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Bullboard - Stock Discussion Forum Abcourt Mines Inc. V.ABI

Alternate Symbol(s):  ABMBF

Abcourt Mines Inc is a gold producer and Canadian exploration company. It is engaged in the acquisition, exploration, evaluation, and exploitation of mining properties. The company's operating segment include Mining site in production; Prospection and development and Corporate. It generates maximum revenue from the Mining site in production segment.

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Abcourt Mines Inc. > Yesterdays Zoom
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Yesterdays Zoom

fbedard29 (306) | August 05, 2022 09:22 pm

Hi 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



  

 

RE:Yesterdays Zoom

SilverNS (74) | August 07, 2022 01:11 pm

Personally myself i would agree to sell Abcourt Barvue as the asset has no current value on the SP.  If they were to get 25m, the could really ramp up SG, Discovery and Courville Property.


RE:RE:Yesterdays Zoom

fbedard29 (306) | August 07, 2022 02:18 pm

Yes SilverNs selling Barvue for $25m might be a good deal for Abcourt but if the $25m serves to pay salaries and stock compensations and after a year there is no money left and Sg is still not in production we as shareholders will have lost 50% of our value and gained nothing.

Fernand

RE:RE:RE:Yesterdays Zoom

SilverNS (74) | August 07, 2022 02:26 pm

You are correct - but selling Abcourt Barvue and giving all a small dividend and then putting all the cash back into the assets and you will have a much high SP.

RE:RE:RE:RE:Yesterdays Zoom

fbedard29 (306) | August 07, 2022 02:37 pm

Forget any dividend if money comes into Abcourt treasury it will never be distributed to shareholders.
The only way we as shareholders get anything is if the selling of Barvue includes shares from the acquiring co and distributed directly to shareholders.
Fernand  

RE:RE:RE:RE:Yesterdays Zoom

fbedard29 (306) | August 07, 2022 02:47 pm

There will not be a higher stock price unless the price of gold increases by $500 and when Sg is in production.
Nobody now will believe that Sg can be in production at a small cost and in a short time.
Mr Hamelin said it needs $10-15m to restart possibly in 18m.
The 18 month was mentionned in 2018 also .
Why should we believe that this time it will be different.
Fernand

  

RE:RE:RE:RE:RE:Yesterdays Zoom

SilverNS (74) | August 07, 2022 03:20 pm

Gold and Silver will increase substantially - but might take another 6 months - the whole financial system is broken and broke - all this manipulation that has taken place for ever will soon come to an end.


RE:Yesterdays Zoom

tannin (359) | August 09, 2022 02:11 pm

Rethink. Answer we need - best way to raise ( $10-15 mill ) to be a 'real' mining co.- it's doable, and necessary. Elder problem was low grades/long haul, not nsr

RE:Yesterdays Zoom

tannin (359) | August 09, 2022 02:24 pm

Previous zoom - mining 'blind' at SG-ie 'following the vein'. That's nuts. Either we use mod.tech to exploit our assets, or we sell to others who will. Pascal is right. Some dilution together with reasonable nsr/debt, and let's get moving....either we're in business or not.

RE:Yesterdays Zoom

tannin (359) | August 09, 2022 05:08 pm

FBedard, my friend, does not Renaud's 'few millions' to get SG into full production, suggest a continuation of the past, underfinancing/underproducing. I have the greatest respect for Renaud, and would suggest that, first, he said that 3 yrs back, that 'few million' ( 2,3, 4 ?) is likely 5,6 now, second, it was a guesstimate not an estimate, and finally, things have changed in last 3 years, gold prices up, labour shortages, tech, inability of Elder to generate sufficient $$. etc......Renaud, imo, is on board with raising the funds to unlock the value of the assets he's so successfully acquired.
We have a functioning 750 ton mill; only one in the area. Our BoD's suggest, spend the $10-15 million reqd to fill that mill to capacity, initially aiming for 30k ozs yr, then ramping up to 80kozs as we get our various assets on line ( see earlier zoom ). Profit per oz from SG should be $1000 give or take....high grade, no transport. And PRO has assets that fit perfectly with that objective, both near term and longer term.
We may well need to add mill capacity as we progress, such are the assets we have ( earlier zoom ).
I look forward to seeing a financing package that balances risk/reward for us shareholders...the sooner we move forward, the better imo.

RE:RE:Yesterdays Zoom

fbedard29 (306) | August 09, 2022 06:11 pm

Hi Mr Tannin my friend as you seem to suggest.
Sg Mill is a 750 per day x +- 300 day  = +- 225t per year. At 7.5 gr per ton = 56k oz maximun.

Yes Sg could produce that much oz but could also produce much less at 4-5 gr per ton or even less if Sg accept milling at 2-3 gr per ton or even less if from open pit..
So the result could be anywhere between 10k oz and 56k oz per year.
If we process from Sg or Pershimex (if the merger goes ok) we could make a profit of $1000 an oz.

But if we have to process mineral from other co we would only make a few hundred $ a ton before 
expenses and we would be filling our waste storage area fast .
So the solution is not to process other co mineral but to process our own co mineral .
Fernand