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Visit this page for information about Abcourt Mines Inc. corporate profile. Use the quick links below to jump to each section:
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MINERAL RESOURCES (revised April 30, 2012)
Resources - All categories
| Description 43-101 |
Tonnes
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Au
g/t
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Ag
g/t
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Cu
%
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Zn
%
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Gold
ounces
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Silver
ounces
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Copper
M.T.
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Zinc
M.T.
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Abcourt-Barvue, M & I
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7,018,969
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0.138
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61.19
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---
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3.33
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31,145
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13,810,000
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---
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234,000
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| Abcourt-Barvue, Inferred |
1,505,687
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0.138
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120.53
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---
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2.98
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6,681
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5,835,384
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---
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45,000
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| Vendome, M & I |
712,332
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1.23
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60.11
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0.63
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7.50
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28,263
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1,381,235
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4,488
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53,425
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| Vendome, Inferred |
305,769
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0.99
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36.77
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0.49
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4.30
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9,765
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362,681
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1,498
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12,925
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| Elder, M & I |
1,361,212
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6.6
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---
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---
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---
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288,944
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---
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---
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---
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| Elder, Inferred |
637,900
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5.7
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---
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---
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---
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116,821
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---
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---
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---
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The NI 43-101 reports for Abcourt-Barvue in 2006, for Vendome in 2013 and for Elder in 2012, were all prepared by Mr Jean-Pierre Bérubé, P. Eng., a qualified person, independent from the Company.
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Description
Historical Resources
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Short tons
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Au
oz/t
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Ag
oz/t
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Cu
%
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Zn
%
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Gold
ounces
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Silver
ounces
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Copper
M.T.
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Zinc
M.T.
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Aldermac - old mine
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623,480
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n/a
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n/a
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1.60
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2.00±
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---
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---
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9,000
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11,000
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Aldermac - new orebody
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1,150,000
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n/a
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n/a
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1.50
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4.13
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---
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---
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16,000
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43,000
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Jonpol
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2,807,000
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n/a
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1.11
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1.12
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0.96
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---
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3,116,000
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29,000
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24,000
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Total historical
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4,580,480
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n/a
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0.68
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1.28
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1.90
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3,116,000
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54,000
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78,000
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The Aldermac <old mine> historical resources were calculated by the mine staff before the closure of the mine in 1943. The Aldermac new orebody calculations were made in 1989 by Wright Engineers, a well-known firm of consultants at that time.
The Jonpol historical resources were calculated by the following persons:
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Zone Date Author
Upper Ag-Zn 1969 S. Waisberg (Conigo Mines Ltd)
Jay Copper 1969 S. Waisberg (Conigo Mines Ltd)
Main West Cu 1974 Kilborn Engineering Ltd (H.B. Hicks)
Lower Ag-Zn-Cu 1983 D. Titaro (Getty Canadian Mines Ltd)
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A qualified person has not done sufficient work to classify the historical estimates as current mineral resources. The issuer is not treating the historical estimates as current mineral ressources and the historical estimates should not be relied upon but they give a very good indication of the mineralization found on those properties. This statement is made by Mr Renaud Hinse, Professional Engineer, a qualified person, President of the Company.
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SHARE STRUCTURE (January 4, 2013)
Issued shares: 172,004,772 Category B (Common) shares
Options and warrants, etc: 52,716,666
Total number of diluted shares: 224,721,438
THE COMPANY
Abcourt Mines inc. is a Canadian based mining, development and exploration company with five strategically located properties in Northwestern Quebec, Canada, all easily accessible by roads.
The resources mentioned on our web site for the Vendome-Barvallee property, the Aldermac mine and the Jonpol property were prepared before the publication of National Instrument 43-101 and are presented for historical reasons only. See projects for additional details.
The resources for the Abcourt-Barvue property and the Elder mine have recently been revised by an independent qualified engineer, in accordance with National Instrument 43-101.
The Abcourt properties lie within and adjacent to the prolific gold-producing belts of the "Porcupine-Destor Break" and the "Larder Lake-Cadillac Break" that run through the Rouyn-Noranda and Val-d'Or, Quebec, regions where more than 40 million ounces of gold and substantial amounts of copper and zinc have been produced.
A recent 43-101 feasibility study completed by Genivar of Quebec City indicates that the Abcourt-Barvue silver-zinc proven and probable ore reserves are economical to mine at current silver and zinc prices.
Abcourt is a reporting company in Quebec, Ontario, Alberta and British Columbia. It is listed on the TSX Venture Exchange under the trading symbol ABI.V and in Berlin (AML-BE) and Frankfurt (AML-FF).
On December 31, 2012, the Company had in working capital about $4.1M.
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Click on picture to enlarge
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DIRECTORS AND OFFICERS (December 31,2011)
Directors: Officers:
Renaud Hinse Renaud Hinse, president and CEO
Yves Usereau Julie Godard, secretary
Jean-Guy Courtois Jean-Guy Courtois, CFO
Normand Hinse Consultants:
Marc Filion Marc Filion
André DeGuise Charles H. Bélanger
Christian Dupont Judith L. Hinse
Investor Relations:
Renaud Hinse
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Renaud Hinse, P. Eng., President, Director and Chief Executive Officer, has worked extensively within the mining industry in Quebec for 50 years. He received his degree as a mining engineer at Laval University in Quebec City and a certificate in metallurgical sciences at the Royal Technical College in Glasgow, Scotland. Mr. Hinse has also raised more than $50 M for mining projects.
Jean-Guy Courtois, Director, has several years of experience in the field of business. Mr. Courtois is a former Vice President of Urgel Bourgie Ltée, Montreal.
Normand Hinse, Director, is president and owner of Système Electronique Rayco Ltée at Quebec City, Qc. Mr. Hinse is a graduate in business administration from the Quebec University at Trois-Rivières, Qc. His business has subsidiaries in the USA and in England. He does business throughout the world.
Marc Filion, Ph.D, M.B.A., Director and consultant, has more than thirty years of experience in the development and management of capital intensive world-class industrial projects in joint venture with international business partners. He has also been deeply involved in the negotiation, start-up and management of international projects as well as in marketing engineering and construction projects in the energy, light and heavy industrial and environmental sectors in Canada, Europe, Southeast Asia, the Middle East, Africa and South America. His career path includes lengthy assignments in Great Britain, France, Iran, Niger and Thailand, thus giving him practical experience in project management, in strategic planning at home and foreign markets and in the development of business in culturally different environments.
Christian Dupont, B. Sc mining engineer, Director, has a Degree from Nova Scotia Technical College, Halifax, Nova Scotia. Mr. Dupont has been active in the mining industry since the early 1970's. Mr. Dupont has occupied several positions in the mining field. He has been senior mining engineer for Noranda and Chief Engineer for Exall Resources Inc. Mr. Dupont was also president and director of Kayorum Gold Mines Ltd., from 1992 to 1997 and vice-president of the same company in 1998. Between 1997 and 1998, he was also a director of Fieldex Exploration Inc. From 1997 to 2001, he was responsible of project management for Luzenac Inc., and from 2001 to 2006 he was vice president and director of TOM Exploration Inc. Since October 2005, Mr. Dupont has been President, Chief Executive Officer and Director of Explor Resources Inc.
Yves Usereau, CPA , CA, Director and CFO, graduated from the University of Quebec of Montreal with a bachelor degree in business administration in 1995. He has worked mainly in fiscality from 1992 to 2003 with KPMG and Andersen. He has also teached at the University of Hautes Études Commerciales (HEC) in Montreal and at the Training Center in Fiscality. In 2010, he founded Formation FinFisc Inc and he gives seminars and conferences and he writes a financial letter related to currency, gold and mining investments in gold and silver. He appears regularly on the T.V. station "Argent" as an expert in gold and mines.
André DeGuise, B. Sc, mining engineer,Director, graduated from the Polytechnical University of Montreal. During the past 40 years, he has worked for different mining companies, progressing regularly, becoming a mine manager in 1990. He has since worked for various companies with that title.
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Julie Godard, Secretary, is a lawyer and she has been a member of the Quebec Bar since 1986. She has been practicing in her own office in Rouyn-Noranda since 1991. Most of her practice is in mining and securities.
Charles H. Bélanger, P. Eng., M.B.A., Consultant, mines, has 30 years of mining experience, mostly in north-western Quebec.
Judith L. Hinse, BAA, consultant, is responsible of communications between the head office and mine office.
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CORPORATE GOVERNANCE PRACTICES
The following table describes the Corporation's approach to corporate governance with reference to Regulation 58-101 respecting Disclosure of Corporate Governance Practices ("the Regulation 58-101") for venture issuers. The Corporation believes that its practices are adequate and efficient for its organization as well as for its junior exploration company status. The matters pertaining to the corporate governance practices are studied by the Board of Directors.
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Composition of the Board of directors (the "Board")
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The Board presently consists of seven directors, of which three are considered independent directors as this term is defined in Regulation 58-101.
Renaud Hinse, President and CEO, Normand Hinse, son of the President and Jean-Guy Courtois, Chef Financial Officer of the Corporation, are considered not to be independent in reason of their position as officers of the Corporation or the affiliation with an executive officer.Also, Marc Filion is not considered independent because he has received consultsant fees from the Coproration during its latest financial year.
Christian Dupont, Yves Usereau and André DeGuise are considered as independent pursuant to Regulation 58-101.
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Directorships
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The directors that are presently also director of other reporting issuers are Marc Filion, director of ADF Group. and Christian Dupont, director of Explor Resources Inc.
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Orientation and Continuing Education
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The Board does not currently have a formal orientation program for new directors. The Board briefs all new directors with the policies of the Board and other relevant corporate and business information.
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Ethical Business Conduct
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The Board does not have a written code of ethics and conduct for the directors and officers. The Corporation has few employees. All the directors are required to act and carry-out their duties honestly and in good faith with a view to the best interest of the Corporation. The Corporation requests that all its directors act according to laws and rules whereby they are governed. Directors with an interest in a material transaction are required to declare their interest and abstain from voting on such transaction. All board members have solid track records in spheres ranging from financial to exploration in order to ensure a culture of ethical business conduct.
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Nomination of Directors
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The Board does not have a nominating committee. The current size and composition of the Board allows the entire Board to take the responsibility for finding and nominating new directors, taking into consideration the competencies, skills, experiences and ability to devote the required time.
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Compensation Committee
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The Board does not have a compensation committee. The current size of the Board allows the entire Board to take responsibility for considering compensation for the Corporation's executive officers and directors. Except for the issuance of incentive stock options from time to time, the Corporation does not presently compensate its directors for their capacity as such and does not compensate it's President and CEO. An annual amount is paid to a private corporation related to the President for consulting and administration fees, which is revised annually. Professional and consulting fees can also be paid to directors for professional services rendered to the Corporation.
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Other Board Committees
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The Corporation does not have any standing committees other than the Audit Committee.
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Board Assessments
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The Board is responsible for assessing its effectiveness as well as that of individual directors. The Board considers the mix of skills and experience that directors bring to the Corporation to assess whether they have the necessary skills to perform their function effectively. The Corporation communicates with its shareholders on a regular basis through press releases and the publication of financial information required to conform with its continuous disclosure obligations. The Corporation receives questions and comments from its shareholders by phone, email, on its web site and through the person responsible of investor relations.
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INVESTORS INFORMATION
| Exchange listings: |
TSX.V (ABI-V) and on the Berlin Stock Exc. (AML-BE) and on the Frankfurt Exchange (AML-FF). |
| Registrar and Transfer Agent: |
Computershare, 1500 University St, Suite 700, Montreal, Quebec, H3A 3S8, Canada, T: (514)982-7888 |
| Legal Counsel: |
Julie Godard, Rouyn-Noranda, Quebec, Canada
T: (819) 797-9336
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| Auditors: |
Dallaire et Lapointe, Rouyn-Noranda, Quebec,
T: (819) 762-0010
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| Head Office : |
506 des Falaises St., Mont-St-Hilaire, Quebec, J3H 5R7, Canada
T: (450)446-5511 F: (450)446-3550
Email: rhinse@abcourt.com |
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Investor Relations:
Mine office:
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Renaud Hinse T: (819) 768-2857 F: (819) 768-5475
or T: (450) 446-5511 F: (450) 446-3550
Email: Rhinse@abcourt.com
P.O.Box 459, Rouyn-Noranda (Evain), QC, J0Z 1Y1, Canada
T: (819) 768-2475 F: (819) 768-5475 Email: rhinse@abcourt.com
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