Abcourt Reports a Profit of $236,614 for its Second Quarter

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[{"type":"text","content":"Abcourt Reports a Profit of $236,614 for its Second Quarter(via TheNewswire)\n \n \nRouyn-Noranda, Quebec, Canada / TheNewswire / March 15, 2019 - Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (\"Abcourt\" or the \"Mines Abcourt inc.) has filed, on February 28 last, its quarterly financial statements and the management's discussion and analysis for the second quarter ended on December 31, 2018. All amounts are in Canadian dollars unless otherwise indicated. \n\n \n \nHighlights :\n\n \n \n\n\n- Sales of gold and silver of $6.04 M or 3,673 ounces of gold and other revenues of $942,943.\n\n\n\n \n \n\n\n- Net profit of $236,614, or $0,00 per share compared to $784,748, or $0,00, last year.\n\n\n\n \n \n\n\n- Available cash of $3.09 M compared to $2.53 M on June 30, 2018.\n\n\n\n \n \n\n\n- Update of NI 43-101 resources for the Elder mine and Tagami property and update of the preliminary economic study prepared by Roche Consulting-Group in 2012. \n\n\n\n \n \n\n\n- The preliminary economic study prepared by Roche Consulting-Group is no longer considered current and has been superseded by the updated mineral resource estimate. In addition, \"mineral resources that are not also mineral reserves do not have demonstrated economic viability\".\n\n\n\n \n \n\n\n- Hiring of investor relations firm in December 2018. \n\n\n\n \n \n\n\n- Update of the Abcourt-Barvue feasibility study which is summarized as follows :\n\n\n\n \n \n Prices of metals and exchange rate used \n\n\n \n zinc $ 1.10 $ US / lb\n\n\n \n silver $15.00$ US / lb\n\n\n \n exchange rate $ 1.00 $ US = $1.25 Can\n\n \n \n\n\n- Proven and probable mineral reserves = 8.07 million tonnes @ 51.8 g/t silver and 2.83% zinc\n\n\n\n \n\n\n\n- Cash flow before taxes\n\n\n\n- Cash flow after taxes \n\n\n\n- Net present value after taxes discounted at 5%\n\n\n\n- Project after-tax payback discounted at 8% \n\n\n\n- Life of mine\n\n\n\n\n\n\n$170.0 M \n\n\n\n$106.7 M \n\n\n\n $ 41,0 M \n\n\n\n 5.3 years\n\n\n\n 13 years\n\n\n \n \nComparative table of results for the second quarter and the six-month period\n\n\n \nended on December 31, 2018 and 2017\n\n \n\nDescription\n\n\n\n\n3 months\n\n\n\nDec. 31-18\n\n\n\n\n6 months\n\n\n\nDec. 31-18\n\n\n\n\n3 months\n\n\n\nDec. 31-17\n\n\n\n\n6 months\n\n\n\nDec.31-17\n\n\n\n\nTonnes treated\n\n\n\n\n20,746...

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