Referenced Stocks

Richmont Mines Obtains Mining Permits for Monique Gold Project; Shares Pop 5% But Near Low

By Midnight Trader,  January 09, 2013, 11:14:05 AM EDT

Richmont Mines Inc. ( RIC ) has received the required mining permits for its wholly owned Monique Gold Project located in Val-d'Or, Quebec.

RIC will begin overburden removal shortly, with a view to extracting a 5,000 tonne bulk sample to be processed at its 100%-owned Camflo Mill in 2013. If the results from the bulk sampling phase are favourable, open pit mining and milling would proceed over the following two-year period, the approval for which is inclusive in the permit. The open pit phase could potentially be followed by an underground phase, for which a permit amendment would need to be obtained.

RIC is up 5.3% at $3.18, trading in a 52-week range of $2.71 - $12.91. Shares have fallen 72% in the last 12 months.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: RIC



Latest News Video



Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%