Abcourt Mines Inc. (ABMBF)

[NYBob]

Abcourt Reports an Adjusted Net Profit of $1M and a Net Profit of $87K for the Second Quarter 2020
V.ABI |
(via TheNewswire)
Rouyn-Noranda,Quebec,Canada -
TheNewswire - March 11, 2020 -


Abcourt Mines Inc. (TSXV:ABI), (Berlin:AML-BE) and (Frankfurt Stock
Exchanges:AML-FF) ("Abcourt" or the"Mines Abcourt inc.) reprts its
results today for the second quarter ended December 31, 2019.
All amounts are in Canadian dollars unless otherwise indicated.

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

Highlights :

- Second quarter revenues of $6.9 M from the sale of 3,524 ounces of
gold. A drop of 4 % over the second quarter ended December 31, 2018.

- The average realized price of gold sold was C$1,949 per ounce.

- Net profit in the second quarter of $87K, compared to $237K in 2018.

- Adjusted net profit of $1M compared to $746K in 2018.

- Cash of $3.7M, an increase of 32 % over 2018.

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

Recent developments:

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

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

- Work started to reopen the Sleeping Giant mine.

Comparative table of results for the second quarter ended on
December 31, 2019 and 2018

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This is a monthly chart, last time the RSI moved above 70 -
as its doing now, it went from $350 to $1900 over 8 years....

Could it happen again?



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— Clarkii Stomias (@ClarkiiStomias) March 6, 2020

All the mines that have been developed, around those mines,
in Abitibi for example, there’s a lot of potential,”
Guilbault told Kitco News on the sidelines of
the Xplor Mining Convention in Montreal.

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