- Silver Bullet Mines (SBMI) has announced the arrival of its third and final shipping container at its mill site near Globe, Arizona
- This container holds the motor and drive train for the ball mill, which are the final major components required to complete construction
- Construction should take between 30 and 40 days to complete, followed by approximatly 2 weeks of fine tuning before processing higher-grade material from the Buckeye Silver Mine
- Once in production SBMI intends to produce silver dore bars to be sold to a smelter or a commodities trader
- Silver Bullet Mines is focused on discovery and development of mineral deposits
- Silver Bullet Mines Corp. (SBMI) is up 16.67 per cent on the day, trading at C$0.49 per share at 2:40 pm EST
Silver Bullet Mines (SBMI) has announced the arrival of its third and final shipping container at its mill site near Globe, Arizona.
The container finally cleared through the port of Long Beach and its contents were delivered to the mill site this past weekend. This container holds the motor and drive train for the ball mill, which are the final major components required to complete construction.
A. John Carter, SBMI’s CEO commented on the news.
“This is a tremendously important milestone for the shareholders. The delivery of the motor and drive train was the only major factor beyond our control. It’s been painful to see costs increase while we had to wait for these items. Now, it should take between 30 and 40 days to complete construction, following which the field team will run roughly two weeks’ worth of low-grade material to fine-tune the components. Then we intend to start processing the higher-grade material from our nearby Buckeye Silver Mine.”
Once in production SBMI intends to produce silver dore bars, to be sold to a smelter or a commodities trader. SBMI is in discussions with several such groups in anticipation of having saleable product in April 2022, which means the company anticipates being in receipt of cash payments soon thereafter. Those cash payments will buttress SBMI’s treasury, which since the start of the pandemic has suffered through escalating costs of shipping, parts, supplies, fuel, services and equipment.
“Getting into production logically leads to risk-mitigating cash flow into the company,” said Mr. Carter. “Then we can turn our efforts to the Washington Mine in Idaho and the McMorris Mine in Arizona, both former producers. The Washington Mine seems to be even better than we expected, as shown by the recent bulk sample results returning 55.5 oz/t silver.”
Silver Bullet Mines is focused on the discovery and development of mineral deposits primarily in Arizona with additional mineral properties in Idaho and Nevada.
Silver Bullet Mines Corp. (SBMI) is up 16.67 per cent on the day, trading at C$0.49 per share at 2:40 pm EST.
