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Renaud Hinse, still active in the mining world at a venerable age
Posted on July 30, 2019Audio thread of Tuesday, July 30, 2019
7:18 a.m.
The Elder mine: development and outlook
Renaud Hinse, président et chef de la direction des mines Abcourt.
PHOTO : RADIO-CANADA
Renaud Hinse, President and CEO of Abcourt Mines, is a veteran of the
mining world who continues to work intensively despite having passed
retirement age a long time ago!
Having grown up on a farm, work has never scared Renaud Hinse,
who does not dare to reveal his age in public.
At some point in his life, his parents asked him if he preferred to
take over the farm where to continue his education.
I replied that I wanted to be educated , Mr. Hinse recalls.
When the last World War was declared, in 1939, asbestos became in great
demand, because it was used to insulate the rooms of the heating
centers of the submarines and the boats which were built in Sorel.
My father sold his land and we moved to Asbestos, where we were
closer to schools, so we were able to continue our studies.
I continued until grade 12, my brothers and sisters too.
It worked very well, because we had two engineers, two nurses and
a musician in France in the family ,
he says with pride.
The Elder mine, owned by Mines Abcourt (archives)
PHOTO: RADIO-CANADA / ANNIE-CLAUDE LUNEAU
Upon graduation as an engineer, Renaud Hinse received a scholarship from
the British government to go to England to do a work placement.
He wanted to specialize in steel metallurgy, which he did during his
year in England.
I came back to Canada and had a job in Chibougamau. I stayed 22 years in
Chibougamau.
After that, I went to Soquem for five years and then I went on my own.
It was at that time that I bought control of Abcourt mines , he
testifies.
The history of the Abcourt mines
The first mine put into operation by Abcourt dates back to 1985, when
the Abcourt-Barvue mine, in Barraute, was created.
The 1987 stock market crash, however, lowered the price of metals
and forced the mine to close in 1990.
Mines Abcourt then experienced a period of dormancy of about twenty
years.
During this period, I devoted myself to studying the genealogy of the
Hinse families and I kept the properties, hoping that the price of
metals would increase and that we could restart the projects that
had been forced to close , says Renaud Hinse.
Read also :
Abcourt mines buy Sleeping Giant processing plant
The Sleeping Giant processing plant, between Amos and Matagami, and
the Elder mine, in Rouyn-Noranda, are now among the assets of
Abcourt mines, in addition to Abcourt-Barvue, which has been
relaunched, and several others. projects.
Elder needs arms
The Elder mine, located in the Évain sector, is appealing to everyone to
find workers to help its development.
We achieved our goal, which was to produce 12,500 tonnes per month
by at least June, says Hinse.
We did not receive funding to open the mine, so we proceeded gradually
by hiring a group of workers to start production and production was
done gradually, from 2013 until today.
Renaud Hinse, CEO of Abcourt mines
In its early days, the mine drew the ore that allowed it to pay its
expenses.
In 2016, it officially entered commercial production.
Mines Abcourt is looking for a geologist, a mining engineer with several
years of experience, but especially experienced miners,
to operate the Elder mine.
Your comments
Please note that Radio-Canada does not endorse the opinions expressed.
Your comments will be moderated, and published if they respect
netiquette . Have a good discussion!
Show comments
https://ici.radio-canada.ca/premiere/emissions/des-matins-en-or/segments/entrevue/126746/hinse-renaud-mines-veteran-elder-evain
Abcourt ZOOM presentation Monday 6 P M Eastern?
Abcourt ZOOM presentation Monday 6 P M Eastern?
Please, tell more about how to be connected to the Abcourt ZOOM presentation Monday 6 P M Eastern?
Thanks in advance
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=159945281
Contact Dany Cenac Robert at dany@reseaupromarket.com for instructions
on how to join in the ZOOM discussion.
Abcourt Announces a
Net Profit of $1,1 M and
a Record Revenue of
$ 7,8 M for the First
Quarter Ended on
September 30, 2020
V.ABI | 2 hours ago
(TheNewswire)
Rouyn-Noranda, Quebec, Canada - TheNewswire - November 30 , 2020 -
Abcourt Mines Inc. (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 4 Th , 10 Th and 11 Th levels and rehabilitation work on 12 th level 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.
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 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 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.
A NI 43-101 resources estimate was filed on SEDAR in May 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 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 and 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.
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 in this press release.
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: rhinse@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Dany.Cenac-Robert@ReseauProMarket.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.
Copyright (c) 2020 TheNewswire - All rights reserved.
TheNewsWire
November 30, 2020 - 8:11 AM PST
Tags:
INDUSTRIAL METALS & MINERALS
1
Yamana to acquire Monarch
Gold in $152M deal
Yamana Is Buying Monarch Gold for $152M, Alamos Gold Stepping in?
https://www.youtube.com/watch?v=NS0dcF6SXlY
Monarques Golds past-producing Wasamac gold project in Quebec, as seen in 1984. Credit: Monarques Gold.
Monarch Gold’s past-producing Wasamac gold project in Quebec, as seen in 1984. Credit: Monarques Gold.
BY: CECILIA JAMASMIE, SPECIAL TO THE NORTHERN MINER NOVEMBER 2, 2020
Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY)
is expanding
its footprint in the precious metals-rich Abitibi region
of Quebec
by acquiring all shares in smaller rival
Monarch Gold (TSX: MQR) that it does not already own
for $152 million (US$114 million).
The cash and share deal gives Yamana
the Wasamac property, very close to
Abcourt Mines Elder Gold Mine &
According to a December 2018 feasibility study, Wasamac will be a 6,000-tonne-per-day operation.
The mine is expected to churn out 142,000 oz. gold per year for 11 years, at an all-in sustaining costs of US$630 per ounce.
Initial capital investment has been estimated
at $464 million to Re-develope and re-construct Monarch Gold’s past-producing Wasamac gold project which may take appr. 5 - 10 years etc.
By the time it can be re-commissioned to start production the cost maybe more than >$1 billion -
Let's compare Wasamac project to
Ex... The Sleeping Giant Gold Mine
which have all infrastructer and mining machine equipment in place
incl. mining permits etc.
I am sure you will find the huge gold bargain Abcourt Mines reprsent with their gold mines etc.
The Sleeping Giant Mine (gold)
RE; Production Mining & Milling
Ready To Restart -
RE: Production
RE: Sleeping Giant Gold Mine;
fully permitted!
They are doing upgrade to make the mine with the required safety level .
Compare other mine project who doing upgrades -
vs.
ex....
Magino starting in January 2021,
Argonaut expects a first gold pour from this operation in the first half
of 2023.
Before the mine construction can begin,
the company needs to first file a closure plan and post
an assurance bond with the province.
WHILE A 2017 FEASIBILITY STUDY ESTIMATED
THE INITIAL CAPITAL COST FOR
THE PROJECT AT
$321 MILLION, MORE RECENT COST ESTIMATES
PEGGED THIS INITIAL OUTLAY BETWEEN $360 MILLION
AND $380 MILLION,
WHICH INCLUDES CONTINGENCY
AND INFLATION. THE MAJORITY OF THESE COSTS
WOULD BE DUE IN 2021 AND 2022.
With these updated cost estimates in mind, Argonaut has a
financing plan in place that covers over $400 million in costs
through to 2022.
Abcourt's Sleeeping Giant Gold Mine -
is ready for milling and mining ,
the safety upgrades done -
The Sleeping Giant Mine
https://abcourt.com/wp-content/uploads/2017/06/mines-geant-dormant.jpg
http://abcourt.com/the-sleepy-giant-mine/
The Sleeping Giant Mine (gold)
The Elder Mine and Tagami Property
The Elder Gold Mine and Tagami Mine Property
is worth more than ABI's total market cap -
it's a bargain @ 10 x current market cap =
it is -
IMO!
The Elder mine and Tagami Property is conveniently
located 10 kilometres northwest of the mining community
of Rouyn-Noranda, Quebec, and is 100% owned by
Abcourt.
The Property comprises 36 contiguous claims, a
mining concession and two mining leases.
There are royalties of 2% to 3% NSR payable on different
parts of the Property.
Abcourt Mines Inc. V.ABI
Alternate Symbol(s): ABMBF
Ex.
ABI is undervalued and oversold and when
investors find the mines real values -
Bull hikes start with pennies/day and we will see 2-4 pennies/day but before increase to nickles/day for higher share price -
also it be no surprise to see quarters/day when the investors told their family and friends about the gold mines bargains they found,
Imo! smile)
Awaking a “Sleeping Giant” in Gold
Dave Jackson Dave Jackson, Stockhouse
1 Comment| 8 days ago
6
+ Favourites
Click to enlargeProfitable and producing. Two words that are music to any junior mining investor. In too many real life early-stage mining stories, the company simply can’t generate enough revenue – either publicly or privately – to sustain the costs drilling and exploration. Mineral exploration, especially diamond drilling, is expensive and time-consuming business. Thus, underfunded or ill-managed exploration companies are almost always doomed to failure.
That’s where lean, mean, and experienced mining operators like Abcourt Mines Inc.(ABI) (TSX-V.ABI, OTCMKTS: ABMBF, Forum) come into play. Founded in 1971, ABI is an established junior mining company with excellent operating potential for gold, silver, and zinc in the historically prolific, safe, and mining-friendly Abitibi, Quebec region.
Currently, the Company is focussed on gold exploration and production. At the Elder Mine, Abcourt says its objective is to increase production to 12,500 tonnes per month of gold mineralization.
Among the Company’s many assets – all located in Abitibi – are:
an operating gold mine advantageously located in the mining community of Rouyn-Noranda
a processing plant with a capacity of 750 tonnes per day
an advanced project for zinc and silver mining
plus, a large portfolio of exploration properties.
A second gold mine at their Sleeping Giant Property will be
commencing production in Q4 2020.
Needless to say, Abcourt Mines is a busy mining operation and
is just nearing scale.
In 2016, Abcourt acquired the Sleeping Giant mine and mill –
located approximately half-way between Amos and Matagami,
in Abitibi, Quebec – in the territory covered by
the Plan Nord of the Quebec government.
Click to enlarge with a new tab
Sleeping Giant mine and mill, Abitibi, Quebec. Image courtesy Abcourt Mines Inc.
In August 2019, an 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 high grade
of 12.20 g/t of gold and probable reserves total 475,625 tonnes
with a high grade of 11.85 g/t of gold. Inferred resources are in 93,100 tonnes, also with a high 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 8.07 million 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 2.07 million tonnes with a grade of 114.16 g/t of silver and 2.89% zinc.
The Elder Mine and Tagami Property
Conveniently located 10 kilometres northwest of the mining
community of Rouyn-Noranda, the Elder Mine and Tagami Property is and is 100% owned by Abcourt.
The cash producing property comprises 36 contiguous claims,
a mining concession, and two mining leases.
There are royalties of 2% to 3% NSR payable on different parts
of the property.
Click to enlarge with a new tab
Elder Mine and Tagami Property. The surface plant includes an office, a service building, a hoist room and a shaft building. The mine is serviced to a depth of 794 meters (2,606 feet) by two shafts and several drifts on 16 levels. All mining equipment and required facilities are in place. Image courtesy Abcourt Mines Inc.
Click to enlarge with a new tab
(Image courtesy Abcourt Mines Inc. Click to enlarge)
In the News
As previously mentioned, on August 27th, Abcourt Mines
announced 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 $5 million has been invested in this project
and the Company was able to do that with
the Elder mine cash flow.
The Company says it is “very proud to have realized this project
without contracting any debt.”
The Company also recently posted “good results” for
the Q4 and the 12-month period ending on June 30, 2020.
And as indicated in the stock chart below, share value has
more than doubled since mid-June.
Metals & mining investors, both retail and institutional,
know a good thing when they see it and with gold hovering
in the USD$2000 p/oz range at press time,
Abcourt Mines is clearly offering up real value and opportunity
in a red hot gold market.
For more information regarding Abcourt Mines Inc.,
please visit the company online
at
abcourt.com
Update on the Preparation Work for
the Opening of The Sleeping Giant Gold
Mine
https://www.youtube.com/watch?time_continue=5&v=RDZQoQ61RrY&feature=emb_logo
Gold & Silver bulls starting to break out > ^ > ^ > ^
bigone thanks; Here is the link & video for the Zoom meeting of Abcourt
•Dec 8, 2020
Dany Cenac Robert
27 subscribers
) bigone thanks; Let’s go, post the news everywhere.
Nice meeting yesterday we learnt a lot of things
Now we can help the company with 2 min per days.
1. They have 40 people working at Sleeping Giant, Things are moving
2. They are looking for people to eventualy replace mister Hinse
3. They are planning first pour of Sleeping Giant for this month
4. They follow the exact same plan that they been stating all the time.
Meaning that if they continue, we are looking at subtential increase
in Production
5. They hired 20 people from Westwood and now Elder team is complete.
Meaning they will be able to go full production on Elder.
6. They opened stoped on level 4-10-11 and working on 12 meaning the
grade should be better because less dilution when they are actually
mining in the mineralized zone instead of digging their way to get
it.
7. Their goal is to be able to annonce dividend somewhere in 2021.
8. They could be making about 30M net profit starting next fiscal year.
9. That is about 10 cents per shares. Company usually sells for 10-20
multiple of net profit.
10. This could be 1-2$ per shares.
11. They will be looking for parthner to accelerate other projects they
own and increase value for shareholders.
Folks now is the time to tell everyone.
Share below 20 cents are
shrinking and we need the stock to be at all time high to benefit from
tax lost season.
Let’s go, post the news everywhere.
by rpm111 (320) sth.
User Actions
Shareholder meeting! Very good meeting with M. Renaud Hinse.
We get few nice confirmations like:
- Sleeping Giant is moving foward as planned.
- The first gold dor from Sleeping Giant will be produce THIS MONTH.
- M. Hinse talked about Dividends in 2021.
And lot of good things.... )
---
Good meeting, dividends to be announce in 2021 if gold prices are staying good.
About 40 000 ounces projected for next year
Drilling at sg on going Sg has about 500 tons to process
First goldpour for sg before jan 2021
bigone thanks; Here's a few more tidbits from the meeting notes:
-The PowerPoint presentation will be on the website.
-20 additional miners were hired at Elder (they used to work at
Westwood). That will allow full production at Elder. This is great
because is hard to find miners.
-ABI will be gold focused for the next few years.
-More gold will be sold before the quarter ends, so Q2 ending Dec. 13st
should be very good.
-My take on the "successor" is that they are looking for a mine manager
for Sleeping Giant because they are rapidly ramping up with pre-
production there and it needs daily oversight, being too far away from
where Mr. Hinse's is located.
Yes, I agree that it is going in the right direction.
These things take time, but the progress is good and within
2 years we may be producing 40k oz au a year.
Not bad for not having to dilute further or to borrow.
I am satisfied.
by Geckomeister (16) sth.
User Actions
!
Gold & Silver bulls starting to break out > ^ > ^ > ^
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Shareholder meeting! Very good meeting with M. Renaud Hinse.
We get few nice confirmations like:
- Sleeping Giant is moving foward as planned.
- The first gold dor from Sleeping Giant will be produce THIS MONTH.
- M. Hinse talked about Dividends in 2021.
And lot of good things.... )
---
Good meeting, dividends to be announce in 2021 if gold prices are staying good.
About 40 000 ounces projected for next year
Drilling at sg on going Sg has about 500 tons to process
First goldpour for sg before jan 2021
bigone thanks; Here's a few more tidbits from the meeting notes:
-The PowerPoint presentation will be on the website.
-20 additional miners were hired at Elder (they used to work at
Westwood). That will allow full production at Elder. This is great
because is hard to find miners.
-ABI will be gold focused for the next few years.
-More gold will be sold before the quarter ends, so Q2 ending Dec. 13st
should be very good.
-My take on the "successor" is that they are looking for a mine manager
for Sleeping Giant because they are rapidly ramping up with pre-
production there and it needs daily oversight, being too far away from
where Mr. Hinse's is located.
Yes, I agree that it is going in the right direction.
These things take time, but the progress is good and within
2 years we may be producing 40k oz au a year.
Not bad for not having to dilute further or to borrow.
I am satisfied.
by Geckomeister (16) sth.
User Actions
!
Gold & Silver bulls starting to break out > ^ > ^ > ^
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
bigone thanks, yes I joined in and agree with you;
I did. I thought all things considered, that it went well.
Sounds like the future has a lot of potential. )
Renaud Hinse, still active in the mining world at a venerable age
Posted on July 30, 2019Audio thread of Tuesday, July 30, 2019
7:18 a.m.
The Elder mine: development and outlook
Renaud Hinse, président et chef de la direction des mines Abcourt.
PHOTO : RADIO-CANADA
Renaud Hinse, President and CEO of Abcourt Mines, is a veteran of the
mining world who continues to work intensively despite having passed
retirement age a long time ago!
Having grown up on a farm, work has never scared Renaud Hinse,
who does not dare to reveal his age in public.
At some point in his life, his parents asked him if he preferred to
take over the farm where to continue his education.
I replied that I wanted to be educated , Mr. Hinse recalls.
When the last World War was declared, in 1939, asbestos became in great
demand, because it was used to insulate the rooms of the heating
centers of the submarines and the boats which were built in Sorel.
My father sold his land and we moved to Asbestos, where we were
closer to schools, so we were able to continue our studies.
I continued until grade 12, my brothers and sisters too.
It worked very well, because we had two engineers, two nurses and
a musician in France in the family ,
he says with pride.
The Elder mine, owned by Mines Abcourt (archives)
PHOTO: RADIO-CANADA / ANNIE-CLAUDE LUNEAU
Upon graduation as an engineer, Renaud Hinse received a scholarship from
the British government to go to England to do a work placement.
He wanted to specialize in steel metallurgy, which he did during his
year in England.
I came back to Canada and had a job in Chibougamau. I stayed 22 years in
Chibougamau.
After that, I went to Soquem for five years and then I went on my own.
It was at that time that I bought control of Abcourt mines , he
testifies.
The history of the Abcourt mines
The first mine put into operation by Abcourt dates back to 1985, when
the Abcourt-Barvue mine, in Barraute, was created.
The 1987 stock market crash, however, lowered the price of metals
and forced the mine to close in 1990.
Mines Abcourt then experienced a period of dormancy of about twenty
years.
During this period, I devoted myself to studying the genealogy of the
Hinse families and I kept the properties, hoping that the price of
metals would increase and that we could restart the projects that
had been forced to close , says Renaud Hinse.
Read also :
Abcourt mines buy Sleeping Giant processing plant
The Sleeping Giant processing plant, between Amos and Matagami, and
the Elder mine, in Rouyn-Noranda, are now among the assets of
Abcourt mines, in addition to Abcourt-Barvue, which has been
relaunched, and several others. projects.
Elder needs arms
The Elder mine, located in the Évain sector, is appealing to everyone to
find workers to help its development.
We achieved our goal, which was to produce 12,500 tonnes per month
by at least June, says Hinse.
We did not receive funding to open the mine, so we proceeded gradually
by hiring a group of workers to start production and production was
done gradually, from 2013 until today.
Renaud Hinse, CEO of Abcourt mines
In its early days, the mine drew the ore that allowed it to pay its
expenses.
In 2016, it officially entered commercial production.
Mines Abcourt is looking for a geologist, a mining engineer with several
years of experience, but especially experienced miners,
to operate the Elder mine.
Your comments
Please note that Radio-Canada does not endorse the opinions expressed.
Your comments will be moderated, and published if they respect
netiquette . Have a good discussion!
Show comments
https://ici.radio-canada.ca/premiere/emissions/des-matins-en-or/segments/entrevue/126746/hinse-renaud-mines-veteran-elder-evain
Abcourt ZOOM presentation Monday 6 P M Eastern?
Abcourt ZOOM presentation Monday 6 P M Eastern?
Please, tell more about how to be connected to the Abcourt ZOOM presentation Monday 6 P M Eastern?
Thanks in advance
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=159945281
Contact Dany Cenac Robert at dany@reseaupromarket.com for instructions
on how to join in the ZOOM discussion.
Abcourt Announces a
Net Profit of $1,1 M and
a Record Revenue of
$ 7,8 M for the First
Quarter Ended on
September 30, 2020
V.ABI | 2 hours ago
(TheNewswire)
Rouyn-Noranda, Quebec, Canada - TheNewswire - November 30 , 2020 -
Abcourt Mines Inc. (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 4 Th , 10 Th and 11 Th levels and rehabilitation work on 12 th level 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.
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 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 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.
A NI 43-101 resources estimate was filed on SEDAR in May 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 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 and 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.
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 in this press release.
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: rhinse@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Dany.Cenac-Robert@ReseauProMarket.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.
Copyright (c) 2020 TheNewswire - All rights reserved.
TheNewsWire
November 30, 2020 - 8:11 AM PST
Tags:
INDUSTRIAL METALS & MINERALS
1
Yamana to acquire Monarch
Gold in $152M deal
Yamana Is Buying Monarch Gold for $152M, Alamos Gold Stepping in?
https://www.youtube.com/watch?v=NS0dcF6SXlY
Monarques Golds past-producing Wasamac gold project in Quebec, as seen in 1984. Credit: Monarques Gold.
Monarch Gold’s past-producing Wasamac gold project in Quebec, as seen in 1984. Credit: Monarques Gold.
BY: CECILIA JAMASMIE, SPECIAL TO THE NORTHERN MINER NOVEMBER 2, 2020
Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY)
is expanding
its footprint in the precious metals-rich Abitibi region
of Quebec
by acquiring all shares in smaller rival
Monarch Gold (TSX: MQR) that it does not already own
for $152 million (US$114 million).
The cash and share deal gives Yamana
the Wasamac property, very close to
Abcourt Mines Elder Gold Mine &
According to a December 2018 feasibility study, Wasamac will be a 6,000-tonne-per-day operation.
The mine is expected to churn out 142,000 oz. gold per year for 11 years, at an all-in sustaining costs of US$630 per ounce.
Initial capital investment has been estimated
at $464 million to Re-develope and re-construct Monarch Gold’s past-producing Wasamac gold project which may take appr. 5 - 10 years etc.
By the time it can be re-commissioned to start production the cost maybe more than >$1 billion -
Let's compare Wasamac project to
Ex... The Sleeping Giant Gold Mine
which have all infrastructer and mining machine equipment in place
incl. mining permits etc.
I am sure you will find the huge gold bargain Abcourt Mines reprsent with their gold mines etc.
The Sleeping Giant Mine (gold)
RE; Production Mining & Milling
Ready To Restart -
RE: Production
RE: Sleeping Giant Gold Mine;
fully permitted!
They are doing upgrade to make the mine with the required safety level .
Compare other mine project who doing upgrades -
vs.
ex....
Magino starting in January 2021,
Argonaut expects a first gold pour from this operation in the first half
of 2023.
Before the mine construction can begin,
the company needs to first file a closure plan and post
an assurance bond with the province.
WHILE A 2017 FEASIBILITY STUDY ESTIMATED
THE INITIAL CAPITAL COST FOR
THE PROJECT AT
$321 MILLION, MORE RECENT COST ESTIMATES
PEGGED THIS INITIAL OUTLAY BETWEEN $360 MILLION
AND $380 MILLION,
WHICH INCLUDES CONTINGENCY
AND INFLATION. THE MAJORITY OF THESE COSTS
WOULD BE DUE IN 2021 AND 2022.
With these updated cost estimates in mind, Argonaut has a
financing plan in place that covers over $400 million in costs
through to 2022.
Abcourt's Sleeeping Giant Gold Mine -
is ready for milling and mining ,
the safety upgrades done -
The Sleeping Giant Mine
https://abcourt.com/wp-content/uploads/2017/06/mines-geant-dormant.jpg
http://abcourt.com/the-sleepy-giant-mine/
The Sleeping Giant Mine (gold)
The Elder Mine and Tagami Property
The Elder Gold Mine and Tagami Mine Property
is worth more than ABI's total market cap -
it's a bargain @ 10 x current market cap =
it is -
IMO!
The Elder mine and Tagami Property is conveniently
located 10 kilometres northwest of the mining community
of Rouyn-Noranda, Quebec, and is 100% owned by
Abcourt.
The Property comprises 36 contiguous claims, a
mining concession and two mining leases.
There are royalties of 2% to 3% NSR payable on different
parts of the Property.
Abcourt Mines Inc. V.ABI
Alternate Symbol(s): ABMBF
Ex.
ABI is undervalued and oversold and when
investors find the mines real values -
Bull hikes start with pennies/day and we will see 2-4 pennies/day but before increase to nickles/day for higher share price -
also it be no surprise to see quarters/day when the investors told their family and friends about the gold mines bargains they found,
Imo! smile)
Awaking a “Sleeping Giant” in Gold
Dave Jackson Dave Jackson, Stockhouse
1 Comment| 8 days ago
6
+ Favourites
Click to enlargeProfitable and producing. Two words that are music to any junior mining investor. In too many real life early-stage mining stories, the company simply can’t generate enough revenue – either publicly or privately – to sustain the costs drilling and exploration. Mineral exploration, especially diamond drilling, is expensive and time-consuming business. Thus, underfunded or ill-managed exploration companies are almost always doomed to failure.
That’s where lean, mean, and experienced mining operators like Abcourt Mines Inc.(ABI) (TSX-V.ABI, OTCMKTS: ABMBF, Forum) come into play. Founded in 1971, ABI is an established junior mining company with excellent operating potential for gold, silver, and zinc in the historically prolific, safe, and mining-friendly Abitibi, Quebec region.
Currently, the Company is focussed on gold exploration and production. At the Elder Mine, Abcourt says its objective is to increase production to 12,500 tonnes per month of gold mineralization.
Among the Company’s many assets – all located in Abitibi – are:
an operating gold mine advantageously located in the mining community of Rouyn-Noranda
a processing plant with a capacity of 750 tonnes per day
an advanced project for zinc and silver mining
plus, a large portfolio of exploration properties.
A second gold mine at their Sleeping Giant Property will be
commencing production in Q4 2020.
Needless to say, Abcourt Mines is a busy mining operation and
is just nearing scale.
In 2016, Abcourt acquired the Sleeping Giant mine and mill –
located approximately half-way between Amos and Matagami,
in Abitibi, Quebec – in the territory covered by
the Plan Nord of the Quebec government.
Click to enlarge with a new tab
Sleeping Giant mine and mill, Abitibi, Quebec. Image courtesy Abcourt Mines Inc.
In August 2019, an 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 high grade
of 12.20 g/t of gold and probable reserves total 475,625 tonnes
with a high grade of 11.85 g/t of gold. Inferred resources are in 93,100 tonnes, also with a high 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 8.07 million 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 2.07 million tonnes with a grade of 114.16 g/t of silver and 2.89% zinc.
The Elder Mine and Tagami Property
Conveniently located 10 kilometres northwest of the mining
community of Rouyn-Noranda, the Elder Mine and Tagami Property is and is 100% owned by Abcourt.
The cash producing property comprises 36 contiguous claims,
a mining concession, and two mining leases.
There are royalties of 2% to 3% NSR payable on different parts
of the property.
Click to enlarge with a new tab
Elder Mine and Tagami Property. The surface plant includes an office, a service building, a hoist room and a shaft building. The mine is serviced to a depth of 794 meters (2,606 feet) by two shafts and several drifts on 16 levels. All mining equipment and required facilities are in place. Image courtesy Abcourt Mines Inc.
Click to enlarge with a new tab
(Image courtesy Abcourt Mines Inc. Click to enlarge)
In the News
As previously mentioned, on August 27th, Abcourt Mines
announced 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 $5 million has been invested in this project
and the Company was able to do that with
the Elder mine cash flow.
The Company says it is “very proud to have realized this project
without contracting any debt.”
The Company also recently posted “good results” for
the Q4 and the 12-month period ending on June 30, 2020.
And as indicated in the stock chart below, share value has
more than doubled since mid-June.
Metals & mining investors, both retail and institutional,
know a good thing when they see it and with gold hovering
in the USD$2000 p/oz range at press time,
Abcourt Mines is clearly offering up real value and opportunity
in a red hot gold market.
For more information regarding Abcourt Mines Inc.,
please visit the company online
at
abcourt.com
Update on the Preparation Work for
the Opening of The Sleeping Giant Gold
Mine
https://www.youtube.com/watch?time_continue=5&v=RDZQoQ61RrY&feature=emb_logo
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
bigone GFY, I find no public info about it?
Is it a insider family meeting?
Gold Wave Forecast – Is Gold Going To $3750 Or Higher?
December 5, 2020
Chris Vermeulen
Technical Analyst, Trader, & Founder of Technical Traders Ltd
https://www.gold-eagle.com/article/gold-wave-forecast-%E2%80%93-gold-going-3750-or-higher
Jim Sinclair – Debt Jubilees Everywhere True Gold Price Is $87,500 Per Ounce -
bigone' on 'Abcourt Mines Inc. (ABMBF)'
RE:
Do you have the capability to be connected to the Abcourt ZOOM presentation Monday 6 P M Eastern?
No, do you? I also miss it!
Sprott money
interesting, my money is on the Russians
buying, something
is coming
and j dont think it going to be good.
The Israelis twaated a nuclear scientist, it was that or the scientist had
the worst luck with that vindoloo curry...
https://m.soundcloud.com/sprottmoney/sprott-money-news-weekly-wrap-up-112720
https://abcourt.com/miningproperties/
To know more about Abcourt Mines Inc. (TSXV:ABI), please visit our web site at
http://www.abcourt.com
Gold & Silver bulls starting to break out > ^ > ^ > ^
Abcourt Mines Inc. Sleeping Giant Gold Mine - First pour!
Ex....
Just called Dany, he said first pour might take a bit because of
the way it is mined but that excavation is starting.
They can get about 40% of the material at first because they
need to mine vertically.
This quarter only few hundred ounces are planned.
The great production is set to be for next summer.
In the mean time they will move to have better months than
the preceding one
by OMPAR2016 @ sth
https://stockhouse.com/companies/bullboard/v.abi/abcourt-mines-inc?postid=31726224
Have a great weekend )
God Bless
Dr. King Schultz welcome to Abcourt Mines Inc. (ABMBF)
the ABMBF Au bull just started to hike back UP )
it has great mines restarting production )
UPDATE ON THE PREPARATION WORK FOR THE OPENING OF THE
SLEEPING GIANT MINE
_________________________________________________________________
Rouyn-Noranda, Québec, Canada, August 27, 2020
https://abcourt.com/wp-content/uploads/2020/08/PR2020-08-27.pdf
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.
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 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.
4
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: rhinse@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Dany.Cenac-Robert@ReseauProMarket.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.
Jim Sinclair – Debt Jubilees Everywhere True Gold Price Is $87,500 Per Ounce -
UPDATE ON THE PREPARATION WORK FOR THE OPENING OF THE
SLEEPING GIANT MINE
_________________________________________________________________
Rouyn-Noranda, Québec, Canada, August 27, 2020
https://abcourt.com/wp-content/uploads/2020/08/PR2020-08-27.pdf
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.
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 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.
4
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: rhinse@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Dany.Cenac-Robert@ReseauProMarket.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.
Jim Sinclair – Debt Jubilees Everywhere True Gold Price Is $87,500 Per Ounce -
whytestocks welcome to Abcourt Mines Inc. (ABMBF) )
following mark #74 to you -
thanks for good info )
News: $ABMBF In May 2020, 10,010 Tonnes of Gold Mineralization Were Broken
at the Elder Mine, the Best Result for the 12-Month Period Ended
on June 30, 2020
(via TheNewswire) Rouyn-Noranda, Quebec, Canada - TheNewswire -
July 31, 2020 - Abcourt Mines Inc. (TSXV:ABI ) , (OTC:ABMBF),
( Berlin:AML-BE ), and ( Frankfurt Stock Exchanges:AML-FF) (" Abcourt "
or the " Mines Abcourt inc.), is pleased to announc...
Got this from ABMBF - In May 2020, 10,010 Tonnes of Gold Mineralization
Were Broken at the Elder Mine, the Best Result for the 12-Month Period
Ended on June 30, 2020
https://marketwirenews.com/news-releases/in-may-2020-10-010-tonnes-of-gold-mineralization-wer-6031928826125785.html?i=ib
Great new interview On Silver And Gold with Bill Holter
Talk about Bullish .......?
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with the new “Mr. Gold” Bill Holter of JSMineset.com.
https://stockhouse.com/companies/bullboard?symbol=v.abi&postid=31317508
post of rpm11 on july 24th
Wow!! This is going in the right direction
Close to 40 people took their Friday night with big sun outside to be present in the business overview! This is about 4 time the amount of people in the regular AGM 
What we learned!
At this price they don’t need financing to restart the giant and are on track to make gold out of it by end of September
They plan on giving back to shareholders by Dividend and Stock buy back as soon as the money permit it. It was said around june of next year because now they are in preproduction year for the giant and spend money on speeding it so we can profit from high price of gold.
They have a team and are planning for succession. They will hire more people with the extra cash to work with Hinse and eventually be able to replace him.
They will make more promotion and make more on the English side
They will have all the staff they need because Kirkland lake closed 2 mines and return Quebec’s worker home so there is no staffing problem to be expected
They have no debt and already have 4 M$ in government hand for rehab of Sleeping giant making more assets.
They can easily double production with Sleeping Giant
Elder is getting ritcher the deeper its get and they are about to hit silidor fault and mouilleuse fault. They plan that in 2 year Elder will be producing 25K ounces as oppose to the 15 now.
There is no bid but they are aware that bigger player are looking at them.
To me this all means LOAD UP!!!!
Good luck with you investments guys the train is leaving the station.
Wow!! This is going in the right direction!
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