I know right, Imagine buying 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. It’s an extremely good bargain since Abcourt mines is also an emerging junior gold producer which has a target of Producing at their Elder Mine: 18,00 to 20,000 ounces/year and with their Sleeping Giant mine: 18,000 to 22,000 ounces/year. That’s like producing 36,000 to 42,000 ouncer/year and I’m sure once they reach that target their stock price will become so expensive. Moreover they’re gonna use it to drill the Flordin property which consists of 25 cells covering 976 hectares (5.9 km2 ).100% owned by Abcourt. In 2011, the project was re-assessed by Cadiscor Resources Inc. with an open pit plan. Again, the Company is prohibited to publish these results. During the 2018 fall, Abcourt completed a drilling campaign on the Discovery and Flordin properties (respectively 12 holes for 2,742 meters and 5 holes for 921 meters. The main results of these drilled are provided. here's the link for the previews drilling campaign results(https://abcourt.com/wp-content/uploads/2019/03/PR2019-03-20.pdf) The best results are as follows: Hole No. FL18-253 From(123.00) To(126.15) m(3.15) Au(g/t) (1.95 ) Hole No. FL18-254 From(38.25) To(40.35 ) m(2.10 ) Au(g/t) (6.49) Hole No. " From(47.70) To(51.20 ) m(3.50) Au(g/t) (22.63) Hole No. FL18-255 From(81.00 ) To(82.00 ) m(1.00) Au(g/t) (2.94) Hole FL18-254 was aimed at finding an extension along dip of a gold value of 103.7 g/t Au over 1.0 meter in hole FL11-251. The latter is located between the Flordin zone and the Cartwright showing where NAP Quebec drilled short holes on several sections, 50 meters apart. True width is about 70% of core length. The FL18-254 hole intersected two gold zones. The first one, from 38.25 to 40.35 meters is located in the bottom part of a sheared basalt associated with a silicified and hematized zone that may contain up to 3% pyrite. The second zone, from 47.7 to 51.2 meters, is also located in the sheared basalt, with ankerite-hematite alteration and 8% of disseminated fine pyrite. This sector is the most promising of the 2018 drilling by Abcourt. The high grade found in hole FL18-254, that is 6.49 g/t Au over 2.1 meters and 22.63 g/t Au over 3.50 meters, confirm the excellent results given by hole FL11-251, that is 7.98 g/t Au over 2.10 meters and 103.10 g/t Au over 1.0 meter drilled in 2011. Even if these values are not connected, this sector indicates a good potential for several reasons: 1) Results in hole FL18-254 are the most encouraging found since 2011 on the Flordin property; 2) The pyrite mineralization is found in a strongly altered zone with ankerite and hematite; 3) The Gold enrichment zone is not associated with quartz-carbonate veinlets in the basalt shear zone. The latter is sometimes magnetic; 4) The structure is open laterally and at depth. And also great news because finally Abcourt has received explosive permits for Sleeping Giant mine. They just recently resumed mining the Sleeping Giant mine and it’s a good start to receive explosive permits because we all know that the Sleeping Giant mine has a capacity to treat 700 to 750 tonnes per day. 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. A NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services Inc. So imagine buying a stock for a mining company that has a lot of potential.
While it all sounds good, and I do have some stock (bought at $0.11 US), time will tell if it's a good investment or not. Consider: Gold has always had a demand and yet the original Sleeping Giant Mine was shut down. Despite our best wishes, might the current owners have the same fate?
Well base on what I've read Abcourt mine shareholders have enjoyed a 529% share price gain from the past 5 years. So I don't think they will have the same fate.
Abcourt Is Pleased to Report a Net Profit of $1,008,856 for Annual 2020 Rouyn-Noranda, Quebec, Canada -TheNewswire -October 30, 2020 Abcourt Mines Inc. (ABMBF) (TSXV:ABI) (Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)("Abcourt" or the "Mines Abcourt inc.)reports its results today for the fourth quarter and fiscal year ended on June 30, 2020. All amounts are in Canadian dollars unless otherwise indicated. Highlights: -Revenues of $ 24,0 M for fiscal 2020. - Net profit of $ 1,008,856 - Adjusted net profit of $ 4,259,151 - Cash costs reduced by $ 3,1M or 12.4% - Gold inventory of $2,544,974 - Cash cost of $1,636 Can/oz, $US 1,228/oz of gold - Ounces produced 12,180, sold 11,640 - All-inclusive cost of $1,950 /ounce - Net profit of fourth quarter $ 1,081 498 - 6 000 Tonnes of broken muck in stopes with an investment value of about $800,000. - The company has no long-term debt. It finances itself with its operating revenues. Recent developments: -Drifting on 4Th, 10Thand 11Thlevels at Elder mine to open new ore zones. - Rehabilitation work being done in shafts and drifts at Sleeping Giant mine to develop new or zones on upper levels. - $448,815 raised by the exercice of the 2019 warrants. - $730 K received from Canada Emergency Wage Subsidy 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. 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, Province of Quebec. The mill has a capacity of 700 to 750 tonnes per day. Mesured mineral resources total 10,900 tones 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. A NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services inc. 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 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 et 2.83% zinc. About 81.6% of these reserves are mineable by open pit and 18.4% are mineable by underground operation. Inferred resources total 2.07M tonnes with a grade of 114.16g/t of silver and 2.89% zinc. A 43-101 feasibility study was completed by PBR Mining Services inc. in July 2019 To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site atwww.abcourt.comand consult our filings under Abcourt's profile onwww.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. 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 approve the scientific and technical disclosure.
Abcourt just released financial report. Here is a little of it: Rouyn-Noranda, Quebec, Canada -TheNewswire -November30, 2020 -Abcourt Mines Inc. (ABMBF) (TSXV:ABI),(OTC:ABMBF), ("Abcourt" or the"Company")reports its results today for the first quarter ended September 30, 2020. All amounts are in Canadian dollars unless otherwise indicated. Highlights: -Revenues of $7,810,494 for the first quarter ended September 30, 2020, the best to date. - Adjusted net profit of $1,787,909 compared to $ 890,187 in Q-1, 2020 - Costs of sales reduced by about $420,296, that is 6%. - Cash of $3,382,660. That is an increase of $ 1,421,740 for the quarter. - Gold inventory of $1,946,725, that is about 1,232 ounces - Ounces produced 3,008, sold 3,071. - All-inclusive cost of $2,184 /oz, or US $1,642/ounce. Cash cost of $1,897 /oz, US$1,426/ounce of gold. - The Company has no long-term debt. It finances itself with its operating revenues. Recent developments: -Drifting on 4Th, 10Thand 11Thlevels and rehabilitation work on 12thlevel at Elder mine to open new ore zones. - Rehabilitation work being done in shafts and drifts at Sleeping Giant mine to develop new ore zones on upper levels. - $448,815 raised by the exercise of warrants in September and October 2020. These warrants were issued in October 2019 This is a very good quarter, mainly because of the increase in the price of gold, but also with a reduction in the cost of sales. Our operations generated $1.4 M in cash. This will enable us to develop our Sleeping Giant project and to continue the development of the Elder mine.
Good news. They are expecting the repaired motor tomorrow for the Elder Mine. Should be back up running soon.
Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Corporation”), Abcourt Mines reports sales of gold of $ 6.8 M for the 4th quarter ended on June 30, 2021. These sales are 42% higher than those of the previous quarter at $ 4.8 M and 17% higher than those of the same quarter of the previous year at $ 5.8 M. For the 12-month period ended on June 30, 2021, the sales of gold totaled $ 27.8 M, that is 16% more than in the previous year at $ 24.0 M. The sales for the 12-month period ended June 30, 2021 are the best to date, despite a temporary closure of five weeks due to a failure of the Elder hoist. These figures have not been examined nor validated by our external auditors. Additional financial information will be provided after the audit. 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 and on the development of the Sleeping Giant 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 11.20 g/t of gold. Inferred resources are in 93,100 tonnes with a grade of 11.85 g/t of gold. For the long term at the Sleeping Giant mine, important mineralized targets in gold will be explored by drilling as soon as possible. The Abcourt-Barvue property has silver–zinc reserves . A NI 43-101 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. In addition, inferred resources total 2.07M tonnes with a grade of 114.16 g/t of silver and 2.89% zinc. 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 content of the disclosure in this press release.
Abcourt's lastest 2021 news. Please read more information @ https://abcourt.com/ Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Although, when we looked at Abcourt Mines (CVE:ABI), it didn't seem to tick all of these boxes. Understanding Return On Capital Employed (ROCE) For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for Abcourt Mines: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.062 = CA$2.6m ÷ (CA$50m - CA$7.3m) (Based on the trailing twelve months to June 2021). So, Abcourt Mines has an ROCE of 6.2%. On its own that's a low return, but compared to the average of 4.0% generated by the Metals and Mining industry, it's much better. Rouyn-Noranda, Québec, Canada, July 26, 2021 Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Corporation”), Abcourt Mines reports sales of gold of $ 6.8 M for the 4th quarter ended on June 30, 2021. These sales are 42% higher than those of the previous quarter at $ 4.8 M and 17% higher than those of the same quarter of the previous year at $ 5.8 M. For the 12-month period ended on June 30, 2021, the sales of gold totaled $ 27.8 M, that is 16% more than in the previous year at $ 24.0 M. The sales for the 12-month period ended June 30, 2021 are the best to date, despite a temporary closure of five weeks due to a failure of the Elder hoist. These figures have not been examined nor validated by our external auditors. Additional financial information will be provided after the audit. https://abcourt.com/wp-content/uploads/2021/07/PR20210726.pdf https://abcourt.ca/en/news/compte-rendu-sur-lavancement-des-travaux-a-la-mine-geant-dormant/ Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Corporation”), Abcourt Mines reports on the progress of work done at the Sleeping Giant Mine. The rehabilitation and development work at the Sleeping Giant Mine continue but at a slower pace than expected due to a shortage of man power. A recurrent request from potential candidates is about lodging. To satisfy this need, various measures were put in place. With the objective of providing lodging, the corporation has 3 mobile homes divided into rooms and has converted two offices into rooms in the Sleeping Giant office. This initiative has enabled us to hire 13 miners. The Corporation has two additional mobile homes which will be converted into 4 appartements (2 rooms each) to lodge additional workers. We continue to innovate to find ways which will permit us to hire needed workers. As it is to easier to recruit mechanics, welders and electricians at Elder because of a larger pool of population around Rouyn-Noranda, we will repair at Elder the Sleeping Giant mobile equipment namely locomotives, cars, loaders, slushing hoist, etc. more quickly and more effectively. In addition, the space now used for the mine store will be converted into a welding shop. A new building will be built for a new mine store. To enlarge our recruiting basin, we pay an allowance to those who come from distant areas. At the Elder mine we have about 20 employees who benefit from this allowance. It is also available to the Sleeping Giant employees. Our person responsible for Human Ressources, Stéphane Mercier, is focused on recruiting new employees. You may call him at (819) 768-2857, or send e-mail to [email protected]. DEVELOPMENT The development work is directed in priority to significant ore resources. The objective is to produce ore as soon as possible. Currently, most of the work is done on levels 235 and 295. Over the next months, it will be necessary to recruit additional miners and to open levels 355, 415 and 485. Over the latest months, definition drilling has been done for the preparation of stope plans. On level 235, in zone 3, the indicated resources according to Nil 43-101 are in the order of 16, 000 tonnes with a grade near 11g/t of gold. About 20 holes drilled in that area have located an extension of that zone, at least as important as the known one, according to our engineer in geology. Assay results will be published when the usual check assays will be done. _____________________________________________________________________________________________________________________________________________ 1 FOR IMMEDIATE RELEASE TSX Venture - ABI.V October, 29, 2021 ABCOURT DECLARES A NET PROFIT OF $2,4 M FOR THE 12- MONTH PERIOD ENDED ON JUNE 30, 2021 Rouyn-Noranda, Québec, Canada, October 29, 2021 https://abcourt.com/wp-content/uploads/2021/10/PR.pdf https://abcourt.ca/en/news/abcourt-declare-un-profit-net-de-24-m-pour-lexercice-termine-le-30-juin-2021/ FOR IMMEDIATE RELEASE TSX Venture – ABI.V July 26, 2021 $ 6.8 M SALE OF GOLD FOR THE 4TH QUARTER AND $ 27.8 M FOR THE 12 MONTH PERIOD ENDED ON JUNE 30, 2021 Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt" or the "Corporation"), Abcourt declares excellent results for the 12-month period ended on June 30, 2021, with $3,4 M in gross profits and $ 2,4 M in net profits despite 5 weeks of interruption to repair the hoist motor at Elder. All amounts are in canadian dollars unless indicated differently. HIGHLIGHTS: Revenues of $ 27.6 M in 2021, compared to $ 24.0 M in 2020, an increase of 15 %. Net profit of $ 2.4M in 2021 and $ 359 K in 2020. Gross profit of $ 3.4 M 2021, compared to $ 1.9 M in 2020, an increase of 80 %. Adjusted net profit of $ 5.1 M in 2021, compared to $ 4.2 M in 2020, an increase of 21 %. Cost of sales of $ 24.2 M in 2021, compared to $ 22.1 M in 2020, an increase of 9,5 % $ 2.4 M of cash on June 30, 2021, compared to $ 2.0 M in June 30, 2020, an increase of 20 %. Gold inventory of $ 2.5 M in 2021, comparable to the June, 30, 2020 amount, hence no change. Cash cost of CDN $ 1,845 (US $ 1,444) in 2021, compared to CDN $ 1,636 (US $ 1,228) in 2020, an increase of 12,5 %. 11, 398 ounces produced 11, 659 ounces sold in 2021 compared to 12, 180 ounces produced 11,640 ounces sold, hence a drop of 6,8 % for the ounces produced and no change in the ounces sold. Net profit of $ 547 K in the fourth quarter of 2021, compared to $ 431 K in 2020, an increase of 27 %. We are very satisfied with these results. NOMINATION : The Company is pleased to announce that Mr François Mestrallet a director of the company since December 2013 has been promoted to the post of Board chairman on October 15, 2021. He succeeds Mr Renaud Hinse who has presided Board meetings for many years since the acquisition of the Company in December 1979. Mr Hinse will continue as president and CEO of the Company. It was an honor for me to preside the Board meetings over many years, but the time has come for me to reduce my activities. Mr Mestrallet is an important shareholder of the Company and he has a good knowledge of its operations. The way he looks at things will be an important contribution to the Board. RECENT DEVELOPMENTS : Advancement of drifts on levels 11 and 12 and preparation of level 13 at the Elder mine. Rehabilitation of old drifts and advancement of new drifts on the upper levels of the Sleeping Giant mine to have acces to existing ore reserves and new zones indicated by previous and current drill holes. NEW PROJETS TO COME : Update of NI 43-101 resources calculations of Discovery, Flordin and Cameron Shear (50%) Surface drilling program at Sleeping giant mine. Re-activate the Abcourt-Barvue silver-zinc projet. Construction of a trail to acces the Tagami projet. 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 cost 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 Compagnie. 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 cost are common performance measures in the gold mining industry. The Compagny reports cash cost per ounce based on ounces produced. Cash cost include operating mining costs and 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 exclude amortization, depletion and accretion expenses. The Company believes that 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. 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 and on the development of the Sleeping Giant 3 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. An evaluation of the mineral resources, according NI 43101 was prepared by Mr. Valére Larouche, consulting engineer in geology. It was filed on Sedar on May 13, 2019. 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 1 1.20 g/t of gold. Inferred resources are 93, 100 tonnes with a grade of 1 1.85 g/t of gold. A NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services Inc. Probable reserves according to MI 43-101 have been estimated at 339, 221 tonnes with a grade of 7.9 g/t of gold. For the long term at the Sleeping Giant mine, some important targets of gold mineralization will be drilled as soon as possible. A resource estimate for the Abcourt-Barvue property was prepared according to NI 43-101 by Jean-Pierre Bérubé, engineer in geology in 2014. This estimate indicated of 8,083,000 tonnes of measured and indicated resources with a grade of 55.45 g/t of silver and 3.06 % of zinc. A feasibility study was done in 2007, according to NI 43-101 by Roche/ Genivar. And an update was done according to NI 43-101 by PRB Mining Services Inc. in 2018. Proven and indicated resources total 8,074,162 tonnes with a grade of 51.79 g/t of silver and 2.83% zinc, including 6,589,361 (81 tonnes mineable by open pit and 1,454,801 (18,4%) tonnes mineable underground. 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 content of the disclosure in this press release. 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 For more information, please contact: Renaud Hinse, President and CEO Dany Cenac Robert, Investor Relations T : 819 768-2857 450 446-5511 Reseau ProMarket Inc., F : 819 768-5475 450 446-3550 T: (514) 722-2276 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 _____________________________________________________________________________________________________________________________________________ ANOTHER GOOD QUARTER AT THE ELDER MINE WITH A NET PROFIT OF 592 932 $ https://abcourt.ca/en/news/en-another-good-quarter-at-the-elder-mine-with-a-net-profit-of-592-932/ Rouyn-Noranda, Québec, Canada, November 29, 2021 Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt" or the "Corporation"), declares good results for the 1st quarter ended on September 30, 2021, compared to the 1st quarter ended on September 30, 2020. All amounts are in canadian dollars unless indicated differently. HIGHLIGHTS: Revenues of $ 6,659,898 for the first quarter ended on September 30, 2021 compared to $ 7,810,494 in the quarter ended on September 30, 2020, hence a drop of 15% justified by a lower price for gold and by a reduction in the member of ounces sold. A net profit of $ 592,932 in 2021, compared to $ 1,055,638 in 2020 explained in part by a reduction in the number of ounces sold. Adjusted net profit of $ 1,257,087 in 2021, compared to $ 1,787,909 in 2020, hence a drop of 33 %. Cost of sales of $ 5, 793,520 in 2021, compared to $ 6,560,546 in 2020, hence a reduction of 19%. Cash of $ 1,428,798 on September 30, 2021, compared to $ 2,454,545 on June 30, 2021. Gold inventory of $ 2,695,785 in 2021, compared to $ 1,946,725 on September 30, 2020, for an increase of $ 745 k. Cash cost of $ 1,766 (US $ 1,403) compared to $ 1,897 (US $ 1,426) per ounce and an all inclusive cost of $ 2,095 (US $ 1,664) per ounce compared to $ 2,184 (US $ 1,642) per ounce in 2020. There was an increase of 8,7% of the ounces produced and a reduction of 4,9% of the ounces sold. Ounces produced in 2021 were 3,271 compared to 3,008 in 2020. Ounces sold in 2021 were 2,928 compared to 3,071 in 2020, hence an increase 8.7% of the ounces produced and a decrease of 4.9% of the ounces sold. Sales of 195 ounces of gold extracted by mine development at Sleeping Giant mine for a total of $ 440,912 in the first quarter ended on September 30, 2021. There was no sale in the 1st quarter of 2020. RECENT DEVELOPMENTS : Advancement of drifts on levels 11 and 12 and preparation of level 13 at the Elder mine. Rehabilitation of old drifts and advancement of new drifts on the upper levels of the Sleeping Giant mine to have acces to existing ore reserves and new zones indicated by previous and current drill holes. NEW PROJETS TO COME : Update of NI 43-101 resources calculations of Discovery, Flordin and Cameron Shear (50%) Surface drilling program at Sleeping giant mine. Re-activate the Abcourt-Barvue silver-zinc projet. Construction of a trail to acces the Tagami projet. _______________________________________________________________________________________________________________________________________ December 22nd, 2021 https://abcourt.com/wp-content/uploads/2021/12/PR2021-12-22.pdf Shareholders have approved the two resolutions on the agenda of the meeting, being the appointment of the chartered professional accountants firm Raymond Chabot Grant Thornton, as auditors of the Corporation, and the election of the directors proposed in the management proxy circular: Daniel Adam, René Branchaud, Christian Dupont, Normand Hinse, Renaud Hinse, François Mestrallet and Nicole Veilleux. Christian Dupont is a new director, replacing Jean-Guy Courtois, who has been a director of Abcourt for many years. Mr. Dupont, a mining engineer, has been in mining industry since the early 1970's. Previously he held positions as senior mining engineer for Norand and chief engineer for Exall Resources,as well as project manager for Luzenac inc., a producer of micronized talc products. His past experience includes President and director of Kayorum Gold Mines from 1992 to 1997, director of FIeldex Exploration from 1997 to 1998, Vice President and director of Tom Exploration from 2000 to 2006 and President and Ceo of Explor Resources Inc from 2005 to 2019. He has been President, CEO and a director of Brunswick Resources Inc. from December 2013 to August 2021. At the Board of directors meeting held after the shareholders meeting, the Board appointed Renaud Hinse as President and Chief Executive Officer of the Corporation, Francois Mestrallet as Chairman of the Board, Christine Lefebvre as Chief Financial Officer, Julie Godard as Corporate Secretary and Jasmine Hinse as Assistant to the corporate secretary. At he Board meeting, Renaud Hinse Announced his retirement as President and Chief Executive Officer of the Corporation, on March 31 2022. Therefore, the Board has created a recruitment committee to find candidates to replace Mr. Hinse in his role of President and Chief Excutive Officer. The Board will have the ultimate responsibility for appointing the new President and CHief Executive Officer of the Corporation as of March 31, 2022. The members of the recruitment commitee are Nicole Veilleux, René Branchaud and Daniel Adam. Renaud Hinse, CEO, has declared: ''It's time for me to retire as President and CEO of Abcourt, of which I am the founder. Over the course of several years, despite the pitfalls and sometimes unresponsive markets. I have managed to build a company that currently operates with 150 employees and has several excellent mining properties, including a gold mine currently in production (Elder) with annual sales of $25M to $30M. Additionally, another gold mine in development (Sleeping giant) and will double Abcourt's turnover in the short, and the Abcourt-Barvue project with zinc-silver reserves which is in the process of requesting certificates of authorization. I leave it to my successor to bring these projects to a successful conclusion and to do what is necessary for Abcourt Mines to become a large company according to the criteria of the Toronto Stock Exchange. '' François Mestrallet, President of the Board, has declared '' Renaud is the founder of Abcourt and he devoted all his time and energy to bring it to the stage of a mining company in production, despite difficulties. We sincerely thank him for all his efforts.'' Mr Hinse will remain a director of Abcourt and he will continue to the Corporation for as long as necessary to ensure a smooth and efficient transition. For more information, please contact: Renaud Hinse, President and CEO Dany Cenac Robert, Investor Relations T : 819 768-2857 450 446-5511 Reseau ProMarket Inc., F : 819 768-5475 450 446-3550 T: (514) 722-2276 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
Abcourt announces search for new CEO Rouyn-Noranda, Québec, Canada, February 1, 2022 Abcourt Mines inc. (« Abcourt » or the «Corporation») (TSX Venture: ABI) is pleased to announce it has initiated the process to identify and appoint a new Chief Executive Officer (CEO) to succeed to Renaud Hinse, who has previously announced his retirement, which will take effect at the end of March 2022. Mr. Hinse will continue to serve as CEO in the interim and will remain on the Board of directors of the Corporation. It is expected that the new CEO will be appointed during the first quarter of 2022. The job description for the CEO may be found at https://abcourt.com/wpcontent/uploads/2022/01/Description.pdf For additional information, nominations or confidential inquiries please contact: Daniel Adam, chair of the recruitment committee: [email protected]. Applications and nominations are currently being accepted until the position is filled. The target date for applications is February 11, 2022 https://abcourt.com/wp-content/uploads/2022/02/PR2022-02-01.pdf
