Abcourt Mines Inc V.ABI

Alternate Symbol(s): ABMBF

Metals & Mining Gold

Abcourt Mines Inc. is a Canadian gold exploration company with properties located in northwestern Quebec, Canada. The Company owns the Sleeping Giant mine and mill, where it focuses its development activities. The Sleeping Giant 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 approximately 458 hectares and 69 mining claims. The Elder mine and the Tagami property are located 10 kilometers (km) northwest of the mining community of Rouyn-Noranda in Quebec. The properties include over 36 contiguous claims, one mining concession and two mining leases. The Abcourt-Barvue property is located 12 km north of Barraute, 60 km north of the mining community of Val-d’Or, Quebec. It covers over 4,755 hectares with 103 claims and two mining concessions. Its properties also include Flordin, Pershing-Manitou, Vendome, Aldermac, Jonpol and other properties.

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Abcourt Mines Inc

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Comment by fbedard29on Oct 29, 2016 3:08pm

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Post# 25402104

RE:Sedar Filing

Very confused with the annual report md&a . Profit of +- $1,563,167 for the year but it all seems to come from the last quarter.
Elder has been considered in production since jan 1 2016. My understanding is that in the future all oz produced from Elder +- 15-20000 oz sold at +- $1260 per oz - cost of $879 us should be considered a profit . $371 x 1.31 for canadian money = $ 500.00ca per oz. If 15k oz x $500ca should deliver a gross profit of $7,500,000 per year.

Do not know if the royalties of $461k paid this year to owner of 2% royalty (management) can be bought out or if not a priority at this time..
Couldn't find in sedar any mention of the 2% royalty and conditions.

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