Richmont Mines Inc. (TSX:RIC,AMEX:RIC,NYSE:RIC) has obtained the mining permits for its 100%-owned Monique Gold Project in Quebec.
As quoted in the press release:
The Corporation will begin overburden removal shortly, with a view to extracting a 5,000 tonne bulk sample to be processed at its 100%-owned Camflo Mill in 2013. If the results from the bulk sampling phase are favourable, open pit mining and milling would proceed over the following 2 year period, the approval for which is inclusive in the permit.
Richmont Mines Inc. President and CEO, Paul Carmel said:
The potential addition of Monique to Richmont’s operating mines is consistent with our strategy to increase the mine life and resources of our Quebec asset base by bringing on additional sources of ore for our Camflo Mill. Each additional source must fulfill investment return criteria established by management, and we continue to evaluate other potential asset acquisitions that fit this strategy.