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Richmont Mines Inc. (TSX:RIC,NYSEMKT:RIC) reported gold production of 23,187 ounces, in the third quarter of 2014, which represents a 58% year over year increase.
As quoted in the press release:
This brings gold production for the first nine months of 2014 to 71,354 ounces, 68% above the prior year level. Accordingly, underpinned by the strong performance of Island Gold, Richmont is pleased to increase 2014 gold production guidance to 85,000 – 90,000 ounces of gold, up from 75,000 to 85,000 ounces. The Corporation’s cash and short term deposits increased to approximately $38 million at September 30, 2014, up from $36 million at June 30, 2014.
Richmont Mines Interim President and CEO Elaine Ellingham, said:
Our operations performed very well during the third quarter of 2014, with gold production and sales exceeding our plans. With 86% of the upper end of our 2014 annual production guidance realized in the first nine months of the year, we are increasing our guidance for our 2014 production profile to 85,000 to 90,000 ounces. As previously reported, mine development at Island Gold has increased in the second half of the year, so we are pleased that our operations team have been able to exceed our expected production levels.
Click here to read the Richmont Mines Inc. (TSX:RIC,NYSEMKT:RIC) press release
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