Recent Data Out Of Rio Alto Mining Is Mixed - I'm Remaining On The Sidelines For Now
Ben Kramer-Miller • 13 Comments
Ben Kramer-Miller • 13 Comments
Apr. 1, 2015, 5:39 PM
Mar. 16, 2015, 8:17 AM
- Rio Alto Mining (NYSE:RIOM): Q4 net income of $1.5M
Feb. 9, 2015, 9:12 AM
Feb. 9, 2015, 7:59 AM
- Tahoe Resources (NYSE:TAHO) agrees to acquire Rio Alto Mining (NYSE:RIOM) in a cash and stock deal valuing RIOM at ~C$1.4B ($1.12B), based on Friday's closing stock prices, in a bid to expand its presence in Latin America.
- RIOM shareholders would receive 0.227 of a TAHO share and $0.01 cash per share, making the offer worth ~C$4/share, a 22% premium to RIOM's C$3.28 closing price Friday on the Toronto Stock Exchange.
- TAHO controls the Escobal silver mine in Guatemala, while RIOM owns the La Arena gold mine and the Shahuindo gold project in Peru.
- Goldcorp (NYSE:GG) owns ~39% of TAHO shares and is supporting the deal.
Jan. 12, 2015, 11:21 AM
- Rio Alto Mining (RIOM +6.2%) says it produced a record 222K oz. of gold in 2014, and its La Arena gold mine in Peru produced and sold nearly 58K oz. of gold during Q4.
- RIOM expects La Arena to produce 210K-220K oz. of gold in 2015 at adjusted operating costs of $570-$600/oz.; alll-in sustaining costs are seen at $730-$765/oz. for the year.
Nov. 20, 2014, 6:54 PM
- "You can’t find a sector that is more out of favor right now than gold,” says former geologist and gold fund manager Joe Foster, who expects volatility to continue but with seemingly every headwind already pushing on the price of gold, it might not take much to spark a rally.
- Foster prefers junior miners to larger companies, as "the large caps have really gotten too big for their own good,” singling out Rio Alto Mining (NYSE:RIOM), thanks in past to its success with lower-cost heap leaching; RIOM recently acquired another heap leach operation in Peru.
- He also prefers regional miners, because geographic focus allows companies to better handle the local regulatory and political situation; Foster likes Randgold (NASDAQ:GOLD), which operates mostly in west Africa and has one of the most successful discovery track records in the industry.
- Rounding out Foster's five favorites: B2Gold (NYSEMKT:BTG), Eldorado Gold (NYSE:EGO) and Torex Gold Resources (OTCPK:TORXF).
Nov. 10, 2014, 8:02 AM
- Rio Alto Mining (NYSE:RIOM): Q3 EPS of $0.08
Oct. 6, 2014, 10:50 AM
- Rio Alto Mining (RIOM +3.7%) says its La Arena Gold Mine produced 56,368 oz. of gold during Q3, down 4.7% from 59,157 oz. in the year-ago quarter, due to both lower ore production and a decline in grade of 0.11 gold/ton.
- Mine output totals 164,347 gold oz. YTD, compared with 143,940 gold oz. for the same nine month period a year ago.
- RIOM maintains its previous FY 2014 gold production guidance of 200K-220K oz. of gold.
Aug. 14, 2014, 7:50 AM
- Net income of $15.2M, or $0.09 per share vs. a net loss of $3.3MM, or ($0.02) per share for the second quarter of 2013.
- Gold produced was 54,517 ounces, of which 50,830 ounces were sold at an average realized price of $1,276 per ounce.
- Cash provided by operations for the quarter amounted to $22.4M.
- Q2 results
Aug. 14, 2014, 7:20 AM
- Rio Alto Mining (NYSE:RIOM): Q2 EPS of $0.09.
Aug. 6, 2014, 7:31 AM
- Rio Alto Mining (NYSE:RIOM) has completed its acquisition of all issued and outstanding common shares of Sulliden (OTCQX:SDDDF).
- As part of the merger, CEO of Sulliden Peter Tagliamonte and Director of Sulliden Bruce Humphrey will join the Board of Directors of Rio Alto.
- Previously: Rio Alto Mining, Sulliden Gold plan to merge
Jul. 8, 2014, 8:32 AM
- Rio Alto Mining (RIOM) says it produced 54,517 oz. of gold from its La Arena gold mine in Peru during Q2, up 12.5% Y/Y, and produced 107,979 oz. YTD, up 27.3% Y/Y.
- RIOM says Q2 gold production came in below expectations due to negative grade difference of 0.15 gram/ton vs. budgeted grade mined.
- Maintains its previous gold production guidance of 200K-220K oz. of gold in FY 2014.
Jun. 16, 2014, 8:57 AM
May 29, 2014, 7:50 AM| May 29, 2014, 7:50 AM | 1 Comment
May 21, 2014, 12:47 PM
May 21, 2014, 8:28 AM
- Rio Alto Mining (RIOM) and Sulliden Gold (SDDDF) agree to merge, in a deal valued at ~C$300M, creating a gold miner focused on Peru.
- The merger would combine RIOM's La Arena gold oxide mine and adjoining sulphide copper-gold deposit in Peru with Sulliden's Shahuindo gold development project located in the northern part of the country.
- The two companies say the combination will result in near-term production potential of ~300K oz/year of gold.
- RIOM +6.1% premarket.