Post by
fbedard29 on Dec 13, 2021 12:44pm
Posters concerns and support to ABI.
A small resume of concerns and lack of support or support to ABI.
Most posters are posting their oppinions on assets,NSR, Hinse family control.
As for assets all seems to agree that the assets are great and are worth much more than the Mcap is now and are holding on in hope of future increase in value and concerned of selling just when there could be a turnaround.
As to NSR many are concerned and questionning the legality of the purchase and that leads to the third point Hinse family control.
As to the NSR many have expressed the oppinion that all actions by Mr Hinse were taken to profit from the NSR by chosing to open Elder before Barvue.
10-15 years ago at the AGM the question was what is the best solution(Open Elder with very little funding needed or try to go all in and open Barvue that needed $20-$30m).
Some posters are saying that all Elder revenues is paid to to MR hinse family co.
My understanding is that Mr Hinse family co is receiving 2% NSR and the remaining revenu is deposited into Abcourt bank account.
If the NSR had not been obtained by Mr Hinse it would still have to be paid to the previous owner and the final result would still be that the net earning would be the same.
Maybe Mr Hinse had to mortgage his family home to acquire the NSR .
Maybe Abcourt could not afford to acquire the NSR .
One quote that i remember from Mr Hinse 10-15 years ago was that before 2000 there were hundreds of co listed and a few years later here was only 6 or 7 still remaining and Abcourt was one of them.
Third point Hinse family control.
Bear with me for a few minutes.
If there hadn't been a Hinse family control 10-15 years back , there wouln't be a Abcourt Mines co today.
Yes those shareholders from 10 years ago could have lost all.
But since Abcourt still exist and we all had great expectation that the value of assets we kept holding and buying more.at a cheaper price.
For me my cost average price has gone down from 2010 to 2021and my return is 0% today..
Abcourt Mcap went from $20 to $26m from 2012 to 2021 and now has a new mine opening and a mill and also (Flordin,Discovery) assets.
Most have concerns about Hinse family control but none of us has come up with a solution or suggestion.
Yes some changes might be needed.
I have more faith in Mr Hinse to protect Abcourt holdings than any other, due to his 50 years involvement and will do anything to protect his life work.
Fernand
Comment by
bazbuz on Dec 13, 2021 2:19pm
fbdard why are the royalties just paid to the Family and not to all share holders who helped finance their mining empire...The word Share seems to be missing from their vocabulary...