Abcourt Mines (TSXV:ABI) - Gold Producer Ready to Restart Sleeping Giant Mine

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6d ago 36:51

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Interview with Pascal Hamelin, President & CEO of Abcourt Mines Inc.

Our previous interview: https://www.cruxinvestor.com/posts/abcourt-mines-tsxvabi-self-funded-high-grade-gold-mill-expands-4922

Recording date: 20th May 2025

Abcourt Mines (TSXV:ABI) is positioning itself as an emerging gold producer in Quebec, with plans to pour first gold from its 100%-owned Sleeping Giant mine in the second half of 2025. Led by President and CEO Pascal Hamelin, the company has transformed its strategy over the past three years, shifting focus from its unprofitable Elder mine to the high-grade Sleeping Giant project.

The Sleeping Giant mine boasts approximately 400,000 ounces of gold resources at an impressive grade of 8 g/t, split evenly between indicated and inferred categories. With significant exploration potential to the east and at depth, Abcourt aims to expand this resource to one million ounces over the next two years using three drill rigs currently operating at the site.

Financially, the company has secured an $8 million USD loan from Nebari and is finalizing additional equity financing to complete its funding requirements. Initial production is targeted at 10,000 ounces in the first year, ramping up to 30,000 ounces annually over a six-year mine life. With all-in costs projected at $1,400 USD per ounce, the operation promises substantial margins in the current gold price environment.

The project benefits from existing infrastructure, including an operational mill that will initially run at only 40% capacity, creating future expansion opportunities. Multiple mining stopes are already prepared for immediate production once financing is finalized and workers are hired.

Abcourt's strategy prioritizes extending the mine life before expanding production. As Hamelin explained: "Our focus will be 80% of the free cash flow, we'll go on Sleeping Giant to make sure that we're extending the life of mine."

Beyond Sleeping Giant, the company holds a 500-square-kilometer land package with several earlier-stage assets that could eventually provide additional mill feed. With its modest market capitalization of approximately C$40 million, Abcourt presents a potential re-rating opportunity as it executes its transition to producer status during a favorable gold price environment.

View Abcourt Mines' company profile: https://www.cruxinvestor.com/companies/abcourt-mines-inc

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