RE:Mestrallet Excellent Choice as Chairman! The board of Abcourt Mines may be only a rubber stamp for the decisions of the company's CEO. So as long as the Chairman of the board only remains an honorary title and he receives no direct monetary compensation from the company, then perhaps any sitting board member might have fit the bill.
It does appear that all future board meetings will be virtual ones. Anyone who attends these meetings may choose to mute the volume of the speaker and just nod their head in approval.
Then the CEO can quickly get back to the business at hand.
Or perhaps a successful veterinarian's great business acumen may add significantly to Abcourt's longer term operating success. Mestrallet may become the company's new guiding light!
Has this board actually been helping direct the company's future direction in some significant way? Let each shareholder use their own due dilligence in determining the truthfulness of this kind of conjecture.
At least the board members appear to share similar viewpoints. There is no evidence of any rift or significant disagreement pertaining to the company's future direction.
Considering his age, the CEO, Renaud Hinse, needs to focus on some matters of significantly more importance than attending major shareholder meetings. For those of us, who are only minority shareholders, perhaps this is not a bad idea at all?
This company now needs to start making some real money! That is news that will drive the share price higher.
https://abcourt.com/wp-content/uploads/2021/10/PR.pdf If Hinse now is has decided to build a preliminary trail to the Tagami property, it means that he is making good preparations in the event that the Elder mine depletes it resource, much earlier than expected.
This would be a good insurance policy to buy from a shareholder's perspective. It also indicates that this man's mind is functioning well and he may still have, much more of value, yet to contribute.
The effort at the SG mine seems to be to focused on continuing to drill the upper regions of the Sleeping Giant mine. There, they may discover new and untapped ore bodies, just lying in the shadows that may have been ignored for years in the past.
But the main plan has been and remains, to develop and expand, whatever gold containing veins, they already know to exist.
It is encouraging to note that the company is actively pursuing the possibility of re-activating the Abcourt-Barvue mine. In the recent past, it was not certain that the CEO even considered this possibility an option worth pursuing.
It is encouraging to believe, once again, that Renaud Hinse may have again changed his mind on this issue. A greater sense of commitment to this important project will engender, much better, shareholder support!
As well, it is a matter of great importance that the company has decided that now, may be the best time, for an update of the 43-101 resource calculations of the company's Discovery, Flordin, and Cameron Shear properties.
This update is overdue and if the company now has the finances to pay for the necessary work, it will prove to be a most timely undertaking.
These properties should become extremely valuable additions to company's asset base once their viability as successful mining operations becomes a proven fact.
Today, these properties are given, no significant value, in terms of the price of our Abcourt shares.
This could dramatically change, once a current 43-101 has been produced and released to a much larger potential shareholder base.
My one caveat about the recent press release pertains to an increase of the cash costs of $1444 US per ounce of produced gold in 2021 compared to cash costs of $1228 US/ ounce in 2020. This represents an increase in costs of 12.5%.
But the AISC, which are not mentioned in this brief synopsis, would have been significantly higher.
This does needs to change!
However, there should be a dramatic improvement, once an active commercial mining operation, commences at the Sleeping Giant mine. There are no expensive transportation costs involved, when the available ore, only needs to be hoisted, up to the surface. The mill sits right there at the SG mine site.
Much of Abcourt's future depends upon each successful phase of this company's growth. Failure in any endeavor will not bode well for the company's future.
But, then this is not what most of Abcourt's present day shareholders really expect to happen.
Most shareholders, with the exception of the company's most recent sellers, still expect the best!
For most, it's just a matter of waiting!
As with any sound investment, it is wiser and more prudent to take profits rather than to sell at a loss. If the choice is to take a loss, why was the purchase made in the first place?
If the logic in selling was just to take a temporary tax loss, when will be the best time to buy back in?
As a seller, it is just something more to ponder!
For the rest of us who have chosen to hold or continue to buy, all the cards seem to be falling into their rightful place.
This still remains a game, well worth playing!
Now, is not the best time to fold!
All the best! Java