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
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 -
$Abcourt with an Active Mine in Abitibi and a Zoom Meeting Soon Bob Moriarty Archives May 27, 2021
I had a Canadian junior contact me a year or so back wanting to be an advertiser. I looked into the company and intended to write about them but I kept running into stumbling blocks. To me clearly they have something worth owning but frankly the website confused me. They are no longer an advertiser but they have a zoom meeting coming up in a few days with Renau Hinse their CEO and investors can ask any questions they may have.
Topic: ABCOURT's Zoom Meeting Time: May 31, 2021 06:00 PM Eastern Time (US and Canada)
Meeting ID: 819 6936 9614 One tap mobile +16465588656,,81969369614# US (New York) +16699009128,,81969369614# US (San Jose)
Dial by your location +1 646 558 8656 US (New York) +1 669 900 9128 US (San Jose) +1 253 215 8782 US (Tacoma) +1 301 715 8592 US (Washington DC) +1 312 626 6799 US (Chicago) +1 346 248 7799 US (Houston) Meeting ID: 819 6936 9614 Find your local number: https://us02web.zoom.us/u/kJnHCcjBs
$Currently they are in production at the Elder Gold mine albeit tiny with only 13,000 ounces of gold produced in 2020.
$Abcourt also has the Sleeping Giant gold mine with a mill that can process 700-750 tonnes per day with a 210,000 gold 43-101 resource.
The project that caught my eye and the reason I think they could be a real sleeper is the Abcourt-Barvue silver/zinc mine with a 43-101 resource of 22 million ounces of silver and 675 million pounds of zinc.
That’s a billion dollars of rock in the ground and it seems to me it should be worth something.
Clearly the website was designed by a geo. It is filled with numbers that I am sure are accurate but it doesn’t c o municate well.
Listening to the Zoom call and asking good questions could be quite rewarding.
Abcourt is not an advertiser and I don’t own shares. Do your own due diligence.
If you look at Elder only, The cost per ton including administratives fees is 230$ in the presentation.
Should they get 4 g/t it is about 1610Cad$ or 1280 US$
The reason why cost are high is that they are developing Sleeping Giant.
They always had reasonable cost until they start to open the giant again.
Now $1280 us is at 4 gram tons. But the last pr with results from feb 2021 leave a much better grade and thus a lower price.
The Giant has 12 g/t material so you need the third of material for same profit. :-))
At 230 per ton it is 575 CAD$ per ounces of gold or 459US$
So yes I do strongly believe cost are just about to go significantly down.
for 3 reasons
1- Better grade at Elder
2- No more spending in development at Sleeping Giant paid by Elder but a profitable operation at both mine
3-Sleeping giant Has 3 time better grade and cost should be really lower.
For all those reason I think we still need a bit of suffering for the Giant to be done in a couple of month but every press release numbers seems to be better and I am very confident they will get amazingly better with the Giant. by rpm111
Abcourt eng. is often very conservative on every estimate, imo!
Let's move on :-))
$usmcgy01 thanks; Record Revenue; Best to Date” from Emerging Abitibi Gold Producer Dave Jackson Dave Jackson, Stockhouse 5 Comment
1 + Favorites When Stockhouse Editorial last caught up Quebec-based $Abcourt Mines Inc.(ABI) (TSX-V.ABI, OTCMKTS: ABMBF, Forum), our investor audience got a firsthand look at the awakening of a “Sleeping Giant” in gold exploration.
Fast-forward to today, and the company’s mining operations are now very wide awake and ready for growth at multiple sites.
Founded in 1971, Abcourt Mines, is an established and emerging gold producer with two gold mines, one zinc-silver mine, several gold and zinc projects in its current portfolio.
The junior mining company offers excellent operating potential for gold, silver, and zinc in the historically prolific, stable, and mining- friendly Abitibi, Quebec region.
Abcourt is currently focusing on the exploitation of its Elder mine and on the development of the aforementioned Sleeping Giant mine.
Its gold-producing asset is the Elder Mine.
The company has a processing plant with a capacity of 750 tonnes per day.
The mine is equipped with functional buildings plus all of the surface and underground equipment with a 2,600-ft shaft (793 metres) and 16 levels.
The project is currently producing 15,000 to 18,000 ounces of gold per year.
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