good earnings?
Rio Alto Reports Earnings of
.19 Per Share for Q1 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2012) - Rio Alto Mining Limited ("Rio Alto") (TSX:RIO.TO - News)(OTCQX:RIOAF.PK - News)(LMA:RIO.TO - News)(DBFrankfurt:MS2.F - News) is pleased to announce that its net income was $33.2 million or
.19 per share for its first three months of commercial production.
Financial Highlights for the three months ended March 31, 2012 were:
-- Cash generated from operations amounted to $54.6 million. -- Net cash flow for the period was $44.9 million. -- Revenue was $94.6 million. -- Cash cost was $428 per ounce of gold sold during the quarter.
Cash Cost and Total Cost per Ounce of Gold Sold:
The mine site cash cost for the 58,918 ounces of gold sold was $428 per ounce. Total, after tax and overhead, cash cost per ounce of gold sold was $909 per ounce. The determination of mine site cash and total cost per ounce is illustrated in the table below: