Business
Another Good Quarter at the Elder Mine with a Net Profit of 592 932 $
(TheNewswire) Rouyn-Noranda, Québec, Canada – TheNewswire - ...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Another Good Quarter at the Elder Mine with a Net Profit of 592 932 $\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Rouyn-Noranda, Québec, Canada –\n \n \n TheNewswire -\n \n \n November 29, 2021 -\n \n \n Abcourt Mines Inc.\n \n \n (TSXV:ABI\n \n \n )\n \n \n ,\n \n \n (OTC:ABMBF), (\n \n \n Berlin:AML-BE\n \n \n )\n \n \n and\n \n \n (\n \n \n Frankfurt Stock Exchanges:AML-FF)\n(\"Abcourt\" or the \"Corporation\"\n \n \n ), declares good results for the 1\n \n \n st\n \n \n quarter ended\non September 30, 2021, compared to the 1\n \n \n st\n \n \n quarter ended\non September 30, 2020. All amounts are in canadian dollars unless\nindicated differently.\n \n \n \n \n HIGHLIGHTS:\n \n \n \n \n \n \n Revenues of $ 6,659,898 for the first quarter ended on\nSeptember 30, 2021 compared to $ 7,810,494 in the quarter ended on\nSeptember 30, 2020, hence a drop of 15% justified by a lower price for\ngold and by a reduction in the member of ounces sold.\n \n \n \n \n \n \n \n \n A net profit of $ 592,932 in 2021, compared to $\n1,055,638 in 2020 explained in part by a reduction in the number of\nounces sold.\n \n \n \n \n \n \n \n \n Adjusted net profit of $ 1,257,087 in 2021, compared to\n$ 1,787,909 in 2020, hence a drop of 33 %.\n \n \n \n \n \n \n \n \n Cost of sales of $ 5, 793,520 in 2021, compared to $\n6,560,546 in 2020, hence a reduction of 19%.\n \n \n \n \n \n \n \n \n Cash of $ 1,428,798 on September 30, 2021, compared to\n$ 2,454,545 on June 30, 2021.\n \n \n \n \n \n \n \n \n Gold inventory of $ 2,695,785 in 2021, compared to $\n1,946,725 on September 30, 2020, for an increase of $ 745 k.\n \n \n \n \n \n \n \n \n Cash cost of $ 1,766 (US $ 1,403) compared to $\n1,89\n \n \n \n \n 7 (US $\n1,426) per ounce and an all inclusive cost of\n \n \n \n \n \n \n $ 2,095 (US $ 1,664) per ounce compared to $ 2,184\n(US $ 1,642) per ounce in 2020. There was an increase of 8,7% of the\nounces produced and a reduction of 4,9% of the ounces sold.\n \n \n \n \n \n \n Ounces produced in 2021 were 3,271 compared to 3,008 in\n2020. Ounces sold in 2021 were 2,928 compared to 3,071 in 2020, hence\nan increase 8.7% of the ounces produced and a decrease of 4.9% of the\nounces sold.\n \n \n \n \n \n \n \n \n Sales of 195 ounces of gold extracted by mine\ndevelopment at Sleeping Giant mine for a total of\n \n \n \n \n \n \n $ 440,912 i...