Welcome to our dedicated page for SABRE GOLD MINES news (Ticker: SGLDF), a resource for investors and traders seeking the latest updates and insights on SABRE GOLD MINES stock.
Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) is a diversified, multi-asset near-term gold producer in North America. The company owns 100% of the fully licensed and permitted Copperstone gold mine in Arizona and the Brewery Creek gold mine in Yukon, both former producers. With approximately 1.5 million ounces of gold in measured and indicated categories and 1.2 million ounces in the inferred category, Sabre Gold has significant exploration potential. Led by experienced mining professionals, the company is focused on restarting production at Copperstone and maximizing the exploration upside of its projects.
Minera Alamos (TSXV: MAI) announced the acquisition of Sabre Gold Mines through a definitive agreement signed on October 27th, 2024. The transaction will create a diversified North American gold producer, adding the Copperstone Mine in Arizona to Minera's portfolio. Copperstone, which previously produced 514,000 oz of gold from 1987 to 1993, is expected to contribute approximately 150,000 oz of annual gold production. The deal includes elimination of $9.4M in Sabre debt at a 15% discount. The transaction values Sabre at approximately US$43/oz based on resources and will result in Minera shareholders owning 86% of the combined company.
Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) has announced that it expects to be impacted by the receivership of Victoria Gold Corp. In September 2023, Sabre Gold sold its subsidiary Golden Predator Mining Corp., which held the Brewery Creek property and other mineral assets, to Victoria for $13.5 million. While $8.5 million was paid in cash at closing, the remaining $5 million was to be paid in installments on September 14, 2024, and September 14, 2025.
Due to Victoria's receivership, Sabre Gold does not expect to receive the $3 million payment due on September 14, 2024. The company is uncertain about receiving any future payments from Victoria. Sabre Gold plans to pursue legal remedies to recover the remaining payments, which are unsecured obligations of Victoria.
FAQ
What is the current stock price of SABRE GOLD MINES (SGLDF)?
What is the market cap of SABRE GOLD MINES (SGLDF)?
What projects does Sabre Gold Mines Corp. own?
How much gold does Sabre Gold have in the Measured and Indicated categories?
Who leads Sabre Gold Mines Corp.?
What is the focus of Sabre Gold Mines Corp.?
What is the exploration potential of Sabre Gold's projects?