THEORSINGE, Quebec, Oct. 23, 2025 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) reported its results for the fourth quarter and year ended June 30, 2025. All monetary values in this press release are expressed in Canadian dollars unless otherwise noted. The financial statements, management's discussion and analysis are available on SEDAR+.
Summary of financial results
| (in dollars) | Three months are over June 30 |
The years are over June 30 |
||||||
| 2025 | 2024 | 2025 | 2024 | |||||
| Income | – | – | – | 255,000 | ||||
| Administrative expenses | 1,157,694 | 1 104 291 | 3657276 | 3762272 | ||||
| Care and maintenance | 606 511 | 662 207 | 3 350 461 | 2702092 | ||||
| Exploration expenses | 3 164 288 | 639 307 | 8 322 676 | 4,682,988 | ||||
| Deferred income and mineral extraction taxes | (338,673) | 349 142 | (1,611,673) | 178 430 | ||||
| Net loss and comprehensive loss | (4,664,039) | (2,892,734) | (14,421,015) | (11,585,571) | ||||
| Net loss per share, basic and diluted | (0.00) | (0.01) | (0.02) | (0.02) | ||||
| (in dollars) | June 30, 2025 | June 30, 2024 | ||
| Cash | 2 578 587 | 757 753 | ||
| Total assets | 21 408 153 | 14 063 983 | ||
| Long-term liabilities | 14 175 891 | 12 261 315 | ||
| Share capital | (599,534) | (6,284,136) | ||
| Working capital (non-IFRS valuation) * | 2 952 725 | (4,947,411) |
* Working capital is a non-IFRS measure and does not have a standardized meaning under IFRS. For more information, see the section “Non-IFRS Measures”.
- Abcourt achieved significant improvement in its working capital for the year ended June 30, 2025 to $2,952,725 compared to negative working capital of $4,947,411 as of June 30, 2024.
- Exploration costs have increased significantly following extensive work at the Sleeping Giant and Flordin sites.
Pascal Hamelin, President and CEO, said: “Fiscal 2025 was an important year in terms of exploration activities at our Sleeping Giant and Flordin deposits. Following the financing completed with Nebari on July 3, 2025, the coming quarters will demonstrate a different picture for the Sleeping Giant deposit as we move into development mode. As preparations for production began in August 2025, the Company is gradually continuing to develop the field.”
Indicator that does not comply with IFRS
This press release presents working capital as a performance measure that is not in accordance with International Financial Reporting Standards (IFRS). The Corporation believes that this measure provides investors with greater opportunity to evaluate the Corporation's performance. Non-IFRS measures do not have any standardized meaning prescribed by IFRS. Consequently, such measures may not be comparable to similar measures taken by other companies. This data may not be comparable to data provided by other companies. Non-GAAP financial performance measures should be considered in conjunction with other data prepared in accordance with IFRS.
The corporation defines working capital as follows: current assets minus current liabilities.
Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian gold mining company operating the Sleeping Giant mine and exploring its other deposits strategically located in northwestern Quebec, Canada. Abcourt owns 100% of the Sleeping Giant mine and processing plant, as well as the Flordin exploration complex, where the company focuses its activities.
For more information about Abcourt Mines Inc. visit our website and view our documents in the Abcourt profile page www.sedarplus.ca
FORWARD-LOOKING STATEMENTS
Certain information contained in this press release may constitute “forward-looking information” within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “goals”, “expects”, “projects”, “intends”, “anticipates”, “estimates”, “may”, “should”, “likely”, or variations of these words and phrases or statements indicating that certain actions, events or results “may”, “will”, “occur” or “achieve” 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 related assumptions and risk factors set forth in Abcourt's public filings 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 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 of these 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.
