Rio Alto Mining Limited RIOAF

Earnings

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Looks pretty good. Very unfortunate that they're being released on what will obviously be a tough day on the markets, however, even at $1500/oz gold, they are clearing close to $600 for every oz sold. GLTA

Rio Alto Reports Earnings of
.19 Per Share for Q1 2012

 

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)(OTCQX:RIOAF)(LMA:RIO)(DBFrankfurt:MS2) 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