Topic: How To Invest

Stock Pickers Digest Hotline – Friday, September 15, 2017

Article Excerpt

ALAMOS GOLD INC., $9.04, symbol AGI on Toronto, owns the Mulatos and El Chanate mines in Mexico and the Young-Davidson mine in northern Ontario. It recently opened a fourth mine, La Yaqui in Mexico. This week, Alamos agreed to acquire Richmont Mines (symbol RIC on Toronto) for $929 million in Alamos shares. Richmont’s main asset is its Island Gold mine, just 83 kilometres northeast of Wawa, Ontario. The mine is expected to produce nearly 100,000 ounces of gold this year. The deposit could hold as much as 1.7 million additional ounces of gold. Richmont released a preliminary economic assessment (PEA) in May 2017 based on a $28 million expansion plan. It would lift Island Gold’s annual production by 25% to 125,000 ounces in 2019. At the same time, Richmont plans to sell its Quebec portfolio—including the Beaufor mine and the Camflo mill—to Monarques Gold (symbol MQR on the Toronto Venture Exchange). It will also contribute $2.0 million in cash to Monarques. Richmont will subsequently…

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