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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

Comment by Geckomeisteron Jul 01, 2021 6:40pm
230 Views
Post# 33480265

RE:Comments on previous post and concerns

RE:Comments on previous post and concerns

Check your inbox Fernand. 

I mostly agree with you, however I see the need for more radical transformation of the BOD to set it right and to reflect how healthy boards function in this industry. 

Upon the transfer of CEO, why should any Hinse family member remain on the BOD? They lack the qualifications, just as Mr. Mestrallet doesn't have them either. Good boards are comprised of top-notch mining industry professionals from both within and without the company. There are even CEOs of other mining companies on some of the best boards. Why not? The focus in mining is on operations, not competing for customers with other companies. A great board actually has present or retired CEOs of other mining companies on it. (Though they may focus on a different aspect, such as exploration, if they are a current CEO). 

The Hinse family has already accumulated a massive amount of shareholdings as well as the NSR on Elder. That is enough. There is no right to continue to have their fingers in the pie when it comes to daily operations if they don't have the qualifications. They can vote with their shares like the rest of us. This is not royalty or hereditary ownership! Public companies must be run in certain ways. Hopefully they are wise enough and just-minded enough to accept the obvious. When the company is run in the best way for it's own well-being, by professionals in all positions (including all board seats), then everyone benefits. 

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