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Abcourt Mines Inc. V.ABI

Alternate Symbol(s):  ABMBF

Abcourt Mines Inc. is a Canada-based junior mining company. The Company is engaged in gold producer and exploration company with strategically located properties in northwestern Quebec, Canada. Its projects include The Sleeping Giant Mine, Discovery Properties, Flordin Property, The Elder Mine and The Tagami Property, Abcourt-Barvue Project, Vendome Property, Aldermac Property, Jonpol Property and Other Properties. The Sleeping Giant Mine property is located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. It comprises four mining leases covering an area of approximatively 458 hectares and 69 mining claims. The Discovery project has 166 claims with a total area of 4,166 hectares. The property is located about 30 km to the north-west of Lebel-sur-Quevillon, Quebec. The Flordin property is located approximately 25 km to the north of Lebel-sur-Quevillon, Quebec. It consists of 25 cells covering 976 hectares.


TSXV:ABI - Post by User

Post by fbedard29on Aug 05, 2022 9:22pm
313 Views
Post# 34875811

Yesterdays Zoom

Yesterdays ZoomHi I have attended yesterdays zoom meeting.
Here is my understanding of the meeting and resume.

I am very concerned that Mr Hamelin views is that Abcourt needs +$10- $15 m to bring Sleeping Giant to full production in 18 months and the options is to do PP or borrow or do an Nsr.
An NSR is what has destroid Elder  value.
Can Abcourt do the same mistake with SG..
The  prediction from Mr Hinse 3 years ago was that a few millions was needed to bring Sg to full production in 18 months.
What has changed.
Will we need a 50-75% dilution to meet Mr Hamelin views.

Mr Hamelin has a plan to dilute Abcourt by 18.5% by merging Pershimex with Abcourt.
No clear plan why and the reason why Abcourt shareholders had no voting right was that  it would cost  Abcourt a fee .
Why would we as a shareholders have no voting right due to the cost it would take to express our opinion but we as share holders would in the future have the voting right to express our opinion to a name change.
Makes no sense. 
Mr Hamelin view is that Abcourt will do anything to  advance Abcourt Sleeping Giant  project.

What does that mean.
Mr Hamelin said that everything is for sale.
Does that mean that all our assets are for sale at a very big discount.
Will Abcourt sell Discovery  or Flordin or Barvue to get a few thousands to get Sg into production.
I am very concerned that we as Abcourt shareholders will loose  most of our shareholders right to vote in any new proposition. 

There are many other concerns that i have realized but will not go into for now.

Fernand



  

 
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