Abcourt Announces its Results for the First Quarter Ended September 30, 2024
2024年11月22日 - 6:30AM
Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI)
(OTCQB : ABMBF) announces its results for the
first quarter ended September 30, 2024. All monetary values in this
press release are expressed in Canadian dollars, unless otherwise
indicated. Financial statements and management discussion and
analysis are available on SEDAR+.
Highlights for the Quarter ended
September 30, 2024
Exploration:
- Exploration work totaling
$2,603,486 for the quarter, mainly consisting of prospecting and
evaluation expenses incurred on the Sleeping Giant property for the
underground drilling campaign for an amount of approximately
$2,386,014.
- During the quarter, the Corporation
completed 1,127 metres of definition and exploration drilling at
the Sleeping Giant mine on the 4 upper levels, in order to refine
the geological model on these levels and to support engineering
planning towards a pre-feasibility economic study. From December 1,
2023 to September 30, 2024, the Corporation completed 4,270 metres
of definition and exploration drilling at Sleeping Giant.
- Highlights of the results obtained
during the drilling campaign on the Sleeping Giant property in the
20 West Zone area on the 235 level during the quarter are as
follows:
- 125.67 g/t Au over 0.5 metre in hole 23-489.
- 46.08 g/t Au over 1 metre in hole 23-485
- During the quarter, sales of
approximately 189 ounces of gold at an average realized price of
$3,181 (US$2,322) per ounce. Gold sales were from gold recovery on
the Sleeping Giant property and the residual from the 5,000 tonne
bulk sample from the Courville property (Pershing Manitou).
- During the quarter, the Corporation
carried out stripping work on the Flordin property in the
Cartwright area. Stripping work on 3 zones exposed the high-grade
gold mineralized zone, and subsequently over 200 metres in
distance, during a second round of stripping at the end of the
quarter, and channel sampling of the newly exposed mineralized
zone. The work completed during the quarter, and the results
obtained from drilling in November 2023, support the Corporation's
assumption that the high-grade gold mineralization associated with
pyrite bands would be continuous over more than 2 km between the
Cartwright deposit and the South Zone discovered by Cambior in
1988.
- On June 17, 2024, the Corporation
entered into an option agreement with Québec Lafleur Minerals Inc.
("LaFleur") under which Abcourt granted LaFleur the right to
acquire a 100% interest in 141 mining claims held by the
Corporation and covering approximately 5,579 hectares. The optioned
property includes portions of the Courville and Abcourt Barvue
projects, namely the Jolin (Courville) and Bartec (Abcourt-Barvue)
sectors and contiguous to the Swanson property.
- On July 8, 2024, LaFleur elected to
accelerate the exercise of the remaining conditions of the option
agreement by proceeding with the payment by the issuance of shares
of its share capital for a total amount of $1,500,000, allowing it
to acquire the remaining 75% interest in the property. LaFleur
issued 4,299,211 shares to Abcourt at a deemed price of $0.3489 per
share. The amount of $1,500,000 was recognized in net income in
exploration and evaluation expenses under the heading disposal of a
property.
Financial:
- On July 24, 2024, the Corporation
closed a non-brokered private placement of 112,500,000 units at a
price of $0.04 per unit for total gross proceeds of
$4,500,000.
- Net loss of $1,839,901, or a loss
per share of $0.00, compared to a net loss of $2,449,243, or a loss
per share of $0.01, for the same period in 2023.
- As at September 30, 2024, negative
working capital of $2,358,485, compared to negative working capital
of $4,947,411 as at June 30, 2024. During the quarter, Abcourt
improved it's working capital by $2,588,926.
Corporate:
- On August 1st, 2024, the
Corporation granted a total of 3,500,000 stock options to a
director and certain employees of the Corporation.
- The private placement closed on
July 24, 2024 resulted in the creation of a new controlling
shareholder (as such term is defined in the policies of the TSX
Venture Exchange) due to the issuance of 100,000,000 units to
Noureddine Mokaddem, for a total consideration of $4,000,000. The
latter participated in the private placement in order to support
the short- and medium-term growth of the Corporation. He intends to
hold his securities for investment purposes and may, depending on
certain circumstances, including market conditions, increase or
decrease his beneficial ownership of or control over the common
shares, Warrants or other securities of the Corporation.
- On July 24, 2024, Noureddine
Mokkadem was appointed director of the Corporation. Mr. Mokaddem is
a mining engineer with approximately 40 years of professional
experience in Africa and North America. He has successfully led all
the stages of the implementation of several projects, ranging from
feasibility studies to the start-up of production units of
different sizes.
- On July 24, 2024, Daniel Adam
resigned as director of the Corporation, to leave a vacancy for Mr.
Mokaddem.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian gold
exploration company with properties strategically located in
northwestern Quebec, Canada. Abcourt owns the 100% owned Sleeping
Giant Mine and Mill, where it focuses its operations. The Sleeping
Giant Mine has a mining lease and environmental certificates of
authorization to extract up to 800 tonnes per day from its
underground mine.
For more information about Abcourt Mines Inc.,
please visit our website and view our filings under Abcourt's
profile on www.sedarplus.ca.
Pascal
HamelinPresident and Chief Executive
OfficerT : (819) 768-2857Email:
phamelin@abcourt.com |
Dany
Cenac Robert, Investor RelationsReseau ProMarket
Inc.,T : (514) 722-2276, ext. 456Email:
dany.cenac-robert@reseaupromarket.com |
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FORWARD-LOOKING STATEMENTS
Certain information contained in this news
release may constitute "forward-looking information" within the
meaning of Canadian securities legislation. Generally,
forward-looking information can be identified by forward-looking
terminology, such as "plans", "aims", "expects", "projects",
"intends", "anticipates", "estimates", "could", "should", "likely",
or variations of these words and phrases or statements specifying
that certain acts, events or results "may", "would", "would",
"would", "would", "would", "occur" or "be achieved" or other
expressions Similar. Forward-looking statements are based on
Abcourt's estimates and are subject to known and unknown risks,
uncertainties and other factors that may cause Abcourt's actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements or information. Forward-looking
statements are subject to business, economic and uncertainties and
other factors that could cause actual results to differ materially
from these forward-looking statements, including the relevant
assumptions and risk factors set out in Abcourt's public filings,
are available on SEDAR+ at www.sedarplus.ca. There can be no
assurance that these statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and
forward-looking information. Although Abcourt believes that the
assumptions and factors used in preparing forward-looking
statements are reasonable, undue reliance should not be placed on
such statements. Except as required by applicable securities laws,
Abcourt disclaims any intention or obligation to update or revise
any of these forward-looking statements or information, whether as
a result of new information, future events or otherwise.
Neither the 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.
Abcourt Mines (TSXV:ABI)
過去 株価チャート
から 11 2024 まで 12 2024
Abcourt Mines (TSXV:ABI)
過去 株価チャート
から 12 2023 まで 12 2024