Richmont reports strong Q1 output as costs slide

Boutique gold producer Richmont Mines has reported strong performance from the flagship Island Gold mine, in Ontario, pushing total output in the period to 29 401 oz of gold, which despite being 9% lower year-on-year, took into account the ceased production at the small-scale Monique mine, and improved output at the Beaufor mine, both in Quebec. Total cash costs came in at $598/oz, which was up from $583/oz in the comparable period a year earlier, but more than $100/oz lower than the prior quarter.