Richmont Mines Inc. (TSX:RIC,NYSEMKT:RIC) has completed the three month pre-production phase and commercial production on the Monique Gold Project. Monique is expected to produce 4,500 ounces of commercial gold production for the Corporation during the fourth quarter of 2013, and has an estimated life of mine commercial gold production of 30,000 ounces, over 19 months, at an average cash cost per ounce of CAN$904.
As quoted in the press release:
Monique is an open-pit operation located 25 km east of Val-d’Or, Quebec, and approximately 50 km from the Corporation’s Camflo Mill in Malartic, Quebec. As of July 1, 2013, Monique had open-pit Proven and Probable Reserves of 485,737 tonnes, grading 2.29 g/t for 35,698 ounces, as detailed in the table below. A 43-101 technical report for Monique’s Mineral Reserve estimate, published July 31, 2013, was filed on SEDAR (www.sedar.com) on September 13, 2013