Abcourt Mines Inc.

Abcourt Mines Inc. reports its results today for the second quarter ended December 31, 2020. All amounts are in Canadian dollars unless otherwise indicated. Highlights: Revenues of $8,360,700 for the second quarter ended December 31, 2020, the best to date. $ 7,5M cost of sales compared to $ 6,6M for the same quarter in the previous year. Net profit of $ 454,583 for the second quarter compared to $ 86,630 for the previous [...]

Abcourt Mines Inc. is pleased to announce it has accepted a financing proposal from the Royal Bank of Canada for a total amount of $6,500,000. This financing will be used to accelerate the development of the Sleeping Giant Mine. It is composed of a term loan of $5 million, repayable over a period of 5 years, at an annual interest rate of 2.99% for the first year. This loan will be secured by a movable hypothec on the [...]

Abcourt Mines Inc. is pleased to announce that all warrants issued in the private placement of 2018 have been exercised. Some were exercised earlier, in October 2020, others were exercised lately. In December 2020, 845,000 warrants were exercised and 845,000 common shares were issued for an amount of $ 84,500 received by the Corporation. In global, the Corporation issued a total of 1,000,000 common shares at a price of [...]

Abcourt Mines Inc. reports its results today for the first quarter of the financial year 2021. All amounts are in Canadian dollars unless otherwise indicated. Highlights: Revenues of $7,810,494 for the first quarter ended September 30, 2020, the best to date; Net profit of $1,055,638 for T1-2021 versus a net loss of $61,668 for T1-2020; - Adjusted net profit of $1,787,909 versus $890,187 for T1-2020; Costs of sales [...]

Abcourt Mines Inc. reports its results today for the first quarter ended September 30, 2020. All amounts are in Canadian dollars unless otherwise indicated. Highlights: Revenues of $7,810,494 for the first quarter ended September 30, 2020, the best to date. Adjusted net profit of $1,787,909 compared to $ 890,187 in Q-1, 2020 - Costs of sales reduced by about $420,296, that is 6%. Cash of $3,382,660. That is an increase of [...]

Abcourt Mines Inc. reports its results today for the fourth quarter and financial year ended on June 30, 2020. All amounts are in Canadian dollars unless otherwise indicated. Highlights: - Revenues of $24 057 233 for fiscal 2020. - Gross profit of $ 1 940 767. Net profit of $358,856 - Adjusted net profit of $4,259,151 - Costs of sales reduced by $3,1M or 12.4 % - Gold inventory of $2,544,974, that is 1,400 ounces - Cash [...]

Abcourt Mines Inc. reports its results today for the fourth quarter and fiscal year ended on June 30, 2020. All amounts are in Canadian dollars unless otherwise indicated. Highlights: Revenues of $ 24,0 M for fiscal 2020. Net profit of $ 1,008,856 - Adjusted net profit of $ 4,259,151 - Cash costs reduced by $ 3,1M or 12.4% - Gold inventory of $2,544,974 - Cash cost of $1,636 Can/oz, $US 1,228/oz of gold - Ounces produced [...]

Abcourt Mines Inc. is pleased to announce that it has received explosive permits for the Sleeping Giant mine. We have received permits for two underground explosive magasines. We will also make sure that all our employees working underground who receive, manipulate and use explosives will have an individual explosive permit. A three-day mine rescue session will take place from October 13 to October 15 for our employees [...]

Abcourt Mines Inc. is pleased to announce that almost all holders of warrants issued in the private placement of 2019 have exercised their share purchase warrants. The Corporation has issued 1,335,960 common shares at a price of $0.13 per share and 1,744,000 common shares at a price of $0.16 per share, for a total subscription amount of $448,815. The proceeds from the subscription of the shares issued upon exercise of the [...]

Abcourt Mines Inc. reports a mistake in the indication of the classification of the resources of the Sleeping Giant mine in its press releases issued since August 2019, under the section "ABOUT ABCOURT MINES INC." The last sentence of this section should read as follows: "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 [...]