Richmont Mines Inc.

Richmont Mines has produced over 1.5 million ounces of gold in Canada, and currently operates the Island Gold and Beaufor mines. The Corporation is developing a high-grade million ounce Inferred resource below its producing mine in Ontario, thereby laying the foundation to become a lower-cost, long-life gold producer in a mining-friendly and safe jurisdiction. By unlocking the value of this asset, Richmont will be well-positioned to generate greater free cash flow and annual gold production, and to deliver years of high-quality growth. Richmont has over 20 years of gold production experience, a solid financial position, and less than 60 million shares outstanding.

Expert Comments:

"Another company with new management doing the right things is Richmont Mines Inc. Recently, Renaud Adams joined Richmont as president and CEO, and he is highly respected on the street. In addition, Renaud is a board member of Klondex Mines where he has helped oversee its success. With the higher grades Richmont is encountering at Island Gold Deep, I believe the company has a much more robust asset to work with now." read more >

Hebba Investments, Seeking Alpha (3/10/15)
"On both a core and core non-tax costs basis, Richmont Mines Inc. did an excellent job in FY14 lowering its costs to some of the lowest in the industry. . .the key to FY15 will be the delineation and development of Island Gold Deep and not production costs, so investors should follow these events closely."

Brent Cook, Exploration Insights (3/8/15)
"I consider a speculation in Richmont Mines Inc. to be an exploration play with obvious upside in a safe jurisdiction. There is the potential for 2 Moz or more at about 9 g/t gold, lying directly below an operating mine; given the grade and width of the mineralization, production costs should drop significantly."

Michael Gray, Macquarie Capital Markets (3/2/15)
"We are resuming coverage of Richmont Mines Inc. following the close of the CA$38.5M gross proceeds equity financing announced Jan. 20, 2015. . .we would be buyers of the company's stock for its high-grade Lower Extension zone (1 Moz-plus gold, 9 g/t-plus gold) at the Island Gold mine located in one of the world's safest jurisdictions and its leverage to the weakening Canadian dollar. . .Richmont now has approximately CA$67M cash. . .and less than CA$6M debt. With assets expected to generate CA$20M-plus operating cash flow in 2015, Richmont is in a solid position to execute the accelerated growth plan outlined in early January."

Christopher De Sousa, Seeking Alpha (2/26/15)
"Richmont Mines Inc. beat earnings estimates by $0.03 per share on strong gold sales at its Quebec assets. The company doubled its cash position, reflecting a 689% gain in operating cash flows in 2014. . .Richmont Mines sold more gold at lower cash costs per ounce. . .and plans to invest $48.3M in the development of the Island Gold mine this year to access deeper, high-grade resources, which should expand mine life and cash flows. . .we remain bullish on Richmont Mines, as the company positions itself for future growth through expanding its Island Gold operation and improving the cost efficiency at its Beaufor gold mine."

Daniel Earle, TD Newcrest (2/23/15)
"In our view, Richmont Mines Inc. has strong exploration momentum and production growth potential. The company recently appointed a highly reputable new president and CEO in Renaud Adams and bolstered its treasury. With the company trading at a discount to its peer group of small-cap producers, we are initiating coverage with a Buy recommendation."

More Comments

Experts Commenting on This Company

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
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