Double transaction for Richmont Mines

The Northern Miner, 2017

The Québec miner Richmont Mines (TSX: RIC) carried out two simultaneous movements on the day of September 11. The first move was to sell all its Québec assets to Monarques Gold Corporation. Also, Alamos Gold (TSX: AGI), from Ontario, announced the acquisition of Richmont Mines and all of its remaining assets.

Richmont Mines shareholders will receive 1.385 shares of Alamos Gold for each of the shares of Richmont that they had. Considering the share prices of both companies on September 8, the last day of trading prior to the transaction, the Richmont Mines shareholders will receive 14.20 $CAN per share. On September 8,  Richmont’s stock was at 11.62 $CAN. This acquisition means that the shareholders of Richmont now own up to 23% of Alamos Gold (Financial Post, 2017). This transaction gives Alamos Gold access to the Island Gold mine in Ontario.

In parallel with this transaction, Richmont sold all its Québec assets to Monarques, another mining company based in Val-d’Or, Québec. Monarques will therefore be the new owner of the Beaufor Mine in Val-d’Or, the Camflo Mill in Malartic and the Wasamac development project in Rouyn-Noranda. Also, Monarques will get various leases and concessions from Richmont, who will now own 19.9% of Monarques.

These transactions were supported by all parties involved who see it as positive not only for the owner but also for the employees. These moves are expected to keep jobs in Abitibi in the long term, considering the willingness of the new acquirers to generate a great return on investment (Radio-Canada, 2017).


RADIO-CANADA. (September 11, 2017). Un fleuron de l’Abitibi, Mines Richmont, pourrait être vendu à l’ontarienne Alamos Gold. Radio-Canada. From

The Canadian Press. (September 11, 2017). Alamos Gold to acquire Richmont Mines in friendly deal worth US$770 million. Financial Post. From

Pouliot, F. (September 12, 2017). À surveiller : Richmont, Alamos et Innergex. Les Affaires. From


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