Abcourt Mines Inc. (ABMBF)

[NYBob]

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 [e-mail] 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: [e-mail]

Dany Cenac Robert, Investor Relations

Reseau ProMarket Inc.,

T: [phone] x456

[e-mail]

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 > ^ > ^ > ^

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