![]() The equipment package is valued at approximately US$39 million and has been fabricated or is in the production queue for delivery on or before the 2023 sealift to ensure installation prior to the mine start-up date, scheduled for Q1, 2025. FLSmidth (“FLS”) has been selected to supply the key process equipment for the Goose Mine.Efforts now focus on securing the remaining 25% of materials required. The Company continues to monitor, with a strategy of pre-planning and accelerating procurement efforts to reduce exposure to inflationary impacts. Reconciliation on purchases have seen an average overall inflationary escalation of 14% since March of 2021, with a 20% escalation on the purchases made in 2022. Sabina has procured, or has committed agreements to procure, just over 75% of these identified purchases. ![]() Of the C$610 million CAPEX estimated, approximately C$218 million was identified as direct equipment and materials purchases. This is an exciting time for the Company as we move to develop what we believe will be the first mine on this prolific gold district,” he said.Īfter the Company arranged over ~C$800 million of project financing package earlier this year, significant procurement, engineering and civil work has been completed at both the Goose site and the Port facility. ![]() “Additionally, we are fortunate that our strategy of pre-planning and accelerating procurement efforts has reduced our exposure to inflationary impacts and supply chain issues, and we are sufficiently funded for construction. Our recruitment efforts continue to be successful with considerable additions to the roster (from 30 personnel in March to 142 to-date and still adding), including many key positions.” In the meantime, we have been steadily advancing the project to be in a position to commence full construction in early 2023 with first production expected in Q1, 2025. “This is a milestone decision for the Company,” said Bruce McLeod, President & CEO “We are excited to formally commit to becoming a significant Canadian gold producer. With financing in hand and these significant activities completed, the Board of Directors of the Company has made a formal construction decision for the Goose Mine. In addition, the underground ramp has been progressed to our first ore access sublevel and will be sufficiently completed to enable underground drilling of the V2 zone in the 4 th quarter of this year. All major equipment and materials required for construction have been either procured, marshalled at our east and west transportation hubs, have been delivered or are in transit to the Port Facility in Bathurst Inlet, Nunavut. All pre-development activities are now completed and we are ready for full construction to commence in 2023. Over the past few years, Sabina has been steadily advancing logistics, civil works, engineering and procurement. ![]() The Goose Mine is the Company’s first mine on the 80 km long Back River Gold District, a multi-generational mining district already with a high-grade world class gold endowment. (“Sabina”) or (the “Company”) (SBB – TSX/ SGSVF - OTCQX) provides an update on advancements of the Goose Mine development at the Company’s 100% owned Back River Gold District in Nunavut, Canada. ![]() 07, 2022 (GLOBE NEWSWIRE) - Sabina Gold & Silver Corp. ![]()
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