Past year: ▲ 35%(8.70 – 11.72 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Nov 2017business combination▲ GoodMajor
The Quebec Superior Court (Commercial Division) gave final approval to the plan of arrangement under which Alamos will acquire all Richmont shares. Closing is still expected on November 23, 2017, subject to regulatory approvals and other customary conditions. The filing does not yet state the shares have been exchanged.
16 Nov 2017business combination▲ GoodMajor
Richmont shareholders approved the Alamos plan of arrangement with 92.56% of votes cast (Alamos holders approved with 98.46%), clearing the shareholder vote required for the deal. Closing is expected November 23, 2017, subject to regulatory approvals and customary conditions. The deal has not yet closed in this filing.
6 Nov 2017business combination▲ Good
Proxy advisers ISS and Glass Lewis recommended that Richmont and Alamos shareholders vote for the Alamos acquisition. Both companies' special meetings are set for November 16, 2017, with proxies due November 14. This continues the deal announced September 11.
2 Oct 2017business combination● Neutral
Richmont reported it now holds 40,348,203 Monarques shares, about 19.9%. Of these, 34,633,203 were received as payment for the Quebec assets and 5,715,000 came from converting subscription receipts bought at $0.35 each. Richmont says it holds them for investment and cannot sell the 5,715,000 shares for one year, subject to certain exceptions. This finalises the share consideration from the Monarques sale.
2 Oct 2017asset acquisition disposition● NeutralMajor
Richmont confirmed it closed the sale of the Beaufor Mine, Camflo Mill, Wasamac project and all other Quebec claims, leases and concessions to Monarques Gold. This completes the sale announced on September 11. The release says Richmont now produces gold from Island Gold in Ontario. No new financial terms are given in this filing.
11 Sept 2017business combination▲ GoodMajor
Alamos Gold agreed to acquire all of Richmont's shares through a plan of arrangement, at 1.385 Alamos shares per Richmont share (C$14.20 per share based on Alamos's Sept 8, 2017 TSX close, a 22% premium to Richmont's close). Richmont shareholders would own about 23% of the combined company. It needs 66 2/3% approval of Richmont votes cast, with a shareholder meeting and closing expected in November 2017, and a reciprocal C$35 million break fee applies in certain cases. The same-day Quebec asset sale to Monarques is not a condition to the deal.
11 Sept 2017material agreement● NeutralMajor
Richmont signed a definitive agreement to sell its Quebec assets, including the Beaufor Mine, the Camflo Mill, the Wasamac development project and other Quebec claims and leases, to Monarques Gold. In return it gets about 19.9% of Monarques, having subscribed about C$2 million of subscription receipts at C$0.35, plus royalties (1.0% on Beaufor once post-closing production reaches 100,000 ounces, 1.0% on its Camflo claims interest, 1.5% on Wasamac). Monarques takes on environmental and other liabilities, subject to regulatory approval. Closing is expected around September 30, 2017, subject to customary conditions; this leaves Island Gold as the remaining producing mine named in the filing.
27 July 2017drilling result▲ Good
Richmont reported more Island Gold drilling, including hole MH8-4 at 19.85 g/t gold over 8.4 metres (true width) about 1,300 metres below surface in the down plunge extension. The company says this area remains open to at least 1,350 metres vertical depth. This continues the 2017 drilling program; the planned deep directional program is now stated as 36,000 metres, of which 14,059 metres are drilled.
14 July 2017resource reserve update● Neutral
Richmont announced it filed the technical report supporting the May 29, 2017 Island Gold Expansion Case PEA. It adds no new figures; the report is on SEDAR.
30 May 2017resource reserve update▲ GoodMajor
Richmont released the Preliminary Economic Assessment for Island Gold that had been under way. It outlines raising mine and mill output from 900 to 1,100 tonnes per day, for about 115,000 ounces a year on average over 8 years (125,000 excluding the 2017-2018 ramp-up), with about C$28.2 million of incremental capital and cash costs of about C$650 per ounce. It is a preliminary study, not a production decision, and it uses only about 24% of the inferred resources.
30 Mar 2017drilling result▲ Good
Richmont reported new drilling results at Island Gold, led by hole GD-640-05 with 20.6 g/t gold over 11.3 metres (core length), about 800 metres east of the main deposit. It follows the January 2017 reserve growth; the company says more drilling is needed to understand the geometry and true width, and it is adding a second directional rig there. 2017 plans include 30,000 metres of delineation drilling and 16,000 metres of deep directional drilling plus 20,000 metres underground.
20 Mar 2017resource reserve update● Neutral
Richmont filed the technical report for the Island Gold Mine supporting the 2016 reserves and resources announced on January 31, 2017. It adds no new figures.
31 Jan 2017drilling result▲ GoodMajor
Richmont reported year-end 2016 reserves. Island Gold's proven and probable reserves rose 34% to 752,200 ounces at 9.17 g/t, with inferred resources of 995,700 ounces at 10.18 g/t. Beaufor's reserves fell 30% to 44,920 ounces, because drilling did not offset mining and some low-grade blocks were removed. The company was then producing from both mines.
16 Dec 2008business combination▲ GoodMajor
Richmont announced it has acquired Patricia Mining Corp., following the securityholder approval five days earlier. Terms are not in the excerpt.
11 Dec 2008business combination▲ GoodMajor
The planned acquisition of Patricia Mining Corp. by Richmont received securityholder approval. Terms are not in the excerpt.
23 Oct 2008joint venture update▼ BadMajor
Richmont will terminate its joint venture option at the Golden Wonder Mine, ending the Colorado venture started with the November 2007 option and the January 2008 commitment. The reason and any costs are not in the text provided.
4 Sept 2008drilling progress report● Neutral
Richmont and LKA agreed to extend the initial commitment period so the current Golden Wonder drilling program can be completed, with drilling underway. LKA appears to be the Golden Wonder counterparty (inference from the headline). This continues the 2008 joint venture.
19 Feb 2008production update▲ GoodMajor
Richmont announced reserve increases and its 2007 production results. The excerpt has only the headline, so ounces and other figures are not available.
8 Jan 2008joint venture update▲ GoodMajor
Richmont finished its evaluation and will go ahead with an initial joint venture interest in Golden Wonder, committing US$3 million toward a program of about US$18 million (the figure is cut off in the text). This follows the November 2007 option.
13 Nov 2007business combination▲ GoodMajor
Richmont announced an option to acquire a 50% operating interest in the Golden Wonder Mine, a past-producing gold mine in Colorado. This is its first move into the US in this record. Price and terms are not in the excerpt.
1 Nov 2007drilling progress report● Neutral
Richmont issued an update on the exploration program at its Beaufor Mine. The text provided contains only the headline, with no results or figures.
30 Oct 2007drilling result▲ Good
Richmont reported exploration results and updates, including completion of exploration work to acquire a 70% interest in a property whose name is cut off in the text at 'Valentine La…'. No results or figures are included in the excerpt.
23 May 2007regulatory community update● Neutral
Richmont filed a formal notice of change of auditor, with letters from the former and successor auditors. Raymond Chabot Grant Thornton is named, but the excerpt does not say whether it is the outgoing or incoming firm, and gives no reason for the change.
11 May 2007asset acquisition disposition● NeutralMajor
Richmont signed a binding letter of intent to sell its East Amphi property. The buyer, price and closing terms are not in the text provided, so the sale is not yet completed on this evidence.
5 Mar 2007drilling result● Neutral
Richmont announced drill results for the Island Zone of its Island Gold property. The filing text provided is only the cover page and headline, so no hole results or figures are available.
