BEST GOLD STOCK, ABCOURT MINES INC.POTENTIAL TITAN IN MINING.
If you still don’t believe that the Abcourt mines Inc. is a good gold stock investment. I hope this changes your mind. I'll share with you some reports of the profit that Abcourt made last year.
ABCOURT REPORTS A PROFIT of $236,614 FOR ITS SECOND QUARTER
March 15, 2019 Abcourt Mines Inc. filed, on February 28 last, its quarterly financial statements and the management’s discussion and analysis for the second quarter ended on December 31, 2018. All amounts are in Canadian dollars unless otherwise indicated.
Here’s the Highlights:
▪Sales of gold and silver of $6.04 M or 3,673 ounces of gold and other revenues of $942,943.
▪Net profit of $236,614, or $0,00 per share compared to $784,748,or$0,00, last year.
▪Available cash of $3.09M compared to $2.53 M on June 30,2018.
▪Update of NI 43-101 resources for the Elder mine and Tagami property and update of the preliminary economic study prepared by Roche Consulting-Group in 2012.
▪The preliminary economic study prepared by Roche Consulting-Group is no longer considered current and has been superseded by the updated mineral resource estimate. In addition,“mineral resources that are not also mineral reserves do not have demonstrated economic viability”.
▪Hiring of an investor relations firm in December 2018.
▪Update of the Abcourt-Barvue feasibility study which is summarized as follows:
Prices of metals and exchange rate used
zinc $1.10 $US / lb
silver$15.00$ US / lb
exchange rate$1.00 $ US = $1.25Can
▪Proven and probable mineral reserves= 8.07 million tonnes @51.8 g/tsilver and 2.83% zinc
▪Cash flow before taxes $170.0 M
▪Cash flow after taxes $106.7 M
▪Net present value after taxes discounted at 5% $41,0M
▪Project after-tax payback discounted at 8% 5.3 years
▪Life of mine 13 years
And mind you in 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Province of Quebec. And the mill has a capacity to treat 700 to 750 tonnes per day. Measured mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and indicated resources total 475,625 tonnes with a grade of 11.20 g/t of gold. Inferred resources are 93,100 tonnes with a grade of 11.85 g/t of gold. A NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services Inc.
The Abcourt-Barvue property has silver-zinc reserves (2019). A feasibility study was completed in 2007 by Roche / Genivar. An update was completed in July 2019 by PRB Mining Services Inc. A total of 8.07M tonnes are in proven and probable reserves with a grade of 51.79 g/t of silver and 2.83% zinc. About 81.6% of these reserves are mineable by open pit and 18.4% are mineable by underground operations. Inferred resources total 2.07M tonnes with a grade of 114.16 g/t of silver and 2.89% zinc.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at
www.abcourt.com and consult our filings under Abcourt's profile on
www.sedar.com.
If that still didn’t convince you that Abcourt Mines Inc. is a good stock then follow my profile, I’ll post more news regarding Abcourt Mines Inc. in the future.
picture of one of the mines of Abcourt the Sleeping Giant mine.
