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Last C$0.04 CAD
Change Today 0.00 / 0.00%
Volume 197.5K
As of 3:55 PM 06/29/15 All times are local (Market data is delayed by at least 15 minutes).

abcourt mines inc -cl b (ABI) Snapshot

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abcourt mines inc -cl b (ABI) Details

Abcourt Mines Inc. engages in the acquisition, exploration, and development of mining properties in Canada. It explores for gold, silver, copper, and zinc ores. The company owns 100% interests in the Elder-Tagami mine with 34 contiguous claims and a mining concession covering an area of 876 hectares located near Rouyn-Noranda, Quebec; the Abcourt-Barvue property with 139 claims and 2 mining concessions covering 5,865 hectares located to the north of the mining community of Val-d’Or, Quebec; and the Vendome property with 59 claims covering 2,546 hectares located to the north of Val-d’Or, Quebec. It exploration projects include the Aldermac property that covers 303 hectares located in Beauchastel township near Rouyn-Noranda, Quebec; the Jonpol property covering 880 hectares located in the Dalquier township near Amos, Quebec, Canada; and the Vezza property with 85 claims and 19 cells covering 2,233 hectares located in Vezza township, Quebec. The company is headquartered in Mont-St-Hilaire, Canada.

abcourt mines inc -cl b (ABI) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

abcourt mines inc -cl b (ABI) Key Developments

Abcourt Mines In Talks To Acquire Beacon Mill

Abcourt Mines Inc. (TSXV:ABI) is looking for acquisition. Abcourt Mines is planning to acquire Beacon mill in Quebec. Abcourt estimates that acquisition of Beacon will cost $3.5 million upfront plus an estimated $2 million in refurbishments.

Abcourt Mines Inc. Signs an Indicative Term Sheet Aimed at Acquiring the Processing Plant and the Beacon Mine

Abcourt Mines Inc. announced the signing of an indicative Term Sheet outlining the general terms and conditions for the acquisition of the processing plant and the Beacon mine located close to the town of Val d'Or, Quebec. The Property will be acquired from 9265-9911 Québec Inc. (the 'Vendor'). The purchase price of the Property is $3.5 million subject to an upfront cash payment of $0.5 million followed by six payments of $0.5 million starting on the 30th month after closing of the Transaction. The Transaction will be subject to a Vendor's interest holiday over the first 24 months. Thereafter, the deferred payments will be subject to an annual 10% interest rate payable every six months starting on the 30 month after closing of the Transaction. The purchase of the Beacon mill represents a major step in the development of Abcourt. A Roche Ltd. Consulting Group study performed in 2014, evaluates the closing and rehabilitation cost of the Beacon site at $2.4 million. The Vendor agrees to disburse the first payment of $1.2 million to the Ministry of Energy and Natural Resources of Quebec (MENRQ) in Abcourt' name within 90 days of the payment being due. This amount is also granted an interest holiday of 24 months after which the residual amount owed to the Vendor will bear an annual interest of 10% and will be reimbursed by Abcourt to the Vendor through six equal installments of $0.2 million each starting on the 30th month after closing of the Transaction. The Transaction closing date is on April 30, 2015, at the latest. The Transaction is subject to the approval of the TSX.

Abcourt Mines Inc. Announces Drilling Update on Abcourt Properties, in Abitibi, Quebec

Abcourt Mines Inc. announced that a 1,500-meter surface diamond drilling program is starting immediately on the Abcourt properties, in Abitibi, Quebec. The drilling will start at the eastern end of the Barvue property at Barraute. The first hole will check a 1.04-meter gold intersection grading 36.34 grams per tonne, at a depth of about 130 meters below surface, in hole B86-06, drilled in the past. The second hole will be drilled at depth in the main silver-zinc zone to upgrade some inferred resources into indicated resources. The third hole will be drilled on the Aldermac property to check a non-assayed massive sulphide zone intersected by an underground hole drilled by former owners. Lastly, three holes will be drilled on the Elder property. One hole will be drilled at depth, in the western part of the mine, slightly above the 9th level and two holes will be drilled near surface, in an area where good values were found in 2013. Mine development at the Elder gold mine goes well. A main cross-cut on the 6th level has now reached old drifts. These old drifts are being rehabilitated and extended.


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