.Sc. in Geological Engineering from Colorado School of Mines, is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists (AIPG), a Qualified Person (QP) as defined by National Instrument 43-101 and a member of SME.

John Galassini has stepped down from his position as Chief Operating Officer. Sabre Gold would like to extend its thanks to Mr. Galassini for his contributions as well as facilitating what has been a very smooth transition to our incoming Chief Operating Officer, Mike Maslowski. We wish John well in his future endeavors.

Project Financing Update

Sabre Gold continues to advance discussions regarding project debt which will allow Copperstone to advance to production within twelve months from funding. Sabre Gold’s project funding strategy remains focused on minimizing dilution to our existing stakeholders. To date we are pleased with the progress made advancing discussions with potential lenders, Star Royalties, and our current lenders both of which are directors of the Company.

Sabre Gold is in the enviable position of being one of the few companies that owns a fully permitted gold project in the American Southwest that can be advanced to production within a very short timeline. The required restart capital remains in line with previous estimates. In view of the existing infrastructure and underground development the required capital is significantly lower than what would be typically required. Existing infrastructure includes a tailings impoundment, 600 ton per day mill, site facilities and over 4,300 meters of underground development.

Project financing will focus on project debt as the primary source which will minimize dilution and may include the sale of short-term investments inclusive of proceeds from option or warrant exercises. The Company is currently evaluating several project debt financing alternatives and will provide a further update as discussions advance further...."

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https://stockhouse.com/news/press-releases/2022/04/28/sabre-gold-announces-senior-management-appointment-project-financing-update

A relatively vague Press Release, what & where is the financing coming from to put the Copperstone mine into production ?

[Myharleybike]

I think this answers your question.  To date we are pleased with the progress made advancing discussions with potential lenders, Star Royalties, and our current lenders both of which are directors of the Company.

[metalhead666]

No one is lending them squat. It's a hobby mine...not even that...it's a wanna be hobby mine where the insiders collect paychecks for doing nothing!  It's going to zero and you'll ride it all the way

[satchmo6]

we like the leach process---a quick way to get gold to sell for money to py bills---next thing is a big private placement --then things will heat up Whats not to like

[easycoder]

What is this 'leach process' here? Are you referring to the 250,000 oz of Gold on the Brewery Creek leach pads? If you are that was floated years ago as the way GPY was going into production - but no one wanted to finance it.

[Myharleybike]

Email from GB told me more like 180,000 ounces. They have to analyze it further, but there is a lot of gold on pad.

[easycoder]

Yes that sounds like the Brewery Creek heap leach pads. The estimates go back to what Viceroy left. I heard 125k oz. It varied over the years but while promoted and  a part of the various PEAs put out, it didn't help them raise any money.  Sounds like it's best to forget BC for the time being and get Copperstone going.  We know the promised date but no PRs on financing and