| Richmont Mines Inc - RIC.t currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Company is advancing development of a significant high-grade resource extension at depth of the Island Gold Mine.|
The company reported Q1 production of 32,369oz at non-AISC cash costs of $806
Richmont Mines Inc. is providing a status update on an expansion-case preliminary economic assessment currently under way for the Island gold mine located in Northern Ontario, Canada. The expansion-case PEA is expected to be released in the first half of 2017 in order to incorporate the 2016 year-end resource estimates and will consider a potential ore mining and mill processing rate increase to 1,100 tonnes per day beginning in 2018, with minimal capital investment being required.