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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
Post by fbedard29on Nov 02, 2020 2:59pm
219 Views
Post# 31824031

Yamana aquisition of Monarch and Elder possibility

Yamana aquisition of Monarch and Elder possibilityI had a quick view of Yamana acquisition of Monarch (Wasamac and Camflo).
$152m minus spinnoff 20% = +- $120 m for Wasamac and mill at Camflo(1600tpd).
I would value Camflo mill at $20-30m.
That would leave a price of $90-100m for Wasamac mine.

Elder doesn't have much to compare to Wasamac.
Wasamac has +- 2.0m oz in all cathegories at 2.56gr per ton.
 It has also a plan to use a rail system to haul mineral from 800m to surface that would be less expensive than Elder vertical shaft.
.
Elder has +- 235k oz at +- 6.00gr but hasn't done any drilling to add oz .
Maybe Abcourt could spend a few $million to increase oz to +- 1m oz .

Wasamac would have to transport mineral to Camflo mill that is closer than Elder has to reach 
Sleeping Giant mill.

I can imagine Elder increasing the oz and then selling to Yamana for +- $ 30-50m .
That would provide Abcourt the necessary fund to put SG in full production and drill to increase  
the great   'Discovery and Flordin property. value.
And also put Abcourt Barvue in production.

Result of that would be to free management from spending all their time on Elder and concentrate on the properties that would immediately add a double or triple to Abcourt value.
Mr Hinse would continue to collect nsr and even increase if production increases.

Sleeping Giant mill ( if i remember right from a quote from Mr Hinse ) is expensive to start because motors are too big for a small 750tpd operation and from my deduction could be upgraded to a much bigger mill production.
The extra production could be used for Discovery and Flordin (after a concentrate is produced directly at Discovery site.)

Fernand

 



 
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