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Last C$3.31 CAD
Change Today -0.07 / -2.07%
Volume 163.9K
RIC On Other Exchanges
Symbol
Exchange
Toronto
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NYSE Amex
As of 3:59 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

richmont mines inc (RIC) Snapshot

Open
C$3.34
Previous Close
C$3.38
Day High
C$3.40
Day Low
C$3.23
52 Week High
01/27/15 - C$4.55
52 Week Low
09/22/14 - C$2.04
Market Cap
192.1M
Average Volume 10 Days
132.7K
EPS TTM
C$0.24
Shares Outstanding
58.0M
EX-Date
--
P/E TM
13.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for RICHMONT MINES INC (RIC)

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richmont mines inc (RIC) Details

Richmont Mines Inc. engages in the mining, exploration, and development of mining properties primarily gold in Canada. It operates three gold mines, including the Beaufor and Monique mines in Quebec; and the Island Gold mine in Ontario. The company is also developing the Island Gold Deep project located in Ontario. As of December 31, 2014, it had proven and probable reserves of 183,750 ounces of gold at the Island Gold Mine; and 32,750 ounces of gold at the Beaufor Mine. The company was formerly known as Ressources minières Rouyn inc. and changed its name to Richmont Mines Inc. in 1991. Richmont Mines Inc. was founded in 1981 and is headquartered in Rouyn-Noranda, Canada.

373 Employees
Last Reported Date: 03/3/15
Founded in 1981

richmont mines inc (RIC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$33.1K
Executive Chairman and Member of Corporate So...
Total Annual Compensation: C$270.0K
Vice-President of Finance
Total Annual Compensation: C$180.2K
Vice President of Exploration
Total Annual Compensation: C$185.4K
Compensation as of Fiscal Year 2014.

richmont mines inc (RIC) Key Developments

Richmont Mines Inc. Announces Consolidated Unaudited Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Revised Production Guidance for 2015

Richmont Mines Inc. announced consolidated unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, revenue was CAD 40,552,000 compared to CAD 38,951,000 a year ago. Operating earnings was CAD 3,560,000 compared to CAD 6,332,000 a year ago. Earnings before mining and income taxes were CAD 3,650,000 compared to CAD 6,363,000 a year ago. Net earnings and total comprehensive income for the period was CAD 2,912,000 or CAD 0.05 per diluted share compared to CAD 4,676,000 or CAD 0.10 per diluted share a year ago. Cash flow from operating activities was CAD 14,677,000 compared to CAD 13,291,000 a year ago. Property, plant and equipment - Island Gold Mine was CAD 6,922,000 compared to CAD 3,884,000 a year ago. Property, plant and equipment - Beaufor Mine was CAD 85,000 compared to CAD 843,000 a year ago. Property, plant and equipment - other was CAD 297,000 compared to CAD 123,000 a year ago. For the six months, revenue was CAD 77,762,000 compared to CAD 68,418,000 a year ago. Operating earnings was CAD 8,314,000 compared to CAD 4,718,000 a year ago. Earnings before mining and income taxes were CAD 8,621,000 compared to CAD 4,804,000 a year ago. Net earnings and total comprehensive income for the period was CAD 7,544,000 or CAD 0.13 per diluted share compared to CAD 2,773,000 or CAD 0.06 per diluted share a year ago. Cash flow from operating activities was CAD 23,807,000 compared to CAD 15,671,000 a year ago. Property, plant and equipment - Island Gold Mine was CAD 15,637,000 compared to CAD 8,381,000 a year ago. Property, plant and equipment - Beaufor Mine was CAD 226,000 compared to CAD 1,445,000 a year ago. Property, plant and equipment - other was CAD 666,000 compared to CAD 691,000 a year ago. Gold production in second quarter 2015 totaled 26,314 ounces, 2% above first quarter levels and 4% below the previous year, driven by a record setting performance from the Island Gold Mine, which achieved quarterly production of 14,997 ounces during the three-month period. Results during the quarter also benefitted from an improved mined grade at the Island Gold Mine. The Quebec operations produced 11,317 ounces of gold during the quarter, 17% below the prior year due to lower mined grades at the Beaufor Mine that are attributable to the higher ore development completed during the period, and lower production from the processing of the Monique stockpile as mid-grade ore was milled following the depletion of the high-grade stockpile at the end of the first quarter. The Beaufor Mine produced a total of 7,082 ounces of gold in the second quarter of 2015, with the reduced year-over-year production attributable to the 27% lower head grade of 6.05 g/t in the current period. Milling of the mid-grade stockpiled Monique ore produced a total of 4,235 ounces in second quarter 2015. As at June 30, the Monique ore stockpile totaled approximately 85,000 tonnes at an average estimated grade of 1.24 g/t Au. The Island Gold Mine produced 25,761 ounces of gold in the first six months of 2015, 18% above the same period in 2014. The Beaufor Mine produced 15,045 ounces of gold in the first six months of the year, a 20% improvement from the first six months of 2014. For the first six months of 2015, Monique produced 11,367 ounces of gold, a 23% improvement over 2014. This increase reflects the strategy to prioritize the milling of higher grade material, which was completed in April, followed by mid-grade material, the milling of which was completed at the end of second quarter 2015. The company has increased its consolidated 2015 production forecast, driven primarily by the better-than-expected performance of the Quebec operations. Annual gold production guidance for 2015 increased to 87,000 - 95,000 ounces, from 78,000 - 88,000 ounces previously, as a result of strong results realized in the first six months of the year.

Richmont Mines Inc. Announces Plans to Proceed with the Development of the Deeper Q Zone at the Beaufor Mine in Quebec

Richmont Mines Inc. announced plans to proceed with the development of the deeper Q Zone at the Beaufor Mine in Quebec. The positive decision is based on a comprehensive analysis of both geological and economic factors, and is expected to extend the mine's life by a minimum of two years with an annual estimated production rate of 20,000 to 25,000 ounces in 2016 and 2017. The deeper Q Zone that will be developed is located approximately 34 vertical metres below the Beaufor Mine's current infrastructure. Due to the zone's close proximity to the mine's existing underground workings, the required development to reach the upper part of the zone is expected to be completed within 6 months and will require only a limited investment of $2.5 million in 2015. This development related expenditure is below the $3.5 million already accounted for in the Corporation's 2015 All-In- Sustaining-Cost ("AISC") guidance.

Richmont Mines Inc. Announces Production Guidance for the Year 2015

Richmont Mines Inc. announced production guidance for the year 2015. For the year the expects gold production to be 78,000 to 88,000 ounces.

 

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