Business
Excellent Results for the Third Quarter and the Nine-Month Period Ended on March 31, 2021
(TheNewswire) Rouyn-Noranda, Québec, Canada – TheNews...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Excellent Results for the Third Quarter and the Nine-Month Period Ended on March 31, 2021\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Rouyn-Noranda,\n \n \n Québec,\n \n \n Canada –\n \n \n TheNewswire\n-\n \n \n June 3, 2021 -\n \n \n Abcourt Mines Inc. (TSXV:ABI\n \n \n )\n \n \n ,\n \n \n (OTC:ABMBF),\n \n \n “\n \n \n Abcourt” or the\n \n \n “\n \n \n Company”)\n \n \n reports excellent results for the\nthird quarter and the nine-month period ended on march 31, 2021.  All\namounts are in Canadian dollars unless indicated differently.\n \n \n \n \n Highlights:\n \n \n \n \n \n \n -\n \n \n The company\nreports a revenue of $ 4,8 M for the third quarter.  This is 15 %\nlower than the $ 5,6 M reported for the same period in 2020.  The\nlower revenue was due to the failure of the hoist motor at Elder on\nDecember 22, 2020.  Production was interrupted from that date to the\nend of January 2021.\n \n \n \n \n \n \n \n \n - Despite this interruption, the Company reports a net\nprofit of $ 367,413 for the 3\n \n \n rd\n \n \n quarter,\ncompared to a loss of $ 97,604 for the same period in 2020.  An\nadjusted net profit of $ 938,456 was realized in 2021, compared to\n$ 654,837 in 2020.  The improvement is due to a lower cost of sales\nwhich is explained by an improvement in the ore grade and a reduction\nin amortization, depletion and royalties.\n \n \n \n \n \n \n \n \n - The average price received for the sale of gold was\n$ 2,189 ( US $ 1,745 ) per ounce in 2021.  The company sold\n2,199 ounces of golds in the third quarter, compared to 2,585 ounces\nin 2020, a reduction of 15 %.  The company sold a fewer member of\nounces because of the interruption of operations for one month.\n \n \n \n \n \n \n \n \n - Cash cost per ounce sold was $ 1,648\n( US $ 1,314 ) and all in sustaining costs were $ 2,002\n( US $ 1,596 ) in 2021 compared to a cash cost of $ 1,844\n( US $ 1,366 ) per ounce and an all-in sustaining cost of\n$ 2,129 ( US $ 1,577 ) in 2020.  This represents a decrease of\n11 % for the cash cost and 6 % for the all-in sustaining costs\ncompared to 2020...