Abcourt-Barvue closed

Citing low silver prices, decreasing grades and high costs, Abcourt Mines (ME) says it will close its Abcourt-Barvue silver mine in Quebec at the end of March.

A major operating cost was incurred from trucking mill feed 143 miles to a mill in Matagami for custom processing. This, Abcourt says, represented 25% of the mine’s operating costs.

Also, the company had no money for stope development — crucial for maintaining mining and milling rates. The company says the remaining reserves will require a much higher silver price in order to be considered economic. Abcourt is also seeking a joint venture partner to fund an exploration program on the property.