ABI – ABCOURT REPORTS A PROFIT of $236,614 FOR ITS SECOND QUARTER
Rouyn-Noranda, Québec, Canada, March 15, 2019
Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)
(“Abcourt” or the “Mines Abcourt inc.) has 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.
▪ 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 $3.09 M 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▪ The preliminary economic study prepared by Roche Consulting-Group is no longer considered current and has been superseded by the updated mineral resource estimate.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
▪ Hiring of investor relations firm in December 2018.
▪ Update of the Abcourt-Barvue feasibility study which is summarized as follows :
Non-GAAP Financial Performance Measures
This press release presents certain financial performance measures, total cash costs per ounce
of gold produced, sustaining costs and all-in sustaining costs per ounce of gold produced which
are non-International Financial Reporting Standards (IFRS) performances measures. This data
may not be comparable to data presented by other gold producers. Non-GAAP financial
performance measures should be considered together with other data prepared in accordance
The cash costs and all-in sustaining costs are common performance measures in the gold
mining industry. The Company reports cash cost per ounce based on ounces produced. Cash
cost include operating mining costs, royalties but is exclusive of amortization and depletion and
sustaining capital expenditures. The all-in sustaining costs include costs of sales and sustaining
capital expenditures and administrative costs but excludes amortization and depletion and
accretion expenses. The Company believes that the all-in sustaining costs present a complete
picture of the Company’s operating performance or its ability to generate free cash flows from its
STRATEGY AND OUTLOOK
Currently, the Company is focussing on stabilizing and increasing the Elder production. Our
objective is to produce 12,500 tonnes per month of gold mineralization.
We wish to use the full capacity of the Sleeping Giant mill by treating custom ore, to reduce the
operating cost per tonne treated.
For the long-term, in the gold sector, the Company has started a drilling program on the
Discovery and Flordin gold properties where substantial gold mineralization is found.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically
located properties in northwestern Quebec, Canada. The Elder property has gold resources
(2018) and a positive P.E.A. study (2012). Abcourt is focusing on the exploitation of the Elder mine.
The Abcourt-Barvue property has silver–zinc reserves (2019). A feasibility study was completed
in 2007 by Roche / Genivar. An update was completed in January 2019.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos
and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec
government. The mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource
estimate was recently filed. Some custom milling is now being done.
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.
This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt
Mines Inc. Mr. Hinse is a “Qualified Persons” under the terms of Regulation 43-101. Mr. Hinse
has approved the scientific and technical disclosure.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that include risks and uncertainties.
When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”,
“believe”, “hope”, “may” and similar expressions, as well as “will”, “shall” and other indications of
future tense, are intended to identify forward-looking statements. The forward-looking
statements are based on current expectations and apply only as of the date on which they are
made. Except as may be required by law, the Corporation undertakes no obligation and
disclaims any responsibility to publicly update or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise.
The factors that could cause actual results to differ materially from those indicated in such
forward-looking statements include changes in the prevailing price of gold, the Canadian-United
States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that
could affect revenue and production costs. Other factors such as uncertainties regarding
government regulations could also affect the results. Other risks may be set out in Abcourt’
annual and periodic reports. The forward-looking information contained herein is made as of the
date of this news release.
For more information, please contact:
Renaud Hinse, President and CEO
T : 819 768-2857 450 446-5511
F : 819 768-5475 450 446-3550
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.