Abcourt Mines Inc V.ABI

Good time to analyze ABI management

[fbedard29]

Hi posters. I have been reading both for and against managements comments.
Don't put me in front of a firing squad for my writing.
Some are for promoting outside (independant directors) and some are for Hinse familydirectors.

Mr Hinse has managed Abcourt like the company was his own since 1979 like his son Normand.
starting in 1986..
He never took more compensation than he had to( no salary but only compensation for his
geologist and professionnal advice when the company could afford to pay him).

Mr Hinse has raised money in private placement in the last 10 years at a price very close to actual open market value and only enough to survive for the next year.
The warrants that came with the private placement were almost never exercised due to high exercise price..

One comment on this board was that no directors own shares except Mr Hinse .
Yes it is true that nobody else owned shares except Normand Hinse that aquired some in the last few years and Mr Mestrallet that aquired his in a private placement .
Mr Hinse aquired almost all of his shares with his own money and i would advance also that it was not money made by issuing himself options and warrants at a cheap price.
I have participated in 5 or 6 private placements in Abcourt for a total value of more than $1m
and only once on my smallest placement did i have the option to exercise the warrants and made $7k.
No others on the  board of directors own any amount of shared because Mr Hinse never give away options at a cheap price.
If board members wanted shares they had to aquire them like Mr Hinse , Mestrallet  and myself at market value.
This is the way a family company is managed.(don't give anything away let them earn their shares).

Now if you want Abcourt to be run by professionnal managers not related to Mr Hinse then please explain on this board how you would pay for the +- $1m in salary and also still pay the same amount of professionnal fee that was done by Mr Hinse.
Abcourt is not Apple , Microsoft, Kirkland Lake,Barrick and many other co .Abcourt is not a billion dollar co.

Yes a good promoter and salesman can double the share price in 6 months- 1 year) and manage like no tomorrow and lead us to  bankcruptcy the next year.
Speculators would do good for a while but the real shareholders would be left to pay the bill in the end . 
Yes going faster is desirable but too slow is better that too fast in the end.
Fernand

[jameske]

This is a straw man argument filled with errors by someone who sees Renaud Hinse, aged 94, as the now and future CEO of Abcourt Mines. Comparing Abcourt to Apple and Microsoft is laughable. They are not even in the same area of business. Comparing Abcourt with the major miners makes more sense, but only because they are miners. The comparison of scale is ludicrous. Abcourt is not even

[fbedard29]

Hi Jameske Yes comparing Abcourt to Apple,Microsoft and a few large miners was laughable, but my comparison was to highlight the fact that Abcourt can and will never be managed like a large mcap co. Let's stop comparing and trying to manage like a big co on stockhouse. Jameske can you look at previous financial statement (1996-2020) and let us know when you would have hired Ivan Bebek from

[petersburggray]

Fernand your comment only underscores the point i am making about abcourt, a public company, that is not run like a public company but rather like the personal property/fiefdom of hinse family members. If abi was private and renaud hired his family members for $300k per year no show jobs so as to save on taxes that is a personal decision. Such nepotism on pubic company is frowned upon which is why

[rpm111]

This post has been removed in accordance with Community Policy

[fbedard29]

Hi Peterburggry Nice to see that my previous post is starting to generate a discussion. First Mr Hinse did not hire family members for $300k with no show. As far as i know there is no salaries involved. Like RPM11 wrote as to unqualified person look at their CV. How do you know that Mr Hinse did not look at hiring outside persons. The annual meeting was not packed with related parties. The

[petersburggray]

Thanks Fernand for your reply. I appreciate your inside knowledge and apologize to you publicly if i might have offended you with my words in past, which was not my intent at all since i am simply blunt and plain spoken. Like you I am ABi shareholder and received no info from company whatsoever about issues to be voted on at annual meeting. Though i am not canadian i invest almost exclusively in

[fbedard29]

Thanks Peter also for your posts .No you have not offended me in anyway and my post was written to generate a two way discussion. As for salaries to Normand Hinse as CFO and his sister as secretary there was no salaries paid in 2020 because they were promoted only in march 2021.  Fernand