Richmont Mines to Benefit from Addition to the S&P/TSX SmallCap Index

Spotlight Companies |

Canadian gold miner Richmont Mines (RIC:CA) (RIC) continued to show its growing strength with news on Friday that it would be added to the S&P/TSX SmallCap Index. Effective as of the opening bell on Monday the 21st, addition to this index is expected to help boost the visibility of Richmont’s stock.

"The addition of Richmont to the S&P/TSX SmallCap Index is an important milestone for our company and recognizes the progress we have made over the last couple of years as we successfully transition Island gold mine into a low-cost, long-life and higher-grade operation,” said Renaud Adams. “We are confident that the inclusion in the index will improve trading liquidity and expose Richmont to a much broader range of investors."

Addition to Key Index a Boost for Growing Resource Company

Richmont Mines is an established gold mining company with some 14 sites in Quebec and Ontario and 25 years of experience in the industry. The company has already produced over 1.5 million ounces of gold and is currently exploring an expansion of resources below its Island Gold Mine in Ontario, one of its two currently-producing sites, along with the Beaufor Mine in Quebec.

The company’s Q2 earnings report, released in mid-July, revealed a record quarterly output for the Island Gold Mine, falling just three ounces shy of 15,000 for the three-month period. This gave the company production in excess of 26,000 ounces, producing revenues of $40.6 million.

The S&P/TSX SmallCap Index is a cap-weighted, float-adjusted index designed with industry input to create a benchmark for those small-cap companies with exposure to the Canadian equities markets. The addition of Richmont Mines is, to some degree, a recognition of its steady gains over the last two years. The stock has more than tripled since the start of 2014 and is up more than 60% over the last year.

Disclosure: In the purview of Section 17(B) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention the fact that, Inc. may be compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. is not a registered broker, broker dealer, investment advisor, analyst, investment banker or underwriter. All profiles are based on information that is available to the public. The information contained herein should not be considered to be all-inclusive and is not guaranteed by to be free from misstatement or errors. Readers are reminded to do their own due diligence when researching any companies mentioned on this website.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Emerging Growth

IGEN Networks Corp.

iGen Networks Corp is engaged in investing in and managing for growth private high-tech companies that offer products and services in the domains of wireless broadband, software as a service,…

Private Markets


Airbnb is a community marketplace for people to list, discover, and book unique accommodations around the world — online or from a mobile phone. Whether an apartment for a night,…


Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.