RE: Richmont Closes Mine Richmont has a history of investing in narrow vein mines and seemed to have made a terrible mistake by putting resources into the reopening of their Francoer mine and closing it almost immediately due to high costs. It is reported that new management are seeking higher grade mining projects.
After a 25% SP fall last Friday, the $2.86 sp gives is a cap of $113m. However, that includes $66m cash at the end of Q3 – more than the cap of Metanor.
Could there be some synergy between RIC and MTO – a lot could be done at Barry with $66m and RIC needs to use its cash productively.
From the RIC board
Their Total Assets minusTotal Liabilities, plus the $28 million Private Placement are worth more than their total market cap, based on the Nov. 30. 2012 closing share price.
Their $66 million in cash plus the $28 million Private Placement is worth over $2.35 per share.
I'd watch them carefully for a possible investment, especailly if gold moves higher.
Read more at https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31848806&l=0&r=0&s=ric&t=list#DVLmWRjgrtCigIpY.99