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11/13/13

Rio Alto 3q13 earnings

EPS 9c per share (beating the consensus of 6c nicely), net of $15.907m. Costs under $34m, which was handily lower than my guesstimate. A good quarter and here are a couple of charts:



Plenty more where those came from. This is a stock that will rally today, gold price permitting. Yeah, I'm long.

UPDATE: And gotta like this from the MD&A: "Adjusted operating costs for 2013 were forecasted to be in the range of $675 to $725 per ounce of gold sold. Management now anticipates that adjusted operating cost per ounce will be approximately $650." That's because it means 4q13 op cash costs are now being estimated by the company at $530/oz.

UPDATE 2: And the NR is out. Read it here.