March 21, 2017 / 12:21 PM / in 7 months

BRIEF-Sabina Gold & Silver reports 2016 financial results

March 21 (Reuters) - Sabina Gold & Silver Corp:

* Sabina Gold & Silver announces financial results for the year ended 2016

* Sabina - for 3-month period ended dec 31, 2016, reported a net loss of $2.0 million, favourable by $2.7 million compared to same period of 2015

* Sabina - strategic review on co’s wishbone property in nunavut, resulted write down of $5.2 million in q3 and $1.9 million in Q4

* Sabina - had cash and cash equivalents and short-term investments of $39.9 million at december 31, 2016

* Sabina - has budgeted $8.5 million as its base budget for 2017

* Sabina - planned certain discretionary activities, including exploration drilling program, among others

* Sabina - depending on timing and success of permitting process, total expenditures could range up to approximately $31 million in 2017 Source text for Eikon: Further company coverage:

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