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BRIEF-Richmont Mines announces positive revisions to 2016 guidance

Published 2016-09-12, 06:48 a/m
© Reuters. BRIEF-Richmont Mines announces positive revisions to 2016 guidance
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Sept 12 (Reuters) - Richmont Mines Inc RIC.TO :

* Richmont Mines announces positive revisions to 2016 guidance

* Says company-wide annual gold production guidance estimates have increased to between 98,000 and 106,000 ounces

* Richmont Mines Inc says potential production increase at Island Gold of up to 45% over 2015

* Revising Canadian to US dollar exchange rate assumptions to 1.33 Canadian dollars to US dollar for period January to June

* Company-wide annual cash cost guidance estimates have decreased to between $885 and $945 per ounce (US$675 and US$720 per ounce)

* Company-wide annual exploration expenditure guidance estimates have increased to $17.1 million (US$13.1 million), from $15.5 million

* Annual project capital investment guidance estimates for Island Gold mine have increased to $46.1 million (US$35.2 million)

* Company-wide annual sustaining capital investment guidance estimates have increased to $25.9 million (US$19.7 million), from $24.1 million Source text for Eikon: Further company coverage: RIC.TO

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