Abcourt Announces its Results for the Third Quarter Ended March 31, 2025
Summary of financial results
(In dollars)
Three months endedMarch 31
Nine months endedMarch 31
2025
2024
2025
2024
Revenues
–
–
–
255,000
Administration expenses
1,068,917
776,367
2,499,582
2,657,981
Care and maintenance
692,919
231,541
2,743,950
2,031,082
Exploration expenses
4,063,635
1,765,615
6,118,177
4,043,679
Settlement of litigation with Revenu Québec
–
–
(1,452,757
)
–
Deferred income and mining taxes
(1,100,000
)
–
(1,273,000
)
(170,712
)
Net loss and comprehensive loss
(5,466,608
)
(2,892,142
)
(9,756,976
)
(8,692,837
)
Net loss per share, basic and diluted
(0.01
)
(0.01
)
(0.01
)
(0.02
)(In dollars)
March 31, 2025
June 30, 2024
Cash
937,733
757,753
Total assets
16,493,159
14,063,983
Non-current liabilities
12,908,748
12,261,315
Shareholders' equity
(3,447,876
)
(6,284,136
)
Working capital (non-IFRS measurement) *
(2,172,892
)
(4,947,411
)
* Working capital is a non-IFRS measurement with no standardized meaning under IFRS. For further information, please see section "Non-IFRS Measure".
Abcourt has achieved a significant improvement in its working capital for the period ended March 31, 2025, with a negative working capital of $2,172,892, compared to negative working capital of $4,947,411 as at June 30, 2024.
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.
The Corporation determines working capital as follows: current assets less current liabilities.
Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian gold exploration company with 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.
For more information about Abcourt Mines Inc., please visit our website and view our filings under Abcourt's profile on www.sedarplus.ca.
Pascal Hamelin
Dany Cenac Robert, Investor Relations
President and Chief Executive Officer
Reseau ProMarket Inc.,
T : (819) 768-2857
T : (514) 722-2276, poste 456
Email : phamelin@abcourt.com
Email : dany.cenac-robert@reseaupromarket.com
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR at www.sedarplus.ca. There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
an hour ago
- The Hill
Air Canada faces turbulence as flight attendants go on strike: What to know
Air Canada flight attendants went on strike Saturday after failing to reach a contract agreement regarding an increase in wages. Flights across the Great White North were canceled as 10,000 attendants represented by the Canadian Union of Public Employees (CUPE) chose not to work, halting some operations for the country's largest airline. Attendants started walking off the job around 1 a.m. EDT on Saturday, according to The Associated Press. Passengers notified of flight cancellations Air Canada canceled approximately 500 flights on Friday. Travelers were notified through email or text about the status of their trip, and the company said they would continue to provide routine updates. At least 128 domestic flights and 194 international flights were cancelled, AP reported. On Thursday, 18 domestic flights and four international flights were cancelled, per the outlet. Travelers rebooked on alternate airlines Air Canada has offered to rebook passengers on available airlines when possible. However, the company noted many options are out of reach 'due to the summer travel peak.' Passengers with cancelled flights are eligible for a full refund, according to Air Canada's website. 'We regret the impact a disruption will have on our customers, our stakeholders and the communities we serve,' Michael Rousseau, president and chief executive of Air Canada, said in a statement on the website. However, the disappointing conduct of CUPE's negotiators and the union's stated intention to launch a strike puts us in a position where our only responsible course of action is to provide certainty by implementing an orderly suspension of Air Canada's and Air Canada Rouge's operations through a lockout 'As we have seen elsewhere in our industry with other labour disruptions, unplanned or uncontrolled shutdowns, such as we are now at risk of through a strike, can create chaos for travellers that is far, far worse,' he added. Air Canada suggests third-party, binding arbitration with union Air Canada has suggested a third party engage in talks with the labor union as hope for a contract dampens. The company criticized CUPE for not accepting the offered 38 percent pay increase for workers over a four-year period. 'In an additional attempt to prevent travel disruption, Air Canada had also offered to CUPE to enter third-party, binding arbitration to settle the outstanding points of discussion,' a statement on the website reads. Company officials said CUPE responded by issuing a notice of Saturday's strike. 'Given this, while we remain available for discussions with CUPE, we have requested government-directed arbitration as we now view it as the only certain avenue to bring closure to bargaining and mitigate the impact on travellers, business and the Canadian economy,' the Air Canada president said of the matter. CUPE argued that the proposed pay raise did not account for inflation, stating on Friday that the 'the mere prospect of ministerial intervention has had a chilling effect on Air Canada's obligation to bargain in good faith.' 'Air Canada's request for intervention should be denied,' the group added. Air Canada Express flights operated by Jazz and PAL Airlines are expected to continue operations as normal, carrying 20 percent of the airline's daily customers. Both Air Canada and Air Canada Rouge carry approximately 130,000 customers a day, disrupting travel for 25,000 Canadians who use the airline to fly home from abroad each day.
Business Upturn
2 hours ago
- Business Upturn
How a simple Demat account trick can save you thousands in stock market taxes
Many stock market investors unknowingly pay far more tax than they should simply because of how they manage their Demat accounts. The reason? Most people hold both their long-term investments and short-term trading positions in the same Demat account. On the surface, this looks simple and convenient. But when it comes to taxation, it creates a trap that leads to higher taxable gains — and bigger tax bills. How FIFO inflates your tax bill India's tax system follows FIFO – First In, First Out. This means when you sell shares, the system assumes you're selling your oldest holdings first, even if your intention was to sell recent trades. Here's a simple example: You buy 100 shares at ₹100 each for long-term investment. Later, you buy 50 shares at ₹180 each for short-term trading. A few weeks later, you sell the 50 shares at ₹200 each. What you think your profit is: Trading profit = ₹20 per share (₹200 – ₹180). What the tax system says your profit is: Since FIFO applies, it counts the ₹100 long-term shares as sold first. Taxable profit = ₹100 per share (₹200 – ₹100). So instead of being taxed on ₹1,000 profit (50 × ₹20), you're taxed on ₹5,000 profit (50 × ₹100). That's a huge jump — and this happens only because everything is mixed in one account. The fix: Separate your holdings The solution is straightforward: keep your long-term and short-term investments in separate Demat accounts. One Demat account for long-term holdings. Another Demat account for short-term trades. This way, you control which shares you're selling, and the FIFO rule applies within each account separately. By simply separating accounts, you prevent long-term investments from being treated as short-term sales. How Zerodha makes it easier Recently, Zerodha introduced a Secondary Demat Account feature. This allows investors to create a second Demat account under the same login, making it far easier to separate long-term and short-term holdings. Zerodha users can activate this feature for better tax planning. Even non-Zerodha users can do this by opening Demat accounts with different brokers. Either way, the principle is the same: segregation gives you tax control. Why this matters For small traders, this could mean saving thousands of rupees a year. For larger portfolios, it could mean lakhs in tax savings over time. In stock market investing, we often focus on making the right trades. But managing tax efficiency is equally important. As the saying goes: It's not just about what you earn, it's also about what you keep. Conclusion By using separate Demat accounts — or Zerodha's new Secondary Demat Account feature — you can legally and effectively reduce your tax burden. It's a simple, practical tax hack that can save you big money in the long run. If you invest in stocks, this one adjustment could mean the difference between paying heavy taxes and keeping more of your hard-earned profits. Disclaimer: This article is for informational purposes only and does not constitute financial or tax advice. Readers should consult a qualified professional before making any investment or tax-related decisions. Details in this article have been referenced from a LinkedIn post by CA Nitesh Buddhadev. Ahmedabad Plane Crash
USA Today
4 hours ago
- USA Today
Air Canada strike grounds most flights, stranding thousands
Most Air Canada flights are grounded as the carrier's flight attendants have begun an indefinite strike. According to FlightAware, 63% of Air Canada's Saturday schedule is canceled, as well as 65% of Air Canada Rouge's schedule as of 7:30 a.m. ET. The airline began winding down its operations on Wednesday in preparation for the walk-off and warned in a statement that it expects about 130,000 passengers worldwide to be affected each day of the strike. Flight attendants walked off the job after their union negotiators reached an impasse with the airline management over wages and compensation. Air Canada is offering a waiver to passengers whose flights might be affected, allowing travelers who booked their flight by Aug. 14 to move their tickets to travel between Aug. 21 and Sept. 12 without paying a fee or fare difference. More information about the waiver is available on Air Canada's website. AirAdvisor, a consumer airline refund website, suggests that as many as 27,000 U.S passengers per day could be affected. While Air Canada is not a major carrier within the U.S., it is a key link across the border and a popular choice for connecting flights to Europe and Asia for American travelers. According to AirAdvisor, Air Canada has up to 135 flights a day from the U.S. to its hubs in Montreal, Toronto and Vancouver, with New York, Chicago, Los Angeles, Seattle and Miami seeing the most service. The airline operates some flights from the U.S. to other non-hub destinations in Canada as well. Flights operated by Air Canada's regional partners, Jazz and PAL, will continue operating during the strike, so some services booked through Air Canada will continue, but the airline noted in its statement that those affiliates operate only around 20% of its services. The airline warned that it is trying to get passengers reaccommodated on other carriers, but that seat availability is limited. "Customers whose flights are cancelled will be notified and they will be eligible for a full refund, which can be obtained online at or through the Air Canada mobile app. The company has made arrangements with other Canadian and foreign carriers to provide customers alternative travel options to the extent possible," Air Canada's statement said. "Customers will be notified of alternative travel options that are identified for them. However, given other carriers are already very full due to the summer travel peak, securing such capacity will take time and, in many cases, will not be immediately possible." As a major United Airlines partner, thanks to both carriers' membership in the Star Alliance, United Airlines is likely to see the most overflow for rebookings among carriers in the U.S. What is Air Canada? Air Canada is the flag carrier and largest airline in Canada. As a member of Star Alliance, its partners include United Airlines, Lufthansa, All Nippon Airways and a number of other global carriers. How big is Air Canada in the US? Air Canada is the biggest airline connecting Canadian markets to U.S. destinations, and also a major option for those looking to connect from the U.S. to Europe or Asia. 'What makes this strike particularly disruptive is its timing and scope. We're in the peak summer travel window, when planes are already running at 85-90% capacity and last-minute alternatives are scarce," Anton Radchenko, AirAdvisor's founder, said in a statement. "Air Canada isn't just another carrier; it's the primary connector between the US and Canada, handling thousands of passengers daily across leisure, business, and essential travel. When its network seizes up, the ripple effect touches every major US hub, from JFK and LAX to Seattle and Miami." He said northern U.S. airline hubs are likely to see increased traffic as Air Canada passengers to and from overseas destinations get rebooked through American markets. U.S. passengers heading to Europe via Toronto or Montreal, or to Asia via Vancouver, are also likely to encounter issues during the strike. Zach Wichter is a travel reporter and writes the Cruising Altitude column for USA TODAY. He is based in New York and you can reach him at zwichter@
