Abcourt Mines Inc. (TSX-V: ABI) 750M lbs Zinc, 24M Oz Silver Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Abcourt Mines Inc. (TSX-V: ABI) 750M lbs Zinc, 24M Oz Silver

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Internship	12/5/2019 12:01:06 AM
	of 30

Abcourt just published their first 2020 quarter results :D read more abcourt report on 1st 2020 quarter on their official website ABCOURT REPORTS AN ADJUSTED NET PROFIT OF $900K FOR THE FIRST QUARTER 2020 _________________________________________________________________ Rouyn-Noranda, Québec, Canada, November 29, 2019 Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Mines Abcourt inc.) reports its results today for the first quarter ended September 30, 2019. All amounts are in Canadian dollars unless otherwise indicated. Highlights : • First quarter revenues of $ 7.2 M from the sale of 3,624 ounces of gold. An increase of 42 % over the first quarter ended September 30, 2018. One of the best quarters so far. • The average realized price of gold sold was $1,978 per ounce. • Net loss in the first quarter of $62K. The loss is mainly due to the lower grade of the tonnes of mineralization extracted and treated, to a significant increase of the amortization and depletion expenses and the non recognition of the inventory of the tonnes of gold mineralization broken in stopes in 2019 as compared to the first quarter ended September 30, 2018. • Adjusted net profit of $ 900K compared to $1.5M at September 30, 2018. • Cash of $ 2.7 M. • The Company has no long-term debt. It finances itself with its operating revenues. Recent developments: • Drilling programs planned for Elder and Sleeping Giant gold mines and on-going drilling program for Abcourt-Barvue silver-zinc project. • $ 728 000 recently raised by private placement for diamond drilling. • Work started to reopen the Sleeping Giant mine. We take advantage of the favorable gold price and the exchange rate of the Canadian/US dollars to move forward in our various projects and to increase the value of the company for the benefit of shareholders. Despite a decrease of the grade, the Elder mine is still profitable

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next