Northwire Canada EditionTuesday, August 11, 2026
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Earnings

Abcourt hires Red Cloud for market-making services

By The Northwire Desk — AI Analysis Nov 27, 2025 · 20:01 ABI · 0.085 Abcourt Mines Inc.
ABI · Price

Executive Summary

  • Abcourt Mines Inc. reported its financial and operational results for the first quarter ended September 30, 2025.
  • The company advanced development at its Sleeping Giant mine, including filling the mill circuit with gold, building phase 1 of the sleep camp and kitchen, and executing civil construction at the tailing facility.
  • Abcourt engaged Red Cloud Securities Inc. (RCSI) to provide market-making services for its common shares on the TSX Venture Exchange, subject to exchange approval.

Key Details

  • Financial Period: First quarter ended September 30, 2025.
  • Operational Updates (Sleeping Giant Mine):
    • Began development of mining operations.
    • Incurred expenses related to the development of drifts and rehabilitation of already developed drifts to access planned production stopes.
    • Performed maintenance on installations and equipment.
    • Hired employees.
    • Began filling the mill's circuit with gold.
  • Surface Construction:
    • Built phase 1 of the sleep camp and kitchen; commissioned on September 2.
    • Executed civil construction work at the tailing facility in preparation for winter.
    • Prepared for the next lift planned in cell 2A for the summer of 2026.
  • Market Making Agreement:
    • Engaged Red Cloud Securities Inc. (RCSI) to provide market-making services.
    • Subject to approval of the TSX Venture Exchange.
    • Objective: Maintain a reasonable market and improve liquidity of common shares.
    • Compensation: No performance factors; RCSI will not receive shares or options as compensation.
    • Related Party Disclosure: Chad Williams, a director of Abcourt, is a significant shareholder of RCSI's parent company, making the transaction non-arm's length. Mr. Williams has removed himself from the delivery of these services.
    • RCSI Holdings: As of the date of the release, RCSI beneficially owns or controls 14,000 common shares and 9,891,805 securities convertible into common shares.
  • Non-IFRS Measure: Working capital is presented as a performance measure (current assets less current liabilities).

Notable Quotes

  • No direct quotes from the CEO or President were included in the provided text.
Read the original news release →

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Earnings