Current price is between $3.30 - support $2.80 - previous high of $3.20
Market Cap 542.8M
Shares Out. 169.6M
Revenue
(FYR) ---
EPS $-0.06
Analyst coverage target prices
- Scotia Capital $4.20
- Stonecap $3.90
- CIBC World Markets $4.60
- Clarus Securities Inc. $3.30
Since May of 2011, Rio Alto Mining is a gold producer with its 100% owned La Arena gold/gold-copper project (21,000 ha) in north central Peru. La Arena contains 2.8M oz of gold and 1.7B lbs of copper indicated with additional 1.2M oz of gold and 1.2B lbs of copper inferred. The company is also investigating on increasing production rate by 50%, from 24k tpd to 36k tpd. The current production gold grade have been 25% higher than the estimate. Recently, the drill results been sucessful with results of 238m of 1.06g/t and 134m of 2.29g/t. With these new positive results, the company continues to explore and drill for possible expansion. Another potential upside lies in the development of the adjacent copper-gold sulphide project.
La Arena gold/gold-copper project
- 100% owned
- Production commenced in May of 2011
- Indicated 2.8M oz gold and 1.7B oz copper
- Inferred 1.2M oz gold and 1.2B oz copper
- Production rate 10k tpd -75k oz gold first year
- Production rate 24k tpd - 96k - 120oz gold per year for 5 years
- Tailing off 35k oz gold 7th year
- Approx.cost $508/oz gold
- QE3 (Aug.31.,2011) produced 9,385oz gold (poured) and 18,390oz placed on the pad.
- Recent production - average graded 0.55g/t (25%) above the reserve grade of 0.44g/t
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
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