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Author Topic: RIC - Richmont Mines, Inc. - AMEX  (Read 5357 times)
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« on: December 25, 2008, 09:09:04 PM »


Daily Chart:  http://stockcharts.com/h-sc/ui?s=RIC&p=D&b=5&g=0&id=p11530901891

Weekly Chart:  http://stockcharts.com/h-sc/ui?s=RIC&p=W&b=5&g=0&id=p51367614034

News:  http://finance.yahoo.com/q/h?s=RIC+Headlines

Business Summary:  Richmont Mines Inc. engages in the acquisition, exploration, development, and operation of mineral properties, principally gold in Canada. It operates the Beaufor Mine in Quebec and the Island Gold Mine in Ontario, as well as engages in the development of the Francoeur Mine in Quebec. The company’s exploration properties include Louvem 117, Norex, Arncoeur, Lac Fortune, The Chimo Group, Monique, Camflo North West, and Wasamac in Quebec; and Sewell and Cripple Creek in Ontario. It also operates the Camflo Mill in Quebec. The company was formerly known as Ressources Minières Rouyn Inc. and changed its name to Richmont Mines Inc. in June 1991. Richmont Mines Inc. was founded in 1981 and is headquartered in Rouyn-Noranda, Canada.
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« Reply #1 on: February 26, 2009, 10:02:57 AM »

Richmont Mines Reports Record Sales For The Fourth Quarter And Full Year 2008
Thursday February 26, 2009, 8:30 am EST

- Fourth quarter revenue more than doubled to $22.9 million

- Full year revenue increased 85% to $70.6 million

- Gold sales at 70,945 ounces were 54% above 2007

- Acquisition of Patricia Mining completed in the fourth quarter


Richmont Mines Inc. (Toronto:RIC.TO - News)(NYSE ALTERNEXT US: RIC), a gold exploration, development and production company with operations in Canada, today announced financial and operational results for its fourth quarter and year ended December 31, 2008. Financial results are based on Canadian GAAP and dollars in Canadian currency, unless otherwise noted.

Revenue for the fourth quarter of 2008 was $22.9 million, a 122% increase compared with $10.3 million in the fourth quarter of 2007. Net income for the fourth quarter of 2008 was $2.1 million, or $0.09 per share, compared with a net loss of $1 million, or $0.03 per share, in the fourth quarter of 2007, as the significant revenue increase in the 2008 fourth quarter more than offset increased operating and exploration costs.

Total precious metals revenue was up $12.6 million, or 148%, to $21.1 million in the fourth quarter of 2008 compared with $8.5 million in the fourth quarter of 2007 as a result of a 102% increase in ounces of gold sold combined with 23% higher selling prices per ounce in Canadian dollars. In the 2008 fourth quarter, 22,116 ounces of gold were sold at an average price of US$897 (CAN$956) per ounce compared with 10,949 ounces of gold sold in the same period last year at an average price of US$724 (CAN$778) per ounce.

http://finance.yahoo.com/news/Richmont-Mines-Reports-Record-iw-14476675.html
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« Reply #2 on: March 31, 2010, 09:06:01 AM »

Richmont Mines Inc. Announces Intention to Acquire Louvem Mines Inc.

Mar 31, 2010 08:14 ET

MONTREAL, QUEBEC, CANADA--(Marketwire - March 31, 2010) - Richmont Mines Inc. ("Richmont") (TSX:RIC)(NYSE Amex:RIC) and Louvem Mines Inc. ("Louvem") (TSX VENTURE:LOV) jointly announced today that Richmont has notified Louvem that it intends to acquire all of the issued and outstanding shares of Louvem that are not currently owned by Richmont (the "Transaction"). Richmont holds approximately 70% of the shares of Louvem. Richmont has entered into support agreements whereby certain Louvem shareholders holding approximately 54% of the Louvem shares not already owned by Richmont have agreed to support the Transaction.

Richmont has delivered a letter to the independent directors of Louvem requesting that Louvem form a special committee and retain a financial advisor to assess the terms of the Transaction.

Under the proposed Transaction, holders of shares of Louvem would receive one share of Richmont for each 5.4 shares of Louvem held by them. Such consideration represents a value of $0.76 per Louvem share and is a premium of approximately 48% to Louvem shareholders, based on the respective closing prices on the TSX-V and the TSX of the Louvem shares and the Richmont shares on March 30th, 2010.

The Transaction remains subject to the approval of the Board of Directors of Louvem, regulatory approvals, the execution of definitive documentation and the approval of the Louvem shareholders. Richmont expects to issue approximately 1.4 million shares if the proposed Transaction is completed. There can be no assurance that the Transaction will be completed.

http://www.marketwire.com/press-release/Richmont-Mines-Inc-Announces-Intention-to-Acquire-Louvem-Mines-Inc-TSX-RIC-1140547.htm
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« Reply #3 on: April 12, 2010, 08:38:25 AM »

Richmont Mines Hits 73.54 g/t Au Over 7 Metres at Its Cripple Creek Property

April 12, 2010

Richmont Mines Inc. (TSX: RIC)(NYSE Amex: RIC)("Richmont" or "the Company") is pleased to announce preliminary assay results from the surface drilling program at the Company's 100%-owned Cripple Creek property, located west of the Timmins Gold Deposit in Ontario. Exploration results obtained so far are very promising and confirm the overall potential of this asset.

http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=MW&date=20100412&id=11399644
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« Reply #4 on: April 13, 2010, 01:27:38 AM »

Nice little gain again today but a word of caution, it is overbought...
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« Reply #5 on: May 18, 2010, 05:52:52 PM »

Richmont Mines Inc. Announces Execution of an Acquisition Agreement With Louvem Mines

05/18/10

Richmont Mines Inc. ("Richmont") (AMEX:RIC - News)(TSX:RIC - News) announces that it has entered into an Acquisition Agreement and an Amalgamation Agreement with Louvem Mines Inc. ("Louvem") pursuant to which Richmont will acquire all of the issued and outstanding shares of Louvem not currently owned by Richmont through an amalgamation.

Richmont currently owns approximately 70% of the shares of Louvem. Pursuant to these agreements, Louvem and 9222-0383 Quebec Inc., a wholly-owned subsidiary of Richmont, will amalgamate under Part IA of the Companies Act (Quebec) and the shareholders of Louvem will ultimately receive one share of Richmont for each 5.4 shares of Louvem held (the "Transaction").

Richmont expects to issue approximately 1.4 million common shares if the Transaction is completed. The Transaction must be approved by the holders of a majority of Louvem's shares, excluding those held by Richmont, present in person or represented by proxy at the Louvem shareholders meeting. Louvem shareholders holding approximately 54% of the Louvem shares not already owned by Richmont, have agreed to vote in favour of the Transaction.

http://finance.yahoo.com/news/Richmont-Mines-Inc-Announces-iw-2121493152.html?x=0&.v=1
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« Reply #6 on: November 04, 2010, 08:40:17 AM »

Richmont Mines Reports Solid Growth for Third Quarter of 2010

Nov 04, 2010

Revenue for the third quarter of 2010 was $23.9 million, a 25% improvement over the $19.1 million of revenue generated in the comparable quarter of 2009. Driving this growth was a higher selling price of US$1,244 (CAN$1,288), versus US$921 (CAN$1,052) in the comparable period of 2009, as well as a 7% increase in the number of gold ounces sold to 18,084, from 16,840 gold ounces in the prior year. The combination of these factors resulted in total precious metal revenues increasing by 31% to $23.3 million in the third quarter of 2010 from $17.7 million in the comparable period of 2009.

Higher production resulted in a 10% increase in operating costs, including royalties, to $14.4 million in the third quarter of 2010, from $13.1 million in the same period last year. In the Company's reporting currency, Canadian dollars, the average cash cost per ounce of gold sold increased 2%, reflecting temporary higher milling rates at Island Gold mill due to the replacement of a ball mill at the end of the third quarter, and increased mining costs at the Beaufor Mine due to the greater amount of development necessary to access the ore zones. In the third quarter of 2010, the average cash cost per ounce of gold sold was US$769 (CAN$796), versus US$683 (CAN$780) in the third quarter of 2009.

Exploration and project evaluation costs totalled $2.7 million in the third quarter of 2010, up slightly from $2.5 million in third quarter of 2009. This reflects expanded exploration spending as a result of programs currently underway on the Wasamac, Beaufor and Cripple Creek properties, the effects of which were offset by an increase in exploration tax credits to $0.9 million in the current quarter versus $0.2 million in the comparable period of 2009.

Richmont generated earnings of $2.5 million, or $0.08 per share, in the third quarter of 2010, a notable improvement over the $0.2 million, or $0.01 per share, in the third quarter of 2009.

http://www.marketwire.com/press-release/Richmont-Mines-Reports-Solid-Growth-for-Third-Quarter-of-2010-TSX-RIC-1347017.htm
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« Reply #7 on: December 22, 2010, 09:11:54 AM »

Richmont Signs Option Agreement With SOQUEM to Consolidate Ownership of Monique Property

Dec. 22, 2010

Richmont Mines Inc. (TSX:RIC)(NYSE Amex:RIC), ("Richmont" or the "Company") is pleased to announce that it has entered into an option agreement (the "Agreement") with SOQUEM Inc. ("SOQUEM") to acquire the remaining 19% interest of the Monique property (the "Property").

Martin Rivard, President and CEO of Richmont Mines, commented: "We are pleased to announce that we have signed an option agreement with SOQUEM that will enable us to increase our ownership of the Monique property to 100%, giving Richmont more flexibility over the future development of this asset. We plan to complete 5,500 metres of definition drilling in the first quarter of 2011."

Transaction details

Under terms of the option agreement with SOQUEM, Richmont paid an amount of CAN$350,000 upon signing the Agreement, and has undertaken to complete exploration work in the amount of CAN$400,000 on or before February 28, 2011, in order to acquire the residual 19% interest of the Monique property. Richmont anticipates that a minimum of CAN$200,000 will have been spent on December 31, 2010. Once the required exploration work has been completed and accepted by SOQUEM, Richmont will have successfully met the option agreement conditions, and will therefore assume ownership of SOQUEM'S residual 19% interest of the Monique property. In the event that the amount of CAN$400,000 is not spent within the required timeframe detailed above, Richmont may, at its discretion, remit the outstanding amount directly to SOQUEM, thereby enabling the Company to meet all of the conditions set out in the Agreement.

Terms of the agreement also stipulate that Richmont, upon acquiring SOQUEM's interest, will grant a 0.38% NSR (Net Smelter Return) royalty to SOQUEM in the event that the property reaches commercial production. Similarly, Richmont has agreed to assume 100% of royalty obligations (versus 81% previously) that exist on 8 out of the property's 18 claims, once Richmont has successfully earned 100% ownership of the property. These royalties, payable to Exploration Concorde Ltd., are equal to 5% NPI (Net Profit Interest).

http://www.marketwire.com/press-release/Richmont-Signs-Option-Agreement-With-SOQUEM-Consolidate-Ownership-Monique-Property-Provides-TSX-RIC-1372849.htm
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« Reply #8 on: December 20, 2011, 11:39:24 AM »



Richmont Mines Releases Resource Estimates At Monique Project

December 20, 2011

Indicated open pit resource estimates at Richmont Mines' Monique property totaled 728,164 metric tons grading 2.35 g/t gold, which is expected to produce 55,112 ounces of gold, the company says. The property is located near Val d’Or, Quebec, Canada. “Work on our Monique project progressed well during 2011, and we are pleased with the potential that this property offers,” says Martin Rivard, president and chief executive officer of Richmont.

“We have submitted the documentation required for the permitting of a small open pit operation on this property, and look forward to further advancing Monique once all authorizations have been received.” Eight thousand one hundred seventeen meters have already been drilled at on-site, which is in addition to another 1,700 meter drill program that began in December. Richmont is a Canadian-based gold mining company with projects located in Quebec and has produced over 1.2 million ounces gold since the company began production in 1991.

http://www.kitco.com/reports/KitcoNews20111220_MM.html
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« Reply #9 on: August 23, 2012, 01:24:42 PM »

I alerted this one a little bit ago on the general pinchers, it's definitely pinching now.   Too late to buy now tho, pinch may be over.
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« Reply #10 on: August 23, 2012, 01:34:35 PM »

I alerted this one a little bit ago on the general pinchers, it's definitely pinching now.   Too late to buy now tho, pinch may be over.

The pinch took place a month ago on the daily chart... It is just starting today on the weekly chart...

http://forums.drpennystock.com/vegas-gold-stocks-trading-forum/ric-richmont-mines-incorporated-amex/msg33923/#msg33923
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« Reply #11 on: August 23, 2012, 02:35:59 PM »

Oh whoops, I was looking at the wrong chart haha. 
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« Reply #12 on: September 26, 2012, 08:21:14 PM »

Richmont Mines Inc. Closes CAN$26 Million Private Placement

September 26, 2012

Richmont Mines Inc., announces the completion of a non-brokered private placement (the "Private Placement" or the "Offering") with four institutional funds. Further to the Offering, the Corporation issued 5.97 million common shares ("Common Shares") at CAN$4.35 per Common Share, for a total cash consideration of CAN$26.0 million. Following the Offering, the Corporation's shares outstanding increased from 33.6 million to 39.6 million, its cash position is approximately CAN$60 million, and the Corporation has essentially no long-term debt.

Richmont paid a 4% finder's fee to an arm's length party in connection with a portion of the Private Placement. Net proceeds of the Offering will be used for working capital purposes and to fund its future growth. Paul Carmel, President and CEO of Richmont commented: "We are pleased to be able to strengthen our already sound financial situation and to welcome several new high quality institutions to our registry with this Offering. We look forward to providing the market with updates of our extensive exploration and project advancement efforts as work progresses throughout the remainder of 2012 and into 2013."

http://www.marketwire.com/press-release/richmont-mines-inc-closes-can26-million-private-placement-nyse-amex-ric-1706125.htm
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« Reply #13 on: November 23, 2012, 10:08:18 AM »


Latest Drill Results At Island Gold Mine Continue To Confirm Potential At Depth

Nov 22, 2012

Richmont Mines Inc. is pleased to announce additional results from its deep drilling program on its 100% owned Island Gold Mine property.

Highlights:
•New drill results include (all cut grades over true widths): 26.09 g/t Au over 9.55 metres, 10.29 g/t Au over 5.19 metres, and 10.40 g/t Au over 5.06 metres. These intersections are all located in the C Zone, an extension at depth of the current mining horizon.

Paul Carmel, President and CEO, commented: "These results reaffirm our preliminary assessment that the C Zone appears to be an extension at depth of the zone currently being mined closer to surface at Island Gold. The latest results continue to demonstrate good continuity of the zone, with improved grades over what we are experiencing in our current operations. Our objective is to complete an initial resource calculation on this area in Q1 2013.

http://finance.yahoo.com/news/richmont-mines-inc-latest-drill-130000140.html
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« Reply #14 on: July 31, 2013, 11:56:02 AM »


Richmont Mines Announces Successful Monique Bulk Sample; Mineral Reserve Estimate Established, Proceeding to Commercial Production

July 31, 2013

Richmont Mines Inc., is pleased to announce a successful completion of the bulk sampling phase for its Monique Gold Project ("Monique" or the "Project"), an open-pit operation located 25 km east of Val-d'Or, Quebec. The bulk sample was processed at the Corporation's 100%-owned Camflo Mill, located approximately 50 km from the Project. As a result, the Corporation has established estimated mineral Reserves for the Project, and has made a decision to proceed to commercial production.

Highlights:
•8,494 tonne Monique bulk sample generated 717 ounces of gold with a head grade of 2.76 g/t and a mill recovery rate of 95.1%; Project metallurgy and geological model confirmed; open-pit Proven and Probable Reserves of 485,737 tonnes, grading 2.29 g/t for 35,698 ounces of gold established at the Project;
•Three month pre-production phase from July 1 through September 30 expected to generate approximately 3,500 ounces of non-commercial gold production from a total of 52,500 tonnes during the third quarter of 2013;
•Commercial gold production of 4,500 ounces expected over October to December period from the Project; Richmont's 2013 gold production forecast increased to 72,000 ounces.
•Estimated life of mine ("LOM") commercial gold production of 30,000 ounces, over 19 months, at an average cash cost per ounce of CAN$904.

Paul Carmel, President and CEO of Richmont commented: "The bulk sampling phase of Monique was completed as expected, and we are pleased that it has confirmed our metallurgical and geological expectations for the Project. The addition of 22,500 tonnes per month from Monique will translate into efficiency improvements and lower unit cost levels at our Camflo Mill, which is currently operating at full capacity with material from our Beaufor, W Zone and now Monique operations. With the Project in the pre-production phase as of the beginning of July, we will continue to ramp up production levels through the end of the summer, and look forward to declaring commercial production on this project at the beginning of October."

Results from the 8,494 tonne bulk sample phase correlated with metallurgical expectations, generating a mill recovery rate of 95.1%, and have confirmed the Corporation's geological model for the Project. As a result, Richmont has established open-pit Proven and Probable Reserves for the Project at July 1, 2013, of 35,698 ounces, as detailed in Table 1. In addition, the Monique Gold Project has estimated underground Indicated Resources of 16,858 ounces located directly beneath the open-pit. The Corporation will file an updated 43-101 technical report on SEDAR (www.sedar.com) within 45 days of this release.

http://finance.yahoo.com/news/richmont-mines-announces-successful-monique-123000181.html
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