Abcourt Mines is a gold development and exploration company operating in Quebec, Canada. Its flagship development asset is the Sleeping Giant (SG) Mine and mill, and its main exploration project is Flordin. The Company holds multiple non-core assets, with Abcourt Mines being open to earn-in agreements, JVs, or property sales in order to streamline its portfolio.
The Sleeping Giant mine produced its first doré gold bar through Abcourt Mines in April 2024 by processing ore from a bulk sample. All the above-ground infrastructure is in place at the site, multiple underground working faces are ready for ore extraction to feed the processing plant, and all permits are in place. The team at Abcourt Mines is currently drilling for resource conversion, revamping the resource estimate and working towards a PFS to raise funding to put the mine into commercial production.
Investment Highlights
- Abcourt Mines (“ABI” or “Company”) is working toward putting the Sleeping Giant mine back into production. All critical infrastructure is in place and ready to operate, resource conversion drilling is underway, and project optimizations are in progress as the Company moves towards commercial gold production.
- Exploration upside at the Flordin project: ABI has drilled some very strong near-surface intercepts at the Cartwright zone on its Flordin property. Fantastic results were reported from FL-23-274, intercepting 3.5 g/t over 273 m close to surface. A 10,000 m drill program is planned on the project, from which we can expect steady news flow over the coming months.
- Continued support for the project: Management has a clearly formulated strategy in place to bring the Sleeping Giant mine back into production and drive the exploration effort on Flordin. The team’s ability to deliver on its plans in a prudent and cost-effective manner is key to maintaining support from long-term cornerstone investors.
- Supportive commodity price environment: ABI’s projects remain strongly leveraged to the price of gold, which is currently trading near all-time highs. The current price environment is a big boost for the project economics of the Sleeping Giant mine.
- We are maintaining a positive outlook for the Company over the next 12-month period with an improved target price of $0.17 from $0.13 earlier.
