Abcourt Mines Reports Financial Results for Q3 2026
Abcourt Mines reported a net loss of C$7.7 million for the quarter ended March 31, 2026, as development activities continued at the Sleeping Giant mine.
Rouyn-Noranda-based Abcourt Mines Inc. has released its financial results for the third quarter ended March 31, 2026. The company recorded a net loss of C$7.7 million, compared to a loss of C$5.5 million in the same period last year. Revenue for the quarter stood at C$7.9 million, though this was offset by significant operational costs and finance expenses.
Throughout the quarter, Abcourt focused on developing the Sleeping Giant mine. Activities included the rehabilitation of existing galleries to access production sites, facility maintenance, and ongoing hiring. CEO Pascal Hamelin stated that development work remains ongoing to improve production flexibility and pace as the company moves toward commercial production.
In January 2026, the company entered into a senior debenture agreement with Glencore AG for up to US$30 million, which includes an offtake agreement for Sleeping Giant mine products. Additionally, the company saw a conversion of a C$3 million debenture into 60 million common shares by a director. As of March 31, 2026, Abcourt reported cash reserves of C$14.8 million.