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Richmont stocks rally on 34% Island Gold reserve rise

Creamer Media Deputy Editor: North America
The TSX- and NYSE MKT-listed stock of gold producer Richmont Mines rallied on Tuesday after the company announced a positive reserve and resource update for the flagship Island Gold mine, in Ontario, lifting reserve tonnes by 21% to 2.6-million tonnes and contained ounces by 34% to 752 000 oz. The Toronto-headquartered company also said the reserve grade increased by 11% to 9.17 g/t.

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