Rio Alto Mining Limited RIOAF

RE: Results

[eebler]

Grades are down from Q1 but production still grew.  At current pace, they are still on track for over 200k ozs this year.  That assumes that the grades stay in this range.  On the other hand, production improvements continue to allow for greater stacking capability so even a drop in grades in the next quarter could be offset by increased ore to the pad.  Once people figure out the metrics on production and the financials confirm cash costs, there is a good chance that RIO gets set for another upleg.  Right now it continues to consolidate in the $4-$4.20 range.