Richmont Mines, $1.55, symbol RIC on Toronto (Shares outstanding: 39.6 million; Market cap: $61.4 million; www.richmont-mines.com), produces gold from two projects: Beufor in Quebec and the Island Gold mine and mill in northern Ontario. The company also has a number of exploration prospects in Ontario and Quebec.
Richmont aims to start generating positive cash flow from its existing mines. It will then use this cash flow to build both projects’ ore-processing capacity, and to finance drilling to increase their reserves. It also aims to advance its exploration projects. The company currently holds cash of $43.8 million, or $1.11 a share, and has almost no debt.
However, Richmont’s production fell 13.2% in the three months ended March 31, 2013, to 14,261 ounces from 16,430 a year ago. It also reported negative cash flow.
Richmont’s shares have only limited growth prospects and appeal, especially with the recent downturn in gold prices. It’s also scaling back capital spending at the Island Gold mine…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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