Business
Abcourt announces its financial results for the quarter ended March 31, 2026
ROUYN-NORANDA, Quebec, May 21, 2026 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB : ABMBF) announces its
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"\n \n ROUYN-NORANDA, Quebec, May 21, 2026 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB : ABMBF) announces its financial results for the third quarter ended March 31, 2026. All monetary values in this press release are expressed in Canadian dollars, unless otherwise indicated. Financial statements and management discussion and analysis are available on SEDAR+. Summary of financial results (In dollars)Three months ended March 31,Nine months ended March 31, 2026 2025 2026 2025 Revenues7,877,554 – 12,766,703 – Costs of sales12,779,778 – 24,457,126 – Tax credit resources(1,032,250)– (3,288,901)– Loss from mining operations(3,869,974)– (8,401,522)– Administration expenses1,469,001 1,068,917 3,646,730 2,499,582 Care and maintenance expenses70,402 692,919 321,316 2,743,950 Exploration and evaluation expenses1,190,798 4,063,635 1,542,544 5,158,388 Finance costs1,370,989 123,279 3,609,248 (161,343)Net loss and comprehensive loss(7,710,739)(5,466,608)(16,370,692)(9,756,976)Basic and diluted net loss per share(0.01)(0.01)(0.02)(0.01) (In dollars)March 31, 2026June 30, 2025Cash14,834,664 2,578,587 Total assets57,845,517 21,408,153 Non-current liabilities49,407,071 14,175,891 Shareholders’ negative equity(2,319,068)(599,534)Working capital (non-IFRS measurement) *22,406,763 2,952,725 * Working capital is a non-IFRS measurement with no standardized meaning under IFRS. For further information, please see section “Non-IFRS Measure”. During the quarter, Abcourt continued the development of mining operations at Sleeping Giant. Several expenses were incurred, including the development and rehabilitation of existing galleries to access production sites in the coming quarters, the maintenance of facilities and equipment, and the hiring of personnel.On February 2, 2026, Abcourt repaid the $1,040,000 loan to IQ.On January 30, 2026, the Company announced the closing of a senior debenture in the principal amount of up to US$30 million with Glencore AG and a various accompanying agreements including an offtake agreement on all products from Sleeping Giant mine.On January 30, 2026, a director of the C...