Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) is pleased to announce that in collaboration with Purves Redmond Limited and a Canadian Insurance Company, the establishment of a Surety Facility(“Facility”) with respect to its Sleeping Giant and Elder environmental bonds totaling C$5,867,786. The Facility requires the Company to provide a Letter of Credit secured by cash collateral of C$2,933,893 and pay an annual fee.
The Facility allows Abcourt to withdraw funds of C$5.9 million from the Ministry of Natural Resources and results in a net improvement to Abcourt’s cash position of C$2,9M. This additional financial flexibility will be beneficial in the short term while Abcourt begins to sell gold to the market from the processing of mineralized materials from Pershing-Manitou deposit in the Sleeping Giant mill.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian gold exploration company with properties strategically located in northwestern Quebec, Canada. Abcourt 100% owns the Sleeping Giant mill and mine where it concentrates its activities. The Sleeping Giant mine has a mining lease, as well as environmental certificates of authorization to extract up to 750 tonnes per day from its underground mine.
For further information, please visit our website at www.abcourt.ca and consult our filings under Abcourt's profile on www.sedarplus.ca, or contact:
Pascal Hamelin President and CEO T: (819) 768-2857 E: phamelin@abcourt.com Dany Cenac Robert, Investor Relations Reseau ProMarket Inc., T: (514) 722-2276, post 456 E: dany.cenac-robert@reseaupromarket.com Cautionary Statement on Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based ---- The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the 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 news release.
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19,000 ounces Produced, 15000 ounces Sold Imagine what this mine will do when fully tuned to capacity ..
tdate, the flotation plant has produced over 16,000 tonnes of concentrates at a grade of 37 grams per tonne gold.
( 16,000 tons times 1.2 ounces per ton = 19,000 ounces valued at $45 m in CAD
Shipments have been made to three separate buyers, and negotiations continue with several potential new customers.
To date, over 12,500 tonnes of concentrate have been delivered to Johor and Port Klang free zones.
( 12500 tons times 1.2 ounces per ton = 15,000 ounces worth $37 million in CAD
Export permits have been renewed with the relevant state authorities as required
. Transport of the latest delivery of 3,500 wet metric tonnes to Port Klang free zone has been completed with vessel to depart in mid-January, 2024.
( 3500 tons times 1.2 ounces per ton = 4200 ounces worth $11 m cad
Sale of a further 3,000 tonnes of concentrate currently available has been finalized, and shipment preparation of the concentrate to the port is in progre
3000 tons times 1.2 ounces per ton = 3600 ounces worth $9 milliin cad
Add it all up.
We are coming along a bit slower than expected but we are well into robust cash flows and increasing our cash balance by nozzpackon Jan 19, 2024
$Murchison Historical Resources The Murchison portfolio contained historical resources of - 644koz at the time of acquisitions. Monument is systematically performing all the necessary work to convert and validate these historical resources into current resources under NI43-101 guidelines. A breakdown of the historical resources is detailed in the table below
NI 43-101-Indicated Resources 293 koz Au NI 43-101-Inferred Resources 88 koz Au Historical Resources** 644 koz Au
Poland signs arms deal with Sweden - Warsaw has agreed to buy thousands of anti-tank grenade launchers from Saab, continuing its ramp-up in military spending
In This Article: MMTMF +11.23% $Monument Mining Monument Mining Monument Mining
$Revenue of US$11.00 Million and Cash Cost of US$894/Oz
VANCOUVER, British Columbia, March 01, 2024 (GLOBE NEWSWIRE) -- $Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its second quarter of fiscal 2024 production and financial results for the three and six months ended December 31, 2023. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results).
Stock Screener: Ep. 390: $Monument Mining (MMY.V): Q2 Fiscal 2024 Earnings Albert S 6.9K
19,000 ounces Produced, 15000 ounces Sold Imagine what this mine will do when fully tuned to capacity ..
tdate, the flotation plant has produced over 16,000 tonnes of concentrates at a grade of 37 grams per tonne gold.
( 16,000 tons times 1.2 ounces per ton = 19,000 ounces valued at $45 m in CAD
Shipments have been made to three separate buyers, and negotiations continue with several potential new customers.
To date, over 12,500 tonnes of concentrate have been delivered to Johor and Port Klang free zones.
( 12500 tons times 1.2 ounces per ton = 15,000 ounces worth $37 million in CAD
Export permits have been renewed with the relevant state authorities as required
. Transport of the latest delivery of 3,500 wet metric tonnes to Port Klang free zone has been completed with vessel to depart in mid-January, 2024.
( 3500 tons times 1.2 ounces per ton = 4200 ounces worth $11 m cad
Sale of a further 3,000 tonnes of concentrate currently available has been finalized, and shipment preparation of the concentrate to the port is in progre
3000 tons times 1.2 ounces per ton = 3600 ounces worth $9 milliin cad
Add it all up.
We are coming along a bit slower than expected but we are well into robust cash flows and increasing our cash balance by nozzpackon Jan 19, 2024
$Murchison Historical Resources The Murchison portfolio contained historical resources of - 644koz at the time of acquisitions. Monument is systematically performing all the necessary work to convert and validate these historical resources into current resources under NI43-101 guidelines. A breakdown of the historical resources is detailed in the table below
NI 43-101-Indicated Resources 293 koz Au NI 43-101-Inferred Resources 88 koz Au Historical Resources** 644 koz Au