Richmont Mines Inc. (AMEX:RIC) was founded in 1981. Its predecessor was Resources minières Rouyn inc., which was changed to its current name in 1991. It is headquartered in Rouyn-Noranda, Canada and has 435 full-time employees. A gold mining company located in Ontario and Quebec.
On November 23, 2017, Alamos Gold Inc. announced that it had completed the acquisition of all issued and outstanding shares of Richmont Mines Inc.. The latter’s stock is delisted!
Richmont Mines Inc. (RIC):
Richmont Mines is mainly engaged in mining, exploration, and development of mining resources.
1. There are 2 gold mines (and 1 processing plant) in the commercial mining stage:
- 100% interest in the Beaufor mining area in Quebec, Canada: underground gold mine, covering an area of 5.91 km 2 (591 hectares), more than 500,000 ounces have been mined since 1996, and reserves as of the end of 2015:
- 100% interest in the Island Gold mining area in Ontario, Canada: a high-grade underground gold mine covering an area of 77.0 Km 2 (7,696 hectares). Since it was put into operation in October 2007, it has produced more than 320,000 ounces. Reserves as of the end of 2015:
- Camflo Mill, Quebec, Canada: 1200 tons/day depending on the processing capacity.
2. There is one gold mine in the advanced development stage: Wasamac Mine in Quebec
In May 1986, Richmont Mines acquired a 50% interest in the mine from Lac Minerals for US$5 million. In 1992, it acquired all 100% interest, covering an area of 7.58 km 2 (758 hectares). In 1994, due to unfavorable economic conditions, exploration was suspended after surface drilling was completed. Later, in 2002-2004, all exploration was completed and a report was issued ( as of December 31, 2012 ):
3. Richmont Mines Inc. gold reserves
As of December 31, 2015, the Island Gold mining area has proven reserves of 561,700 ounces of gold, while the Beaufor mining area has 63,850 ounces of gold reserves.
Richmont Mines Inc. (RIC) investment:
Delisted due to acquisition!