Tue, Apr. 12, 10:59 AM
- Richmont Mines (RIC +4.8%) says its Island gold mine in Ontario produced 26.6K oz. of gold during Q1, up 147% Y/Y and up 87% Q/Q, with company-wide production of 32.3K oz. of gold up 25% Y/Y and up 45% Q/Q.
- RIC says production was helped by higher than estimated reconciled grades of 11.31 g/t milled and record mill throughput of 834 metric tons/day.
- Q1 cash costs at Island Gold were C$674/oz., down 52% Y/Y and down 34% Q/Q, with company-wide cash costs of C$806/oz., down 18% Y/Y and down 22% Q/Q.
- RIC also says Q1 revenues totaled a record $52.6M.
- Now read Is Richmont Mines' $300M market cap fair?
Mon, Feb. 22, 12:44 PM
Jan. 21, 2015, 9:58 AM
- Richmont Mines (RIC -3.5%) and Asanko Gold (AKG -9.9%) are lower after each announced multi-million dollar bought-deal financing agreements, the start of what could be a better financing environment after a difficult 2014.
- RIC plans to use proceeds from its financing for an accelerated development plan for the high-grade Deep C zone at its Island gold mine in Ontario; RIC is planning for $56.3M in capex for 2015, with 85% focused on the Island mine.
- AKG says it will use its funds for working capital and corporate purposes to further enhance its balance sheet.
Jan. 15, 2015, 3:48 PM
- Richmont Mines (RIC +15.1%) reports 2014 gold production of more than 95K oz., up 45% Y/Y and above the company's guidance, including Q4 gold output of nearly 24K oz.
- Full-year gold sales of 94.5K oz. was the second highest in the company's history and a 49% increase over 2013.
- RIC's Island gold mine in Ontario produced 42K oz. of gold in 2014, up 21% Y/Y and in line with expectations; RIC expects to complete extensive development work at the mine in 2015 to position it for future growth by unlocking the value of the deeper 1.1M oz. higher-grade resource.
Jan. 15, 2015, 12:45 PM
Oct. 9, 2014, 12:54 PM
- Richmont Mines (RIC +1.9%) says it is raising its FY 2014 gold production guidance to 85K-90K oz. of gold, up from a previous forecast for 75K-85K oz.
- Says Q3 gold production totaled 23,187 oz., up 58% Y/Y, bringing gold production for the first nine months of 2014 to 71,354 oz., up 68% Y/Y.
Aug. 15, 2014, 5:35 PM
Aug. 5, 2014, 12:47 PM
Oct. 17, 2013, 10:55 AM
- Richmont Mines (RIC +4.1%) says its W Zone gold project in Quebec has successfully completed the three month pre-production phase and commercial production has been declared.
- RIC expects W Zone to produce ~3K oz. of commercial gold production during Q4 and projects 12K oz. of commercial gold production in 2014.
Jun. 28, 2013, 12:45 PM
Feb. 25, 2013, 2:59 PM
Richmont Mines (RIC +3.9%) says it added new high grade inferred mineral resources of 508K gold oz. at 10.73 g/t at Island gold mine in Ontario. Preliminary metallurgical testing on representative samples shows a 96% recovery rate. RIC will invest an initial $35M to advance the project in 2013.| Feb. 25, 2013, 2:59 PM
Nov. 30, 2012, 1:04 PM
Nov. 29, 2012, 4:27 PM
Richmont Mines (RIC) -15.7% AH after announcing the immediate closure of the Francoeur Mine in Quebec, prompting a pre-tax write-off of C$11M-C$13M, mostly during Q4. Exploration activities on the Wasamac gold project are suspended. Gold production for 2013 is revised to 65K-70K oz. vs. 85K-95K previously.| Nov. 29, 2012, 4:27 PM
Nov. 23, 2012, 12:45 PM
Sep. 10, 2012, 11:44 AM
Richmont Mines (RIC +2.4%) reports new deep drill results reaffirm promising potential at depth at its Island Gold Mine in Ontario. Drill results suggest the C Zone is the most continuous of the four zones in the deep drilling program, which appears to be a continuation at depth of the zone currently being mined at Island Gold.| Sep. 10, 2012, 11:44 AM
Jul. 3, 2012, 11:36 AM
Richmont Mines (RIC -17.8%) announces a downward revision of reserves and production and says it will take a Q2 writedown of C$25M-C$30M pre-tax related to lower anticipated production from its Francoeur Mine.| Jul. 3, 2012, 11:36 AM | 2 Comments