Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Richmont Mines (AMEX: RIC) jumped 10% today after the company released resource estimates for its Monique project.

So what: The results show that there are 55,112 ounces of gold resources in the open-pit mine. The company opened a 1,700-meter surface drilling program this month as well.

Now what: Next year the company hopes to process a 5,000-metric-ton bulk sample at the Camflo Mill and complete more technical work at the property. It also helped that gold rose more than 1% in trading today and most shares rose significantly. The news today isn't enough for this Fool to buy in, because the price of gold is just too volatile right now.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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