Abcourt Mines reports net loss of $28.1 million for fiscal 2026

Abcourt Mines Inc. has reported a net loss of $28.1 million for the fiscal year ended June 30, 2026, nearly doubling the $14.4 million loss recorded in the previous year. The company’s fourth-quarter results contributed $11.7 million to the total annual deficit.

While Abcourt generated $16.6 million in revenue during the fiscal year, costs of sales reached $42.4 million, resulting in an operating loss from mining operations of $19.7 million. Administrative expenses also increased to $4.4 million, compared to $3.7 million in 2025. Despite these losses, the company improved its working capital position to $7.5 million, up from $2.9 million the previous year.

CEO Pascal Hamelin stated that the company shifted the Sleeping Giant property into a development phase during the fiscal year, following a financing agreement with Nebari finalized in July 2025. Production preparations at the site began in August 2025, marking a transition toward active development.

Abcourt Mines continues to manage its portfolio of gold assets in northwestern Quebec, with the Sleeping Giant mine remaining the primary focus of its current operational development.