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7/13/15

Richmont Mines 2q15 production

Once again, on reading the quarterly production numbers out of Richmont Mines (RIC.to) I wonder what all the fuss is about. I mean I get all the Renaud Adams and Island Mine transformation opportunity and that, but it also has more than a little of that classic Canadian BS-brokerage pumpo look and feel about it, emperors and clothes and jam tomorrow.


So, 26,314 oz gold produced this quarter and 27,566 oz sold, but these aren't cheap ounces either folks, this is your actual breakeven/near-breakeven mine at current gold prices. Why do I get the feeling that the whole thing was a 2014 PR operation designed to get the February 2015 equity placement done?