Business
Abcourt Announces Good Results for the Third Quarter Ended on March 31, 2017
(via TheNewswire) Mont-St-Hilaire, Quebec, Canada / TheNewswire / June 5 ...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Announces Good Results for the Third Quarter Ended on March 31, 2017(via TheNewswire)\n\n \nMont-St-Hilaire, Quebec, Canada / TheNewswire / June 5, 2017 - Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (\"Abcourt\" or the \"Company\") announces good results for the third quarter ended on March 31, 2017. Management is pleased to announce that the Sleeping Giant mill treated all the gold mineralization extracted from the Elder mine during the third quarter and the gold recovery was 96.1%. The Company generated, in the third quarter, revenues from the sale of gold totalling $4.2M. The average price received for gold sold was Can$1,627 (US$1,231) per ounce. \n\n\n \nGold inventories increased from $1,538,216 to $2,795,711. A substantial part of this gold was sold early in April 2017.\n\n\n \nA net profit of $186,215 was made, compared to a loss of $925,934 in the previous quarter. Accounts payable were reduced by almost $1M, from $5,296,546 in December 2016 to $4,256,261 in March 2017. Very liquid assets (inventories, receivable taxes and cash) are sufficient to cover short term liabilities.\n\n \n \nSummary of important figures concerning operating and financial results for the third quarter compared to the second quarter:\n\n \n\nDescription\n\n\n\n\n3 months at\n\n\n\nMarch 31, 2017\n\n\n\n\n3 months at\n\n\n\nDecember 31, 2016\n\n\n\n\nTonnes treated\n\n\n\n\n25,424\n\n\n\n\n30,738\n\n\n\n\nTonnes broken in stopes\n\n\n\n\n27,581\n\n\n\n\n18,842\n\n\n\n\nExtracted tonnes \n\n\n\n\n27,479\n\n\n\n\n22,507\n\n\n\n\nGold ounces produced\n\n\n\n\n3,703 \n\n\n\n\n3,566\n\n\n\n\nGold recovery\n\n\n\n\n96.1 %\n\n\n\n\n95.2%\n\n\n\n\nRevenues from the sale of gold, silver and others\n\n\n\n\n$ 4,253,722\n\n\n\n\n$6,185,233\n\n\n\n\nPrice of gold, per ounce\n\n\n\n\nCAN$ 1,627\n\n\n\nUS$ 1,231\n\n\n\n\nCAN$ 1,734\n\n\n\nUS$ 1,302\n\n\n\n\nAverage cash costs ($ / ounce)\n\n\n\n\nCAN$ 1,367/on\n\n\n\nUS$ 1,034/on \n\n\n\n\nCAN$ 1,358/on\n\n\n\nUS$ 1,020/on\n\n\n\n\nSustaining costs ($ / ounce)\n\n\n\n\nCAN$ 486/on\n\n\n\nUS$ 368/on\n\n\n\n\nCAN$ 196/on\n\n\n\nUS$ 147/on\n\n\n\n\nAll-in sustaining costs ($ / ounce)\n\n\n\n\nCAN$ 1,853/on\n\n\n\nUS$ 1,402/on\n\n\n\n\nCAN$ 1,554/on\n\n\n\nUS$ 1,167/on\n\n\n\n\nGold and silver ingots invent...