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Last $0.03 USD
Change Today +0.0072 / 32.73%
Volume 44.0K
As of 8:10 PM 10/6/15 All times are local (Market data is delayed by at least 15 minutes).

abcourt mines inc -cl b (ABMBF) Snapshot

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10/21/14 - $0.06
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abcourt mines inc -cl b (ABMBF) 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 (ABMBF) Top Compensated Officers

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

abcourt mines inc -cl b (ABMBF) Key Developments

Abcourt Mines Inc. Signs Formal Custom Milling Agreement with Richmont Mines Inc

Abcourt Mines Inc. announced that a formal agreement for the custom milling of the Elder gold mineralized material has been signed with Usine Camflo Inc, on July 13 last and the milling of a 10,500-tonne batch was started on the same date. This agreement is for a six-month period, from July to December 2015, and it is renewable. Abcourt is committed to deliver a minimum of 10,000 tonnes of gold mineralized material per month to the Camflo mill.

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.


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