The news from Rio Alto Mining (RIO.to) (RIOM) $RIOM this morning that it’s hit new swathes of mineralization at La Arena outside its current reserve pit looks good to add at least a couple of years’ worth of production to the mine. Or if you like and to use very round (and conservative) numbers, two years of production at 200,000 ounces a year that cost $1,000 all-in (zero extra to that, with op cash cost maybe $650/oz) to produce and then sell at $1,300/oz.
Can you do three hundred multiplied by four hundred thousand? Yeah, me too.
However, the above news from RIO.to is likely to be neutralized at market by a $10/oz downmove in bullion today and the stock price will do nothing. Ladies and gentlemen, IKN presents your pathetic market for juniors.