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Abcourt Mines at 90% of All the Material Needed for the Construction of An 1800-TPD Mill for Ag-Zn - Upside Valuation/Summary on Abcourt Mines Inc. (TSX VENTURE:ABI) (Pink Sheets:ABMBF) as the Company now possesses close to 90% of all the material needed for the construction of an 1800-tpd mill at their silver-zinc project
Abcourt Mines at 90% of All the Material Needed for the Construction of An 1800-TPD Mill for Ag-Zn

 

PRZOOM - /newswire/ - New York, NY, United States, 2008/02/06 - Upside Valuation/Summary on Abcourt Mines Inc. (TSX VENTURE:ABI) (Pink Sheets:ABMBF) as the Company now possesses close to 90% of all the material needed for the construction of an 1800-tpd mill at their silver-zinc project.

   
 
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Mining MarketWatch Journal has published an updated review and Upside Valuation/Summary on Abcourt Mines Inc. (TSX VENTURE:ABI) (Pink Sheets:ABMBF) as the Company now possesses close to 90% of all the material needed for the construction of an 1800-tonne per day mill at their silver-zinc Abcourt-Barvue project.

The Advisory/Update may be viewed free of charge online.

With Abcourt's news of the purchase of mill equipment coupled with their existing infrastructure & equipment from their once producing silver-zinc mine, it appears near-term production is imminent and with significantly improved metrics. Now is the time to pay attention to ABI.V shares as the current valuation should make upward adjustments to reflect forward discounted future revenues of Abcourt as a silver-zinc producer with a solid expandable resource base in a mining friendly region.

ABI.V's latest purchase of equipment once owned and used by Barrick Gold Corp. eliminates a 24 month wait for new equipment and is a major savings. The latest equipment purchase is only 10-12 yrs old and includes flotation and grinding mill equipment plus all accessories including bins, conveyors, cyclones, pumps, tanks, overhead cranes, lime and reagents circuits, electrical circuits, a gravity circuit with two 30" Knelson separators, spare parts. This with the two ball mills, crusher and lime plant already purchased and the existing facilities on the mine site covers close to 90% of all the material needed for the construction of an 1800-tonne per day mill at their silver-zinc Abcourt-Barvue project. The purchase of mill equipment is described by Abcourt's management "a major step towards a production decision"; a target production date will be clearer after dismantling and shipping of the mill equipment to ABI's mine site, after the spring thaw. Additional cost savings consideration are available such as staking a new open pit on the Abcourt-Barvue deposit, next to the existing open-pit.

Abcourt has 2 quality past producing projects with well in excess of $20M infrastructure. The current market cap of ABI.v is close to its infrastructure valuation alone, ignoring the vast economically recoverable resource deposits (approaching a billion dollars in Zinc alone) that are wide open for expansion; area miners such as Agnico-Eagle Mines Limited (NYSE:AEM)(TSX:AEM), IAMGOLD Corporation (NYSE:IAG)(TSX:IMG) and others share the same geological model and are currently mining at much greater depths than what Abcourt currently is at.

Abcourt is extremely undervalued at its current market cap as they have the resources to put into production and are currently forging ahead with progress towards open-pitting the once producing Abcourt-Barvue Silver-Zinc Project back into production. Production was put on hold in 1990 when silver prices were falling and there was an anticipated drop in the price of zinc. The equipment was mothballed for a timely reemergence and it appears the necessary right determining steps and requirements are now in place for a highly profitable operation. The company is debt free and has managed to maintain and upgrade their properties, equipment, and resources during the hiatus all without diluting the share structure.

Abcourt's other prize asset is their 100% interest in the past producing (1947 - 1966) Elder gold mine located 60 miles from their silver zinc project in Northwestern Quebec. Abcourt recently completed a 7000 meter, 40 hole drill program on this Elder gold property that will increase existing resources. Initial results are extremely encouraging. Similarly to the Abcourt-Barvue mine, Elder gold mine has a substantial amount of well maintained and upgraded infrastructure in place. The geological model the Company believes in for the Elder gold property, holds the potential for 1.5M tones of ore grading approx. 0.2 oz of gold per ton

ABI.V is resource rich with 750 Million lbs Zinc, 20 Million Oz Silver, 220k+ Oz Gold (43-101 measured and indicated resources on most numbers). They currently have only 45 Million shares outstanding and are trading well under US$0.50 per share.

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.

 
 
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Abcourt Mines at 90% of All the Material Needed for the Construction of An 1800-TPD Mill for Ag-Zn

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