2020 First Quarterly Report The expected results are now available. In spite of the recent low gold grades extracted and treated, the company is still breaking even. Cash on hand, remains the same as last quarter. The income generated from the sale of gold is the same as the all-in sustaining costs of producing it. That is the bad news. Still, Abcourt MInes remains an on going concern. But presently, it is a marginally profitable operation.
https://abcourt.com/wp-content/uploads/2019/11/PR2019-11-29.pdf The good news is that the value of the gold mineralization broken in the stopes remains at the same value as last quarter. I suspect that the value of the new high grade gold vein, recently discovered and mined, will be added to the second quarter's results. The first quarter ends at the end of September. That leaves the last two months of extraction, in October and November, to add value to next quarter's broken muck. How long does it take to extract 39 meters of 13.24 g/t gold one meter in width? Also, this vein may be expanding in grade and size with depth. If so, it should be easy to follow, all the way to its original fault.
As Abcourt continues to focus on Elder, it is essential to find this high grade source. If the funds are not presently available to drill towards that discovery, then it makes sense to simply mine it, all the way there!
All the best! Java