Impact: Positive
Abcourt announced it has completed its first gold pour at its 100%-owned Sleeping Giant mine in Quebec on September 11th. This milestone makes Abcourt Quebec’s newest gold producer. In our view, the company warrants a re-rating as it ramps up towards commercial production at Sleeping Giant (Q2/26). Its goal is to eventually produce 30,000 oz Au/yr. We continue to see numerous ways for Abcourt to grow its resource base and ultimately utilize 100% of the mill capacity over time, which includes resource expansion drilling around the existing mine, exploration drilling on the broader Sleeping Giant project, and leveraging nearby deposits as a source of ore feed. We believe this potential resource growth and a 100% utilization rate as a central hub in the region could enhance the economics and scale of the operation.