Abcourt Mines Inc.
Abcourt Mines Inc. is restarting the historic Sleeping Giant gold mine in Quebec's Abitibi region (process plant originally restarted in 2016), alongside exploration at its Flordin property. Following a Jun 2023 PEA (Sleeping Giant Mill permitted for 950 t/d, ~340 t/d average planned throughput), the company closed an US$8 million secured financing facility with Nebari Natural Resources Credit Fund II on 4 Jul 2025 (36-month term, SOFR+12%, secured against substantially all Abcourt properties) to fund the restart. Underground rehabilitation and first-stope preparation began early Jul 2025, the mill began processing ore in Aug 2025, and Abcourt poured its first gold on 11 Sep 2025. On 28 Oct 2025 the company obtained an environmental certificate of authorization for custom milling of third-party ore at the Sleeping Giant Mill, a separate fee-based revenue stream alongside the company's own production ramp-up. On 30 Jan 2026 Abcourt closed a US$30 million senior secured debt financing and a binding offtake agreement with Glencore AG (100% of Sleeping Giant gold/silver dore, minimum 6-year term), formalizing the channel for the company's own gold sales. Fiscal Q4 2026 (quarter ended 30 Jun 2026) set a record 11,891t milled (+160% q/q), 720oz gold produced/646oz poured, bringing FY2026 cumulative production to 3,628oz produced/2,647oz poured -- still well below the company's own ~30,000oz/year Phase 1 target, consistent with an early-ramp producer rather than one that has reached commercial production. On 6 Aug 2026 Abcourt announced a proposed non-binding term sheet to increase its senior secured debenture with Glencore AG from US$30M to US$40M (accelerating the second US$21.875M tranche to on/about 12 Aug 2026), with proceeds earmarked to repay the Nebari facility and fund further Sleeping Giant/Flordin capex and working capital. Pascal Hamelin is President & CEO; Loic Bureau is COO; Alain Levesque is CFO.
Notable vs. Peers
- Financials score of 1/10 is weaker than the peer average of 6.6/10.
- Trading within 4% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
4 of 5 reached- Reached — date not disclosed · Source
- Jul 2025 · Source
- Reached — date not disclosed · Source
- Sep 2025 · Source
- Not yet reachedExpected Target only -- steady-state production through December 2026; no declaration date given · Abcourt has not given a commercial-production declaration date. Its 25 Aug 2026 release frames the near-term objective as maintaining production at Sleeping Giant through December 2026, with the first long-hole stope (blasted July 2026) expected complete mid-Sept 2026. Recorded as a target, explicitly not a declaration date -- an earlier 'commercial production declaration expected mid-2026' target (Crux Investor, 5 Dec 2025) has already slipped with no declaration, so this window is treated as soft. · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Combined view across 3 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 33.3%Sleeping Giant Gold Mine
- 5.8 yrsSleeping Giant Gold Mine
Jurisdiction (40%)9/10
Quebec: Fraser PPI 2025 is 79.39 of 100 (rank 23 of 68), which maps to 9 on this site's scale. Abitibi region, Quebec -- Tier-1 Canadian mining jurisdiction.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Sleeping Giant Gold Mine.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: North American Lithium (Elevra Lithium Limited / Investissement Quebec), 81 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:4/10
Nearest producing mine: North American Lithium (Elevra Lithium Limited / Investissement Quebec), 81 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President & CEO of Abcourt Mines Inc. since 4 Apr 2022; mining engineer (Ecole Polytechnique de Montreal) with 30+ years in mining, project management and exploration.
Chief Operating Officer of Abcourt Mines Inc.
Chief Financial Officer of Abcourt Mines Inc.; CPA with three decades of experience in public mining companies, project startups and financial structuring.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Director and 10% holder Noureddine Mokaddem bought roughly CA$2.1 million of Abcourt Mines stock on the open market in late October 2025, a real and sizeable insider purchase, though no producer, major, or resource-specialist fund holds a stake in the company.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Abcourt Mines is restarting the 100%-owned Sleeping Giant gold mine in Quebec's Abitibi region, where it poured first gold on 11 September 2025, and also holds the Discovery and Flordin gold deposits near Lebel-sur-Quévillon. Measured and indicated resources across the three deposits contain 485,700 oz of gold (8,000 oz measured and 477,700 oz indicated), including 173,300 oz at Sleeping Giant, 177,700 oz at Discovery and 134,700 oz at Flordin, plus 611,700 oz inferred. The June 2023 preliminary economic assessment for Sleeping Giant shows an after-tax NPV5% of US$41.8M (CAD 54.4M) and a 33.3% IRR at US$1,800/oz gold, with a 5.8-year mine life and average production of about 30,100 oz a year. The operation is still ramping up and the company has not declared commercial production: in the quarter ended 30 June 2026 it milled 11,891 t and produced 720 oz of gold, and it aims to sustain production through December 2026. Glencore buys all of Sleeping Giant's gold-silver doré under a January 2026 offtake agreement, and in August 2026 Abcourt agreed a non-binding term sheet with Glencore to upsize its senior secured debenture.