10 Year Gold Chart Gold had a good move up today. Some shareholders of the larger miners may have noticed some upward movement in their share price. Abcourt's share price has done nothing yet. But that may be about to change.
Once gold breaks strongly through the $1500 US barrier once again, we will know that the recent consolidation in the price of gold is over. A $1600++ gold price will be a bullish signal for Abcourt's share price. We may not have to wait too long, if the upward momentum, appears to be swift. Anticipation of future profit often drives any company's share price higher prior to the main event.
Looking at the 10 year gold chart, two striking similarities grabbed my attention. On that chart, the one year period between December of 2009 and December of 2010 looks remarkably similar to the more recent period between December of 2018 and December of 2019. In the former time frame, a strong upward breakout occurred shortly after. Technically, in comparison, it might appear that a similar trend is developing in the latter time frame as well. This has very positive implications! This is a significantly bullish association. It means that a one year move to $2000++ gold is now about to begin!
https://www.kitco.com/charts/popup/au3650nyb.html Abcourt's next earnings release may be similar to the last one. It was disappointing. The present share price obviously reflects that. However, this picture is not written in stone. We may get some pleasant surprises.
There is no doubt that the company will focus a lot of their attention towards extracting the high grade ore from the newly discovered high grade vein at Elder (est. guess@ -+10,000 tons known to be associated with 13.24g/t gold). (Sleeping Giant grades are already known to be similar and 43-101 compliant, averaging 12g/t gold)
https://abcourt.com/wp-content/uploads/2019/11/PR2019-11-25.pdf That Elder vein may cut through several levels and may become a substantial amount. Ore from that newly discovered vein may have a significant impact on the company's gold revenue. A higher gold price will help even more.
With the Sleeping Giant mine slated for opening (unofficially) this Summer or Fall, extra cash on hand, may help hasten that event.
This company has tremendous proven gold mines, containing high grade ore. And all of Abcourt's properties are structurally associated with the Cadillac fault (notable for its high grade gold).
Also, Abcourt-Barvue is a former silver/zinc mine, slated for later re-opening.
And the precious and base metal commodities are about to rebound in their pricing.
Even though the recent pull back in Abcourt's share price has been discouraging for the company's shareholders, it is important to realize that there are a lot of good possibilities for this company.
Gold and base metal prices will likely move sharply higher, this very year!
All Abcourt mines should perform well. Like the Sleeping Giant mine, the Elder mine is known to contain high grade gold. The Sleeping Giant mine is unofficially slated for opening this Summer/Fall. The Abcourt-Barvue mine, the silver/zinc producer should re-open, a couple of years later.
As we all know, time passes quickly!
All the best! Java