At this point, everyone you know has likely been directly or indirectly affected by Covid-19. While health is of upmost importance in a time like this, one sometimes can overlook the economic woes that a global pandemic can have on certain industries/businesses. The headlines are beginning to look grim again as global cases have been on the rise, however, through all this negativity there are bits of good news that can be sifted out.
Abcourt Mines Inc. (TSX-V:ABI) was happy to announce this morning the restarting of mining activities since the mandatory Covid-19 closure has been vigorous. The company has been optimistic in the sense that due to the higher price of gold, it has been able to not only survive this challenging time, but thanks to the higher price in gold it has available cash to extend its exploration drifts on the fourth, 10th and 11th levels of the Elder mine and work on the rehabilitation and development at the Sleeping Giant mine.
This news was welcomed by traders hoping to extend the impressive uptrend over the last year, with shares trading up to $.225/share or 4.6% DoD in early trade. While gold miners have been in the news quite a bit, I think it is still important to note those who have potential to expand their operations even during a global pandemic. The company is currently focused on gold, while stating at the Elder mine, their objective is to increase production to 12,500 tonnes per month of gold ore in order to capitalize on the appreciation of the precious metal.
