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Update: Sabina Gold & Silver Hires Bruce McLeod As Its President And CEO

Sabina Gold & Silver (OTCPK:SGSVF) just announced that its CEO Rob Pease is retiring and that Bruce McLeod will be taking over. McLeod has over 30 years experience in the industry including roles as CEO of Mercator Minerals and CEO of Creston Moly. According to the press release, McLeod "will immerse himself in his mandate to continue to refine the Company's strategy with a view to growth and opportunity, particularly in light of existing market conditions."

In light of my past crticism of the company, I think this is a key statement. The company has a large project - Back River in Nunavut - and an extremely valuable silver royalty (which will yield 600,000 oz. of silver per year for the duration of the mine's life) on the nearby Hackett River Project, which it sold to Glencore Xstrata (OTCPK:GLCNF). The Back River Project will be expensive to develop and it… Read More …