Richmont Mines Inc.

Richmont Mines has produced over 1.5 million ounces of gold in Canada since beginning production, has a solid financial position, limited long-term debt and under 50M shares outstanding. The Corporation currently produces gold in Quebec, as well as in Ontario where it is developing the deep resource extension of its Island Gold Mine. As at December 31, 2013, this estimated deep resource contained Inferred resources of 3.2M tonnes grading 9.29 g/t Au for 169,000 ounces, and additional Indicated resources of 456,000 tonnes grading 11.52 g/t Au for 955,000 ounces. Richmont is focused on transforming Island Gold into a long-life, high production and low cost operation, able to potentially deliver years of industry-leading high-quality growth from a mining-friendly and safe jurisdiction.

Expert Comments:

Jeff Wright, H.C. Wainwright & Co. (1/20/15)
"Richmont Mines Inc. announced Q4/14 and FY/14 gold production figures. For the year, the company produced 95,208 oz exceeding our estimate of 88 Koz gold production for the year. . .while management guided for lower production in 2015, we think it is worthy to note Richmont is expected to be primarily focused on the development of the Island Gold mine, where higher gold grades could lead to enhanced production over the long term. . .we are reiterating our Buy recommendation while increasing our price target to $3.75/share."

Michael Gray, Macquarie Capital Markets (1/16/15)
"Yesterday, before market open, Richmont Mines Inc. announced 2015 production guidance of 78–88 Koz Au, generally exceeding our estimate of 79 Koz Au due to higher-than-expected C zone ore feed of a maximum of 30% (our estimate, 18%). . .we continue to have a high conviction that the company's C zone discovery at the Island Gold mine is a transformative, high-grade/high-margin, long mine life asset."

Canaccord Genuity's Morning Coffee (1/16/15)
"Shares of Richmont Mines Inc. jumped after the gold miner reported 2014 gold production of 95,208 oz, a 45% increase over the 2013 level. . .2015 forecasted production is 78–88 Koz. . .total planned 2015 capital expenditures are $56.3M, with $48.3M focused on operation and development of the Island Gold mine."

Kevin Chiew, CIBC World Markets (1/16/15)
"We believe Richmont Mines Inc.'s 2015 guidance and, more importantly, the development plans for Island Gold, represent an essential milestone, providing much needed clarity and a step toward unlocking the true value and potential of the company's key growth asset. One of the key pieces of work that will begin to bring everything together will be milling and mining studies, with the most viable scenario to be advanced to a PEA by 2015E."

Brian Szeto, PI Financial (1/15/15)
"Richmont produced 23,854 oz gold in Q4/14, which came in better than our estimate of 22 Koz. As a result, the company produced a total of 95,208 oz gold for the full year, which exceeds their 2014 guidance of 85–90 Koz. . .we view the Q4/14 results positively."

"We like smaller Canadian producers such as Richmont Mines Inc. because of the currency advantage. Richmont is well managed and has a bright future. . .Richmont is developing a deep, high-grade zone at its Island gold mine. At around 9.5 g/t, this zone is almost double the 5.5 g/t of the upper zone that it has been mining. We expect this high grade will drive strong cash flow and earnings for some time." read more >

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Investing Highlights
 
Significant long-term production upside with low risk in Ontario
 
Developing million ounce gold resource below producing Island Gold Mine
 
20+ years of gold production experience in Canada
Richmont Mines Inc. Content