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Abcourt Mines Inc V.ABI

Alternate Symbol(s):  ABMBF

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.


TSXV:ABI - Post by User

Bullboard Posts
Comment by jmm1228on Apr 27, 2017 8:42am
205 Views
Post# 26172810

RE:RE:the no news company

RE:RE:the no news companyGood thouoghts Jameske, thanks.

My acccumulation of ABI began about 18 months ago when the market cap was around $7 million. My expectation was that the cap should rise to around $50 million given that the prospect was that Elder woud produce about 20 thousand ounces /year. Despite all the optimistic projections that has never occured and at the same time the ore quality has weakened.

Around all this operational weakenss the stock tripled in price, much of the increase coming after the Sleeping Giant opportunity surfaced.

The potential it added factored into my thinking and based on the probable increase in yearly gold output to 40 million ounces caused me to raise my market cap target to 100/150 if the gold price stayed around $12-1300 US.

Factoring in the Barvue asset I figured that longer term the M/C could easily reach $250/300, contingent on ABI being able to add to basket of reserves it appeared to have on the properties owned.

I have connected friends in Quebec who supported my reasoning.

Then, a series of missed projections began occuring - I won't list them. The background into which this was occuring was compounded by the totally insensitive manner in which the company communicates with shareholders and the investing public. Add to this the constant dilution involving only insiders, the royalty deal and a weak market for metals stocks in general and you have no further upward momentum happening in the stock price.

So, having more than doubled my sizeable investment in ABI I, like a multitude of others, am hugely disappointed, by this but by the inability of the senior management of this company to come to grips with this huge disconnect.

We have now arrived at the "moment critique" in the achievment of goals. The Q1 results will be out in a month. Prospects for Q2 will hopefully be definitive. Given these we'll know if there is a chance that ABI will post earnings for the year which are near or equal to the present market cap.

I know that's hard to  believe but it's possible IF the grades mentioned earlier for Elder are put into play and the operational performance reaches that we've been told will be achieved.

I'm baffled but hopeful.

.....and so it goes.






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