Be smarter and faster with PRO Alerts on RIC
From other sites
at Zacks.com (Nov 17, 2014)
at CNBC.com (Aug 4, 2014)
There are 3 articles on this stock available only to PRO subscribers.
Update: Richmont Mines Earnings - I Underestimated The Company
- Richmont Mines announces better earnings than expected.
- I’m really surprised as just 12 months ago, the company was still losing money whilst it’s now free cash flow positive in a worse gold price environment.
- I was wrong, and I will likely write an updated in-depth article which will very likely have a positive investment thesis.
Update: Richmont Mines Reports Excellent Q3 Earnings
- Richmont Mines has reported Q3 2014 earnings.
- The results were better than I expected, with the company reporting $8.5 million in operating cash flow and adjusted net earnings of $4.6 million.
- I continue to buy shares of Richmont as I feel this is one of the best junior mining stocks on the market.
Richmont Mines Has Tremendous Upside Potential Because Of Island Gold Deep
- In 2012, Richmont thought it was going to be a 100,000 ounce producer, but that story didn't play out. Now we have a new one, and this one just might.
- I'm bullish on Richmont because of Island Gold Deep, the rest of their mines and projects are just filler.
- Island Gold Deep could produce 100,000 ounces of gold per year for 10 years.
- My valuation for the company just with Island Gold Deep and the net cash on the balance sheet is almost $200 million, its market cap is only $120 million.
Update: Richmont Mines Names Renaud Adams As Its New CEO
- Richmont Mines has named Renaud Adams to the position of President and CEO, effective November 15.
- Adams has 20 years of mining experience, most recently serving as Chief Operating Officer of Primero Mining.
- This is positive news as the company has found an experienced and suitable replacement for its interim CEO.
- I think Richmont is a buy here as the company is a profitable gold producer operating in a safe political environmental, with an exciting high-grade mine.
Update: Richmont Mines Reports Year-To-Date Gold Production Up 68%Hard Asset Investments • Fri, Oct. 10
- Richmont Mines has announced Q3 gold production of 23,187 ounces, a 58% increase from last year.
- In addition, total gold production for the first nine months is 71,354, a 68% increase; cash increased $2 million in the past 3 months.
- The company has therefore increased its 2014 gold production guidance to 85,000 to 90,000 ounces of gold, up from 75,000 to 85,000 ounces.
- This was not expected in my original article and adds to the bullish thesis.
Update: Richmont Mines Will Fast-Track The Island Gold Mine Underground DevelopmentThe Investment Doctor • Tue, Sep. 30
- Richmont will accelerate the ramp construction to access its high-grade deep zone.
- This shouldn't come as a surprise as previous drill programs have indicated the Deep Zone is high-grade and relatively wide.
- Richmont is currently free cash flow positive, so I might have been too harsh in my first article. I will write an in-depth update soon.
- Richmont's CFO has announced his resignation to pursue other opportunities - which is usually a bad sign.
- We think in this case his departure was related to Mr. Carmel's earlier departure, and is simply the company cleaning up the former leadership regime.
- Investors should be awaiting the announcement for the company's new CEO, as that will tell us a lot about the future of the Island Gold Deep deposit.
Update: Richmont Mines Will Drill Some Deep Holes At Island GoldThe Investment Doctor • Tue, Sep. 16
- Richmont Mines has announced a drill program to find more high-grade gold at the Island Gold mine in Ontario.
- This was not unexpected as the 1.1Moz resource estimate was open at depth and along strike, so it makes sense to explore at depth.
- I will very likely have to revise my investment thesis positively as an expanded resource estimate has the potential to change the mine and the company.
Update: Richmont Mines Commences Deep Exploration Drilling At Island Gold DepositHard Asset Investments • Mon, Sep. 15
- Richmont Mines has announced that it is commencing a new exploration drilling program at the Island Gold Deposit; this is in addition to previously planned exploration.
- The new program will consist of four diamond drill holes and will cost $500,000.
- The Island Gold Deposit remains open at depth and along strike; the new drilling will test the down plunge potential to the east of the existing resource base.
- If drilling returns successful results, it could indicate a much larger, high-grade resource at Island Gold; I think Richmont Mines is a buy at current levels.
What It Really Costs To Mine Gold: The Richmont Mines Second Quarter Edition
- Richmont's costs on both a core and a core non-tax basis plummeted in the second quarter to make it one of the lowest cost gold miners.
- This drop in costs on a per ounce basis was due to increased production, grades, and tonnage and thus the significant increase in net income.
- We don't expect the extraordinary second quarter to be repeated as management's production forecasts for the rest of the year aren't particularly high.
Richmont Mines: A Profitable Canadian Gold Producer With A Healthy Balance Sheet, Huge Upside
- Richmont Mines operates three profitable gold mines in one of the best mining jurisdictions in the world.
- The company has a rock-solid balance sheet with $32.6 million cash and only $4.9 million total debt, with profitability increasing at its gold mines.
- With an enterprise value of approx. $51.5 million, 4+ million ounces in gold resources and substantial exploration and production upside, shares are significantly undervalued.
Richmont Mines: 4 Different Insiders Have Purchased Shares This Month
- Four insiders, including the CEO and CFO, purchased Richmont Mines stock within the last 30 days.
- The stock was sold by no insiders in the month of intensive purchasing.
- All four of these insiders increased their holdings by more than 10%.
We currently have no Breaking News on this stock.
RIC vs. ETF Alternatives
Other News & PR