Abcourt Mines Receives TSXV Approval to Implement a Normal Course Issuer Bid (NCIB)

The most recent news (April 2, 2026) announces that Abcourt Mines has received TSX Venture Exchange approval for a Normal Course Issuer Bid (NCIB). The company is authorized to repurchase and cancel up to 80 million common shares, representing approximately 10% of its public float. This program will run for one year, starting April 3, 2026. Crucially, the buyback will be funded entirely from existing cash balances, which management attributes to the successful strategic financing with Glencore and the ongoing production ramp-up at the Sleeping Giant mine.

This news is Material - Positive for several reasons: - Confidence Signal: Implementing an NCIB immediately following a major debt restructuring and production restart signals management's extreme confidence in the company's internal cash flow and "intrinsic value." - Capital Discipline: It demonstrates that the US$30M Glencore facility and the transition to profitable mining operations (first achieved in Q2 FY2025) have provided sufficient liquidity to return capital to shareholders rather than just covering burn. - Anti-Dilutive Measure: After years of equity-heavy financing (including the 100M unit placement in Oct 2025 and various warrant issuances), a 10% reduction in the public float helps counteract previous dilution. - Glencore Validation: The buyback is underpinned by the January 2026 Glencore deal, which replaced high-cost debt with a SOFR + 2.5% facility and secured a 6-year offtake, providing the "revenue predictability" necessary to justify a buyback.

Abcourt Mines is a Quebec-focused gold producer. Its flagship is the Sleeping Giant Mine and Mill, which achieved commercial gold sales in September 2025. The mill has a 950 t/d capacity, currently underutilized at ~340 t/d, leaving room for custom milling (permitted in Oct 2025). The company also holds the Flordin-Cartwright project (exploration) and the Abcourt-Barvue silver-zinc project.