Rio Alto Has Poured 40k oz Gold Quarter-to-Date: Rio Alto highlighted that so far in Q2, the company has poured a very impressive 40,000 oz gold and have now delivered on their gold prepayment facility commitments through to May 2013. An expansion to 36,000 tonnes of ore to the pad per day is scheduled to begin in late July with 2012 expansion capex expected to be $25 – 27mm (in line with recent guidance but Mark conservatively models $35mm). An updated resource estimate is expected to be completed in September which will be used to develop a new reserve and mine plan. In terms of the sulphide project, the company expects to receive an internal-only feasibility study in H1/2013. However, the plan is to start small and fund the project internally.
So hey, let's do some math: 56k in 1q12, then a projected 60k oz in 2q12. You kinda get the feeling RIO.to is going to beat its 160k oz target for the year, dontcha? But still, bets dyodd, dude.