Abcourt Mines Inc V.ABI

defending Mr Hinse positions.

[fbedard29]

Anybody can be for or against Mr Hinse actions or decisions.
I am inclined to be for Mr Hinse actions even if i think everything could have gone faster in the last few years.
One has to realize that Mr Hinse has gone throught mines closing(Elder, Barvue) and maybe more in 199x .
He had to manage and keep the mining concessions.
He had to keep drilling on some properties to keep the mining rights.
He had to pay taxes and all other expenses without any revenues.
Most would have quit and gone into default.
He ended up keeping the co afloat by small  private placements
Yes he ended up with shares that nobody else wanted.
And when the gold price and silver price rose +- 2010 he had to make a decision.
I was at the AGM in those days and the discussions were always what do we concentrate our efforts on.
Barvue seemed the better option but the funds needed were much bigger than what was needed for Elder.
I never felt at the time that Mr Hinse was pushing for Elder because of the NSR( i did not know at the time that he had a 2% NSR). 
There were at the time Bank representatives from not certain BN or BL hoping for Mr Hinse to go all in with a large public financing.
When they realized that he wouldn't go all in they stopped coming th the AGM.

The only option left was to continue private placement and that was when Mr Mestrallet  got involved and Abcourt had  enought to start Elder.

With a few years of small production at Elder the opportunity to buy Sleeping Giant mine for peanuts we now have a processing mill and a mine close to production.

Result of all the past experience we have Mr Hinse still involved and still in a position to control the speed of develeopement.
 
Now that the revenu is present i think we will be in a position to move much faster and we can now  see Barvue as the next producing mine because the funding will be easier to obtain.
Now waiting for all the contrary vues or opinions.
Fernand


  
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[bazbuz]

              Fbedard,      Abcourt shareholders have all contributed to the financial support that allowed OMH to acquire/ develope all these properties...Now picture us 10,000 Abcourt shareholders,together  with OMH, pushing a heavy globe up hill for 99% of the climb.And the only way to have the force to complete the climb  is by 

[fbedard29]

Hi bazbuz . How have you contributed to the financial support. None of the shareholders have contributed to the financial support by buying shares of Abcourt on the stockmarket  and not supporting management. Those that have contributed to the financial support are those that have put money directly in the company by participating in the private financing and all those that have supported

[bazbuz]

So when OMH issues  Abcourt shares that I then purchase,   Is that not considered a form of financial support...We have been  the lever that helped him launch his empire that only he benefits from...

[fbedard29]

Ok now i will stop posting because a few beers might  influence my post. But who would you like to follow on stockhouse. A poster that stands to make $2m if the price of Abcourt goes to $0.25 or a poster that stand to make  $1k if the price stays at $0.09 because short selling. Fernand

[bazbuz]

A fact is a fact...I am not a shorter!!!

[PILGRIM]

Hi Fernand I would have been happy to invest in Abcourt ithrough a private placement but I was never informed in time. This is why I patiently accumulated shares by buying them on the stockmarket. To raise a substantial amount of money, Abcourt would need to raise funds on the market.

[fbedard29]

Hi PILGRIM It was probably as good to buy on the stockmarket because i have not made any money by buying in PP. Most warrants were not in the money when it came time to exercise. The only good that came from PP was flow throu shares that give a good taxe return. Fernand 

[flexy99]

Excellent post Fernand! Thank you for standing up for Mr. Hinse. As far as I'm concerned this man has performed miracles to keep Abcourt going all these years while increasing value in the process. Take care everyone John.