GREY:RNKLF - Post by User
Post by
factRbeston Jul 12, 2016 7:53am
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Post# 25043556
Potential of "Transformational"
Potential of "Transformational"So far the word "transformational" has been valued at approximately 20 million dollars.
Below is an example of the potential of true transformation.
https://www.stockhouse.com/companies/quote?symbol=t.ric https://www.stockhouse.com/news/press-releases/2016/07/12/richmont-reports-strong-second-quarter-results-from-island-gold-consolidated TORONTO, July 12, 2016 /PRNewswire/ --
Richmont Mines Inc. (TSX: RIC) (NYSE MKT: RIC) ("Richmont" or the "Corporation"), reports that the Island Gold Mine delivered another strong quarter of operational results that contributed to second quarter consolidated production of 23,320 gold ounces at cash costs of $903 per ounce (US$701 per ounce). (All amounts are in Canadian dollars unless otherwise indicated).
HIGHLIGHTS FOR THE SECOND QUARTER
- The Island Gold Mine produced 18,617 ounces of gold, a 24% increase over the prior year period. Company-wide production was 23,320 ounces for the quarter, an 11% decrease over the prior year period, mainly as a result of the depletion of the Monique stockpile earlier this year.
- The Island Gold Mine reported record underground and milling productivity of 911 and 878 tonnes per day, respectively.
- Cash costs[1] for the Island Gold Mine were $766 per ounce (US$595 per ounce), a significant 20% decrease over the prior year period and well below current guidance estimates. Company-wide cash costs for the quarter were $903 per ounce (US$701 per ounce), a decrease of 7% over the prior year period and below current guidance estimates.
- Revenues for the quarter were $40.6 million (US$31.5 million), at an average realized gold price of $1,628 per ounce (US$1,263 per ounce).
- Richmont ended the quarter with a cash balance of $96 million (US$74 million) that includes net proceeds of $29 million (US$23 million) related to a bought-deal prospectus financing that was completed on June 7, 2016.