Abcourt Mines Inc.(TSX.V: ABI)
(Berlin: ABI)
(Frankfurt: ABI)
CEO:Renaud Hinse
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Interview Transcripts:
Juan Costello: Good day from Wall Street. This is Juan Costello, senior analyst at the Wall Street reporter and joining us today is Renaud Hinse, the CEO for Abcourt Mines Incorporated. The company trades on the TSX venture, their ticker symbol is ABI as well as on the Berlin Exchange and a Frankfurt Exchange, ticker symbol is ABI as well. Thanks for joining us today Renaud.
Renaud Hinse: Good day.
Juan Costello: Good day. Now, starting of, give us a brief history and overview of the company for some of our listeners there that are new to the story.
Renaud Hinse: Abcourt Mines is a Canadian based mining, development and exploration company with six – five strategically located properties in Northwestern Quebec, Canada, all easily accessible by road. Our properties lie within 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. Our Elder mine 43-101 gold resources stand at 200,000 ounces. In addition, we have a 43-101 feasibility study which was completed in 2007 by Genivar, a group of consulting engineers of Quebec City, indicate that the Abcourt-Barvue silver-zinc golden probable ore reserves which stand at about 70 million tons. Our economic [Indiscernible] [0:01:50] Abcourt is a reporting issuer in Quebec, Alberio, Alberta and British Columbia. As you said earlier, we lifted Toronto Stock Exchange, Venture Exchange in Berlin and Frankfurt. The company has about $8.1 million in working capital and they – and all resources that we have, our extensive, they sold to over all categories about 15 million tons and they consist of gold ore and silver, zinc ore, we have another property with copper, zinc and a little bit of silver and gold. We also have some exploration, properties with Hitori Gold Resources and values in silver, zinc, copper and gold.
Juan Costello: Great.
Renaud Hinse: And we have about a 150 million shares outstanding and the value of our assets is quite substantial.
Juan Costello: Excellent. So yeah, talk to us about the recent AB-11 hole drilled on the Abcourt-Barvue Mine.
Renaud Hinse: We have been doing two drilling programs, one of the Elder mine which is a gold property. I have Rouyn-Noranda in Québec and we have also been doing some drilling on Abcourt-Barvue which is a zinc property which is not far from Val-d’Or also in Quebec. On the Abcourt-Barvue property is the recent diamond drill hole, and are expected to a very good values in silver, zinc, over a good mining with…
Juan Costello: Well, actually and then is there are any updates to a report there from Elder since our last interview?
Renaud Hinse: On Elder, we have been drilling for almost two years now, to expand and upgrade the resources that we have their and our drilling has been quite successful. We have, we have put out quite a number of a price releases listing several drilled holes with good value. So, we expect that our resources have expanded substantially from the last calculations that was on the 2009.
Juan Costello: And talk to us a little bit about of some of the trends in your sector and how wee positioned the company is to capitalizing on them.
Renaud Hinse: The mining sector is very – going very well now. The price of the commodities are high, the price in Denver at $35 and that’s the famous, gold with $1200, that’s also extraordinary and I think the price I think is good. So, these are the commodities that we have in last quantity and in the area there are several companies that are working on different project trying to find gold or find base metals. The area is very active not far for mining. Several mines were eventually get to production. We have two of them that we are trying to advance to that stage and there are several others I think that will join us later. In addition to that the Quebec government has announced what they call in the northern plant which is the – the plant which will provide infrastructures or mining development in the northern part of the province and that’s great for the industry. The – is very, very pro-mines – so, that’s makes it easy to get the mine started.
Juan Costello: Well, that’s excellent and what else would you say makes the company unique from – or makes Abcourt unique from some of the other players in this sector?
Renaud Hinse: Well, previously we are advanced, we have our project have advanced that we have substantial resources. We have experienced management and we are located in the Val-d’or and the investment climate is favorable for mining in Quebec. So, I think this made us very attractive for the investors. That’s something we think that the price of our shares is way too low, doesn’t represent the real value and we are working now towards the financing the mines into production.
Juan Costello: Well, good and perhaps you could walk us through your background and experience Renaud and talk a little bit about the management team there.
Renaud Hinse: Yeah. Well, I am a mining engineer, I graduated over 50 years ago from the Laval University, Quebec City. And I have also a certificate at Metallurgical Sciences from the Royal Technical College in Glasgow. I have been with Abcourt Mines since 1980. I was instrumental in raising about $50 million over the years with various projects going. Before that, I was with base metal company [Inaudible] [0:08:52] for 20 years and this was followed by a five-year area with Suburb at Quebec government subsidiary as to overlook mine development and mine operation for them. The Abcourt-Barvue have two other geologists, Chris Dupont and Judith Baker and I have also someone who has mastered business administration and a PhD in geology. This person was [Inaudible] [0:09:45] Quebec. He was the vice president of in charge of the mining in the knowledgeable sector and he is going to be a good help to raise the funds for our project. For the work, I have geologist who has a 30 years of experience as an MBA, as a consultant geology, I have knowledge of someone with Master Degree in Science, MBA. So, that the – for the people in our organization. Presently, we are also [Indiscernible] [00:10:38] we have the mine and I have them. [Inaudible] [0:10:42] looking at the massive mining export.
Juan Costello: Good. And what are some of the goals and the milestones that you and the team there hoping to accomplish over the course of the next year?
Renaud Hinse: Well, we will get the Elder mine [Indiscernible] [00:11:06] and then we will start development on the ground with the objective of getting some production to the possible aspect that you wanted. The [Indiscernible] [00:11:18] between six to eight months and we hope during this in the road to find the funds to complete the mine preparation for production. At the same time we are looking for financing to continue the preparation for the [Inaudible] [0:11:50] open the project and they are stuck right now and it has projects at the high price pursuit.
Juan Costello: And as far as investors in the financial community Renaud, do you believe that the company story and your message is completely understood and appreciated by the financial community?
Renaud Hinse: Well, I guess not. People who understood exactly our position, I have paid the price of the staffs to be hired, so…
Juan Costello: It’s already wish that…
Renaud Hinse: We have to do some more investor’s relations and try to get the – get our story understood by the investor.
Juan Costello: Well, what – what do you wish that investors better understood about the company?
Renaud Hinse: Well, they – they realize their value of the assets that we have and then the – the near some production objectives that we have and then the – the substantial cash flow that the mines will produce once they are in production.
Juan Costello: Excellent. And so, once again joining us today is Renaud Hinse, the CEO for Abcourt Mines Incorporated. The company trades on the TSX Venture ticker symbol is ABI as well as on the Frankfurt in Berlin Exchange ticker symbol is the same ABI currently trading at 12 cents a share. The marketing cap is north of 13.2 million. And before we conclude Renaud to briefly recap some your key points, in your opinion why should investors consider the company ABI today?
Renaud Hinse: Well, as I have mentioned earlier, the – we have substantial resources. The price of the metal, they are good. The – we are termed producers and the mines produce substantial cash flows once they are in production.
Juan Costello: Well, we certainly do look forward to continue and to track the company’s growth as well as report on your upcoming progress and I liked you, thank you for taking the time to join us today and update our investors on the company.
Renaud Hinse: You’re welcome.