Business
Excellent Operating And Financial Results For Elder Mine For The Three-Month And Six-Month Periods Ended December 31, 2017
(via TheNewswire) Mont-St-Hilaire, Quebec, Canada / TheNewswire / March 12 , 2018 -...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Excellent Operating And Financial Results For Elder Mine For The Three-Month And Six-Month Periods Ended December 31, 2017(via TheNewswire)\n \n \nMont-St-Hilaire, Quebec, Canada / TheNewswire / March 12, 2018 - 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\") is please to announce excellent operating and financial results for the Elder mine for the three-month and six-month periods ended December 31, 2017. \n\n \n \nHighlights are as follows\n\n \n \n-4,225 ounces of gold sold at an average price of CAN $1,627 (US $1,281) in the second quarter with revenues of $6,873,133; \n\n\n \nSale for the semester ended December 31, 2017, of 6,509 ounces of gold at an average price of CAN $1,627 (US $1,289) for a total revenu of $10,589,947; \n\n\n \n-A net income for the quarter of $784,748 and for the semester of $510,929;\n\n\n \n-A gros profit for the quarter of $1,023,283 and for the semester of $886,014;\n\n\n \n-A substantial increase in tonnes treated at Sleeping Giant mill, an increase of 42% over the previous quarter;\n\n\n \n-Average production cash costs (1) for the quarter was CAN $1,293 (US $1,018) per ounce, a decrease of 5% over the same quarter of the previous year which was CAN $1,358 (US $1,020) per ounce. In 2017, important maintenance costs to the Sleeping Giant mill resulted in an upward impact on the average production cash costs (1);\n\n\n \n-All-in sustaining costs (1) of CAN $1,526 (US $1,202) per ounce, a decrease of 15% over the all-in sustaining costs (1) for the year 2017 which was CAN $1,810 (US $1,387) per ounce;\n\n\n \n-Abcourt reaches its production costs reduction objectives;\n\n\n \n-The operating cash-flow was $1,187,150 for the six-month period ended December 31, 2017;\n\n\n \n-Cash balance at the end of the quarter was CAN $3,346,810 including the net proceed of $995,212 related to a private financing completed on December 21, 2017 and in amounts receivables of $1,160,723 mainly from the sale of gold;\n\n\n \n-A surface drilling program was started in September on the Elder property. Several good intersections were cut. This program was continued to the end of December. Additional exploration and definition drilling is planned for 2018;\n\n\n \n-In 2018, about 8000 meters o...