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Rio Alto Mining Limited > NEWS ... PRODUCTION UPDATE
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Post by Kewl2 on Sep 14, 2011 10:40am

NEWS ... PRODUCTION UPDATE

Rio Alto Provides La Arena Update-9,385 Ounces of Gold Produced in Q1

https://www.marketwire.com/press-release/rio-alto-provides-la-arena-update-9385-ounces-of-gold-produced-in-q1-tsx-venture-rio-1561070.htm

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2011) - Rio Alto Mining Limited ("Rio Alto" or the "Company") (TSX VENTURE:RIO)(BVLAC:RIO)(OTCQX:RIOAF)(DBFrankfurt:MS2) is pleased to report that for its first quarter ended August 31, 2011 pre-commercial gold production from the La Arena Gold Oxide Mine was 9,385 ounces of gold. The Company is also pleased to provide an update on activities at La Arena.

Pre-commercial Production

For the June 1 to August 31 period mine production amounted to 1,080,679 tonnes of ore grading 0.55 grams of gold per tonne ("Au g/t") and waste moved was 916,064 tonnes.

much more at above link.........

Comment by eebler on Sep 14, 2011 11:51am
Nice nr - especially if they have the resources to allow them to increase production to 36k tpd by the end of 2012.  Based on the official Resource/Reserves and using the Indicated average of 0.41 g/t for the Oxides and 90% recovery, that would make for 160k ozs of gold per year.  If the drill results of the last few months are an indication of overall higher averages, even ...more  
Comment by Truewidth on Sep 14, 2011 12:17pm
Yeay, looks good to me. I especially like the august numbers and the forecast. From nov (that's not even two months away) we should have 24 000 tonnes a day.With a recovery of 85% and a grade of 0,6g/t (august numbers) that should give around 150 koz/y. I get a rough EPS FD of around 50 cents with those numbers using a rather high cash cost. With a multiple of 10 should we ...more  
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