Abcourt Attained Several Objectives In 2016

About this update from Abcourt Mines, Inc. Class B

[{"type":"text","content":"Abcourt Attained Several Objectives In 2016(via Thenewswire.ca)\n \n \nMont-St-Hilaire, Quebec, Canada, November 8, 2016 / TheNewswire / Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (\"Abcourt\" or the \"Company\") announces that the Company has attained several objectives in 2016, as follows:\n\n \n \n\n\n-Commercial production on January 1, 2016;\n\n\n\n \n \n\n\n-Positive margin of $2.8 M in the first half of the period and a net profit of almost $2.0 M in the second half of the period. See tables below;\n\n\n\n \n \n\n\n-Purchase of a second gold mine, the Sleeping Giant mine and its gold mill, on June 17, 2016, without the issue of capital-stocks and without debt;\n\n\n\n \n \n\n\n-$10 M increase in the assets, wich passed from $23.6 M in 2015 to $33.6 M in 2016, while liabilities increased by only $6.8 M, mainly with the provisions for the restoration of mining sites.\n\n\n\n \n \nDuring the July 1 - December 31, 2015 period, the underground exploration and valuation program was continued. Here is some information about that :\n\n \n \nInformation concerning the first half of the 2016 period:\n\n \n\nDescription\n\n\n\n\n3 months to \n\n\n\nSeptembre 30, 2015\n\n\n\n\n3 months to\n\n\n\nDecembre 30, 2015\n\n\n\n\n6 months to\n\n\n\nDecembre 30, 2015\n\n\n\n\nTonnes treated\n\n\n\n\n23,202\n\n\n\n\n31,506\n\n\n\n\n54,708\n\n\n\n\nTonnes broken in stopes\n\n\n\n\n28,804\n\n\n\n\n30,105\n\n\n\n\n58,909\n\n\n\n\nExtracted tonnes \n\n\n\n\n24,132\n\n\n\n\n24,867\n\n\n\n\n48,999\n\n\n\n\nGold ounces produced\n\n\n\n\n3,507.5\n\n\n\n\n4,805\n\n\n\n\n8,312.5\n\n\n\n\nSilver ounces produced\n\n\n\n\n494\n\n\n\n\n630\n\n\n\n\n1,124\n\n\n\n\nGold recovery at mill\n\n\n\n\n95.58\n\n\n\n\n95.40\n\n\n\n\n95.52\n\n\n\n\nRevenues received from the sale of waste rock, gold and silver \n\n\n\n\n$5,214,360\n\n\n\n\n$7,218,700\n\n\n\n\n$12,433,060\n\n\n\n\nPrice of gold sold, per ounce\n\n\n\n\n$1,484\n\n\n\n($1,126 US)\n\n\n\n\n$1,496\n\n\n\n($1,098 US)\n\n\n\n\n$1,491\n\n\n\n($1,109.80 US)\n\n\n\n\nExploration and valuation costs, royalties and write-off\n\n\n\n\n$3,910,027\n\n\n\n\n$5,671,409 $\n\n\n\n\n$9,581,436\n\n\n\n\nPositive margins (1)\n\n\n\n\n$1,304,333\n\n\n\n\n$1,547,291 \n\n\n\n\n$2,851,624 \n\n\n \n \n(1) Positive margins produced by the revenue from the sale of mineralized material le...

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