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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 tanninon Aug 09, 2022 5:08pm
182 Views
Post# 34882991

RE:Yesterdays Zoom

RE:Yesterdays ZoomFBedard, my friend, does not Renaud's 'few millions' to get SG into full production, suggest a continuation of the past, underfinancing/underproducing. I have the greatest respect for Renaud, and would suggest that, first, he said that 3 yrs back, that 'few million' ( 2,3, 4 ?) is likely 5,6 now, second, it was a guesstimate not an estimate, and finally, things have changed in last 3 years, gold prices up, labour shortages, tech, inability of Elder to generate sufficient $$. etc......Renaud, imo, is on board with raising the funds to unlock the value of the assets he's so successfully acquired.
We have a functioning 750 ton mill; only one in the area. Our BoD's suggest, spend the $10-15 million reqd to fill that mill to capacity, initially aiming for 30k ozs yr, then ramping up to 80kozs as we get our various assets on line ( see earlier zoom ). Profit per oz from SG should be $1000 give or take....high grade, no transport. And PRO has assets that fit perfectly with that objective, both near term and longer term.
We may well need to add mill capacity as we progress, such are the assets we have ( earlier zoom ).
I look forward to seeing a financing package that balances risk/reward for us shareholders...the sooner we move forward, the better imo.
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