16 hours ago
14
PROTECT YOURSELF with Orgo-Life® QUANTUM TECHNOLOGY
Orgo-Life the new way to the future Advertising by AdpathwayArticle content
ROUYN-NORANDA, Quebec, Oct. 22, 2026 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB : ABMBF) reported its results for the fourth quarter and year ended June 30, 2026. All monetary values in this press release are expressed in Canadian dollars, unless otherwise indicated. Financial statements and management discussion and analysis are available on SEDAR+.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Summary of financial results
Article content
Article content
| (In dollars) | Three months ended June 30 | Years ended June 30 | ||||||
| 2026 | 2025 | 2026 | 2025 | |||||
| Revenues | 3,869,969 | – | 16,636,672 | – | ||||
| Costs of sales | 18,155,825 | – | 42,387,818 | – | ||||
| Tax credit resources | (2,949,561 | ) | – | (6,013,329 | ) | – | ||
| Loss from mining operations | (11,336,295 | ) | – | (19,737,817 | ) | – | ||
| Administration expenses | 726,679 | 1,157,694 | 4,373,409 | 3,657,276 | ||||
| Care and maintenance expenses | 31,802 | 606,511 | 353,118 | 3,350,461 | ||||
| Exploration expenses | 1,047,468 | 3,164,288 | 2,590,012 | 8,322,676 | ||||
| Finance costs | 2,246,994 | 110,389 | 5,856,242 | (50,954 | ) | |||
| Deferred income and mining taxes | (3,421,369 | ) | (338,673 | ) | (4,052,210 | ) | (1,611,673 | ) |
| Net loss and comprehensive loss | (11,732,575 | ) | (4,664,039 | ) | (28,103,267 | ) | (14,421,015 | ) |
| Net loss per share, basic and diluted | (0.01 | ) | (0.00 | ) | (0.03 | ) | (0.02 | ) |
Article content
Advertisement 1
Article content
| (In dollars) | June 30, 2026 | June 30, 2025 | ||
| Cash | 1,583,023 | 2,578,587 | ||
| Total assets | 52,227,619 | 21,408,153 | ||
| Non-current liabilities | 47,928,141 | 14,175,891 | ||
| Shareholders’ equity | (13,928,075 | ) | (599,534 | ) |
| Working capital (non-IFRS measurement) * | 7,512,813 | 2,952,725 |
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
* Working capital is a non-IFRS measurement with no standardized meaning under IFRS. For further information, please see section “Non-IFRS Measure”.
Article content
- Beginning of the development phase at Sleeping Giant property.
- Conclusion of a financing agreement with our partner Glencore AG during the fiscal year.
- An increase in working capital for the fiscal year ended June 30, 2026, resulting in working capital of $7,512,813, compared to working capital of $2,952,725 as of June 30, 2025.
Article content
Pascal Hamelin, President and CEO, said: “Fiscal year 2026 was a significant year in terms of achievements at the Sleeping Giant property. Following the financing completed with Nebari on July 3, 2025, the Sleeping Giant property has moved into development mode. With preparations for production having begun in August 2025, the Company is gradually continuing the development of the property.”
Article content
Advertisement 2
Article content
Non-IFRS Measure
This press release presents working capital as a performance measure which is non-International Financial Reporting Standards (IFRS) performance measure. The Corporation believes that this measure provides investors with an improved ability to evaluate the performance of the Corporation. Non-IFRS measures do not have any standardized meaning prescribed under IFRS. Therefore, such measures may not be comparable to similar measures employed by other companies. This data may not be comparable to data presented by other companies. Non-GAAP financial performance measures should be considered together with other data prepared in accordance with IFRS.
Article content
The Corporation determines working capital as follows: current assets less current liabilities.
Article content
Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian gold company developing the Sleeping Giant mine and in exploration for its other properties strategically located in northwestern Quebec, Canada. Abcourt owns the 100% owned Sleeping Giant mine and mill and the Flordin exploration property, where it focuses its operations.
English (US) · 
French (CA) · 
French (FR) ·