Sabre Gold Mines Corp (SGLDF)

[goldenpolarbear]

"...ELKO – The new owner of the Jerritt Canyon complex does not expect business as usual for the mine.

Jerritt Canyon Gold LLC, owned by Sprott Mining, wants to change how the site operates and its culture, said Jerritt Canyon Gold President and CEO Greg Gibson.

“I think the biggest change as compared to others that have come in is we are a private company,” Gibson said. “We’re not a public company, we’re private. For us to do that (buy Jerritt), we have to be very confident that we can do something with it, because the money is coming out of Mr. (Eric) Sprott’s jeans.”

Sprott, a Canadian billionaire, is one of the largest gold equity holders in North America, Gibson said.

“He is of the belief that there are a lot more ounces to come out of Jerritt Canyon,” Gibson said. “We’re of the belief that the mill and the roaster, although it needs a bath and a little bit of work, that it can turn into a business unit of its own. We’re going to have a combination of mining and custom milling, custom roasting.”

In the past, Jerritt Canyon has milled ore from mines owned by Newmont Mining Corp. and Klondex Mines.

He said Jerritt Canyon has a consistent grade, and he wants the site to be in the 150,000- to 200,000-ounce range each year.

“It has fabulous exploration potential,” Gibson said. “It has had zero exploration done in the last four or five years.”

Jerritt Canyon Gold bought the site Wednesday. The assets sold include the Jerritt Canyon facilities and the underground mines Saval 4, Smith, SSX-Steer Complex and Starvation Canyon. The site is about 50 miles north of Elko.

“It’s a completely new business model as to the old Jerritt Canyon,” he said. “It is a great facility and it’s got a whole lot of life left in it. We’re coming into it in probably the worst market anyone has ever seen in the gold mining sector.

“What we all have to understand is people made money at $350 gold,” he said. “People can’t make money at $1,200 gold. We have to figure out why.”

The sale of the site happened after a Canadian bankruptcy court ordered Veris Gold to sell its assets. Veris Gold had filed under Companies’ Creditors Arrangement Act in Canada, which is a type of bankruptcy protection, in June of last year. It was operating under the protection of the CCAA and the U.S. Bankruptcy Code since June 9, 2014...."

http://elkodaily.com/mining/canadian-billionaire-buys-jerritt-canyon/article_605d9414-8871-5695-878c-4c430c230929.html

Possibly, Mr. Eric Sprott may show some interest in the Copperstone Gold Mine now that these dismal shares are almost at rock bottom during the June 30th Kerr Mines early morning meeting on Bay Street in Toronto, Ontario Canada?

Why is any form of Veris Gold still http://www.otcmarkets.com/stock/YNGFF/quote
Hmmm?

http://www.usatoday.com/story/tech/2016/01/06/2016-ces-auto-tech-ranges-from-incremental-to-futuristic/78367642/