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UPDATE: Richmont Mines Receives Mining Permit for Monique Gold Project; Stock Edges Up 1%

Richmont Mines Inc. (RIC.TO) has received the required mining permits for its 100%-owned Monique Gold Project located in Val-d'Or, Quebec.

The company 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 2 year period, the approval for which is inclusive in the permit.

RIC edged up by 2 cents, or about 1%, to $3.03. It is trading closer to the lower end of 52-week range $2.69-$12.98.

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

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

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