Abcourt Mines reports profit and increased revenue

Abcourt Mines Inc. released its financial results for the third quarter of 2020, reporting a net profit of $1.1 million. The company's earnings saw a significant improvement as operations recovered from pandemic-related disruptions and closures.

Revenue for the period reached $7.8 million, setting a new record for the third quarter. This increase reflects Abcourt's boosted production levels and the resumption of its activities after mandatory shutdowns implemented due to the COVID-19 pandemic. The financial figures for the quarter ending September 30, 2020, demonstrate the company's resilience and ability to rebound in challenging market conditions.

Beyond financial reporting, Abcourt Mines has continued its operational endeavors at the Sleeping Giant mine, having received explosive permits for the site. The company also reported promising drilling results from its Flordin property in the Lebel-sur-Quévillon area. Drilling intersected a new zone, yielding 14.79 g/t gold over 4 meters, suggesting potential for further mineralization.