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ABMBF - Abcourt mining

Discussion in 'Canadian Stocks Message Boards' started by Intern shIp, Sep 22, 2019.

  1. Intern shIp

    Intern shIp Member

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    www.abcourt.com will show you recent reports, others included for reference.

    Past results have been very promising and the future appears even better!

    Broad Oak undertook a detailed calculation of the metal balance of a more than 13,000 ton sample. The balance was within 2% which would be considered to be well within industry norms, for such a sample. This metal balance checked all aspects of the reserve/resource calculations used, as well as the appropriateness of the criteria used and the accuracy of the assaying. This check procedure did not just involve an assay of several small sections of core, but a 13,000 ton plus sample which is much more representative of the 801,112 tons of measured and indicated resource at a grade of 0.198 ounces of gold per ton. These resources comply with all of the requirements of policy 43-101. (An independent audit of the mines by Toronto-based Broad Oak Associates, completed for the National Instrument (NI) 43-101)

    http://gq.mines.gouv.qc.ca/documents/examine/GM61203/GM61203.pdf

    They recently approved even more exploration because the price of gold is rising. This pennystock once was worth 3$!



    Abcourt Mines could eventually add three and a half years of life to the Elder Mine in Évain. This would take it to seven years and eight months.

    This conclusion is based on an update of the Elder Mineral Resources and the Tagami Property, located immediately to the north of the mine, published on October 30 by the mining company.

    Net worth could triple

    At this time, the Elder mine produces an average of 18,300 ounces of gold per year since commercial production was achieved on January 1, 2016 at an average grade of 4.51 grams of gold per tonne of ore.

    Based on current parameters, the mine is expected to generate approximately $ 124 million in revenues after 4.25 years and, after the payment of $ 3.8 million in royalties, generate a net after-tax gain of $ 4.2 million. This net value is, however, very sensitive to the grade of the ore. According to Abcourt, a 10% increase in grade, a target of 5.0 grams of gold per tonne, would give Elder an after-tax net worth of approximately $ 11.9 million instead of $ 4.2 million. $.

    "In the last quarter of our 2018 fiscal year, April 1 to June 30, the weighted average grade of the mineralization at Elder was 4.81 grams of gold per tonne. Our goal in the coming months will be to get at least 5.0 grams of gold per tonne at the mill, "said Hinse.
    https://www.lecitoyenvaldoramos.com...rait-ajouter-plus-de-trois-ans-de-vie-a-elder
     
    Onepoint272 likes this.
  2. Intern shIp

    Intern shIp Member

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    [​IMG] A very interesting company! The total price of the entire property, including the treatment plant, is just a fraction of the value :D

    abmBF:Qc.ca's very own junior miner, Abcourt,booked a private placement that they will wisely use to do some more prospecting in their properties, namely exploration and digging for precious minerals!

    The proceeds from subscriptions of Units will be used mostly on two different gold properties
    owned 100% by Abcourt, as follows:
    At the Elder mine,
    [​IMG]
    https://www.juniorminingnetwork.com/images/news/April2018/AbcourtMines4252018.jpg
    a few holes will be drilled in vein 7 from drifts at the east end of levels 5
    and 6 and a drift will be started on level 16 to explore veins 1 and 7 and to explore the Silidor
    and/or Smoky Creek faults were four orebodies were found in the past and produced a total
    of 8.5 M tonnes of ore with a little more than 5 grams of gold per tonne. Our contracting mine
    geologist has strongly recommended these targets. See the press release dated August 22,
    2019.

    https://abcourt.com/wp-content/uploads/2019/08/PR2019-08-22.pdf

    At the Sleeping Giant mine, the upper part of vein 8 will be explored with surface diamond
    drill holes. See press release dated September 10, 2019.
    The proceeds from subscriptions of Flow-through Units will be spent on the Abcourt-Barvue
    property, and on some other properties in Quebec owned by Abcourt.

    https://abcourt.com/wp-content/uploads/2019/10/PR2019-10-08.pdf
     
    Onepoint272 likes this.
  3. Intern shIp

    Intern shIp Member

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    Keeping my fingers crossed they will reach results of a similar might in the future

    One section 1.3 meters wide contained 4,696 g/t silver and 11.75% zinc. The intersection was cut 225 metres below surface.

    The company’s stock was up 23.81% in mid-day trading Wednesday on high volumes.
    [​IMG]
    “Our drilling program continues to give excellent results in the main zone of mineralization. We are getting good grades and good widths,” Abcourt said in a statement.

    https://www.mining.com/abcourt-mines-soars-23-on-high-silver-grades/

    2019-08-22: Abcourt’s Directors have approved Two-Million (2) Dollars Exploration Program at Depth at the Elder Mine
    2019-08-07: Positive Feasibility Study for Sleeping Giant Mine – Modest Investment of only $5M
    https://abcourt.com/news/
     
  4. Intern shIp

    Intern shIp Member

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    Abcourt mining Declares very nice first quarter results

    https://abcourt.com/wp-content/uploads/2019/11/PR2019-11-29.pdf
    [​IMG]
    Recent developments:
    • Drilling programs planned for Elder and Sleeping Giant gold mines and on-going drilling program for Abcourt-Barvue silver-zinc project.
    • $ 728 000 recently raised by private placement for diamond drilling.
    • Work started to reopen the Sleeping Giant mine. We take advantage of the favorable gold price and the exchange rate of the Canadian/US dollars to move forward in our various projects and to increase the value of the company for the benefit of shareholders. Despite a decrease of the grade, the Elder mine is still profitable.

    Variations from 2018 to 2019
    • Tonnes treated • + 42 %
    • Gold ounces produced • + 7 %
    • Proceeds form sale of gold and silver • + 35 %
    • Total cash costs per ounce of gold produced • + 43 %
    • All-in sustaining costs per ounce of gold produced • + 43 %
    • Adjusted net profit • - 41 %
    • Cash at the end of the quarterly periods
    • 2018 = $ 2.5M • 2019 = $ 2.7M
    The Elder mine adjusted net profit is still significant at $900K.
    The mining costs increased from $186.84 / t in 2018 to $194,37 / t in 2019, an increase of only 4%.
     
  5. Intern shIp

    Intern shIp Member

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    https://www.globenewswire.com/news-...the-Vicinity-of-the-New-Longshot-Showing.html
    During the winter 2019 drilling campaign, a new gold showing, dubbed Longshot, was discovered in altered diorite, grading 0.25 g/t Au over 10.0 metres, including 2.19 g/t Au over 0.70 metre, from 117.0 to 127.0 metres in drill hole LAF-19-45. Drill hole LAF-19-46 intersected 0.37 g/t Au over 3.8 metres from 35.0 to 38.80 metres, approximately 500 metres south of hole LAF-19-45. The correlation between the two mineralized zones (pyrite and quartz veins) in holes 45 and 46 and historical IP anomalies is excellent. Note: True thicknesses cannot be determined with the information currently available; intervals are consequently reported in core lengths
    [​IMG]
    The Longshot diorite is favourably located on a regional scale as it borders several historical gold occurrences on Laflamme and is interpreted as an excellent physical and chemical trap for gold mineralization.

    https://abcourt.com/other-properties/
    Laflamme (gold)

    The Laflamme project is located approximately 30 km to the west of the town of Lebel-sur- Quévillon, in Abitibi, Québec. The property consists in 472 cells covering an area of approximately 24,716 ha and is held at 31.5% by Abcourt, in joint venture with Midland Exploration Inc. A new gold discovery was made in hole La-11-11 which gave 9.7 g/t of gold over 1.0 meter.
     
  6. Intern shIp

    Intern shIp Member

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    A great time to invest in this good gold mine while the price is low.

    https://abcourt.com/wp-content/uploads/2020/03/CP11032020.pdf

    The Elder mine adjusted net profit continue to be significant at each quarter. We take advantage of the favorable gold price and the exchange rate of the Canadian/US dollars to move forward in our various projects and to increase the value of the company for the benefit of shareholders. Despite a decrease of the grade, the Elder mine is still profitable. Broken muck in stopes As at December 31, 2019, there were about 6,000 tonnes of gold mineralization broken in stopes. This represents an investment of about $ 450,000. If this amount had been considered as an inventory, results would have been better by that amount. Non-GAAP Financial Performance Measures This press release presents certain financial performance measures, total cash costs per ounce of gold produced, sustaining costs and all-in sustaining costs per ounce of gold produced which are nonInternational Financial Reporting Standards (IFRS) performances measures. This data may not be comparable to data presented by other gold producers. Non-GAAP financial performance measures should be considered together with other data prepared in accordance with IFRS. The adjusted net profit is a measure of performance that members of the direction use to evaluate the performance of activities by the company. Without taking into account the accounting policies, taxation laws and the structure of capital as these elements may potentially give a wrong representation of the capacity of the company to generate cash with its operation. The adjusted net profit excludes interest expenses, taxes and amortization. The cash costs and all-in sustaining costs are common performance measures in the gold mining industry. The Company reports cash cost per ounce based on ounces produced. Cash cost include operating mining costs, royalties but is exclusive of amortization and depletion and sustaining capital expenditures. The all-in sustaining costs include costs of sales and sustaining capital expenditures and administrative costs but excludes amortization and depletion and accretion expenses. The Company believes that the all-in sustaining costs present a complete picture of the Company’s operating performance or its ability to generate free cash flows from its operation. STRATEGY AND OUTLOOK Currently, the Company is focussing on stabilizing and increasing the Elder production. Our objective is to produce 12,500 tonnes per month of gold mineralization. We wish to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine, to reduce the operating cost per tonne treated. For the long-term, in the gold sector, the Company had a drilling program, in the Fall of 2019, on the Abcourt-Barvue silver and zinc project and the Sleeping Giant gold property where substantial gold mineralization is found.
     
  7. Intern shIp

    Intern shIp Member

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    Abcourt was amongst the first mine in the region to reopen the sleeping giant mine amongst covid concerns...

    https://stockhouse.com/news/press-r...a-small-net-loss-of-98k-for-the-third-quarter


    Despite Covid-19, Abcourt Reports a Small Net Loss of $98K for the Third Quarter Ended March 31, 2020

    Despite Covid-19, Abcourt Reports a Small Net Loss of $98K for the Third Quarter Ended March 31, 2020
    V.ABI | June 5, 2020
    (via TheNewswire)

    [​IMG]

    Rouyn-Noranda,Quebec,Canada - TheNewswire - June 5, 2020 - Abcourt Mines Inc. (TSXV:ABI), (OTC:ABMBF),(Berlin:AML-BE) and (Frankfurt Stock Exchanges:AML-FF) ("Abcourt" or the"Mines Abcourt inc.), despite Covid-19, is pleased to report a small net loss of $97,604, for the third quarter ended on March 31, 2020. All amounts are in Canadian dollars unless otherwise indicated.

    These amounts and production results for the March 31 period have not been audited and have not been reviewed by our auditors in accordance with the standards of the Chartered Professional Accountants of Canada.

    Highlights :

    • - Third quarter revenues of $5.6 M from the sale of 2,585 ounces of gold. A drop of 28 % over the third quarter ended March 31, 2019.

      - The average realized price of gold sold in 2020 was C$2,158 per ounce (US$ 1,599).

      - Despite the Covid-19, the net loss in the third quarter 2020 was only $98K, compared to a net profit of $1.4M in 2019.

      - Adjusted net profit of $638K compared to $2.13M in 2019. For details see page 3

      - Cash of $2.1M, an increase of 28 % over 2019.

      - The Company has no long-term debt. It finances itself with its operating revenues.
    Recent developments:

    • - Work currently being done on levels 4, 9 and 10 at the Elder mine to open new stopes.

      - $ 728 000 recently raised by private placement for diamond drilling in 2020.

      - Work started to reopen the Sleeping Giant mine.
    Comparative table of results for the third quarters ended on March 31, 2020 and 2019

    Description

    March 31, 2020

    3 months

    March 31, 2020

    6 months

    March 31, 2019

    3 months

    March 31, 2019
    6 months

    Tonnes treated

    23,858

    84,799

    26,154

    74,873

    Grade of treated tonnes

    (g/t AU)

    3.60

    3.72

    4.07

    4.54

    Tonnes extracted

    23,754

    78,856

    25,633

    75,881

    Grade of extracted tonnes

    (g/t AU)

    3.99

    3.98

    3.92

    4.20

    Gold ounces sold

    2,585

    9,732

    3,322

    10,185

    Gold ounces produced

    2,542

    9,545

    4,000

    11,109

    Gold recovery

    95.13 %

    94.94 %

    96.19 %

    97.10 %

    Revenues from the sale of gold/silver

    $5,579,186

    $19,575,690

    $5,745,652

    $16,810,212

    Price of gold sold

    $/once

    2,158

    2,012

    1,730

    1,680

    US$/once

    1,599

    1,516

    1,309

    1,272

    Cash cost per ounce of produced gold

    $/once

    1,844

    1,693

    1,105

    1,240

    US$/once

    1,366

    1,276

    837

    943

    All-in sustaining costs per ounce of produced gold

    $/once

    2,129

    1,998

    1,362

    1,493

    US$/once

    1,577

    1,506

    1,031

    1,134

    Gold and silver stock ready to be sold

    $

    63,502

    63,502

    680,563

    680,563

    Gold and silver inventory in circuit

    $

    1,115,621

    1,115,621

    2,184,521

    2,184,521

    Total gold and silver inventory

    $

    $1,179,123

    $1,179,123

    $2,865,084

    $2,865,084

    Adjusted net profit

    $

    638,624

    2,560,630

    2,130,036

    4,391,385

    Net profit (loss) after taxes

    $

    (97,604)

    (72,642)

    1,417,794

    2,625,390

    Mining tax

    $

    -

    -

    123,000

    330,000

    Deferred taxes

    $

    -

    (65,850)

    (9,400)

    (154,900)

    Cash flow from operations

    $

    (629,156)

    2,858,072

    (356,818)

    2,218,426

    Cash at the end

    $

    $2,103,276

    $2,103,276

    $1,637,377

    $1,637,377

    Comments:

    Nine-month variations for the period endd on March 31, 2019 and 2010

    • - Tonnes treated
    • - + 13 %
    • - Gold ounces produced
    • - - 14 %
    • - Proceeds form sale of gold and silver
    • - + 16 %
    • - Total cash costs per ounce of gold produced
    • - + 37 %
    • - All-in sustaining costs per ounce of gold produced
    • - + 34 %
    • - Adjusted net profit
    • - + 42 %
    • - Cash at the end of the quarterly periods
    • - 2020 = $ 2.1M

      - 2019 = $ 1.6M
    The Elder mine adjusted net profit continues to be significant at each quarter.

    We take advantage of the favorable gold price and the exchange rate of the Canadian/US dollars to move forward in our various gold projects and to increase the value of the company for the benefit of shareholders.

    Broken muck in stopes

    As at March 31, 2020, there were about 6,000 tonnes of gold mineralization broken in stopes. This represents an investment of about $ 800,000. If this amount had been considered as an inventory, results would have been better by that amount.

    Non-GAAP Financial Performance Measures

    This press release presents certain financial performance measures, total cash costs per ounce of gold produced, sustaining costs and all-in sustaining costs per ounce of gold produced which are non-International Financial Reporting Standards (IFRS) performances measures. This data may not be comparable to data presented by other gold producers. Non-GAAP financial performance measures should be considered together with other data prepared in accordance with IFRS.

    The adjusted net profit is a measure of performance that members of the direction use to evaluate the performance of activities by the company. Without taking into account the accounting policies, taxation laws and the structure of capital as these elements may potentially give a wrong representation of the capacity of the company to generate cash with its operation. The adjusted net profit excludes interest expenses, taxes and amortization.

    The cash costs and all-in sustaining costs are common performance measures in the gold mining industry. The Company reports cash cost per ounce based on ounces produced. Cash cost include operating mining costs, royalties but is exclusive of amortization and depletion and sustaining capital expenditures. The all-in sustaining costs include costs of sales and sustaining capital expenditures and administrative costs but excludes amortization and depletion and accretion expenses. The Company believes that the all-in sustaining costs present a complete picture of the Company's operating performance or its ability to generate free cash flows from its operation.

    Adjusted annual net profit (non GAAP financial performance measure)

    2020

    2019

    3 months

    9 months

    3 months

    9 months

    $

    $

    $

    $

    Operating results

    (97,604)

    (72,642)

    1,549,901

    2,834,960

    Adjustments:

    Interest and penalties on taxes

    16,887

    47,454

    49,914

    54,105

    Amortization and depletion

    717,325

    2,579,328

    528,204

    1,496,269

    Amortization

    2,160

    6,490

    2,017

    6,051

    Sub-total

    736,228

    2,633,272

    580,135

    1,556,425

    Adjusted net profit

    638,624

    2,560,630

    2,130,036

    4,391,385

    STRATEGY AND OUTLOOK

    Currently, the Company is focussing on stabilizing and increasing the Elder production. Our objective is to produce 12,500 tonnes per month of gold mineralization.

    We wish to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine. This should reduce the operating cost per tonne treated.

    For the long-term, in the gold sector, the Company is planning a drilling program at the Sleeping Giant gold property where substantial unexplored gold mineralization is found.

    ABOUT ABCOURT MINES INC.

    Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is focusing on the exploitation of the Elder mine.

    In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource estimate and feasibility study was recently completed.

    The Abcourt-Barvue property has silver-zinc reserves (2019). A feasibility study was completed in 2007 by Roche / Genivar. An update was completed in January 2019.

    To know more about Abcourt Mines Inc. (TSXV:ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt's profile on www.sedar.com.

    This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a "Qualified Persons" under the terms of Regulation 43-101. Mr. Hinse has approved the scientific and technical disclosure.

    FORWARD LOOKING STATEMENTS

    This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

    The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt' annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

    For more information, please contact:

    Renaud Hinse, President and CEO

    T : 819 768-2857 450 446-5511

    F : 819 768-5475 450 446-3550

    Email:[email protected]

    Dany Cenac Robert, Investor Relations

    Reseau ProMarket Inc.,

    T: (514) 722-2276 x456

    [email protected]

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Copyright (c) 2020 TheNewswire - All rights reserved.

     
  8. Intern shIp

    Intern shIp Member

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  9. Intern shIp

    Intern shIp Member

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    Midland Exploration scanning some interesting depths in Quebec's North-Western Area


    Midland Begins Its First Exploration Program on Lewis, Northwest of Iamgold-Vanstar’s Nelligan Project
    https://www.juniorminingnetwork.com...st-of-iamgold-vanstar-s-nelligan-project.html

    TSX VENTURE: MD
    www.midlandexploration.com

    Mr. Gino Roger reports:

    MONTREAL, June 30, 2020 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the commencement of its first exploration program on the Lewis gold project, wholly owned by Midland and located approximately 60 kilometres southwest of the town of Chapais in Abitibi, Quebec. The Lewis project consists of 172 claims (95 km2) and covers a strategic position proximal to the Guercheville-Opawica deformation zone.

    The Lewis gold property is located approximately 60 kilometres northwest of the Nelligan deposit jointly held by Iamgold Corporation (75%) and Vanstar Mining Resources (25%), which hosts inferred resources totalling 96.99 million tonnes at a grade of 1.02 g/t Au for 3.19 million ounces of gold (Source: Iamgold Corporation website; as at December 31, 2019). Approximately 12 kilometres west of the Lewis property, the former Lac Shortt mine historically produced 2.7 million tonnes of ore grading 4.6 g/t Au (Source: MERN-SIGEOM).

    Cautionary statement:

    Mineralization occurring at the Nelligan and Lac Shortt gold deposits and at showings located on adjacent properties is not necessarily indicative of mineralization that may be found on the Lewis property held by Midland.

    This first field program, scheduled over a period of three weeks, mainly consists in prospecting work to test several structural and geochemical targets identified based on a compilation by Midland focussing on the Guercheville-Opawica structural corridor over a distance of more than 10 kilometres. The targeted areas are readily accessible and are located along the extensions of several historical occurrences located near the property, a few of which are located less than one (1) kilometre west of the Lewis property.

    • Savane showing: 7.9 g/t Au over 0.9 m and 6.3 g/t Au over 1.2 m (*channel samples; GM40740)
    • Relique showing: 3.8 g/t Au over 4.2 m (*channel sample; GM48897)
    • Butte showing: 21.3 g/t Au over 0.6 m and 6.5 g/t Au over 0.6 m (*channel samples; GM40757, GM48897)
    * (Source: MERN-SIGEOM; NTS sheet 32G12)

    Cautionary statement:

    The true thickness of historical drill intercepts and channel samples listed in this press release cannot be determined with the information currently available; intervals are thus reported in core length.

    The health and safety of our workers and contractors comes first, and we are taking the necessary precautions to prevent the spread of COVID-19, by complying with health and safety measures recommended by Public Health officials, and INSPQ and CNESST regulations governing the reopening of mineral exploration activities in Quebec.

    About Midland

    Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Wallbridge Mining Company Ltd., BHP Billiton Canada Inc., Agnico Eagle Mines Limited, O3 Mining Inc., SOQUEM INC., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.

    This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release including the content of the historical assessment report filed as GM 57119 in the Quebec government database.

    For further information, please consult Midland’s website or contact:

    Gino Roger, President and Chief Executive Officer
    Tel.: 450 420-5977
    Fax: 450 420-5978
    Email: [email protected]

    Website: www.midlandexploration.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.

    [​IMG]

    [​IMG]

    [​IMG]

    [​IMG]
     
  10. Intern shIp

    Intern shIp Member

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    Abcourt back on track, An article from a local newspaper!

    After a month of shutdown due to the COVID-19 pandemic, operations resumed with such ardor at the Elder mine that the employees of Mines Abcourt managed, upon their return to work, to achieve the best result of monthly production for the last 12 months.
    On March 20, three days after restricting access to its Evain facility, the mining company halted operations for health security reasons. On April 15, when operations restarted on a voluntary basis, more than 75% of employees answered the call.
    In a statement released on July 31, Abcourt said the relaunch was successful. “After returning to work, miners at the Elder mine broke 10,010 tonnes of gold mineralization in May. This is the best result of the 12-month period that ended on June 30, "it read. This brings the team closer to the company’s goal of eventually producing 12,500 tonnes of ore per month.
    Work carried out in recent weeks has also progressed in two galleries located on levels 4 and 10 of the mine. These should allow Abcourt to reach a mineralization richer in gold in early September. In the longer term, the company also plans to conduct surface drilling in the explored portion of its Sleeping Giant mine, north of Amos, where significant showings of mineralization have been identified.

    Read more at https://www.lecitoyenvaldoramos.com/article/2020/08/02/relance-couronnee-de-succes-a-la-mine-elder

    http://abcourt.com/
     
  11. Intern shIp

    Intern shIp Member

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    Rouyn-Noranda, Québec, Canada, July 31, 2020 Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Mines Abcourt inc.), is pleased to announce that after a temporary closure of almost one month due to Covid-19, mining operations at the Elder mine were re-started successfully. The necessary sanitary measures and distancing were respected, as requested by Quebec Health. When distancing is not possible, for example in the cage, masks are used. No Covid-19 cases were reported by our employees. After their return to work, the Elder miners managed to break 10,010 tonnes of gold mineralization in May, the best result for the 12-month period ended on June 30, 2020. Also, during the shut down, some repairs were done to the skips and to the ore and waste bins. This was done to avoid a temporary shut down in the future. Drift development on the 4th and 10th levels at Elder is progressing normally and should provide access to good gold mineralization in about 1 month.

    STRATEGY AND OUTLOOK

    Currently, the Company is focussing on gold. At the Elder mine, our objective is to produce 12,500 tonnes per month of gold mineralization. We wish to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine. This should reduce the operating cost per tonne treated. 2 For the long-term, in the gold sector, the Company is planning a drilling program at the Sleeping Giant gold property where substantial unexplored gold mineralization is found.


    ABOUT ABCOURT MINES INC.

    Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is currently focusing on the exploitation of the Elder mine. In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource estimate and feasibility study with reserves were recently completed. Proven mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and probable reserves total 475,625 tonnes with a grade of 11.85 g/t of gold. Inferred resources are in 93,100 tonnes with a grade of 11.85 g/t of gold. The Abcourt-Barvue property has silver–zinc reserves (2019). A feasibility study was completed in 2007 by Roche / Genivar. An update was completed in January 2019. A total of 8.07M tonnes are in proven and probable reserves with a grade of 51.79 g/t of silver and 2.83% zinc. About 81.6% of these reserves are mineable by open pit and 18.4% are mineable by underground operations. Inferred resources total 2.07M tonnes with a grade of 114.16 g/t of silver and 2.89% zinc. To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com. This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a “Qualified Persons” under the terms of Regulation 43-101. Mr. Hinse has approved the scientific and technical disclosure.

    FORWARD LOOKING STATEMENTS

    This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation 3 undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt’ annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

    For more information,
    please contact:
    Renaud Hinse, President and CEO Dany Cenac Robert, Investor Relations Reseau ProMarket Inc.,

    T : 819 768-2857 450 446-5511 T: (514) 722-2276 x456
    F : 819 768-5475 450 446-3550

    Email: [email protected] [email protected]

    [​IMG]

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
     
  12. Intern shIp

    Intern shIp Member

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    https://abcourt.com/wp-content/uploads/2020/08/PR2020-08-10.pdf great news from this Quebec based society!

    Rouyn-Noranda, Québec, Canada, August 10, 2020 Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Corporation”), is pleased to announce good results for the 4th quarter and the 12-month period ended on June 30, 2020. As indicated previously, the Elder mine was closed for almost one month due to Covid-19. During the closing, some of the gold contained in the mill circuit was used to pay for mine expenses. When the mine was re-opened, the first thing to do was to refill the mill circuit.


    In the 4 th quarter, we sold 1,821.5 ounces of gold for an amount of $4.26M. Mine production for the 4th quarter was 2,629 ounces of gold. At the same time, the gold inventory in the mill circuit increased to 1,126 ounces. At the current gold price, this represents an important amount.



    During the 12-month period ended on June 30, 2020, we produced 12,794 ounces of gold and sold 11,554 ounces for a total of $23.8M.


    On June 30, the cash was $1.7M.

    These figures have not been validated nor audited by our external Auditors.


    It is with the contribution of the whole team that it was possible to go through this difficult period and restart the mining activities with success.


    STRATEGY AND OUTLOOK


    Currently, the Corporation is focussing on gold. At the Elder mine, our objective is to produce 12,500 tonnes per month of gold mineralization. We wish to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine. This should reduce the operating cost per tonne treated. 2 For the long-term, in the gold sector, the Corporation is planning a $2M drilling program at the Sleeping Giant gold property where substantial unexplored gold mineralization is found.


    ABOUT ABCOURT MINES INC. Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is currently focusing on the exploitation of the Elder mine.


    In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource estimate and feasibility study with reserves were recently completed by PRB Mining Services Inc. Proven mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and probable reserves total 475,625 tonnes with a grade of 11.85 g/t of gold. Inferred resources are in 93,100 tonnes with a grade of 11.85 g/t of gold.


    The Abcourt-Barvue property has silver–zinc reserves (2019). A feasibility study was completed in 2007 by Roche / Genivar. An update was completed in July 2019 by PRB Mining Services Inc. A total of 8.07M tonnes are in proven and probable reserves with a grade of 51.79 g/t of silver and 2.83% zinc. About 81.6% of these reserves are mineable by open pit and 18.4% are mineable by underground operations. Inferred resources total 2.07M tonnes with a grade of 114.16 g/t of silver and 2.89% zinc.



    To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com. This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a “Qualified Person” under the terms of Regulation 43-101. Mr. Hinse has approved the scientific and technical disclosure.



    FORWARD LOOKING STATEMENTS

    This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation 3 undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

    The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt’ annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release.



    For more information, please contact:

    Renaud Hinse, Dany Cenac Robert,
    President and CEO T : 819 768-2857 Investor Relations Reseau ProMarket Inc.
    450 446-5511 F : 819 768-5475 ,T: (514) 722-2276 x456
    450 446-3550 Email: [email protected] [email protected]

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
     
  13. Small time investor

    Small time investor New Member

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    While it is always risky, I decided to buy some shares of this stock. The price is low and it looks like they are headed in the right direction.
    I also like their business plan. It's simple: make money, invest in expanding to make more money.
     
    Intern shIp likes this.
  14. Intern shIp

    Intern shIp Member

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    I believe this is a very safe stock and with the price of gold on the rise, it will be very promising. They're telling us great news about the sleeping giant mine, reopening soon, debt-free.

    UPDATE ON THE PREPARATION WORK FOR THE OPENING OF THE SLEEPING GIANT MINE

    _________________________________________________________________ Rouyn-Noranda, Québec, Canada, August 27, 2020 Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Corporation”), is pleased to announce that the preparation work for the opening of the Sleeping Giant mine is progressing as planned and that the objective of producing some ore at the Sleeping Giant mine, at the end of September or the beginning of October is attainable. To date, more than $5M has been invested in this project and the Company was able to do that with the Elder mine cash flow. The Company is very proud to have realized this project without contracting any debt.

    Work to be done:

    Shaft No.1 is used for the ventilation of mine and as an escape way. The old timber in the manway has to be replaced by new timber.

    Shaft No.2 is used for production and services. We have to repair and re-enforce the landings in the manway.

    The drifts that connect the two shafts have to be re-habilitated, as needed.

    Work history:

    The rehabilitation of the mill and tailings pond was started immediately after the purchase of the property in 2016 and continues. The mine now has to be rehabilitated for its re-opening.

    Repair work in the mine was started in the second quarter of the annual period ending on June 30, 2020. It consisted in having the needed installations and the equipment for the work to be done. The repair of landings in shafts No.1 and No.2 followed. This work was stopped in December 2019 but it was re-started on April 16, 2020, with the re-opening of the mine after the closure due to Covid-19. For this work, we 2 made sure that the timber used (Douglas fir) would last a long time and allow the operation to continue for many years. In a press released dated June 5, 2020, we announced that work to re-open the we announced that work to re-open the Sleeping Giant mine had started.

    Progress made on mine rehabilitation

    In Shaft No.1, repairs were done from surface to level 100 and the additional timber needed to repair the shaft to level 235 meters was recently received. This will enable us to complete the repair work in shaft No.1

    In Shaft No.2, all repairs have been done. The re-enforcing of landings and the installation of guards remain to be done.

    The drifts that connect shaft No.1 with shaft No.2 were upgraded on levels 55, 100, 145 and 190.

    After the repair of shaft No.1 to level 235 and after the upgrading of drifts on levels 235 and 295, we will start to produce some ore, probably at the end of September or beginning of October 2020.

    STRATEGY AND OUTLOOK

    Currently, the Corporation is focussed on gold. At the Elder mine, our objective is to increase production to 12,500 tonnes per month of gold mineralization.

    We wish to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine. This should reduce the operating cost per tonne treated.

    For the long-term, in the gold sector, the Corporation is planning a $2M drilling program at the Sleeping Giant gold property where substantial unexplored gold mineralization is found.


    ABOUT ABCOURT MINES INC. Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is currently focusing on the exploitation of the Elder mine.


    In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity to treat 700 to 750 tonnes per day. A NI 43-101 resource estimate and feasibility study with reserves were recently completed by PRB Mining Services Inc. Proven mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and probable reserves total 475,625 tonnes with a grade of 11.85 g/t of gold.

    Inferred resources are in 93,100 tonnes with a grade of 11.85 g/t of gold. The Abcourt-Barvue property has silver–zinc reserves (2019). A feasibility study was completed in 2007 by Roche / Genivar. An update was completed in July 2019 by PRB Mining Services Inc. A total of 8.07M tonnes are in proven and probable reserves with a grade of 51.79 g/t of silver and 2.83% zinc.

    About 81.6% of these reserves are mineable by open pit and 18.4% are mineable by underground operations. Inferred resources total 2.07M tonnes with a grade of 114.16 g/t of silver and 2.89% zinc.


    To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com.

    This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a “Qualified Person” under the terms of Regulation 43-101. Mr. Hinse has approved the scientific and technical disclosure.

    FORWARD LOOKING STATEMENTS

    This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

    The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt’ annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release

    For more information, please contact:
    Renaud Hinse, President and CEO Dany Cenac Robert, Investor Relations Reseau ProMarket Inc
    T : 819 768-2857 450 446-5511 T: (514) 722-2276 x456
    F : 819 768-5475 450 446-3550 [email protected]
    Email: [email protected]

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
     
  15. Small time investor

    Small time investor New Member

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    While all this looks good and shows progress, I do have a concern that according to OTC they are PINK. That means they are not doing the required filings. They even mention that the numbers have not been audited. Big question is why. If they are making money then they should be able to hire an accounting firm. Hopefully they will get this situation corrected soon.
     
  16. Intern shIp

    Intern shIp Member

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    I know what you mean, small time investor. In my opinion, this company is doing business with a lot of markets ( even in Germany) so conforming to OTC and hiring an accounting firm to conform to US norm would be quite expensive. Since they are working with a limited budget ( because they need to have the mine open according to market trends and prices and they are a junior minor company) it's probably not sustainable to hire an accounting firm that will audit their every move& quarters, considering this will still not bring the stock over the 2$ limit necessary to jump off the pink sheet pond.

    Looking at the stock from a US perspective, it's possible to see that they never actually went beyond a dollar. On the Canadian side, though, it's different. As you can see, the comment on this Seeking alpha article reminds of a time where it was at a dollar twenty five. https://stockhouse.com/news/newswire/2020/09/03/awaking-sleeping-giant-gold


    At the Elder mine, our objective is to increase production to 12,500 tonnes per month of gold mineralization.
    We wish to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine.
    This should reduce the operating cost per tonne treated.
    For the long-term, in the gold sector, the Corporation is planning a $2M drilling program at the Sleeping Giant gold property where substantial unexplored gold mineralization is found.
    https://abcourt.com/wp-content/uploads/2020/08/PR2020-08-27.pdf
     
  17. Intern shIp

    Intern shIp Member

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    For many, the main point of investing in the stock market is to achieve spectacular returns. While the best companies are hard to find, but they can generate massive returns over long periods. To wit, the Abcourt Mines Inc. (CVE:ABI) share price has soared 450% over five years. This just goes to show the value creation that some businesses can achieve. On top of that, the share price is up 175% in about a quarter.

    https://simplywall.st/stocks/ca/mat...urt-mines-cveabi-lovely-450-share-price-gain/
     
  18. Small time investor

    Small time investor New Member

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    Lets hope that when they do increase production that they manage to find lots of gold and the stock goes up. Well, that my plan anyway.
    Time will tell.
     
  19. Intern shIp

    Intern shIp Member

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    Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Corporation”), is happy to announce that the restart of mining activities after the mandatory closing due to Covid-19 was vigorous. Thanks to the increase in the price of gold, the proceeds received from the sale of gold and silver for the first quarter (July to September 2020), should reach $7.5M CDN. This is expected to be one of the best quarters since June 2018.

    *they're doing good, it seems, and the price of the stock is rising in a stable and steady manner, to its 2011 price level*

    “Measured mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and indicated resources total 475,625 tonnes with a grade of 11.20 g/t of gold. Inferred resources are 93,100 tonnes with a grade of 11.85 g/t of gold”.

    https://abcourt.com/wp-content/uploads/2020/09/PR2020-09-29.pdf
     
  20. Intern shIp

    Intern shIp Member

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    So far, so good: they're planning on drilling in another one of their properties. Sounds like great news to me, as this means the price of the share is likely to go up.

    Rouyn-Noranda, Québec, Canada, October 14, 2020 Abcourt Mines Inc. (TSX-V: ABI) (“Abcourt” or the “Corporation”), is pleased to announce that almost all holders of warrants issued in the private placement of 2019 have exercised their share purchase warrants. The Corporation has issued 1,335,960 common shares at a price of $0.13 per share and 1,744,000 common shares at a price of $0.16 per share, for a total subscription amount of $448,815.

    The proceeds from the subscription of the shares issued upon exercise of the 2019 warrants will be used by the Corporation for its working capital and for exploration and development work on its mining properties. The Corporation intends to do some drilling on its Flordin property. The Flordin property is located approximately 25 km to the north of Lebel-sur-Quévillon. It consists of 25 cells covering 976 hectares (5.9 km2 ). In 2011, the project was assessed by Ressources Cadiscor with an open pit plan.

    A calculation of resources was done by InnovExplo in the past. This cannot be published as Abcourt has not updated these calculations.

    https://abcourt.com/wp-content/uploads/2020/10/PR2020-10-14.pdf

    https://abcourt.com/the-discoveryflordin-project/
     

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