Key Developments: Richmont Mines Inc (RIC.TO)

RIC.TO on Toronto Stock Exchange

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31 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Richmont Mines Inc raises FY 2014 production outlook
Monday, 14 Jul 2014 07:59am EDT 

Richmont Mines Inc:Says it is revising its FY 2014 production guidance upward to 75,000 to 85,000 ounces of gold from 70,000 to 80,000 ounces previously.  Full Article

Richmont Mines announces departure of CEO and appointment of interim CEO
Wednesday, 2 Jul 2014 05:29pm EDT 

Richmont Mines Inc:Announces that Paul Carmel, Richmont's President and Chief Executive Officer, has been relieved of his duties with the Corporation effective immediately.Elaine Ellingham has been appointed interim President and CEO.  Full Article

Richmont Mines Inc reaffirms FY 2014 production guidance
Thursday, 8 May 2014 08:01am EDT 

Richmont Mines Inc:Expects FY 2014 production forecast of 70,000 ounces to 80,000 ounces of gold.  Full Article

Richmont Mines closes previously announced bought deal financing of common shares
Wednesday, 23 Apr 2014 08:55am EDT 

Richmont Mines Inc:Closes bought deal financing previously announced on April 3.Says it has Issued a total of 8.05 mln common shares at a price of C$1.45 per share.Including over-allotment option of 1.05 mln common shares, on a bought-deal basis, for aggregate gross proceeds of $11,672,500, through a syndicate of underwriters lead by Macquarie Capital Markets Canada Ltd. and including BMO Nesbitt Burns Inc, CIBC World Markets Inc and Desjardins Securities Inc.Proceeds from the Offering will be used for working capital and general corporate purposes.  Full Article

Richmont Mines Inc gives FY 2014 production guidance
Tuesday, 11 Feb 2014 07:59am EST 

Richmont Mines Inc:Expects fiscal 2014 production forecast of 70,000 ounces to 80,000 ounces of gold.  Full Article

Richmont Mines Inc Enters Land And Mining Rights Agreement With Argonaut Gold Inc
Wednesday, 16 Oct 2013 07:30am EDT 

Richmont Mines Inc announced that has signed a land and mining rights agreement (the Agreement) with Argonaut Gold Inc. (Argonaut), owner of the Magino Gold Project that is adjacent to the Corporation's Island Gold Mine near Dubreuilville, Ontario. The Agreement will enable Richmont to extend the western boundary of its Island Gold Deep Project by a distance of 585 metres thus increasing the project's exploration potential towards the west. Mining rights below a depth of 400 meters were also secured on several claims to the south of the Island Gold Deep project, thus adding to the project's exploration potential at depth. As part of the Agreement, Richmont will acquire Claim SSM 722481 in its entirety, which immediately abuts Island Gold's Localsh Zone, where reserves and resources currently exist and where mining is currently taking place. In exchange, Argonaut will receive exploration and mining rights from surface to a maximum depth of 400 metres on certain Richmont claims that border the Magino Gold Project, providing it with greater flexibility in its project development. The rights that Richmont will be transferring to Argonaut in no way affect the current operation at the Island Gold Mine or the Island Gold Deep Project. Under the terms of the Agreement, Richmont will receive a net payment of CAD2.0 million in cash from Argonaut upon completion of the land transactions.  Full Article

Richmont Mines Inc Closes Previously Announced Senior Credit Facility For Up To CAD50 Million With Macquarie Bank Limited
Friday, 23 Aug 2013 09:21am EDT 

Richmont Mines Inc announced that it has closed the Senior Secured Credit Facility (the "Facility") for up to CAD50 million with Macquarie Bank Limited ("MBL" or "Macquarie") previously announced on June 17, 2013. The Corporation plans to use the Facility to fund the long-term development of the Island Gold Deep project and for working capital commitments at the Island Gold Mine in Dubreuilville, Ontario. The Facility is being provided in Canadian dollars, is subject to an interest rate of CDOR plus 700 basis points, and may be prepaid, in whole or in part, at any time without penalty, subject to standard break costs. The Corporation may request that the interest rate be fixed for the term of the Facility. All figures are in Canadian dollars, unless otherwise noted.  Full Article

Richmont Mines Inc Secures Letter Of Offer For Senior Secured Credit Facility
Monday, 17 Jun 2013 07:30am EDT 

Richmont Mines Inc announced that it has secured a Letter of Offer for a Senior Secured Credit Facility for up to USD50 million from Macquarie Bank Limited (MBL or Macquarie) to fund the long-term development of the Island Gold Deep project, and for working capital commitments at the Island Gold Mine (collectively known as the Project) in Dubreuilville, Ontario. At the option of the Corporation, the Facility may be provided in either US dollars or Canadian dollars, subject to an interest rate of USD LIBOR plus 700 basis points (bps) or CDOR plus 700 bps, respectively.  Full Article

Richmont Mines Inc Announces Appointment Of Mr. Pierre Rougeau As Chief Financial Officer-DJ
Monday, 26 Nov 2012 08:00am EST 

Dow Jones reported that Richmont Mines Inc. announced the appointment of Pierre Rougeau to the position of Executive Vice-President and Chief Financial Officer (CFO), effective December 3, 2012. Mr. Rougeau will be based at Richmont's corporate office in Montreal.  Full Article

Richmont Mines Inc Closes CAD26 Million Private Placement
Wednesday, 26 Sep 2012 05:07pm EDT 

Richmont Mines Inc announced the completion of a non-brokered private placement (the Private Placement or the Offering) with four institutional funds. Further to the Offering, the Corporation issued 5.97 million common shares (Common Shares) at CAD4.35 per Common Share, for a total cash consideration of CAD26.0 million. Following the Offering, the Corporation's shares outstanding increased from 33.6 million to 39.6 million, its cash position is approximately CAD60 million, and the Corporation has essentially no long-term debt. Richmont paid a 4% finder's fee to an arm's length party in connection with a portion of the Private Placement. Net proceeds of the Offering will be used for working capital purposes and to fund its future growth. All Common Shares issued under the Offering are subject to a hold period in Canada of four months from the closing date of the Offering in accordance with applicable Canadian securities laws, expiring on January 27, 2013.  Full Article

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