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File: Results for the first quarter.pdf
FOR IMMEDIATE RELEASE
TSX Venture ABI.V
December 7, 2018
ABCOURT MINES REPORTS EXCELLENT RESULTS FOR THE
FIRST QUARTER ENDED ON SEPTEMBER 30, 2018
ELDER MINE DELIVERS A NET PROFIT OF $ 970,982
_______________________________________________________
Rouyn-Noranda, Quebec, Canada, December 7, 2018
Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges:
AML-FF) ("Abcourt" or the "Company is reporting very good operating and financial
results for the first quarter ended on September 30, 2018 compared to those of
September 30, 2017.
First quarter financial highlights
3 months 3 months
Description Sept. 30, 2018 Sept. 30, 2017
$ $
Sales of gold and silver 5,319,433 3,716,814
Cost of sales 4,115,943 3, 854,083
Gross Profit 1,203,490 (137,269)
Charges 124,541 136,046
Other income 28,283 13,496
Profit (loss) before income taxes 1, 107,232 (259,819)
Income taxes and deferred taxes 136,250 14,000
Net income (loss) and comprehensive income (loss) 970,982 (273,819)
Net income (loss) per share 0.00 (0.00)
Production highlights for the first quarter terminated on September 30, 2018,
compared to the same quarter of 2017.
3 months 3 months
Description Sept. 30, 2018 Sept. 30, 2017
$ $
Tonnes treated 20,746 19,932
Tonnes extracted 19,932 19,941
Gold ounces produced 3,191 2,284
Gold ounces sold 3,347 2,755
Gold recovery 97.66% 96,75%
Total gold jnventory 1,667 ounces 1,628 ounces
1,114 1,297
Cash production cost ($/ounce) ($US 853) ($US 1,039)
1,378 2,024
All inclusive production cost ($/ounce) ($US 1,056) ($US 1,621)
Comments:
Substantial improvements, increase of 43.1% in sales and reduction of 31.9% in all
inclusive cost of production.
dot Tonnes treated dot +4%
dot Gold ounces produced dot + 21,5 %
dot Proceeds from sale of gold and silver dot + 43,1 %
dot Average cash cost of production dot - 14,1 %
dot All inclusive production cost dot - 31,9 %
dot $ 970,982 in 2018
dot Net profit (net loss) dot $ (273,819) in 2017
dot $ 948 661 in 2018
dot Cash flow from operations dot $ 857 202 in 2017
dot $ 2.5 M in 2018
dot Cash at the end dot $ 1.1 M in 2017
dot $ 150,000 in 2018
dot Mining Taxes dot $ 25,000 in 2017
Please refer to the NON-GAAP performance measures contained in the Annual Management's
Discussion & Analysis
Abcourt has two gold assets of quality, Elder and Sleeping Giant mines and several
other properties with important gold mineralization. In zinc, there is the Abcourt-
Barvue project with substantial zinc and silver resources and the following satellite
properties: Vendome, Jonpol and Aldermac.
A surface drilling program is currently being done.
STRAGERY AND OUTLOOK
Currently, the Company is focussing on stabilizing and increasing the Elder
production. Our objective is to produce 12,500 tonnes per month.
We wish to rise the full capacity of the Sleeping Giant mill by treating custom ore, to
reduce the operating cost per tonnes treated.
For the long-term growth 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 resources (2014). A feasibility study was
completed in 2007 by Roche / Genivar. An update is being prepared now.
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.
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
F: 819 768-5475
Email: rhinse@abcourt.com
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.
File: Results for the first quarter.doc
FOR IMMEDIATE RELEASE
TSX Venture - ABI.V
December 7, 2018
ABCOURT MINES REPORTS EXCELLENT RESULTS FOR THE
FIRST QUARTER ENDED ON SEPTEMBER 30, 2018
ELDER MINE DELIVERS A NET PROFIT OF $ 970,982
_______________________________________________________
Rouyn-Noranda, Quebec, Canada, December 7, 2018
Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt" or the "Company is re
--->porting very good operating and financial results for the first quarter ended on September 30, 2018 compared to those
--->of September 30, 2017.
First quarter financial highlights
Description
3 months
Sept. 30, 2018
$
3 months
Sept. 30, 2017
$
Sales of gold and silver
5,319,433
3,716,814
Cost of sales
4,115,943
3, 854,083
Gross Profit
1,203,490
(137,269)
Charges
124,541
136,046
Other income
28,283
13,496
Profit (loss) before income taxes
1, 107,232
(259,819)
Income taxes and deferred taxes
136,250
14,000
Net income (loss) and comprehensive income (loss)
970,982
(273,819)
Net income (loss) per share
0.00
(0.00)
Production highlights for the first quarter terminated on September 30, 2018,
compared to the same quarter of 2017.
Description
3 months
Sept. 30, 2018
$
3 months
Sept. 30, 2017
$
Tonnes treated
20,746
19,932
Tonnes extracted
19,932
19,941
Gold ounces produced
3,191
2,284
Gold ounces sold
3,347
2,755
Gold recovery
97.66%
96,75%
Total gold jnventory
1,667 ounces
1,628 ounces
Cash production cost ($/ounce)
1,114
($US 853)
1,297
($US 1,039)
All inclusive production cost ($/ounce)
1,378
($US 1,056)
2,024
($US 1,621)
Comments:
Substantial improvements, increase of 43.1% in sales and reduction of 31.9% in all inclusive cost of production.
Tonnes treated
+ 4 %
Gold ounces produced
+ 21,5 %
Proceeds from sale of gold and silver
+ 43,1 %
Average cash cost of production
- 14,1 %
All inclusive production cost
- 31,9 %
Net profit (net loss)
$ 970,982 in 2018
$ (273,819) in 2017
Cash flow from operations
$ 948 661 in 2018
$ 857 202 in 2017
Cash at the end
$ 2.5 M in 2018
$ 1.1 M in 2017
Mining Taxes
$ 150,000 in 2018
$ 25,000 in 2017
Please refer to the NON-GAAP performance measures contained in the Annual Management's Discussion & Analysis
Abcourt has two gold assets of quality, Elder and Sleeping Giant mines and several other properties with important gol
--->d mineralization. In zinc, there is the Abcourt-Barvue project with substantial zinc and silver resources and the fol
--->lowing satellite properties: Vendome, Jonpol and Aldermac.
A surface drilling program is currently being done.
STRAGERY AND OUTLOOK
Currently, the Company is focussing on stabilizing and increasing the Elder production. Our objective is to produce 1
--->2,500 tonnes per month.
We wish to rise the full capacity of the Sleeping Giant mill by treating custom ore, to reduce the operating cost per
--->tonnes treated.
For the long-term growth in the gold sector, the Company has started a drilling program on the Discovery and Flordin g
--->old 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 nort
--->hwestern 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 resources (2014). A feasibility study was completed in 2007 by Roche / Gen
--->ivar. An update is being prepared now.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Qu
--->ebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity of 700 to 750 tonne
--->s per day. A NI 43-101 resource estimate was recently filed.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filing
--->s 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 "Qual
--->ified 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 rel
--->ease, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressi
--->ons, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statem
--->ents. 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, futur
--->e events or otherwise.
The factors that could cause actual results to differ materially from those indicated in such forward-looking statemen
--->ts include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and u
--->nforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as unce
--->rtainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt' annua
--->l 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
F: 819 768-5475
Email: rhinse@abcourt.com
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.
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